RBZ Jewellers Limited · NSE:RBZJEWEL
RBZ Jewellers — Q2 FY27 Earnings Presentation
36 slides from RBZ Jewellers's earnings presentation, Nov 3, 2026
Slide 1: Exchange filing cover letter
03rd November 2026 To, To, Department of Corporate Services Listing Department BSE Limited, National Stock Exchange of India P J Towers, Dalal Street, Limited, Mumbai - 400 001 Exchange Plaza, 5th Floor Plot No. C/1, G. Block Bandra-Kurla Complex, Bandra (E), Mumbai - 400 051 Security Code: 544060 S
Slide 2: Investor Presentation Earnings Presentation Q2FY27
RBZ Jewellers Limited INVESTOR PRESENTATION Earnings Presentation Q2FY27
Slide 3: Table of Contents
Table of Contents 01 02 03 04 05 Performance Manufacturing Segmental Strategic Q2FY27 Overview Excellence Performance Overview Financial Overview Earnings Presentation 2
Slide 4: RBZ at a Glance
RBZ at a Glance Business Snapshot Leadership Our Foundation Guided By Experience. Driven By Vison. 30+ years of industry legacy Rajendrakumar Zaveri Harit Zaveri Chairman & Joint Managing Director Incorporated in 2008 Managing Director & Chief Financial Officer Specialised in antique gold bridal jew
Slide 5: Two Engines. A Stronger Tomorrow.
Two Engines. A Stronger Tomorrow. A well-established B2B business lays the foundation for scale and stability, complemented by a growing B2C platform with significant expansion potential. Our foundation Our growth platform Expanding B2B Wholesale | Job Work Established Scale B2C Harit Zaveri Jewelle
Slide 6: From B2B Foundation to B2C Growth
From B2B Foundation to B2C Growth RBZ’s established wholesale engine funds scale; Harit Zaveri Jewellers builds the next consumer-led growth platform B2B | CORE ENGINE B2C | GROWTH ENGINE Traditional business. Harit Zaveri Jewellers: Growth provider Integrated B2B platform SURAT FLAGSHIP | OPENED 24
Slide 7: Performance Overview
JEWELLERS LTD Performance | Overview HARIT ZAVERT
Slide 8: Financial Highlights
Financial Highlights Q2FY27 Financial Performance H1FY27 Financial Performance • Q2 FY27 Revenue increased by 54.9% year-on- Revenue from EBITDA EBITDA Revenue from EBITDA EBITDA year, driven by Operations Margins Operations Margins strong festive INR 2,247 Mn INR 292 Mn 13% INR 3,455 Mn INR 471 Mn
Slide 9: Operational Highlights
Operational Highlights • Delivered healthy quarterly performance, supported by robust customer demand, higher jewellery sales and improving brand visibility. • Strengthened consumer engagement through targeted digital campaigns across occasion, bridal and daily-wear collections. • Expanded the retai
Slide 10: Segmental Performance
Segmental Performance Retail Revenue (INR Mn) Wholesale Revenue (INR Mn) Job Work Revenue (INR Mn) 1,484 729 558 865 421 775 34 28 12 Q2-FY26 Q1-FY27 Q2-FY27 Q2-FY26 Q1-FY27 Q2-FY27 Q2-FY26 Q1-FY27 Q2-FY27 Retail Revenue (INR Mn) Wholesale Revenue (INR Mn) Job Work Revenue (INR Mn) 2,259 1,150 844 1
Slide 11: Sales volume graph (In Kgs)
Sales volume graph (In Kgs) Sales in kg 381 364 249 219 Q2 FY26 Q1 FY27 175 Q2 FY27 97 95 80 50 51 48 31 Retail Wholesale Jobwork Total Sales in Kgs Period Retail Wholesale Jobwork Total Q2FY26 80.04 51.37 249.25 380.66 Q1FY27 49.57 30.63 95.27 175.47 Q2 FY27 96.76 47.66 219.16 363.58 Earnings Prese
Slide 12: Key Business Updates
Key Business Updates Four-Store Rollout Planned Across Q2-Q3-Q4 STORE FORMAT & INVESTMENT PROFILE Large Format RAJKOT GANDHINAGAR • ~10,000 sq. ft. carpet area Planned launch Planned launch • ₹125–150 Cr typical inventory deployment EARLY Q3 Q4 Q2 Q3 Mid Format • ~5,000 sq. ft. carpet area SURAT MAN
