Kabra JewelsShare price, financial results, shareholding and management
- Market cap
- ₹143 cr
- Stock P/E
- 5.8peers 13.2
- Book value
- ₹100
- Price to book
- 1.36
- EV / operating profit
- 6.1
- Market cap to sales
- 0.53
- ROCE · FY26
- 20.4%
- ROE · FY26
- 26.7%
- ROE, 3-year average
- 27.0%
- Operating margin · FY26
- 16.9%peers 10.0%
- Sales growth, 3 years
- 30.1%
- Profit growth, 3 years
- 83.6%
- Debt to equity
- 1.48peers 0.34
- Borrowings
- ₹155 cr
- Interest cover
- 3.9×
- Cash from business / op. profit
- -91%
- Debtor days
- 5
- Pledged
- 0.00%
- Promoter holding
- 62.75%
- Change in promoter holding
- 0.00 pts
- Shareholders
- 958
- 52-week high / low
- ₹163 / ₹72
- Dividend yield
- 0.00%
- Face value
- ₹10
Tap or hover on any figure for what it means. Our arithmetic on reported figures, at the latest close.
Kabra Jewels share price chart
Close on 6 Nov 2026 · +3.70% on the day · Vol 51,000
Daily prices to 6 Nov 2026, adjusted for splits and bonuses. Closing prices only: check the exchange for the live price.
Share price returns
To the close of 6 Nov 2026
- 1 month
- +41.5%
- 3 months
- +34.7%
- 6 months
- +20.6%
- 1 year
- +29.2%
- Since IPO
- +6.3%
- Traded a day, 20 days
- ₹2.17 cr
- Taken for delivery
- 71%
Business growth
Sales and net profit, from the reported results
| Sales | Profit | |
|---|---|---|
| FY26 on FY25 | +28% | +117% |
| 3 years, a year | +30% | +84% |
| Latest half, H2 FY26 | +28% | +113% |
About Kabra Jewels: business, products and customers
Kabra Jewels runs KK Jewels showrooms in Ahmedabad selling gold, diamond and silver jewellery, coins and silver articles to families buying for weddings and festivals. Its shares trade on NSE Emerge.
Kabra Jewels started in Ahmedabad in 2010 selling loose solitaire diamonds and now runs seven KK Jewels showrooms in the city, each aimed at one kind of buyer: bridal, diamond, gold, silver and light diamond jewellery. Its own team designs the pieces and local artisans make them, while fast-moving designs are bought ready from vendors; all showrooms are on lease.
Customers are individual shoppers, mostly families buying for weddings and festivals, and the company says Gujarati families living abroad add to sales in the winter wedding season. In FY26 gold jewellery and pure gold gave most of the sales, silver articles grew fast and diamond sales fell; in June 2025 the company said lab-grown stones had cut demand and prices for natural diamonds.
Read more about the business
What is new: a gold and silver showroom at Science City opened in May 2025, a website for silver jewellery went live in October 2025, and two executive directors and an independent director joined the board. The 2026 AGM notice sought approval for up to ₹100 cr of dealings with Kabra & Nyati Jewels, a jewellery company 55% owned by director Jyothi Kailash Kabra.
From the prospectus (January 2025), the FY26 annual report, the June 2025 investor presentation and earnings call, and the company's exchange filings of September 2025, October 2025 and July 2026.
Read the deeper study ↓In its favour
- Sales have grown fast: 30% a year over three years.
- It earns a high return on the money it uses: ROCE 20% in FY26.
- The promoters own a large part of the company: 62.75%.
To watch
- The ₹73.1 cr of loans from directors at March 2026, and whether they are repaid or turned into other funding (Annual report FY26, p.104).
- Dealings with Kabra & Nyati Jewels under the limit of up to ₹100 cr put to the 29 September 2026 AGM (Annual report FY26, p.44 and p.58).
- The ₹241.3 cr of stock held at March 2026 against sales, and what a fall in gold prices would do to it (Annual report FY26, p.97).
- Sales from the Science City showroom opened in May 2025 and the silver website launched in October 2025 (Earnings call, June 2025, p.5; Press release, 16 Oct 2025, p.2).
- Customers take longer to pay than before: 5 days in FY26, against 4 in FY22.
