Earnings Call Transcript - Q1FY27

100% Hallmarked Jewellery Date: August 28, 2026 BSE Limited Phiroze Jeejeebhoy Towers Dalal Street, Mumbai 400 001 Ref: SCRIP: 543953|KHAZANCHI|INE0OWC01011 Dear Sir/Madam, Subject: Transcript of Earnings Call for Q1FY27 Pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, copy of the transcript of the earnings conference call held on Tuesday, August 25, 2026 on the Unaudited Financial results and operations of the Company for Q1FY27, is enclosed. The said transcript is also available on the Company’s website at https://www.khazanchi.co.in/files/Concall%20Transcript%20Q1FY27.pdf Kindly take the same on your records. For Khazanchi Jewellers Limited Sakshi Jain Compliance Officer & Company Secretary Membership No.: A68478 Reg. Off.: No.130, NSC Bose Road, Sowcarpet, Chennai-600 001, Branch Off.: No.286/95, NSC Bose Road, Sowcarpet, Near Walltax Road, Chennai-600 001 Ph: 916 916 22 24 | Email Id: info@khazanchi.co.in | CIN: L36911TN1996PLC034918 | Website: www.kjpl.in, www.khazanchi.co.in “Khazanchi Jewellers Limited Q1 FY27 Results Conference Call” August 25, 2026 MANAGEMENT: MR. RAJESH MEHTA – CHAIRMAN AND JOINT MANAGING DIRECTOR – KHAZANCHI JEWELLERS LIMITED MR. VIKAS MEHTA – CHIEF FINANCIAL OFFICER – KHAZANCHI JEWELLERS LIMITED MODERATOR: MR. PARTH ACHARYA – KIRIN ADVISORS Page 1 of 14 Khazanchi Jewellers Limited August 25, 2026 Moderator: Ladies and gentlemen, good day, and welcome to the Q1 FY27 Results Conference Call of Khazanchi Jewellers Limited hosted by Kirin Advisors. As a reminder, all participant lines will be in the listen-only mode and there will be an opportunity for you to ask questions after the presentation concludes. Should you need assistance during the conference call, please signal an operator by pressing star and then zero on your touchtone phone. Please note that this conference is being recorded. I now hand the conference over to Mr. Parth Acharya from Kirin Advisors. Thank you, and over to you, sir. Parth Acharya: Thank you. On behalf of Kirin Advisors, I welcome you all to the conference call of Khazanchi Jewellers Limited. From the management team, we have Mr. Rajesh Mehta, Chairman and Joint Managing Director; Mr. Vikas Mehta, Chief Financial Officer. With that, I hand over the call to Mr. Rajesh Mehta. Over to you, sir. Thank you. Rajesh Mehta: Yes. Hello, everyone. A very happy good afternoon, and thank you for joining us today. It's our pleasure to welcome you to Khazanchi Jewellers Limited Q1 FY Earnings Call. For all those joining us for the first time, Khazanchi Jewellers is a legacy jewellery company with over 5 decades of experience across B2B and B2C segment. Over the years, we have built a strong presence through our design capabilities, traditional craftsmanship, stringent quality standards and dependable execution across gold, diamond and precious stone jewellery. Q1 FY27 has been a strong start to the financial year with healthy momentum across both our B2B and B2C operation. We are particularly encouraged by the progress following the launch of our flagship showroom and the implementation of dedicated ERP systems. The strong customer response and increasing retail scale reinforce our confidence in Khazanchi's growth strategy. Coming to our Q1 FY27 financial performance. Revenue increased by 45% year-on-year to INR586.36 crores versus INR403.84 crores in Q1 FY26. EBITDA increased by 89% year-on- year to INR39.98 crores versus INR21.15 crores. EBITDA margins improved by 158 basis points to 6.82%. Profit after tax increased by 84% year-on-year to INR27.83 crores versus INR15.15 crores. PAT margins improved by 99 basis points to 4.75%. EPS increased by 82.35% year-on-year to INR11.16. The fact that EBITDA and PAT grew considerably faster than revenue during the quarter is particularly encouraging. It reflects an improving business mix, operating leverage and benefits of scale as we continue to expand the business. And now I'm going to recap our growth journey since listing. I am very happy and delighted to share that your company has successfully completed 3 years since its listing on the BSE SME platform in August 2023 and is now progressing towards migration to the main board, including Page 2 of 14 Khazanchi Jewellers Limited August 25, 2026 a proposed listing on the main board of both BSE and NSE, subject to necessary regulatory approvals and fulfillment of all applicable requirements. Over this period of 3 years, our revenue grew mix 5x from INR481 crores to FY23 to INR2,049 crores in FY26, while our PAT grew 10x from INR8 crores to INR89 crores. The progress we have achieved over the past 3 years reflect the continued confidence of our shareholders in the management and strategy of the company, the trust of our customers and business partners and the sustained commitment of our employ. We thank all our stakeholders for their support, and we build the next phase of Khazanchi's growth story. Your company is poised to achieve a revenue mark of INR5,000 crores by 2030. We are targeting annual revenue growth of approximately 25% to 30%, supported by our strong B2B foundation, expanding B2C and digital ecosystem and value creation across every segment of the business. We have always delivered more than our projections. Our growth outlook on our B2B business. Our B2B business continues to provide scale, stability and consistency to the company. Over the years, we have built strong and enduring relationships with the jewellery houses, wholesalers and organized retailers across India. These relationships are supported by our ability to meet large volume requirements, offer differentiated designs, maintain stringent quality standards and ensure reliable and timely execution. Going forward, our focus will be on strengthening and broadening our geographical reach while expanding our client base across existing and new markets. We aim to deepen engagement with existing customers by increasing our share of business and product offerings while also adding new customers across geographies. This will enable us to grow both the breadth of our customer network and the depth of our relationship, reinforcing the long-term scalability and resilience of our B2B business. Now growth outlook for our B2C segment. B2C business will be the key growth driver going forward, and we have a very aggressive plan to launch 8 to 10 stores over the next 3 to 4 years across geographies. This store will be a combination of our flagship store and premium boutique minimal jewellery stores for minimal jewellery and latest lightweight design. Our retail expansion is aimed to accelerating our B2C growth and increasing the B2C contribution to approximately 40% of overall revenue by FY 2030. I would also like to highlight an important development in Khazanchi's capital market journey. At the recently concluded Annual General Meeting, our shareholders approved the resolution for migration from the BSE SME platform to the main board of both the exchanges, BSE and NSE. This remains subject to necessary regulatory approvals and fulfillment of all applicable requirements. The proposed migration comes to an important stage in the company's journey following a significant expansion in scale and profitability since our BSE SME listing in August 2023. Looking ahead, we will continue to strive and deliver beyond our conservative outlook by strengthening our B2B business, expanding our B2C presence and increase the contribution for higher-value categories, particularly natural diamond jewellery, enhance our product and brand portfolio and explore opportunities in silver jewellery category. Page 3 of 14 Khazanchi Jewellers Limited August 25, 2026 Overall, our aim is to build Khazanchi into a stronger consumer-facing jewellery brand while retaining the scale, relationship and execution capabilities developed over several decades. We sincerely thank our shareholders for their continued trust, support and c [Showing first 8,000 characters — download PDF for full document]