Slide 13: Deepening Presence in Gujarat
Deepening Presence in Gujarat RBZ Presence & Expansion Plan in Gujarat EXPANSION AT A GLANCE WHY GUJARAT? GANDHINAGAR 3 ♜ We Know The Customer Consumer preferences and buying Mid-size Format More Stores Growing Affluent Planned behaviour understood through years of Catchment market presence. MANINAG
Slide 14: Manufacturing Excellence
Manufacturing Excellence 15
Slide 15: Manufacturing Facility
Manufacturing Facility Located on the Sarkhej Gandhinagar Highway in Ahmedabad, Gujarat. Flexible manufacturing model combining innovation, artisan expertise, and 100% owned by RBZ Jewellers selective outsourcing | 23,966 sq.ft. facility End-to-end manufacturing excellence Capacity for 250 artisans
Slide 16: Manufacturing Excellence: From Design Concept to Finished Jewelry
Manufacturing Excellence From Design Concept to Finished Jewelry 01 › 02 › 03 › 04 › 05 › 06 RESEARCH & DESIGN & PRECISION CRAFTSMANSHIP & MULTI-LEVEL READY FOR TREND ANALYSIS PROTOTYPING MANUFACTURING FINISHING QUALITY CONTROL RETAIL RAW MATERIAL TESTING • 24K testing • Fire assay IN-PROCESS INSPEC
Slide 17: Segmental Performance
Segmental Performance 18
Slide 18: Retail Business: A Strategic Consumer Platform
Retail Business: A Strategic Consumer Platform CURREN T CONTRIB U T I ON Strategic Importance ~65% Direct consumer access Builds an owned relationship with end customers. of consolidated revenue In H1FY27 Brand development Strengthens the Harit Zaveri Harit Zaveri Jewelers serves as RBZ’s direct-to-
Slide 19: Our New Flagship in Surat
Our New Flagship in Surat A New Destinantion for Timeless Jewellery MORE THAN A SHOWROOM. A landmark addition to our growing A retail presence. CELEBRATION OF YOU. Inaugruated by Famous Indian Actor Vicky Kaushal 24 SEPTEMBER 2026 Surat, Gujrat Spacious & premium Wide product portfolio Designed for
Slide 20: The Harit Zaveri Jewellers Retail Proposition
The Harit Zaveri Jewellers Retail Proposition 1 DISTINCTIVE PRODUCT PORTFOLIO 2 EXPANDING DIGITAL REACH 3 PREMIUM STORE EXPERIENCE Curated collections for every occasion Strong and growing digital community A premium environment for meaningful Antique Gold, Polki and contemporary jewellery customer
Slide 21: Exhibitions - Wholesale; Marquee Clients
Exhibitions - Wholesale Marquee Clients 24
Slide 22: Job Work Services
Job Work Services An asset-light, highest-margin model that converts manufacturing expertise into making-charge revenue STRATEGIC HOW THE MODEL WORKS REVENUE AND VOLUME TREND IMPORTANCE Customer-supplied gold, monetised through RBZ’s manufacturing expertise Revenue (INR Mn) 52% Customer supplies gol
Slide 23: Strategic Overview
JEWELLERS LTD Strategic Overview HARIT ZAVERT
Slide 24: RBZ's Design-to-Delivery Advantage
RBZ’s Design-to-Delivery Advantage Customer insight, design capability and execution control enable differentiated products and dependable delivery. 01 02 03 Understanding the Market Differentiated Products Deliver with Consistency Direct Customer Insights Customer-led Collections End to End Manufac
Slide 25: Building a Scalable Jewellery Business
Building a Scalable Jewellery Business Demonstrated Integrated Jewellery Established B2B Asset-Light Retail Expansion Financial Platform Network Job Work Model Opportunity Performance Manufacturing | 190+ Retail Partners Customer-supplied Increasing Presence Revenue 3Y CAGR – Wholesale | Job-work go