From the company's documents first, then the reported figures read by fixed rules, the same for every company. Facts, not a view on the shares.
Kabra Jewels revenue and profit growth
Half-yearly results · Profit and lossSales have grown fast. Last year profit grew faster than sales, so the company kept more from each rupee of sales.
SME companies report every six months. In the latest half, sales were higher than in the same half a year before. Profit grew faster than sales.
Kabra Jewels half-yearly results
SME companies report every six months · ₹ crore
| H1FY25 | H2FY25 | H1FY26 | H2FY26 | |
|---|---|---|---|---|
| Sales | 78 | 133.02 | 98.40 | 170.52 |
| Expenses | 68 | 116.27 | 84.20 | 139.26 |
| Operating profit | 10 | 16.75 | 14.20 | 31.26 |
| OPM | 13.0% | 12.6% | 14.4% | 18.3% |
| Interest | 5 | 5.36 | 4.96 | 6.34 |
| Depreciation | 1 | 0.73 | 0.92 | 0.84 |
| Profit before tax | 4 | 10.85 | 8.67 | 24.54 |
| Net profit | 3 | 8.53 | 6.56 | 18.21 |
Kabra Jewels profit and loss
Full years to March, FY22 to FY26 · ₹ crore, consolidated where reported
| FY22 | FY23 | FY24 | FY25 | FY26 | |
|---|---|---|---|---|---|
| Sales | 112 | 122 | 163 | 210.88 | 268.92 |
| Expenses | 100 | 110 | 142 | 184.29 | 223.46 |
| Operating profit | 12 | 12 | 21 | 26.60 | 45.46 |
| OPM | 10.0% | 10.0% | 13.0% | 12.6% | 16.9% |
| Other income | 0 | 0 | 0 | 0.33 | 0.82 |
| Interest | 4 | 5 | 8 | 10.52 | 11.30 |
| Depreciation | 1 | 1 | 1 | 1.44 | 1.77 |
| Profit before tax | 7 | 6 | 12 | 14.97 | 33.21 |
| Tax rate | 28.6% | 33.3% | 25.0% | 23.8% | 25.4% |
| Net profit | 5 | 4 | 9 | 11.41 | 24.77 |
| EPS ₹ | 117.39 | 95.87 | 195.65 | 14.36 | 23.62 |
| Dividend payout | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
The years to FY24 come rounded to the nearest crore in the source.
Earnings per share before FY25 is on the share count of that time, before later bonus or share issues, so it does not compare with the years after.
Kabra Jewels profitability
Margins and returns on capitalLast year the company kept more from each rupee of sales than the year before. It earns a high return on the money it uses.
Operating margin, every year
Per cent of sales kept before interest, depreciation and tax
| FY22 | FY23 | FY24 | FY25 | FY26 | |
|---|---|---|---|---|---|
| Operating margin | 10.0% | 10.0% | 13.0% | 12.6% | 16.9% |
| Tax rate | 28.6% | 33.3% | 25.0% | 23.8% | 25.4% |
| ROCE | · | 14.1% | 18.8% | 17.2% | 20.4% |
| ROE | · | 20.6% | 34.0% | 20.4% | 26.7% |
| Dividend payout | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
Kabra Jewels debt and cash flow
Balance sheet · Cash flow · Working capitalThe company's own money, its net worth, has grown fast. It borrowed much more last year. Its loans are now larger than its own money. Last year the business used more cash than it brought in. It spent more on assets and investments than the business brought in, and raised the rest from loans or shares. Customers pay faster than they did in FY24, which frees up the company's money.
Bars below the line are cash going out.
