Ashapuri Gold Ornament Ltd · BSE:AGOL
Ashapuri Gold Ornament — Q3 FY26 Earnings Presentation
40 slides from Ashapuri Gold Ornament's earnings presentation, Feb 12, 2026
Slide 1: BSE filing letter: Investor Presentation Q3 FY26
Date: 12th February, 2026 To, BSE Limited Phiroze Jeejeebhoy Towers, Dalal Street, Mumbai-400 001, MH,IN. BSE Scrip Code:-542579 Sub.:- Investors/Analysts Presentation for Q3 and Nine Months Ended on December 31st , 2025 Ref: Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements
Slide 2: Investor Presentation
Investor Presentation 1
Slide 3: Disclaimer
Disclaimer This presentation and the accompanying slides have been prepared by Ashapuri Gold Ornament Limited. (AGOL the “Company”), and have been prepared solely for information purposes and do not constitute any offer, recommendation or invitation to purchase or subscribe for any securities, and s
Slide 4: Index
Index Company Overview 4 - 14 Management Overview 15 - 16 Business Overview 17 - 19 Industry Overview 20 - 21 Financial Overview 23 - 29 Appendix 30 - 33 Investor Presentation 3
Slide 5: Company Overview
Investor Presentation 4
Slide 6: Company Introduction
Company Introduction ➢ Ashapuri Gold Ornament Limited (AGOL), incorporated in 2008 and based in Ahmedabad, is a trusted B2B gold jewellery manufacturer with a legacy of over 28 years. ➢ The company offers a portfolio of 18,000+ intricate designs, crafted in- house by over 300 skilled artisans. ➢ AGO
Slide 7: Key Highlights: Powering Growth With Scale & Expertise
Key Highlights: Powering Growth With Scale & Expertise 28+ 11+ 2300+ 300+ 30+ Years of Presence Present In Employees & Corporate Experience in states Retail Outlets Artisans Clients 18,000+ 14,000+ Sq Ft 750 Kgs 52% Q3 FY26 Designs Manufacturing Total Capacity Total Income : ₹ 91.24 Cr facility Capa
Slide 8: Core Values
Core Values Crafted with Heritage. Designed for Tomorrow. Trust & Integrity Quality & Craftsmanship We believe in building long-term We are committed to delivering relationships through transparency, honesty, uncompromised quality by using the finest and ethical business practices. materials and mas
Slide 9: A Timeline Of Ashapuri Gold Ornament
A Timeline Of Ashapuri Gold Ornament Inception and Transformed Into Private Limited establishment in 1997 Company in 2008 Marking a significant step towards growth & Expansion Expanded to New In 2019 Got Listed on BSE SME Launch of our Maayin manufacturing Facility Space Exchange Antique collection
Slide 10: Our Products & Brands
Our Products & Brands Ashapuri’s Brand Family Pan India Collection Southern India Collection North India Collection Polki & Diamond Collection Each brand caters to distinct regional tastes and design styles. Investor Presentation 9
Slide 11: Brand Portfolio
Brand Portfolio Click Here To See The Whole Collection Click Here To See The Whole Collection Click Here To See The Whole Collection Investor Presentation 10
Slide 12: Customization Jewellery: From Concept to Creation
Customization Jewellery: From Concept to Creation Wide range of Kundan Antique jewelry, Plain Antique Jewellery, including, Choker, Bangles, necklaces, bracelets, and bespoke designs. Click Here To See The Whole Collection Investor Presentation 11
Slide 13: Clientele
Clientele Investor Presentation 12
Slide 14: Social Media Presence: Staying Connected Across Platforms
Social Media Presence: Staying Connected Across Platforms Click Here To View Click Here To View Click Here To View Investor Presentation 13
Slide 15: Awards & Recognitions
Awards & Recognitions Investor Presentation 14
Slide 16: Participation in Prestigious Jewellery Shows
Participation in Prestigious Jewellery Shows Investor Presentation 15
Slide 17: Recent Operational Highlights
Recent Operational Highlights ₹102 Cr Domestic Orders at IIJS Premier 2025 ₹5.41 Cr Aneya Brand (Polki & Diamond) Orders Secured large orders from leading national Received fresh orders from reputed retail and regional jewellery chains at India’s jewellery chains for the premium Aneya premier trade
