An investor-focused breakdown of the Shankesh Jewellers IPO offer document: restated financial performance, key ratios, valuation across the price band, competitive strengths, risk factors, listed peers, objects of the issue and the business model, all drawn from the company's RHP disclosures.
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On a restated consolidated basis, the company revenue increased by 16% and profit after tax (PAT) rose by 165% between the financial year ending with March 31, 2026, a useful one-line read on operating momentum heading into the listing.
Here is how the books have moved over the last three financial years:
| Particulars | 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 | 150.65 | 90.83 | 57.50 |
| Total Borrowings | 167.30 | 145.63 | 109.81 |
All figures in ₹ Crore unless stated otherwise. Source: restated financials disclosed in the offer documents.
Profits have scaled from ₹12.82 Cr to ₹106.68 Cr over two years; the borrowings-to-net-worth ratio has eased to about 0.80. For investors, the trend matters more than any single year, steady compounding with contained leverage is what institutional bidders typically reward, while a late spike in borrowings deserves scrutiny against the stated objects of the issue.
Reading these numbers. RoE and RoCE measure how efficiently the business turns shareholder capital into profit; anything in double digits is respectable, mid-twenties plus is strong. A debt-to-equity ratio well below 1 signals a balance sheet that does not depend on lenders. NAV per share anchors the book value of your bid, while price-to-book tells you how many rupees the issue is charging for each rupee of that book, compare it with listed peers in the same sector before deciding whether the premium is justified.
The issue price converts into a different earnings multiple once the fresh shares hit the books. Here is the dilution-adjusted picture:
Pre-IPO figures are computed on the pre-issue share count; post-IPO figures assume full subscription at the upper band.
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Last updated: 02 Sep 2026, 22:25 IST