Shanti Gold International posted strong half-year results with revenue jumping to Rs 1,463.33 crore from Rs 722.85 crore. The company also completed a rights issue, expanded into Dubai with a new subsidiary, and restated comparative figures due to a change in inventory valuation.
Shanti Gold International H1 Profit Soars to Rs 80 Crore
Revenue doubled to Rs 1,463.33 crore, while earnings per share rose to Rs 10.96.
Reader Takeaway: Revenue growth and international expansion show strength, though accounting changes and equity dilution via rights issue require investor caution.
What just happened
Shanti Gold International reported a strong performance for the half-year ending September 30, 2026. The company’s revenue from operations surged to Rs 1,463.33 crore, up from Rs 722.85 crore in the same period last year. Profit for the period climbed to Rs 80.04 crore, compared to Rs 60.36 crore previously. Basic and diluted EPS rose to Rs 10.96 from Rs 10.05.
Key Developments
On May 13, 2026, the company incorporated a new wholly-owned subsidiary, 'Shanti Gold Jewellery Trading L.L.C S.O.C', based in Dubai to manage trading operations in gold and precious stones. Additionally, the company completed a rights issue on August 14, 2026, allotting 46.45 lakh equity shares at Rs 215 each to bolster working capital.
Accounting and Audit Updates
The company shifted its inventory valuation method from FIFO to Weighted Average Cost (WAC) effective April 1, 2024, resulting in restated figures for 2025. Statutory auditors J. Kala & Associates provided an unmodified opinion. They noted that financial information for the new Dubai subsidiary was provided by management rather than an external auditor, though they deemed this immaterial to the Group's overall results.
What to track next
Investors should monitor the impact of the WAC accounting shift on future margins and the operational progress of the new Dubai trading unit.