Slide 18: Board Of Directors
Board Of Directors Saremalbhai Soni Dineshkumar S Soni Jitendrakumar S Soni (Chairman And Managing Director) (Managing Director) (Joint Managing Director) Experience: 36+ Years Experience: 28+ Years Experience: 24+ Years • Holds Higher Secondary Education from the • Completed his first year in Comme
Slide 19: Board Of Directors
Board Of Directors Rushikesh H Patel Pooja S Jadiya Saurabh G Patel (Independent Director) (Independent Director) (Independent Director) Experience: 14+ Years Experience: 4+ Years Experience: 14+ Years • Holds a Master’s degree in Commerce from • Holds a Bachelor’s and Master’s degree in • Holds a B
Slide 20: Design Process
Design Process Empathise Design Manufacturing Global Consumer Hand Sketch Research Sales Analysis & Element Detailing Feedback Ideate Prototype Trend Study & Technical Drawing Forecast Design CAD (Computer- Aided Design) Inspiration CAM (Computer- Aided Manufacturing) Form Generation Investor Presen
Slide 21: Manufacturing Process
Manufacturing Process Ashapuri Gold approaches jewellery as an art form, brought to life by master artisans with decades of experience. Using certified gold and ethically sourced diamonds, the company creates timeless pieces that blend traditional motifs with contemporary aesthetics. Every design re
Slide 22: A Glimpse of Our Manufacturing Facility
A Glimpse of Our Manufacturing Facility Investor Presentation 21
Slide 23: Serving India's Key Jewellery Markets: Network Across Major States
Serving India’s Key Jewellery Markets: Network Across Major States Punjab Delhi Haryana Rajasthan Uttar Pradesh Gujrat Maharashtra West Bengal Madhya Pradesh Bangalore Tamil Nadu Investor Presentation 22
Slide 24: Growing Indian Jewellery Industry
Growing Indian Jewellery Industry ✓ Economic Impact: Indian Gems & Jewellery Industry • Contributes ~7% to GDP and 15.7% to merchandise exports. Market Size (CY23-CY29) (in ₹ Billion) • Employs ~5 million people. ✓ Trade & Market: • Imports (Apr–Dec 2024): ₹1.25 lakh crore (US$ 14.56 billion). • FY2
Slide 25: Organized Jewellery Retail vs. Manufacturing
Organized Jewellery Retail vs. Manufacturing Organized Jewellery Retail: ➢ Holds 60% market share. ➢ Unorganized players account for the remaining 40%. ➢ Retail segment has seen significant formalization and brand consolidation. VS Organized Jewellery Manufacturing ➢ Holds only 11% market share. ➢ 8
Slide 26: Financial Overview
Financial Overview Investor Presentation 25
Slide 27: Management's Comment on Q3 & 9M FY26 Financial Performance
Management’s Comment on Q3 & 9M FY26 Financial Performance “We are delighted to report another good quarter of performance in Q3 FY26, with PAT growing by 8% year-on-year and EBITDA grew with 22% year-on-year. Our EBITDA margin expanded by 233 basis points to 5.57%, and PAT margin improved by 103 ba
Slide 28: Q3 FY26 Performance Highlights
Q3 FY26 Performance Highlights Total Income EBITDA EBITDA (%) PAT PAT (%) 105 .00 102 .50 101.88 9.00 % 100 .00 8.78% 9.00% 10.3 0 97.5 0 10.04 95.0 0 92.5 0 91.24 7.00 % 6.11% 6.44% 8.30 90.0 0 7.00% 87.5 0 8.01 8.04 85.0 0 5.07% 6.56 82.5 0 5.00 % 6.30 80.0 0 5.00% 77.5 0 6.04 5.57 75.0 0 5.17 72.
Slide 29: 9M FY26 Performance Highlights
9M FY26 Performance Highlights Total Income EBITDA EBITDA (%) PAT PAT (%) 300 .00 297 .50 295 .00 292 .50 290 .00 287 .50 285 .00 282 .50 30.0 0 10.0 0% 280 .00 277 .50 34.50 275 .00 272 .50 270 .00 267 .50 265 .00 262 .50 246.61 260 .00 257 .50 255 .00 9.00 % 252 .50 250 .00 233.44 247 .50 9.93% 24
Slide 30: Q3 & 9M FY26 Profit & Loss Statement
Q3 & 9M FY26 Profit & Loss Statement In ₹ Cr Particulars Q3 FY26 Q3 FY25 YOY 9M FY26 9M FY25 YOY Revenues 91.24 101.45 246.60 232.57 Other Income 0.00 0.44 0.01 0.87 Total Income 91.24 101.88 -10.44% 246.61 233.44 5.64% Raw Material Expenses 79.32 90.16 204.50 207.02 Employee costs 2.02 2.75 9.83 5.
