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High Gold Prices Impacting Volumes
View Risks →Rbz Jewellers Ltd — Q3 FY26
RBZ Jewellers delivered a steady Q3 FY26 with revenue of ₹226 crore (+17% YoY) and PAT of ₹17 crore (+33% YoY), driven by strong B2C festive and wedding demand (retail revenue +39% YoY to ₹155 crore).
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2-Minute Summary
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RBZ Jewellers delivered a steady Q3 FY26 with revenue of ₹226 crore (+17% YoY) and PAT of ₹17 crore (+33% YoY), driven by strong B2C festive and wedding demand (retail revenue +39% YoY to ₹155 crore). EBITDA margin expanded 184 bps to 13.04%. Wholesale revenue declined 12% YoY due to high gold prices shifting demand to job work, which was muted in Q3. Management guided FY26 revenue of ₹630-650 crore and PAT of ₹50-55 crore, with retail segment on track to meet ₹400 crore guidance. New stores in Surat and Rajkot are delayed to Q2 FY27 for optimal seasonal launch. Key risk: sustained high gold prices could further pressure volumes and B2B margins.
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Retail Revenue
₹155 Cr
+39% YoY
Retail segment grew strongly driven by festive and wedding season demand.
New Designs Launched
951
N/A
Approximately 951 new designs launched in Q3, averaging 12 per day, primarily occasion wear.
FY26 Revenue Guidance
₹630-650 Cr
N/A
Management revised full-year revenue guidance down from ₹700 Cr due to delayed store openings.
FY27 PAT Guidance
₹55-60 Cr
N/A
Management guided PAT of ₹55-60 Cr for FY27, with marketing spend of ~₹25 Cr.
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Guidance and risk preview
Management expects full-year revenue between ₹630-650 crore, down from earlier ₹700 crore guidance due to delayed store openings.
Sustained high gold prices may continue to pressure volumes, especially in B2B and job work segments, as consumers and retailers adjust.
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