RBZ Jewellers Limited — Investor Meet, 19-05-2026: Analysts/Institutional Investor Meet/Con. Call Updates

RBZ Jewellers reported strong Q4 FY26 results with revenue up 38% YoY to INR190 Cr, EBITDA up 46% to INR21 Cr, and PAT up 36% to INR12 Cr. For the full year FY26, revenue grew 20% to INR637 Cr, with EBITDA up 43% to INR92 Cr and PAT up 41% to INR55 Cr. Management noted healthy performance driven by festive demand, estimating inventory gains of INR10-12 Cr for FY26.

The company plans to expand its retail presence in Gujarat, with Surat and Rajkot showrooms targeted to open by Q2 FY27, and two mid-sized stores in Eastern Ahmedabad/Gandhinagar within the calendar year. Each large store will require INR125-150 Cr inventory. Current manufacturing capacity utilization is 50-55%, with no immediate capex planned. Management expressed optimism about capitalizing on Gujarat's untapped market potential for organized jewellery, focusing on their strength in antique bridal gold jewellery, while acknowledging short-term market dynamics from gold price volatility and government comments. The company maintains a conservative inventory cushion and aims for a debt-to-equity ratio of 1:1 to 1:1.5.