Kabra Jewels balance sheet
At each 31 March · ₹ crore
| FY22 | FY23 | FY24 | FY25 | FY26 | |
|---|---|---|---|---|---|
| Equity capital | 0.46 | 0.46 | 0.46 | 10.48 | 10.48 |
| Reserves | 17 | 21 | 31 | 69.75 | 94.58 |
| Net worth | 17.46 | 21.46 | 31.46 | 80.24 | 105.06 |
| Borrowings | 47 | 70 | 90 | 95.34 | 155.04 |
| Other liabilities | 9.54 | 21.54 | 19.54 | 13.70 | 27.90 |
| Total liabilities | 74 | 113 | 141 | 189.28 | 288 |
| Fixed assets | 9 | 11 | 12 | 13.34 | 13.83 |
| Capital work in progress | 0 | 0 | 0 | 0 | 0 |
| Investments | 0 | 0 | 0 | 0 | 0 |
| Other assets | 65 | 102 | 129 | 175.94 | 274.17 |
| Receivables | · | · | · | 2.18 | 3.78 |
| Inventory | · | · | · | 150.24 | 241.29 |
| Cash | · | · | · | 13.42 | 18.37 |
| Trade payables | · | · | · | 7.66 | 14.41 |
Kabra Jewels cash flow
₹ crore
| FY22 | FY23 | FY24 | FY25 | FY26 | |
|---|---|---|---|---|---|
| Cash from operations | 2 | -12 | -8 | -18.64 | -41.41 |
| Cash from investing | -7 | -3 | -3 | -2.85 | -2.30 |
| Cash from financing | 5 | 15 | 12 | 32.89 | 48.66 |
| Net cash flow | 0 | 0 | 1 | 11.40 | 4.95 |
| Capital spending | · | · | · | 0 | 2.50 |
Working capital
Days
| FY22 | FY23 | FY24 | FY25 | FY26 | |
|---|---|---|---|---|---|
| Debtor days | 4 | 9 | 14 | 4 | 5 |
| Inventory days | 207 | 340 | 328 | 323 | 432 |
| Days payable | 24 | 66 | 29 | 16 | 26 |
| Cash conversion cycle | 187 | 284 | 313 | 311 | 411 |
| Working capital days | 132 | 191 | 149 | 146 | 225 |
Kabra Jewels peers and competitors
Listed SME companies in the same industryBy sales, Kabra Jewels is number 13 of the 79 listed SME companies in consumer durables.
Each company's latest full year and its latest close; companies the exchange puts in the same industry, whose businesses can differ a good deal. A list, not a comparison of their shares.
| Company | Market cap ₹ cr | P/E | Sales ₹ cr | Profit ₹ cr | Op. margin | Debt/equity |
|---|---|---|---|---|---|---|
| AJC Jewel Manufacturers | 203 | 25.4 | 291 | 8 | 4.8% | 1.22 |
| Kabra Jewels | 143 | 5.8 | 269 | 24.8 | 16.9% | 1.48 |
| Sylvan Plyboard (India) | 95 | 13.2 | 253 | 7.2 | 8.5% | 0.48 |
| Safe Enterprises Retail Fixtures | 1,205 | 18.9 | 218 | 63.9 | 36.2% | 0.00 |
| Acme Universal Safezone 9 | 221 | - | 204 | -5 | 7.0% | 1.09 |
| Manoj Ceramic | 87 | 7.3 | 203 | 12 | 12.0% | 0.54 |
| Durlax Top Surface | 179 | 14.2 | 185 | 12.6 | 12.0% | 0.35 |
| Clay Craft India | 334 | 12.4 | 179 | 27 | 24.0% | 0.30 |
| Pro FX Tech | 119 | 7.9 | 177 | 15.2 | 11.5% | 0.00 |
| Aspire & Innovative Advertising | 21 | 8.4 | 176 | 2.6 | 1.0% | 0.34 |
| K. V. Toys India | 166 | 18.5 | 174 | 9 | 7.0% | 0.24 |
| Median of the 10 others | 173 | 13.2 | 194 | 10.5 | 10.0% | 0.34 |
Kabra Jewels shareholding pattern
Promoters, FIIs, DIIs, HNIs and small holdersThe promoters own more than half the company. Big foreign and Indian funds own very little. The number of shareholders has come down.
Kabra Jewels shareholding pattern
Per cent of shares, from the patterns filed with the exchange. Tap + to see everyone holding 1% or more in that group. HNIs and small holders show only where the pattern was filed in full.
| Jan 25 | Mar 25 | Sep 25 | Mar 26 | |
|---|---|---|---|---|
| Promoters | 62.56% | 62.56% | 62.75% | 62.75% |
| Foreign investors (FIIs) | 7.96% | 3.28% | 0.12% | - |
| Indian institutions (DIIs) | 7.62% | 1.89% | 0.17% | 0.11% |
| HNIs (over ₹2 lakh each) | 7.63% | 13.51% | 12.65% | 17.23% |
| Small holders (up to ₹2 lakh) | 12.16% | 14.55% | 19.91% | 17.04% |
| Companies and others | 2.07% | 4.21% | 4.40% | 2.87% |
| Number of shareholders | 1,474 | 958 | 1,197 | 958 |
The named holders are at 31 March 2026, beside 30 Sept 2025, each under the group the pattern files them in.
