Lalithaa Jewellery profit reaches Rs 253.047 crore on sales growth

Lalithaa Jewellery Mart Limited reported consolidated profit after tax of Rs 253.047 crore for the quarter ended September 30, 2026, versus Rs 242.894 crore a year earlier, as revenue from operations rose 7.5% to Rs 7,019.560 crore. Lalithaa Jewellery listed its equity shares on August 24, 2026, during the quarter.

How did Lalithaa Jewellery perform in the September quarter?

Lalithaa Jewellery increased total income to Rs 7,023.476 crore in the quarter ended September 30, 2026, from Rs 6,534.070 crore in the corresponding 2025 quarter. Revenue from operations was Rs 7,019.560 crore, up Rs 489.450 crore from Rs 6,530.110 crore, while other income declined marginally to Rs 3.916 crore from Rs 3.964 crore.

Lalithaa Jewellery’s profit after tax rose by Rs 10.153 crore from Rs 242.894 crore in the September 2025 quarter. Profit was also higher than Rs 210.885 crore reported in the quarter ended June 30, 2026, an increase of Rs 42.162 crore. Basic and diluted earnings per share were Rs 4.80 for the September 2026 quarter, compared with Rs 4.84 a year earlier, reflecting the increase in paid-up share capital following the initial public offering.

What changed in Lalithaa Jewellery’s costs and half-year profit?

Lalithaa Jewellery’s total expenses rose by Rs 469.905 crore year on year to Rs 6,679.250 crore in the September 2026 quarter, less than the Rs 489.406 crore increase in total income. Cost of materials consumed declined to Rs 4,640.564 crore from Rs 4,737.600 crore, while purchases of stock-in-trade increased to Rs 1,967.899 crore from Rs 1,700.186 crore, changing the reported mix of merchandise costs.

Finance costs rose to Rs 68.141 crore from Rs 50.745 crore, employee benefits expense increased to Rs 84.742 crore from Rs 72.295 crore, and depreciation and amortisation reached Rs 32.910 crore from Rs 30.354 crore. For the half year ended September 30, 2026, total income increased to Rs 13,058.243 crore from Rs 11,327.931 crore, but profit after tax declined to Rs 461.264 crore from Rs 507.640 crore. Half-year finance costs were Rs 130.476 crore, compared with Rs 100.576 crore a year earlier.

Why did Lalithaa Jewellery use cash in operating activities?

Lalithaa Jewellery used Rs 702.494 crore in operating activities during the half year ended September 30, 2026, compared with cash use of Rs 77.865 crore in the prior-year period. Operating profit before working-capital changes was Rs 816.120 crore, below Rs 838.397 crore a year earlier, and net income tax paid rose to Rs 127.969 crore from Rs 22.351 crore.

Inventory was the largest disclosed operating cash outflow, increasing by Rs 894.424 crore in the latest half year. Trade receivables increased by Rs 191.607 crore, while other current liabilities fell by Rs 367.316 crore, compared with an increase of Rs 428.880 crore in the September 2025 half year. These movements were partly offset by a Rs 129.704 crore increase in trade payables.

Lalithaa Jewellery’s closing balance sheet also showed inventories at Rs 10,710.700 crore on September 30, 2026, up from Rs 9,816.276 crore at March 31, 2026. Trade receivables rose to Rs 406.299 crore from Rs 214.692 crore, and current borrowings increased to Rs 1,811.037 crore from Rs 1,577.272 crore. Total current liabilities were Rs 7,645.845 crore, compared with Rs 7,578.412 crore at the financial year end.

How has Lalithaa Jewellery deployed its IPO proceeds and disclosed corporate changes?

Lalithaa Jewellery completed a fresh issue of 59,732,655 equity shares at Rs 201 each during the September 2026 quarter, raising Rs 1,200 crore, alongside a Rs 500 crore offer for sale by selling shareholders. Paid-up equity share capital increased to Rs 279.855 crore from Rs 249.989 crore. The company used Rs 750.327 crore of fresh-issue proceeds by September 30, leaving Rs 449.673 crore unutilised.

Of the Rs 1,033.231 crore planned for setting up 10 new stores, Lalithaa Jewellery had used Rs 597.978 crore and retained Rs 435.253 crore as unutilised at September 30. It had used Rs 84.520 crore of the Rs 84.582 crore allocated to general corporate purposes and Rs 67.829 crore of the Rs 82.187 crore planned for IPO expenses. The unutilised amount included Rs 414 crore temporarily invested in fixed deposits, Rs 31.032 crore in a current account and Rs 4.641 crore retained in escrow.

Lalithaa Jewellery’s board approved a proposed amalgamation of wholly owned subsidiaries Asita Jewellery Manufacturing Private Limited and Centigrade Apparels Private Limited on November 11, 2026, with effect from April 1, 2026. Separately, Lalithaa Jewellery paid Rs 17.283 crore during the half year towards acquiring shares in Lalithaa Jewellery (M) SDN BHD. The shares were allotted or transferred on October 28, 2026, after the September 30 reporting date, and the investee was not consolidated for the half year.

Conclusion

Lalithaa Jewellery recorded higher September-quarter revenue and profit, with revenue from operations rising Rs 489.450 crore year on year and profit after tax increasing Rs 10.153 crore. The half-year comparison was different: profit after tax fell Rs 46.376 crore despite a Rs 1,730.312 crore increase in total income, while inventory and receivables contributed to Rs 702.494 crore of operating cash use.

The next disclosed items to watch are deployment of the Rs 435.253 crore still unutilised for 10 new stores, use of the remaining Rs 449.673 crore in IPO proceeds, and progress of the proposed amalgamation approved on November 11, 2026. The October 28, 2026 transfer of Lalithaa Jewellery (M) SDN BHD shares is also a post-reporting-date development disclosed by Lalithaa Jewellery.