Lalithaa Jewellery Q1 Revenue Rises 26%, Margins Weaken

Lalithaa Jewellery Mart reported strong revenue growth in Q1 FY27, but profitability declined as operating margins contracted sharply. Key Highlights • Net Profit: ₹208.20 Cr | ↓22% YoY | ↓40% QoQ • Revenue: ₹6,031.20 Cr | ↑26% YoY | ↓7% QoQ • EBITDA: ₹373 Cr | ↓14% YoY | ↓32% QoQ • EBITDA Margin: 6.2% vs 9.1% YoY and 8.4% QoQ Why It Matters The quarter shows a clear divergence between top-line growth and profitability. While revenue expanded 26% YoY, EBITDA declined 14%, resulting in a 290 bps YoY contraction in EBITDA margin. Net profit also fell 22% YoY, indicating that higher sales did not translate into stronger earnings during the quarter. For investors, the key monitorable will be whether Lalithaa can sustain revenue growth while recovering margins, particularly as it continues expanding its retail network. The company recently opened its 65th showroom in Chennai.