Earnings call Transcript - Q1 2026

KA W eIC / ll Registered Office: 38/227-Z, Inkel Greens Edu City Karathode-Konampara Road Jewel Manufacturers Ltd. Panakkad Village, Pattarkadavu (Formerly Known as AJC Jewel ManufactuPrvte Lrtsd) Malappuram, Ernad, Kerala, India -676519 Ref: AJC/BSE/23/2026-27 Date: September 15, 2026 BSE Limited Phiroze Jeejeebhoy Towers, Dalal Street, Mumbai-400001 BSE Scrip Code: 544425 Sub: Earnings Conference Call transcript Dear Sir/Madam, Pursuant to Regulation 46(2) (oa) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we hereby inform the exchange that the transcript of audio call recording of the Earnings Call to discuss the Unaudited Financial Results for the quarter ended on 30th June, 2026 is attached herewith. We request you to take this on record. Yours faithfully, For AJC Jewel Manufacturers Limited, Ms. Reshmi N K Company Secretary and Compliance Officer © +919567916106 X info@ajcjewel.com @ www.ajcjewel.com ¢ AJC AJC Jewel Manufacturers Ltd Q1 FY27 Earnings Call Transcript Management: Mr. Ashraf P — Chairman & Managing Director Mr. Mahesh KV - CFO Moderator: Ladies and gentlemen, good afternoon and welcome to AJC, AJC Jewel Manufacturers Limited Q1 FY27 conference call hosted by Confideleap Partner. As a reminder, all the participants lines will be in the listen mode only and there will be an opportunity for you to speak. There will be an opportunity for you to ask the question at the presentations conclude. Please note that this conference is being recorded. Before we begin, | would like to point out that this conference may contain forward-looking statements about the company which are based upon the beliefs, opinions, expectations of the company as of date of the call. These statements do not guarantee the future performance of the company and it may not, it may involve risk, uncertainties that are difficult to predict. We represent the investor relations for AJC Jewel Manufacturers Limited. From the management team, we have Mr. AshraJfi, who is the Chairman and Managing Director, and Mr. Mahesh Ji is the CFO of AJC Jewels Manufacturer Limited. | would now like to hand over the call to Mr. AshrJia ffor his opening remarks. Thank you and over to you, Ashraf sir, Ashraf: Sorry, is it audible? Am | audible now? Moderator: Yes, sir. Yes, sir. Ashraf: Thank you, Shekhar. Good afternoon, everyone and thank you for joining AIC Jewel Manufacturers Q1 FY27 earnings conference call. We have started FY27 on a strong note with our business continuing to scale across our core B2B jewellery manufacturing operations as well as our newer growth initiatives. During the quarter, we continued to strengthen our customer network, adding 12 independent jewellery retailers while also expanding our engagement with established retail and corporate customers. We are seeing increasing relevance of our ability to offer customized and lower making charges, which allow us to serve a broader range of jewellery retailers while improving value addition. Technology and product development remain important pillars of our strategy. We have upgraded our B2B digital portal and ERP platform, and have established a dedicated design and innovation center to improve product development, customer engagement, and execution capabilities. Our focus remains on building a more technology-enabled and scalable manufacturing platform. Another area of progress has been Esther Jewels, our silver jewellery platform. We now have three stores operational in Kerala, and we are working towards developitnhigs into a scalable direct-to-consumer platform, with further expansion planned over time. | would also like to highlight the proposed acquisition of an 80% stake in AIC Jewel Manufacturers FZC, Sharjah, UAE. This is an important step in consolidating our international operations and strengthening our presence in the UAE. The proposed transaction is valued at up to Rs. 9.6 crore and is structured entirely through a non-cash swap. The UAE business reported revenue of Rs. 127.95 crore in calendar year 2025 and Rs. 72.46 crore during the Janutao rJuyne 2026. Subject to the required approvals and completion, this transaction will give AJC majority ownership and greater control over the UAE operating platforms. Our broader objective is to build an integrated jewellery platform combining manufacturing, design, technology, and international market access. We are therefore continuing to invest in manufacturing capabilities, expand our product categories, strengthen our domestic and international customer base and develop new channels such as e-commerce. Going forward, our focus will remain on sustainable growth, disciplined execution and improvitnhge scale and quality of our business. We believe these initiatives will help us build a more diversified and scalable platform over the coming years. With that, | would like to thank all our investors and stakeholders for their continued confidence in AIC. I will now hand over to our CFO Mr. Mahesh K V to take you through the financial performance of Q1 FY 27. Thank you. Mahesh: Thank you, Ashraf sir. Good afternoon everyone. | will take you through the financial performance of the company for the first quarter of FY27 and highlight the key financial trends during the period. For Q1 FY7, our consolidated revenue stood at 101.38 crore compared with 45.12 crore in the Q1 of FY26, representing a 124.69 percent year-on-year increase. EBITDA increased to 4.64 crore from 1.58 crore, while PAT increased to 2.38 crore from 0.57 crore. Improvement in profitability was also reflected in our margins. EBITDA margin Increased to 4.58% from 3.5%, while PAT margin improved to 2.35% from 1.26%. EPS for the quarter stood at 3.94 compared with 1.26 in the quarter 1 of financial year 26. From a financial management perspective our focus continues to be on supporting the growth of the business while maintaining discipline in working capital, cost management and capital allocation. As the business scales we are also investing in manufacturing capabilities, technology and new product categories. These investments are being undertaken with a view to building capacity for future growth while maintaining focus on the operating efficiency. On the financial side we will continue to focus on improving the quality of earnings, strengthening of operation efficiencies and ensuring that growth is supported by disciplined financial management. | think there is a technical issue, is it audible right now? Moderator: Yes sir, you are audible. You can continue. Mahesh: Okay, thank you. The company has also outlined a broader growth roadmap involving capacity expansion, domestic and international expansion and product diversification. Our approach will remain focused on executing these initiatives in a measured manner while maintaining financial discipline. That concludes my opening remarks. I will now hand the call back to Shekhar for the question-and-answer session. Thank you. Moderator: Thank you, Ashraf sir and Mahesh sir. Now participants are requested to raise their hands for their questions. We will wait for 2 minutes for the queue to form. Ashraf: Sorry? Moderator: Sir, we will wait for the queue to form and then we'll start the Q&A session. Ashraf: Okay. Moderator: Yeah, thank you very much. Now we'll begin the question-and-answer session. The first question is from the line of Mr. Sahil Ji. You can unmute yourself and ask your question. Sahil: Hi, sir. congratulations on a very good set of numbers, actually. So, my first question is, what are our plans with the recent acquisition we made? Like, what is the total if you could elaborate Ashraf: Uh you are asking about uh regarding the recent acquisition proposed? Sahil: Yes. In September. Ashraf: Yeah. Ah yes yes. So, we already announced that acquisition. We are uh uh taking a 80% stake of uh our promoter entity, AJC Jewal Manufactures FZC which is in UAE Sharjah. And that company is doing uh very similar bus [Showing first 8,000 characters — download PDF for full document]