Kabra Jewels study: the business from its own documents
Read from 7 of the company's own documentsKabra Jewels so far
From the company's own record
- 22 Jan 2025Listed on NSE Emerge at ₹128
- 13 Oct 2026An order announced
- 31 March 2026Promoters at 62.75%
- 22 Jan 2025Highest close since listing, ₹242.62
Kabra Jewels key facts from the filings
Each figure with the document it comes from
- Showrooms
- 7
- KK Jewels showrooms in Ahmedabad, all on lease, with three corporate offices and one exhibition centre.Annual report FY26, p.9 and p.16
- Stock held
- ₹241.3 cr
- Gold, diamond and silver stock at March 2026, up from ₹150.2 cr a year earlier.Annual report FY26, p.97
- Cash from operations
- ₹-41.4 cr
- Cash went out of the business in FY26 as stock grew by ₹91.0 cr.Annual report FY26, p.99
- Loans from directors
- ₹73.1 cr
- Unsecured loans owed to directors at March 2026, up from ₹7.4 cr; total borrowings were ₹155.0 cr.Annual report FY26, p.97 and p.104
- Silver articles
- ₹43.8 cr
- FY26 sales of silver coins, items and articles, up from ₹25.9 cr.Annual report FY26, p.112
Show 5 more facts
- Diamonds and solitaires
- ₹26.5 cr
- FY26 sales of diamonds and loose solitaires, down from ₹36.8 cr.Annual report FY26, p.112
- Pure gold
- ₹65.0 cr
- FY26 sales of 24 carat gold, up from ₹44.5 cr, alongside gold jewellery.Annual report FY26, p.112
- Largest customer
- 3.56%
- Share of sales from the single largest buyer in the eight months to November 2024; the top ten gave 18.89%.Prospectus, p.131
- New showroom stock
- ₹33 cr to ₹35 cr
- Gold and silver stock placed in the Science City showroom opened in May 2025, the company said.Earnings call, June 2025, p.5
- Related party limit
- Up to ₹100 cr
- Dealings with Kabra & Nyati Jewels, 55% owned by Jyothi Kailash Kabra, put to shareholders at the 2026 AGM.Annual report FY26, p.44 and p.58
What the company said, and what happened
The company's own statements, attributed, set against what it later reported; not newboard's estimates
The company has no order book, as it sells to shoppers in its showrooms. In the June 2025 call it guided for revenue growth of about 20% to 25% in FY26 and said it hoped to keep EBITDA margins at 12% to 13%, and that it might reduce debt from profits within two or three years once more stores were open. It also spoke of a silver boutique of about ₹10 cr investment, and of plans for supplying other jewellers, exports and stores outside Ahmedabad.
| What management said | When | What happened |
|---|---|---|
| Revenue growth of about 20% to 25% in FY26 | June 2025 call | FY26 revenue rose to ₹268.9 cr from ₹210.9 cr |
| Keep EBITDA margins at 12% to 13% | June 2025 call | FY26 EBITDA margin of 16.9% |
| Reduce debt from profits within two or three years once more stores open | June 2025 call | Borrowings rose to ₹155.0 cr at March 2026 from ₹95.3 cr |
| A silver boutique of about ₹10 cr investment | June 2025 call | Not reported as opened; seven showrooms at March 2026 |
Is it a good business? Six questions
Each answer is about that one question, read from the documents; tap one for the evidence. Not a view on the shares.
Kabra Jewels earns its money selling gold, diamond and silver jewellery to local families from a handful of showrooms in one city, and a rising gold price has lifted both its sales and its profit.
Its weak spots are a very large stock of gold paid for with borrowed money, profits that move with the gold price, and growing dealings with a jewellery company owned by a director.
