Manoj Vaibhav Gems Reports FY26 Revenue Growth

Revenue for FY26 reached Rs 2,744.03 crore, up from Rs 2,384.02 crore in the previous year. Profit After Tax rose by 14.49% to Rs 114.98 crore, supported by a 12.59% increase in EBITDA.

Reader Takeaway: Strong revenue and profit growth indicate operational health, but the lack of dividends requires investor caution.

What just happened

Manoj Vaibhav Gems 'N' Jewellers Limited released its financial results for the year ended March 31, 2026. The company achieved an EPS of Rs 23.54 for the year. Additionally, the company announced its 37th Annual General Meeting for September 25, 2026, where it will seek shareholder approval for the re-appointment of key leadership, including Chairperson Mrs. Bharata Mallika Ratna Kumari Grandhi.

Why this matters

The steady financial performance reflects the company’s ability to drive footfalls, which reached nearly 7 lakh for the year across 21 showrooms. The decision to skip dividends signals a management focus on liquidity and capital expenditure for regional expansion. Investors should note the company’s ongoing legal disputes, which involve tax demands totaling over Rs 12 crore across various assessment years.

Risks to watch

The primary risks include pending tax litigation in the Andhra Pradesh High Court and appeals before the Commissioner of Income Tax. These liabilities represent cash outflows that could impact future working capital if the rulings are not favorable.

Context metrics

The company currently operates 1,14,323 square feet of retail space across its footprint in Andhra Pradesh and Telangana. Growth initiatives like the 'Gold on Wheels' mobile retail concept aim to broaden market reach beyond traditional showroom models.