Slide 26: Growth Drivers
Growth Drivers Four 1 connected levers convert sector formalisation 2 into scalable, profitable growth 3 01 02 03 04 MARKET EXPAND MARKET DRIVE PROFITABLE SCALE THE PLATFORM OPPORTUNITY ACCESS GROWTH Organized jewellery Manufacturing A stronger operating Retail + B2B expansion gains share productivi
Slide 27: Q2FY27 Financial Overview
Q2FY27 Financial Overview 31
Slide 28: Quarterly Consolidated Income Statement
Quarterly Consolidated Income Statement 1 2 3 PARTICULARS (INR Mn) Q2-FY27 Q2FY27 Q2-FY26 Y-o-Y Q1-FY27 Q-o-Q Operational Revenue 2,247 1,451 54.9% 1,208 86.0% Total Expenses 1,955 1,168 67.3% 1,029 90.0% EBITDA 292 283 3.5% 179 63.0% EBITDA Margins (%) 13.00% 19.50% (640 Bps) 14.82% (180 Bps) Other
Slide 29: Half Yearly Consolidated Income Statement
Half Yearly Consolidated Income Statement 1 2 3 PARTICULARS (INR Mn) H1-FY27 H1-FY26 Y-o-Y Operational Revenue 3,455 2,207 56.6% Total Expenses 2,984 1,796 66.1% EBITDA 471 411 14.4% EBITDA Margins (%) 13.6% 18.6% (510 Bps) Other Income 2 2 (9.6%) Depreciation 33 17 95.9% Finance Cost 98 51 90.2% PB
Slide 30: Historical Consolidated Income Statement
Historical Consolidated Income Statement 1 2 3 PARTICULARS (INR Mn) FY23 FY24 FY25 FY26 Operational Revenue 2,879 3,274 5,301 6,365 Total Expenses 2,501 2,892 4,659 5,446 EBITDA 378 382 642 919 EBITDA Margins (%) 13.13% 11.67% 12.11% 14.44% Other Income 17 4 6 4 Depreciation 14 14 28 43 Finance Cost
Slide 31: Historical Consolidated Balance Sheet
Historical Consolidated Balance Sheet 1 2 3 PARTICULARS (INR Mn) FY25 FY26 H1 FY27 PARTICULARS (INR Mn) FY25 FY26 H1 FY27 Non-Current Assets Equity a) Property, plant and equipment 269 337 654 a) Equity Share Capital 400 400 400 b) Capital work-in-progress 25 247 68 b) Other Equity 2,050 2,598 2,853
Slide 32: Financial Performance
Financial Performance Revenue From Operations PAT (INR Mn) and PAT Margins (%) EBITDA (INR Mn) & EBITDA (INR Mn) Margins (%) 6,365 1,100 40.00% 548 919 5,301 900 30.00% 388 700 642 3,274 3,455 472 255 500 382 20.00% 216 300 8.61% 14.44% 13.60% 10.00% 6.60% 7.32% 7.40% 12.11% 100 11.67% FY24 FY25 FY2
Slide 33: Capital Market Data
Capital Market Data Share Price Movement from 1stOctober 2025 to 30th September 2026 RBZ SENXSEX 01-Oct-25 01-Nov-25 01-Dec-25 01-Jan-26 01-Feb-26 01-Mar-26 01-Apr-26 01-May-26 01-Jun-26 01-Jul-26 01-Aug-26 01-Sep-26 Indexed to 100 Price Data (30th September 2026) INR Shareholding Pattern as on 30th
Slide 34: Technology Adoption Across Operations
Technology Adoption Across Operations Advanced Implementation SoP-Driven Manufacturing of SAP (S/4HANA) Work Culture Technology Robust ERP system for Standardisation of Adoption of latest strong internal controls processes to ensure machinery and equipment and streamlined consistent and effective su
Slide 35: Disclaimer
Disclaimer No representation or warranty, express or implied, is made as to, and no reliance should be placed on, the fairness, accuracy, completeness or correctness of the information or opinions contained in this presentation. Such information and opinions are in all events not current after the d
Slide 36: Thank You
Thank You Ernst & Young LLP Kanav Khanna | Rhea Dharia Email: [email protected] | [email protected] RBZ Jewellers Limited Ms. Heli Garala Company Secretary & Compliance Officer Email: [email protected]