WatchCan it set its own prices?No. Gold and silver are priced at the day's market rate, so margins move with metal prices, and diamond prices have had to be cut.
WatchHow strong is it against rivals?A known local name with design and bridal services, but it competes with many jewellers and national chains in one city.
StrongWho are its customers?Many individual shoppers, so no single buyer matters much.
WatchDoes it need a lot of money?Yes. Each showroom needs a large stock of gold, and the stock is paid for with bank loans and, lately, loans from directors.
AverageCan it keep finding new work?Families come back for weddings and festivals, and new showrooms and online selling add buyers, but growth so far depends on one city.
WatchDo good and bad years swing a lot?Yes. Sales bunch around weddings and festivals in the second half, and a sudden jump in gold prices can make shoppers wait.
Who runs Kabra Jewels?
Promoters, directors and officers; tap a name for the background
KKKailash KabraPromoter, Chairman and Managing Director · holds 38.34%
Completed higher education at St. Xaviers School, Loyola Hall, Ahmedabad and has been with the company since it began in 2010, with 16 years in the gems and jewellery trade. Handles buying of jewellery from vendors, marketing plans and budgets. The prospectus states Kailash Kabra and Jyothi Kailash Kabra are spouses.
Annual report FY26, p.37 and p.39; Prospectus, p.162JKJyothi Kailash KabraPromoter and Executive Director · holds 13.73%
Holds a diploma in interior designing from Jain School of Interior Design, Bangalore, and has been with the company since 2012, with 14 years in the gems and jewellery trade; responsible for jewellery selection and design. A director of Kabra & Nyati Jewels Private Limited, holding 55% of it.
Annual report FY26, p.37 and p.58SKSiddharth K. SethiaExecutive Director
Joined the board on 4 August 2026, proposed as executive director for five years; the annual report describes more than 25 years in the diamond jewellery trade and a commerce background.
Annual report FY26, p.38 and p.41ACAnand Chandubhai ThakkarExecutive Director
Holds a BBA from Flame University and a GIA Mumbai certification in diamonds and coloured stones, with over seven years in the jewellery trade; works on gold jewellery sourcing.
Annual report FY26, p.38, p.54 and p.55NPNimesh Puranprakash PhophaliaNon-Executive Director
Holds a B.Com from the University of Mumbai and a Graduate Diamonds diploma from the Gemological Institute of America, with about 20 years in the jewellery trade; sole proprietor of M/s. Vishesh Jewels, which makes, wholesales and trades jewellery.
Annual report FY26, p.37ISIndira Suresh VoraIndependent Director
A chartered accountant, earlier an Assistant Administrative Officer at LIC of India, in the credit department of Corporation Bank and a Chief Manager at Union Bank of India. On the board since April 2024.
Annual report FY26, p.37ISIla Sunil TrivediIndependent Director
Over two decades in finance and accounts in Indian and overseas businesses, now CFO of Ecofinity Atomix Ltd. On the board since 4 August 2026.
Annual report FY26, p.38 and p.41Kabra Jewels latest news and announcements
Announcements · Documents · Corporate actionsWhat changed recently
Each half-year is set against the same half a year earlier
- H2 FY26: sales ₹171 cr (+28%), net profit ₹18.2 cr (+113%) on H2 FY25.
- Shareholding, 31 March 2026: promoters unchanged at 62.75%.
- 13 Oct 2026: an order announced.
