Incorporated in 2005, Shankesh Jewellers Limited is engaged in the business of manufacturing and providing customised handcrafted gold jewellery. The company specialises in 22-karat and 18-karat gold jewellery, offering a wide product portfolio including bangles, bridal jewellery, chokers, jhumkas, necklace sets, mangalsutras, rings, and combined sets across categories such as antique, semi-antique, Calcutta, temple, gheru polish, and yellow/rodium/rose gold jewellery.
The company distributes products PAN-India to both corporate and non-corporate clients. Its clientele includes reputed jewellers such as Joyalukkas India Limited, P. N. Gadgil & Sons Limited, Kalyan Jewellers India Limited, Novel Jewels Limited (Aditya Birla Group), Manoj Vaibhav Gems ‘N’ Jewellers Limited, and other established jewellery houses.
The company distributes products PAN-India to both corporate and non-corporate clients. Its clientele includes reputed jewellers such as Joyalukkas India Limited, P. N. Gadgil & Sons Limited, Kalyan Jewellers India Limited, Novel Jewels Limited (Aditya Birla Group), Manoj Vaibhav Gems ‘N’ Jewellers Limited, and other established jewellery houses.
Shankesh Jewellers follows an asset-light model by engaging skilled local karigars and jobworkers for production while managing design, material sourcing, and delivery in-house. In addition to product sales, it offers job work services where clients provide bullion and specific design requirements. All jewellery is BIS-hallmarked as per regulatory guidelines.
Its product portfolio is classified into two segments:
Sales of handcrafted jewellery (22k and 18k)
Custom job work services (client-supplied bullion and design execution)
With a legacy of over three decades in the handmade jewellery market, the company has built strong relationships with leading jewellery brands by consistently delivering design excellence, craftsmanship, and customised solutions.
As of May 31, 2026, the Company had 46 permanent employees on its payroll, comprising Executive Directors and KMP, Accounts and Finance, Administration, Sales and Marketing, Designing and Client Servicing, and Quality functions. The Company was also associated with 72 jobworkers.
Strengths :
Shankesh Jewellers Ltd.’s revenue increased by 16% and profit after tax (PAT) rose by 165% between the financial year ending with March 31, 2026 and March 31, 2025.
| Period Ended | 31 Mar 2026 | 31 Mar 2025 | 31 Mar 2024 |
|---|---|---|---|
| Assets | 403.76 | 249.56 | 177.07 |
| Total Income | 1,630.93 | 1,403.94 | 1,061.91 |
| Profit After Tax | 106.68 | 40.31 | 12.82 |
| EBITDA | 157.90 | 65.35 | 28.60 |
| NET Worth | 209.43 | 100.60 | 60.29 |
| Reserves and Surplus | 150.65 | 90.83 | 57.50 |
| Total Borrowing | 167.30 | 145.63 | 109.81 |
| Amount in ₹ Crore | |||
| Company | Issue Type | Issue Size | Issue Price | PE Ratio | Listing Day Close | Listing Gain/Loss % | LTP |
|---|---|---|---|---|---|---|---|
| Advit Jewels Ltd. | Mainboard | ₹165.16 Cr | ₹138 | 18.41 | ₹179.46 | +30.04% | ₹177.79 |
| PNGS Reva Diamond Jewellery Ltd. | Mainboard | ₹379.52 Cr | ₹386 | 10.96 | ₹411.70 | +6.66% | ₹571.75 |
| Shringar House of Mangalsutra Ltd. | Mainboard | ₹400.92 Cr | ₹165 | 19.47 | ₹184.88 | +12.05% | ₹223.27 |
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects:
| # | Issue Objects | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Repayment/pre-payment, in full or part, of certain borrowings | 158.00 |
| 2 | Funding working capital requirements | 38.00 |
| 3 | General Corporate Purposes |
| KPI | Mar 31, 2026 | Mar 31, 2025 |
|---|---|---|
| ROE | 50.94% | 40.08% |
| ROCE | 41.57% | 26.28% |
| Debt/Equity | 0.80 | 1.44 |
| RoNW | 50.94% | 40.07% |
| PAT Margin | 6.54% | 2.87% |
| EBITDA Margin | 9.68% | 4.65% |
| NAV | 17.82 | 8.58 |
| Price to Book Value | 10.84 |
| Valuation Metric | Pre IPO | Post IPO |
|---|---|---|
| EPS (₹) | 9.08 | 7.26 |
| P/E (x) | 10. |
| IPO Date | 18 to 20 Aug, 2026 |
| Listing Date | Tue, Aug 25, 2026T |
| Face Value | ₹5 per share |
| Price Band | ₹88 to ₹93 |
| Lot Size | 160 Shares |
| Sale Type | Fresh capital cum OFS |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE, NSE |
| Total Issue Size | 3,9,82,000 shares (agg. up to ₹367 Cr) |
| Fresh Issue | 2,94,82,000 shares (agg. up to ₹274 Cr) |
| Offer for Sale | 1,00,00,000 shares of ₹5 (agg. up to ₹93 Cr) |
| Share Holding Pre Issue | 11,75,49,420 shares |
| Share Holding Post Issue | 14,70,31,420 shares |
As per our analysis and Based on the information we have, this is the output.
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