Ashapuri Gold Ornament Limited Reports 540 Bps EBITDA Margin Expansion, 428 Bps PAT Margin Growth & 20% YoY Sales Volume Growth in Q2 FY26

Mumbai (Maharashtra) [India], November 13: Ashapuri Gold Ornament Limited (BSE – 542579), one of India’s leading B2B jewellery manufacturers, reported its Unaudited financial results for Q2 & H1FY26.

Key Financial Highlights:

Q2 FY26

• Total Income of ₹ 102.41 Cr, YoY growth of 17.81%
• EBITDA of ₹ 11.47 Cr, YoY growth of 128.66%
• EBITDA Margin of 11.20%, YoY growth of 543 Bps
• PAT of ₹ 8.47 Cr, YoY growth of 144.62%
• PAT(%) of 8.27%, YoY growth of 429 Bps
• EPS of ₹ 0.25, YoY growth of 150.00%

Q2 FY26 (QoQ)

• Total Income of ₹ 102.41 Cr, QoQ growth of 93.39%
• EBITDA of ₹ 11.47 Cr, QoQ growth of 128.41%
• EBITDA Margin of 11.20%, QoQ growth of 172 Bps
• PAT of ₹ 8.47 Cr, QoQ growth of 167.12%
• PAT(%) of 8.27%, QoQ growth of 228 Bps
• EPS of ₹ 0.25, QoQ growth of 150.00%

H1 FY26

• Total Income of ₹ 155.37 Cr, YoY growth of 18.04%
• EBITDA of ₹ 16.49 Cr, YoY growth of 88.20%
• EBITDA Margin of 10.61%, YoY growth of 396 Bps
• PAT of ₹ 11.65 Cr, YoY growth of 92.11%
• PAT(%) of 7.50%, YoY growth of 289 Bps

Sales Quantity

Sales quantity increased to 145.07 KGS in Q2 FY26 from 120.58 KGS in Q2 FY25, registering a growth of 20.31%. For H1 FY26, sales quantity stood at 217.10 KGS versus 181.67 KGS in H1 FY25, reflecting a 19.50% increase.

Manufacturing Quantity

Manufacturing quantity rose to 145.17 KGS in Q2 FY26 from 100.02 KGS in Q2 FY25, marking a strong growth of 45.14%. For the half-year period, H1 FY26 manufacturing quantity was 246.94 KGS, compared to 224.02 KGS in H1 FY25, recording a 10.23% increase.

*EPS of ₹ 0.35, YoY growth of 94.44%

Speaking on the financial performance, Mr Jitendra Kumar Soni, Joint Managing Director of Ashapuri Gold Ornament Limited, said, “We are delighted to share another strong quarter of performance in Q2 FY26, with PAT growing by 145% year-on-year and EBITDA more than doubling. Our EBITDA margin expanded by 540 basis points to 11.20%, and PAT margin improved by 428 basis points to 8.27%. This remarkable improvement reflects our disciplined execution, operational efficiency, and the inherent strength of our B2B jewellery business model.

We are equally pleased with the strong momentum in volumes this quarter. Sales quantity increased by over 20% YoY to 145.07 kg, driven by sustained demand for our differentiated product portfolio and increasing acceptance of our design-led offerings among leading retail chains. This continued expansion in volumes demonstrates the robust market appetite for our jewellery collections and validates our strategy of building scale while ensuring product excellence.

During the quarter, we secured new orders worth ₹5.41 Cr from reputed national jewellery retail chains under our premium Aneya collection, reinforcing brand trust and customer confidence. The ₹102 Cr of fresh domestic orders booked at the Gem & Jewellery Show 2025 further validates the growing market acceptance of our design capabilities and product quality. As we move forward, our focus remains on profitable growth, expanding our design portfolio, and strengthening our relationships with leading retail partners across India.”

Key Q2 FY26 Operational Highlights

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