Ashapuri Gold Ornament Ltd — Important, 17-02-2026: Company Update

Ashapuri Gold Ornament reported robust Q3 FY'26 performance with PAT up 7.76% and EBITDA up 22.01%, while margins also improved. Despite significant gold price volatility leading to a 29% quarter-on-quarter volume degrowth, the company expects demand to recover as prices stabilize. Strategically, it achieved success in 18-carat handmade jewelry, securing new orders from national chains and gaining a first-mover advantage. The company is actively onboarding national jewelry chains, exploring 14-carat and machine-made options, and will aggressively push into the high-margin Diamond and Polki segments. An NSE main board listing application is under scrutiny.