Slide 31: Key Financial Highlights
Key Financial Highlights Total Income EBITDA EBITDA (%) PAT PAT (%) 317.41 17.23 12.04 166.85 158.14 11.65 7.67 6.98 4.60 3.77 5.43 3.79 1.78 2.38 1.13 FY23 FY24 FY25 FY23 FY24 FY25 FY23 FY24 FY25 All Figures In ₹ Cr & Margin In % Investor Presentation 30
Slide 32: Profit & Loss Statement
Profit & Loss Statement In ₹ Cr Particulars FY25 FY24 FY23 Revenues 316.30 165.07 158.01 Other Income 1.11 1.79 0.13 Total Income 317.41 166.85 158.14 Raw Material Expenses 284.30 145.27 144.59 Employee costs 6.36 3.63 3.67 Other expenses 9.52 6.30 6.11 Total Expenditure 300.18 155.20 154.37 EBITDA
Slide 33: Balance Sheet Statement
Balance Sheet Statement In ₹ Cr Equities & Liabilities FY25 FY24 FY23 Assets FY25 FY24 FY23 Shareholders Fund Non Current Assets Equity 33.33 25.00 25.00 Fixed assets 5.72 5.88 7.58 Reserves & Surplus 113.34 64.96 57.53 Other Non Current Financial Assets 8.71 1.78 0.74 Net Worth 146.67 89.96 82.53 D
Slide 34: Key Ratios
Key Ratios In % In Times In ₹ ROE Debt to Equity EPS 8.53 0.38 8.21 0.08 0.30 2.16 0.02 0.07 0.004 FY23 FY24 FY25 FY23 FY24 FY25 FY23 FY24 FY25 In % In Times In ₹ ROCE Interest Coverage Book Value 47.35 11.68 4.40 11.19 3.60 3.30 24.27 3.05 8.27 FY23 FY24 FY25 FY23 FY24 FY25 FY23 FY24 FY25 Investor
Slide 35: Revenue Bifurcation
Revenue Bifurcation Revenue contribution (%) from National, Regional, Big Box segments FY25 FY24 FY23 29.54 31.09 43.69 56.31 70.46 68.91 Corporate Clients Big Box Clients In ₹ Cr Particulars FY25 FY24 FY23 Corporate Clients 222.89 51.33 69.04 Big Box Clients 93.40 113.74 88.97 Total Revenue from op
Slide 36: Competitive Advantages
Competitive Advantages Legacy of Over 28 Years in Jewellery Business With a longstanding reputation for authenticity and integrity, Asha Puri Gold is synonymous with deep-rooted market knowledge and quality craftsmanship and hallmarked purity. Scale Of Operations Operates at a robust scale, leveragi
Slide 37: Strategic Directions
Strategic Directions Digital Transformation & Omnichannel Design Innovation and Trend-Focused Strengthened Experience Sales Force Collections Strengthening online Recruited sales presence with an Launching themed personnel across major enhanced e-commerce and seasonal markets including platform, vir
Slide 38: Investment Rationales
Investment Rationales ➢ Strong Financial Performance FY25 Revenue: ₹317.41 Cr | EBITDA: ₹17.23 Cr | PAT: ₹12.04 Cr. PAT CAGR of 160.08% and EBITDA CAGR of 113.78% from FY22–FY24. ➢ Established Legacy with Proven Experience 28+ years in jewellery business with deep industry knowledge and trust. ➢ Pan
Slide 39: Stock Information
Stock Information As on 31-12-2025 As on 10-02-2026 Share Holding Pattern BSE: INE05FR01029 Share Price (₹) ₹ 5.46 Market Capitalization (₹ Cr) 181.99 51.94% No. of Shares Outstanding 33,33,14,666 48.06% Face Value (₹) 1.00 52 Week High 9.00 Promoter & Promoter Group Public 52 Week Low 4.99 Share Pe
Slide 40: Thank You
Thank You Ashapuri Gold Ornament Limited 109 to 112-A, Super Mall, Nr. Lal Bunglow, C G Road, Ahmedabad – 380 009 Gujarat, India. E-mail: [email protected] Phone: 91-63 5353 3711 Website: www.ashapurigold.com Kirin Advisors Private Limited 713-B, Lodha Supremus II, Wagle Estate, Thane West – 400
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