Advit Jewels Limited profit rises 28% as revenue grows 23%

Advit Jewels Limited reported profit after tax of Rs 12.76 crore for the quarter ended September 30, 2026, up from Rs 9.97 crore a year earlier. Revenue from operations increased to Rs 58.81 crore from Rs 47.69 crore, while the reported inventory-change expense moved to negative Rs 27.73 crore from a positive Rs 16.22 crore.

What did Advit Jewels report for the September quarter?

Advit Jewels reported total income of Rs 59.10 crore for the quarter ended September 30, 2026, compared with Rs 47.69 crore in the September 2025 quarter. Revenue from operations was Rs 58.81 crore, up 23% year on year, and other income rose to Rs 29.47 lakh from Rs 20,000.

Profit before tax increased to Rs 15.58 crore from Rs 12.08 crore in the prior-year quarter. Tax expense was Rs 2.82 crore in the September 2026 quarter, and profit after tax reached Rs 12.76 crore, compared with Rs 9.97 crore a year earlier. Total comprehensive income was Rs 12.78 crore, against Rs 9.94 crore.

Basic and diluted earnings per share were Rs 2.83 for the September 2026 quarter, versus Rs 3.11 a year earlier. Paid-up equity share capital stood at Rs 45.81 crore at September 30, 2026, compared with Rs 32.01 crore in the September 2025 quarter, and Advit Jewels stated that quarterly earnings per share were not annualised.

How did inventory changes affect Advit Jewels’ expenses?

Advit Jewels recorded a negative Rs 27.73 crore under changes in inventories of finished goods, work-in-progress and stock-in-trade, compared with a positive Rs 16.22 crore expense in the September 2025 quarter. This Rs 43.95 crore movement in that reported expense line occurred as total expenses increased 22% to Rs 43.53 crore.

Cost of materials consumed rose to Rs 65.10 crore from Rs 14.63 crore in the year-earlier quarter. Employee benefit expense increased to Rs 1 crore from Rs 86.58 lakh, other expenses rose to Rs 4.31 crore from Rs 2.15 crore, and depreciation and amortisation expense increased to Rs 34.52 lakh from Rs 15.97 lakh.

Finance costs declined to Rs 50.53 lakh from Rs 1.60 crore. The combination of the negative inventory-change expense and lower finance costs accompanied profit before tax of Rs 15.58 crore, even though quarterly material consumption exceeded revenue from operations of Rs 58.81 crore.

How did Advit Jewels perform in the first half?

Advit Jewels reported first-half profit after tax of Rs 20.95 crore for the six months ended September 30, 2026, compared with Rs 15.91 crore in the corresponding 2025 period. Revenue from operations rose to Rs 94.13 crore from Rs 73.46 crore, while total income reached Rs 94.51 crore against Rs 73.47 crore.

Profit before tax increased to Rs 25.47 crore from Rs 19.24 crore for the half year. Total expenses rose to Rs 69.04 crore from Rs 54.22 crore, while the inventory-change line shifted to negative Rs 26.06 crore from a positive Rs 14.69 crore in the corresponding prior-year period.

Net cash used in operating activities was Rs 32.82 crore in the first half, compared with net cash generated from operations of Rs 5.64 crore a year earlier. The cash-flow statement showed an inventory increase of Rs 31.35 crore, a trade-receivables increase of Rs 12.95 crore and an increase in other current assets of Rs 13.84 crore during the 2026 period.

What changed in Advit Jewels’ balance sheet?

Advit Jewels’ total assets rose to Rs 299.83 crore at September 30, 2026, from Rs 171.76 crore at March 31, 2026. Current assets increased to Rs 275.66 crore from Rs 151.41 crore, including inventory of Rs 169.55 crore, cash and cash equivalents of Rs 52.73 crore, and trade receivables of Rs 21.95 crore.

Inventories rose by Rs 31.35 crore from Rs 138.20 crore at March 31, consistent with the first-half cash-flow statement. Trade receivables increased by Rs 12.95 crore from Rs 9 crore, while cash and cash equivalents rose from Rs 26.25 lakh and other bank balances were Rs 13.32 crore at September 30, 2026.

Total equity rose to Rs 279.26 crore from Rs 92.59 crore, while total liabilities fell to Rs 20.57 crore from Rs 79.17 crore. Short-term borrowings decreased to Rs 1.10 crore from Rs 61.54 crore, and long-term borrowings declined to Rs 8.93 crore from Rs 9.49 crore.

How has Advit Jewels used its equity-issue proceeds?

Advit Jewels disclosed a private placement of 18.32 lakh equity shares at an issue price of Rs 125 each, aggregating Rs 22.90 crore, allotted on May 13, 2026. The company proposed using the proceeds for general corporate purposes and said Rs 6.32 crore had been used by September 30, 2026.

The same note stated that Rs 18.58 crore of private-placement proceeds remained unutilised at September 30, 2026. That disclosed balance does not arithmetically reconcile with the note’s stated aggregate proceeds of Rs 22.90 crore and utilisation of Rs 6.32 crore.

The company also reported IPO proceeds of Rs 165.16 crore, of which Rs 125.73 crore had been utilised by September 30, 2026, leaving Rs 39.42 crore. The remaining amount comprised Rs 28.85 crore for working-capital requirements, Rs 6.17 crore for general corporate purposes and Rs 4.41 crore for issue expenses; repayment or prepayment of borrowings of Rs 65 crore had been fully utilised.

Conclusion

Advit Jewels’ September-quarter revenue increased 23% and profit after tax rose 28% year on year, with profit before tax reaching Rs 15.58 crore. The period’s reported expense profile was materially affected by a negative Rs 27.73 crore inventory-change line, while first-half operating cash flow was negative Rs 32.82 crore as inventories and receivables increased.

The next disclosures to watch are the deployment of the Rs 39.42 crore of IPO proceeds remaining at September 30, 2026 and the company’s clarification of the private-placement utilisation figures. Advit Jewels also reported one investor complaint unresolved at the end of the half year, after receiving six complaints and resolving five.