Shringar House Q4 FY26: Revenue jumps 106.5% to ₹725.6 cr

Results snapshot: sharp rise in revenue and PAT

Shringar House of Mangalsutra Limited (SHOML) reported audited financial results for the quarter and year ended March 31, 2026, showing strong gains in both revenue and profitability in Q4 FY26. Revenue from operations for Q4 FY26 came in at ₹725.6 crore, up from ₹351.4 crore in Q4 FY25. Profit after tax (PAT) rose to ₹34.0 crore in Q4 FY26 compared with ₹15.2 crore a year earlier. The company also disclosed gross profit of ₹64.5 crore and EBITDA of ₹44.7 crore for the quarter. The update positions Q4 FY26 as SHOML’s strongest quarter in FY26 on reported numbers.

Q4 FY26 in detail: growth across key profit lines

The company said Q4 FY26 revenue from operations increased 106.5% year-on-year to ₹725.6 crore. On profitability, gross profit stood at ₹64.5 crore, an increase of 122.9% year-on-year, while EBITDA rose 93.7% year-on-year to ₹44.7 crore. PAT for the quarter was reported at ₹34.0 crore, up 123.5% from ₹15.2 crore in Q4 FY25. In the company commentary, the strong growth was attributed primarily to favourable movements in gold prices and improved margins across levels. Separately, a transcript snippet also mentioned gross profit margin at 8.9%, expanded by 65 basis points year-on-year.

QoQ trend: fourth straight quarter of revenue expansion

Beyond the year-on-year jump, SHOML posted sequential growth in Q4 FY26 as well. Net sales increased 10.12% quarter-on-quarter from ₹658.86 crore in Q3 FY26 to ₹725.56 crore in Q4 FY26, as presented in the quarterly summary table shared in the material. PAT rose 12.88% sequentially to ₹34.01 crore from ₹30.13 crore in Q3 FY26. The same quarterly dataset shows adjusted EPS at ₹3.53 in Q4 FY26 versus ₹3.12 in Q3 FY26. In another quarterly schedule, operating profit for Q4 FY26 was ₹44.74 crore, compared with ₹40.22 crore in Q3 FY26.

FY26 performance: revenue at ₹2,245.8 crore, PAT at ₹115.5 crore

For the full year ended March 2026, SHOML reported revenue from operations of ₹2,245.8 crore, compared with ₹1,426.8 crore in FY25. The year-on-year revenue growth for FY26 was stated at 57.1%. Full-year PAT rose to ₹115.5 crore from ₹61.1 crore in FY25, as per the reported figures. A transcript excerpt also cited full-year gross profit at ₹212.1 crore, and another line mentioned gross profit margin increasing by 141 basis points to 9.4% for the full year.

How FY26 unfolded quarter by quarter

The quarterly schedule included in the material indicates that FY26 saw revenue scaling through each quarter. Net sales were ₹332.61 crore in Jun 2025 (Q1 FY26), ₹528.8 crore in Sep 2025 (Q2 FY26), ₹658.86 crore in Dec 2025 (Q3 FY26), and ₹725.56 crore in Mar 2026 (Q4 FY26). Over the same quarters, profit after tax was ₹28.51 crore, ₹22.85 crore, ₹30.13 crore, and ₹34.01 crore respectively. The narrative also stated that quarterly revenue rose from ₹332.61 crore in Q1 FY26 to ₹725.56 crore in Q4 FY26, a sequential expansion of 118.13% over three quarters. This dataset frames Q4 FY26 as the top-line high point for the year.

Key numbers table: quarter and full-year comparison

Stock context: price, valuation cues, and IPO reference

In the market data included with the results note, SHOML was shown trading around ₹212.75, with a trailing twelve-month P/E ratio of 22x. Another line in the provided material listed the current share price as ₹212.97. The same note also mentioned a fair value estimate of ₹180-190 per share, implying 15-18% downside from the cited trading level. Separately, background information stated the company listed on September 17, 2025, debuting at ₹188.50 on NSE and ₹187.70 on BSE, versus an IPO issue price of ₹165. These figures provide the immediate context investors are using to map strong earnings growth against the stock’s current valuation.

What the update signals for the jewellery retail segment

The quarterly pattern presented shows sustained revenue growth through FY26, with the fourth consecutive quarter of expansion highlighted in the narrative. Management commentary in the material linked the quarter’s performance to favourable gold price movements and improved margins, suggesting that both price dynamics and operational execution influenced reported growth. The data packet also referenced ROE in two places: an “average ROE” of 26.58% in the narrative note and an ROE figure of 36.2% in a separate metrics snippet. While the sources present ROE differently, both point to profitability ratios being central to how the market is reading the results. For investors tracking jewellery retail, the combination of sharp year-on-year growth and sequential improvement in Q4 FY26 is a key feature of the FY26 performance disclosed.

Conclusion: strong Q4 and higher full-year base

Shringar House of Mangalsutra closed FY26 with Q4 revenue of ₹725.6 crore and PAT of ₹34.0 crore, sharply higher than the year-ago quarter. For the full year, revenue rose to ₹2,245.8 crore and PAT increased to ₹115.5 crore, lifting the company’s earnings base compared with FY25. The quarterly schedule shows revenue building each quarter across FY26, culminating in the highest quarterly sales figure in Q4. With audited numbers now on record for the year ended March 31, 2026, the next market focus is likely to remain on whether the margin profile and sequential momentum shown in FY26 continue in subsequent quarters.