Incorporated in 2012, M. K. Sons Fine Jewels Ltd. is engaged in the retail sale of gold, diamond, and CZ jewellery through its showroom network across Mumbai and Ahmedabad.
The company offers rings, necklaces, bangles, earrings, bracelets, Mangalsutras, solitaires, bridal jewellery, and customised jewellery under multiple collections such as Pavitra, Rivaaz, Sitaare, NAQSH, Sunhere, and One & Only.
The company operates 5 retail showrooms across Maharashtra and Gujarat in high-footfall locations including Bandra, Andheri, Zaveri Bazaar, C.G. Road, and Sindhu Bhavan Road.
Its business model focuses on retail jewellery sales, customer-centric collections, customised jewellery offerings, and diversified designs across multiple price points. The company procures finished jewellery from third-party vendors across Western India.
As on June 30, 2026, the company offered more than 19,442 SKUs, including over 14,582 gold jewellery designs and 4,860 diamond and precious stone jewellery designs.
The company caters to bridal, festive, daily wear, and premium jewellery customers with BIS Hallmark-certified jewellery products.
As on September 30, 2026 the company had 148 permanent employees.
Strengths
M.K.Sons Fine Jewels Ltd.’s revenue increased by 53% and profit after tax (PAT) rose by 123% between the financial year ending with March 31, 2026 and March 31, 2025.
| Period Ended | 30 Jun 2026 | 31 Mar 2026 | 31 Mar 2025 | 31 Mar 2024 |
|---|---|---|---|---|
| Assets | 305.68 | 283.21 | 219.64 | 95.21 |
| Total Income | 101.45 | 538.86 | 351.32 | 217.40 |
| Profit After Tax | 15.02 | 51.80 | 23.26 | 8.17 |
| EBITDA | 23.42 | 82.94 | 38.57 | 12.87 |
| NET Worth | 183.04 | 168.01 | 116.21 | 22.27 |
| Reserves and Surplus | 140.35 | 125.32 | 107.70 | 17.79 |
| Total Borrowing | 70.52 | 68.44 | 68.93 | 38.64 |
| Amount in ₹ Crore | ||||
| Company | Issue Type | Issue Size | Issue Price | PE Ratio | Listing Day Close | Listing Gain/Loss % | LTP |
|---|---|---|---|---|---|---|---|
| Nityas Gems & Jewellery Ltd. | Mainboard | ₹108.35 Cr | ₹75 | 14.51 | ₹83.99 | +11.99% | ₹68.89 |
| Deepa Jewellers Ltd. | Mainboard | ₹459.72 Cr | ₹177 | 13.85 | ₹194.37 | +9.81% | ₹230.14 |
| Priority Jewels Ltd. | Mainboard | ₹91.50 Cr | ₹200 | 15.21 | ₹241.50 | +20.75% | ₹297.80 |
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects:
| # | Issue Objects | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Funding expenditure towards setting up of 1 new showroom in Maharashtra (“New Showroom”) and expansion of existing showroom in Gujarat (“Expansion”) | 152.84 |
| 2 | Repayment and/or pre-payment, in full or part, of certain borrowings availed by the Company | 30.00 |
| 3 | General Corporate Purposes | |
| Total | 182.84 |
| KPI | Jun 30, 2026 | Mar 31, 2026 |
|---|---|---|
| ROE | 8.20% | 30.83% |
| ROCE | 10.26% | 39.88% |
| Debt/Equity | 0.39 | 0.41 |
| RoNW | 8.20% | 30.83% |
| PAT Margin | 14.80% | 9.61% |
| EBITDA Margin | 23.09% | 15.39% |
| NAV | 42.88 | 39.36 |
| P/B (x) | 3.78 | 4.12 |
| Valuation Metric | Pre IPO | Post IPO |
|---|---|---|
| EPS (₹) | 12.13 | 10.06 |
| P/E (x) | 13.36 | 16.1 |
| IPO Date | 28 to 30 Oct, 2026 |
| Listing Date | Wed, Nov 4, 2026 |
| Face Value | ₹10 per share |
| Price Band | ₹153 to ₹162 |
| Lot Size | 91 Shares |
| Sale Type | Fresh capital cum OFS |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE, NSE |
| Total Issue Size | 1,70,00,000 shares (agg. up to ₹275 Cr) |
| Fresh Issue | 1,36,00,000 shares (agg. up to ₹220 Cr) |
| Offer for Sale | 34,00,000 shares of ₹10 (agg. up to ₹55 Cr) |
| Share Holding Pre Issue | 4,26,90,760 shares |
| Share Holding Post Issue | 5,62,90,760 shares |
The promoters of the company are Mr. Vinod Gupta and Mrs. Arnima Gupta.
| Share Holding Pre Issue | 96.8% |
| Share Holding Post Issue |
As per our analysis and Based on the information we have, this is the output.
Allah knows best.
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