National News
Khazanchi Jewellers Reports Strong Q2 FY26 Performance With 113% EBITDA and 119% PAT Growth
Strong festive demand, design innovation, and expanding retail and wholesale networks power Khazanchi Jewellers’ standout growth in Q2 and H1 FY26.
Khazanchi Jewellers Limited, a leading Indian jewellery company known for its gold, diamond, precious stone, and bullion offerings, has announced robust unaudited financial results for Q2 and H1 FY26, showcasing significant growth across key metrics.
Khazanchi Jewellers – Financial Highlights (Q2 & H1 FY26)
| Metric | Q2 FY26 | YoY Growth | H1 FY26 | YoY Growth |
| Total Revenue | ₹548.92 Cr | 46.25% | ₹952.76 Cr | 25.94% |
| EBITDA | ₹32.62 Cr | 112.86% | ₹53.78 Cr | 86.81% |
| EBITDA Margin | 5.94% | +186 bps | 5.64% | +184 bps |
| PAT | ₹23.54 Cr | 119.41% | ₹38.70 Cr | 93.66% |
| PAT Margin | 4.29% | +143 bps | 4.06% | +142 bps |
| EPS | ₹9.52 | 118.35% | ₹15.64 | 93.56% |
Commenting on the company’s strong performance, Rajesh Mehta, Chairman & Joint Managing Director, said the quarter marked exceptional growth driven by sustained innovation, enhanced design offerings, and affordability despite volatile precious metal prices. He noted that festive and pre-Diwali demand significantly boosted both retail and wholesale operations.
He added that the company’s diamond brand, Vajraa Diamonds by Khazanchi, is strengthening its presence in premium segments and elevating brand visibility. With a growing retail and wholesale network, continuous design upgrades, and a customer-first approach, Khazanchi Jewellers remains confident in delivering sustained profitable growth and long-term value for stakeholders.
The session saw a power packed panel of experts that comprisedSurendra Mehta, National Secretary- IBJA,Ranjith Singh,Head of Business Development, IIBX, Shweta Dhanak, Director – Vijay Exports,S Thirupathi Rajan, MD Goldsmith Academy, Shivanshu Mehta, SVP & Head Bullion-MCX.The session was moderated by Chirag Seth, Principal Consultant, Metals Focus.
Some salient points made by the panelists:
- Gold prices are not linked to consumer demand. They are linked to central bank buying and ETFs
- Till the banking system doesn’t collapse, gold price will continue to rise
- Jewellers were advised to use a mix of futures and options for risk mitigation
- Given the current situation manufacturers selling on credit or unfavorable deals could be fatal flaw for business.
- Precious metals forecast: Surendra Mehta said he sees gold in 2026 in $4900-5100 range and silver in $90-105.Looking further he said by 2030-2035 gold could touch $18000- 20000 and silver could reach $500. Chirag Seth predicted silver touching $105 this year and gold moving in the $ 5200- $ 5500.
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