Khazanchi Jewellers (543953) Q4 24/25 earnings summary

Executive summary

• FY2025 total income was ₹177,253.25 lakh, up 115.76%, and net profit was ₹4,492.12 lakh, up 64.43%; EBITDA rose 55.41% to ₹64.92 crore and EPS reached ₹18.15.

• Growth priorities include B2B and B2C expansion, a new retail flagship, digital initiatives, in-house manufacturing and higher-margin products.

Financial highlights

• H2 FY2025 total income was ₹1,016.01 crore, up 144.6% YoY; EBITDA was ₹36.12 crore, up 71.8%, and PAT was ₹24.93 crore, up 114.85%.

• H2 FY2025 EPS was ₹10.07, up 114.71% YoY.

• FY2025 revenue from operations was ₹177,192.69 lakh and other income ₹60.56 lakh; total revenue was ₹177,253.25 lakh.

• FY2025 profit before tax was ₹6,085.67 lakh versus ₹3,670.52 lakh in FY2024; net profit was ₹4,492.12 lakh versus ₹2,731.94 lakh.

• FY2025 expenses totaled ₹171,167.58 lakh, including ₹175,794.79 lakh in stock-in-trade purchases, offset by a ₹5,616.46 lakh inventory change.

Outlook and guidance

• Management targets at least 25% annual top-line growth, with potential to exceed that level; demand growth was also expected at 25% or better.

• Flagship showroom opening is targeted for Q2 FY2026 after construction and completion-certificate delays; B2B operations may start by July, with retail sales contributing partly in FY2026.

• After the flagship launch, 5–6 additional showrooms are contemplated over 1–2 years; future locations are being evaluated, initially in Tamil Nadu.

• Management expects margins to improve with retail and higher-margin products; it said a 5% blended margin may be reached gradually over the next two years.