Kabra Jewels announcements
41 on record, latest first; each opens the filing on the exchange
- Price movementSignificant movement in price has been observed in Kabra Jewels Limited. The Exchange, in order to ensure that investors have latest relevant information about PDF ↗
- Shareholders meetingSrutinizers report of Annual General Meeting held on September 29, 2026. Further, the company has informed the Exchange regarding voting resultsPDF ↗
- Shareholders meetingProceedings of held on September 29, 2026PDF ↗
- AcquisitionAcquisitionPDF ↗
- Trading WindowClosure pursuant to SEBI (Prohibition of Insider Trading) Regulations, 2015PDF ↗
- Change in AuditorsOf the companyPDF ↗
- Shareholders meetingNotice of Annual General Meeting to be held on September 29, 2026PDF ↗
- AppointmentOf Mrs Ila Sunil Trivedi as Non- Executive Independent Director of the company w.e.f. August 04, 2026PDF ↗
- AppointmentOf Mr Siddharth K Sethia as Executive Director of the company w.e.f. August 04, 2026PDF ↗
- Reply to Clarification- Financial resultsThe Exchange had sought clarification from Kabra Jewels Limited for the quarter ended 31-Mar-2026 with respect to Regulation 33 of the SEBI (Listing ObligationsPDF ↗
- Clarification - Financial ResultsThe Exchange has sought clarification from Kabra Jewels Limited for the quarter ended 31-Mar-2026 with respect to Regulation 33 of the SEBI (Listing ObligationsPDF ↗
- Outcome of Board Meeting, the financial results for the period ended March 31, 2026PDF ↗
Kabra Jewels annual reports, earnings calls and documents
Every document links to its source; “read” marks those this page is built from
- Offer document ↗read
- 30 June 2025 ↗read
- 30 June 2025 ↗read
Kabra Jewels share split, bonus and dividends
From the corporate actions the company announces on the exchange
No share split, bonus issue or dividend is on record since listing.
Checks we ran on Kabra Jewels' data · 9
Before any number shows, it goes through the same checks. A figure that fails is held back, never shown as if it were right.
- ✓Balance sheet totals add up for FY25 and FY26.
- ✓Market cap uses the share count in the latest shareholding pattern (1,04,85,000 shares).
- ✓The share capital in the FY26 results matches the share count in the shareholding pattern.
- ✓Promoter pledge figures are within possible limits in every shareholding pattern shown.
- ✓Promoter and public holdings add up to 100% in every shareholding pattern shown.
- ✓The two half-years of FY26 add up to the full-year sales.
- !Earnings per share changes basis between FY24 (₹195.65) and FY25 (₹14.36) because the share count behind it changes; EPS is shown as reported, and growth is worked out on profit.
- ✓Revenue and profit are reported for every year shown, FY22 to FY26.
- iPrices run to the close on 14 Oct 2026, from the exchange's daily figures.
Questions people ask about Kabra Jewels
What does Kabra Jewels do?
Kabra Jewels runs KK Jewels showrooms in Ahmedabad selling gold, diamond and silver jewellery, coins and silver articles to families buying for weddings and festivals. Its shares trade on NSE Emerge.
What is the share price of Kabra Jewels?
₹136 at the close on 6 Nov 2026, from the exchange's daily figures.
What is the market cap of Kabra Jewels?
₹143 cr at the close on 6 Nov 2026, on 1,04,85,000 shares.
What is the P/E of Kabra Jewels?
5.8 times FY26 profit at the close on 6 Nov 2026 (our arithmetic).
What are Kabra Jewels' revenue and profit?
Revenue ₹269 cr and profit after tax ₹25 cr in FY26.
Who are the promoters of Kabra Jewels?
Kailash Kabra, Jyothi Kailash Kabra; promoters held 62.75% at 31 March 2026.
What was the IPO price of Kabra Jewels?
₹128 a share; it listed on 22 Jan 2025.
What is Kabra Jewels' website?
www.kkjewels.org
More SME companies like Kabra Jewels
Other listed SME companies in consumer durables, the closest in size first, each read from its own documents.
- Omara Ventures IndiaOMARA · BSE SME · Consumer DurablesMarket cap ₹144 cr
- Esprit StonesESPRIT · NSE Emerge · Consumer Durables · listed 2024Market cap ₹147 cr
- Patdiam JewelleryPJL · BSE SME · Consumer DurablesMarket cap ₹147 cr
- Yaashvi JewellersYAASHVI · BSE SME · Consumer DurablesMarket cap ₹148 cr
- Black Opal ConsultantsBLACKOPAL · BSE SME · Consumer DurablesMarket cap ₹151 cr
- SMR JewelsSMR · BSE SME · Consumer DurablesMarket cap ₹153 cr
Every listed SME company in Consumer Durables → · SME companies listed in 2025 →
Built from 2 annual reports, 1 offer document, 1 result filing, 1 earnings call transcript, 1 investor presentation, 1 press release, 41 exchange announcements, 4 shareholding patterns and 5 years of reported results. Every figure carries its source; where the documents are silent, the page says so.