Moksh Ornaments Q4 FY26: Sales up 56% YoY to ₹261 cr

What Moksh Ornaments reported for March 2026

Moksh Ornaments has reported its standalone quarterly numbers for the March 2026 quarter, showing a strong jump in revenue and a moderate increase in profit. Net sales came in at ₹261.38 crore for Mar’26, up 56.2% from ₹167.33 crore in Mar’25. Quarterly net profit rose to ₹1.85 crore, compared with ₹1.30 crore a year earlier, a growth of 42.36%. EBITDA was reported at ₹3.77 crore for Mar’26, up 27.8% from ₹2.95 crore in Mar’25. The results add a new data point to a year where quarterly performance has shown sharp swings in both revenue and margins.

Revenue growth stands out, but profitability remains thin

The topline jump is the headline, with net sales rising sharply year-on-year for the March quarter. At the same time, the rise in EBITDA and profit is smaller than the revenue growth rate, indicating that the quarter also carried meaningful costs alongside the higher activity. The data shared for the quarter shows “Purchase of Traded Goods” at ₹218.51 crore in Mar’26, versus ₹187.27 crore in Mar’25. The “Increase/Decrease in Stocks” line stood at ₹38.11 crore in Mar’26, compared with -₹24.71 crore in Mar’25. Employees cost was reported at ₹0.40 crore in Mar’26, while depreciation was ₹0.04 crore.

EPS update and what it indicates

Moksh Ornaments’ EPS for the March 2026 quarter was reported at ₹0.10. The note also states that EPS decreased to ₹0.10 in Mar’26, though the earlier comparative EPS number is not fully provided in the text. Separately, EPS (TTM) is shown as ₹1.05. These figures are typically tracked closely by retail investors because they influence headline valuation metrics and comparisons across quarters.

Quarter-on-quarter context: Dec 2025 versus Mar 2026

The quarterly table provided also includes Dec’25 numbers, which help frame the scale of the March quarter move. Net sales were ₹115.20 crore in Dec’25 and ₹261.38 crore in Mar’26, showing a large sequential increase in reported revenue. In the same table, “Purchase of Traded Goods” is ₹118.42 crore for Dec’25 versus ₹218.51 crore for Mar’26. Inventory movement also flipped, with “Increase/Decrease in Stocks” at -₹9.37 crore in Dec’25 versus ₹38.11 crore in Mar’26. With only partial cost lines visible in the shared extract, the full set of expense drivers for the quarter is not available here.

Key standalone quarterly numbers at a glance

Stock price points mentioned in the update

On the market side, Moksh Ornaments shares closed at ₹13.54 on May 07, 2026 (NSE), as stated in the note. Another price point cited is ₹13.44 as of February 9, 2026. The same section notes the stock was 19.28% below its 52-week high of ₹16.65 and 16.26% above its 52-week low of ₹11.56 at that time. These reference levels matter because they show how the stock has traded despite quarterly volatility in revenue and profits.

Earlier FY26 quarters showed a revenue-profit divergence

The text also highlights an earlier quarter where profitability held up even as sales fell. For Q3 FY26 (Dec’25), revenue is shown at ₹115.20 crore with a QoQ change of -24.06%. Net profit for the same quarter is shown at ₹2.83 crore, up 2.54% QoQ, and a year-on-year increase of 14.11% is mentioned. PAT margin for Dec’25 is listed at 2.46%, and operating margin at 3.85%, with sequential improvements of 64 bps and 92 bps, respectively. This combination points to cost and margin management playing a significant role in quarterly outcomes.

Annual revenue scale and longer-term growth indicators

A full-year revenue figure is also mentioned: total revenue from operations of ₹582.5151 crore during the year under review, compared with ₹450.9591 crore in the previous year (both converted from lakhs to ₹ crore). Separately, a Profit & Loss snapshot for 12 months shows net sales of ₹579.90 crore for Mar’25 versus ₹449.20 crore for Mar’24, and total income of ₹582.52 crore for Mar’25 versus ₹450.96 crore for Mar’24. Profit and loss for the year is listed at ₹8.43 crore for Mar’25 versus ₹6.25 crore for Mar’24. The note also cites longer-horizon growth and efficiency indicators such as sales growth of 29.0963%, profit growth of 34.78%, ROE of 10.0292%, ROCE of 13.3%, and debt-to-equity of 0.2897.

Market impact: what the numbers change for investors

The March 2026 quarter strengthens the near-term revenue trajectory, given the 56.2% year-on-year jump in sales to ₹261.38 crore. But profitability remains modest in absolute terms, with quarterly net profit at ₹1.85 crore and EBITDA at ₹3.77 crore. Investors tracking quarterly consistency may compare Mar’26 with Dec’25, where revenue was ₹115.20 crore but net profit was higher at ₹2.83 crore, as per the data provided. The stock price references of ₹13.44 (Feb 9, 2026) and ₹13.54 (May 7, 2026) suggest that the market, at least across those points, did not re-rate the stock sharply in line with the revenue surge alone.

Why this quarter matters for the jewellery trading business model

Moksh Ornaments’ quarterly line items show that traded goods purchases are a large component of the cost structure in the quarters shown. In Mar’26, purchase of traded goods was ₹218.51 crore against net sales of ₹261.38 crore, underlining the low-margin nature typical of trading-linked models. Inventory movements can also meaningfully affect reported performance, and the “Increase/Decrease in Stocks” line was ₹38.11 crore in Mar’26 compared with -₹24.71 crore in Mar’25. The presence of these swings helps explain why revenue and profitability do not always move in the same direction across quarters.

Conclusion

Moksh Ornaments’ standalone Mar’26 results show revenue rising to ₹261.38 crore, with net profit at ₹1.85 crore and EBITDA at ₹3.77 crore, alongside an EPS of ₹0.10 for the quarter. With the stock last noted at ₹13.54 on May 07, 2026, investors are likely to track whether the higher sales base translates into more stable profit performance across upcoming quarters.