Kabra Jewels first-half profit rises to Rs 10.7157 crore

Kabra Jewels Limited reported standalone net profit of Rs 10.7157 crore for the half year ended September 30, 2026, up from Rs 6.5613 crore a year earlier, as revenue from operations increased to Rs 136.8548 crore from Rs 98.6394 crore. The board approved the unaudited results on November 2, 2026, following a limited review by its statutory auditor.

How much did Kabra Jewels' first-half profit increase?

Kabra Jewels' standalone net profit increased by Rs 4.1544 crore year on year to Rs 10.7157 crore for the half year ended September 30, 2026. Profit before tax rose to Rs 14.8305 crore from Rs 8.6727 crore, while total tax expense increased to Rs 4.1148 crore from Rs 2.1114 crore. The statement did not report discontinued operations for either period.

Earnings per share, or EPS, rose to Rs 10.22 from Rs 6.26 in the corresponding half year ended September 30, 2025. Paid-up equity share capital remained Rs 10.485 crore at September 30, 2026, with a face value of Rs 10 per share, while reserves and surplus increased to Rs 105.2949 crore from Rs 94.5752 crore at March 31, 2026.

What changed in Kabra Jewels' revenue and expenses?

Kabra Jewels' revenue from operations rose by Rs 38.2154 crore to Rs 136.8548 crore in the September 2026 half year. Other income was Rs 35.78 lakh, compared with Rs 35.36 lakh a year earlier, taking total income from operations to Rs 137.2126 crore from Rs 98.7530 crore. The company said it operates in a single segment, so the filing provides no segment-wise revenue split.

Total expenses increased to Rs 122.3822 crore from Rs 90.0804 crore, a rise of Rs 32.3018 crore that was lower than the Rs 38.4596 crore increase in total income. Purchases declined to Rs 119.5193 crore from Rs 131.8722 crore, while the reported change in inventories was negative Rs 15.3487 crore, compared with negative Rs 55.7915 crore in the prior-year half.

Finance cost increased to Rs 7.7488 crore from Rs 4.9592 crore and employee-benefit expense rose to Rs 4.2471 crore from Rs 3.0802 crore. Depreciation and amortisation were Rs 1.0596 crore against Rs 92.25 lakh, direct expenses were Rs 33.33 lakh against Rs 26.70 lakh, and other expenses were Rs 48.11 lakh against Rs 47.75 lakh.

How did Kabra Jewels' working capital and borrowings move?

Kabra Jewels reported inventory of Rs 256.6418 crore at September 30, 2026, compared with Rs 241.2931 crore at March 31, 2026. Trade receivables rose to Rs 16.5039 crore from Rs 3.7808 crore over the same six months. These balance-sheet movements accompanied the reported rise in first-half revenue to Rs 136.8548 crore.

Long-term borrowings were Rs 104.0716 crore at September 30, 2026, up from Rs 92.6992 crore at March 31, 2026. Short-term borrowings declined to Rs 49.9448 crore from Rs 62.3424 crore, while trade payables increased to Rs 12.9054 crore from Rs 7.6401 crore. The balance sheet also reported other current liabilities of Rs 9.711 crore at September 30.

Total assets increased to Rs 305.15 crore at September 30, 2026 from Rs 288 crore at March 31, 2026. Cash and cash equivalents stood at Rs 18.927 crore at September 30, compared with Rs 12.2915 crore at September 30, 2025; the year-on-year comparison is from the cash-flow statement rather than the March 2026 balance sheet.

What did Kabra Jewels' cash flow show?

Kabra Jewels generated net cash from operating activities of Rs 12.0149 crore in the half year ended September 30, 2026, compared with an operating cash outflow of Rs 22.347 crore in the year-earlier half. Cash generated from operations was Rs 20.8793 crore, after working-capital movements, and direct tax paid was Rs 8.8643 crore.

The cash-flow statement recorded a Rs 15.3487 crore inventory movement and a Rs 70.87 lakh movement in trade receivables, loans, advances and other current assets in the September 2026 half year. Trade payables and liabilities contributed Rs 11.8511 crore, compared with Rs 23.484 crore in the corresponding prior-year period. The statement was prepared using the indirect method under Accounting Standard 3, or AS 3.

Net cash used in investing activities was Rs 3.0776 crore, compared with Rs 1.259 crore used in the September 2025 half year. Purchases of property, plant and equipment, including work in progress, were Rs 3.1651 crore, partly offset by Rs 9.09 lakh of sale proceeds and Rs 21,000 of interest received.

Financing activities used Rs 8.3822 crore in the September 2026 half year, against cash generated of Rs 22.5093 crore a year earlier. The reported movements included net proceeds of Rs 11.3723 crore from long-term borrowings, net repayment of Rs 12.3976 crore of short-term borrowings and finance costs of Rs 7.3569 crore. Combined cash flows resulted in a Rs 55.51 lakh increase in cash and cash equivalents, against a Rs 1.1267 crore decrease in the prior-year half.

What do Kabra Jewels' consolidated results cover?

Kabra Jewels' consolidated results for the half year ended September 30, 2026 include subsidiary Kabra & Nyati Jewels Private Limited, in which it held 55% effective September 28, 2026. Consolidated profit attributable to owners was Rs 10.7148 crore, while the minority-interest amount was negative Rs 7,000.

Kabra Jewels did not present comparative consolidated figures for the half year ended September 30, 2025, the second half of financial year 2025-26, or the year ended March 31, 2026. The company said the omission followed its investment in the subsidiary during the first half of financial year 2026-27, limiting period-to-period assessment of the new consolidated reporting base.

Conclusion

Kabra Jewels reported higher standalone revenue, profit before tax and net profit for the half year ended September 30, 2026, with net profit rising to Rs 10.7157 crore from Rs 6.5613 crore. Operating cash flow also turned positive at Rs 12.0149 crore, while inventory, receivables and long-term borrowings increased from March 31, 2026.

The next results will show whether the September 28, 2026 acquisition of a 55% interest in Kabra & Nyati Jewels Private Limited changes the consolidated earnings and balance-sheet profile. Comparability will remain limited until Kabra Jewels provides a further reporting period with consolidated figures following the investment.