The Retail segment delivered strong revenue growth 46% in Q3 FY26 compared to the same period in the previous financial year, accounting for 83.2% of total revenue. The growth was primarily driven by strong festive and wedding season demand.

Non-Retail Segments

• E-commerce: This segment recorded a 138% increase compared to the same quarter in the
  previous financial year; it contributed 5.1% to total revenue.
• Franchisee Operations: This segment grew by 12% YoY, accounting for 7.7% of total revenue. During the quarter under review, total revenue excluding the other segment delivered a YoY growth of 46%. The details are provided below:

• Other segment: It accounted for 4% of total revenue in Q3 FY26, primarily comprising B2B
  bullion sales from the Head Office and corporate segment.

Festive Sales

• Dussehra sales stood at Rs.190 crore, reflecting a strong 64% YoY growth.
• Dhanteras registered a revenue of Rs.277 crore, marking the highest-ever single-day festive sales
  for the company. Consequently, total Diwali sales aggregated to Rs.606 crore, registering a robust
  74% YoY growth.
• October 2025 witnessed the highest-ever monthly revenue of Rs1,807 crore, representing a
  significant 72% YoY increase.

Product Mix and same store sales growth

• The studded jewellery contribution for the 9M FY26 increased by 52% YoY, taking the stud ratio to 8.4 %.
• Further, the Same-store sales growth (SSSG) for the quarter stood at 32%.

Operational Highlights

• During the quarter, the Company launched 3 exclusive company owned outlets, taking the total store
• count to 66 as of December 31, 2025.

Outlook for FY26

• On the expansion front, Company continues to focus on accelerating our store rollout plan, with 12-14 new openings planned for Q4 FY26, comprising a mix of company owned (COCO) and franchisee operated (FOCO) outlets. These additions will enable us to achieve our target of 78-80 stores by the end of the fiscal year.