Motisons Jewellers Ltd(MOTISONS)

NSE: MOTISONSBSE: 544053

₹ 15-5.36%refreshed 23 Oct, 03:55 pm ISTMarket cap: ₹ 1,706 crWebsite: www.motisonsjewellers.comUpdated: 24 Oct 2026

About

Motisons Jewellers Limited manufactures, trades and retails gold, diamond, precious stone and silver jewellery from four showrooms in Jaipur and two manufacturing units in Jaipur's SEZ Sitapura and Bapunagar. The company reported revenue of ₹489.54 crore in FY26 and is described as one of the prominent players in the organised jewellery retail sector in India. It operates as a single reportable segment with no subsidiaries, joint ventures or associate companies.^[1][2]

Business segments

The company operates as a single reportable segment: manufacturing and sale of jewellery, substantially within India, per Ind AS 108 in FY26.^[1]
All FY26 revenue of ₹489.54 crore came from domestic sales; export sales were nil in FY26 versus ₹37.90 lakhs in FY25.^[1]

Products and brands

The Motisons brand covers gold jewellery, diamond jewellery, precious stone jewellery, gold and diamond-studded jewellery, and silver articles, with a special focus on certified diamond jewellery.^[1]
Collections span wedding jewellery, festive and occasion wear, contemporary daily-wear jewellery, party wear, and everyday wear segments.^[1]
The product portfolio exceeds 300,000 designs across categories and price segments as of FY26.^[1]

Operations

The company operates four showrooms in Jaipur, with retail presence at Johari Bazar and Tonk Road locations.^[1]
Manufacturing units are located in SEZ Sitapura, Jaipur and Bapunagar, Tonk Road, Jaipur.^[1]

Key operating metrics

Gold forms approximately 30% to 50% of the cost of the finished product, exposing the company to bullion price risk in FY26.^[1]
Net debt reduced from ₹6,411 lakhs to ₹2,194 lakhs in FY26; capital gearing ratio (equity/net debt) improved from 6.45x to 22.75x.^[1]
Debt-equity ratio improved from 0.17 to 0.08 in FY26, reflecting reduced total debt and increased shareholders' equity.^[1]

Customers and distribution

The company sells entirely through its own showrooms in Jaipur; all FY26 revenue was from the domestic market with no export sales recorded.^[1]

Capital raising and expansion

Board approved a QIP of up to ₹350 crores on 6 March 2026; members approved via postal ballot on 25 April 2026. Post-QIP paid-up equity stands at 1,13,75,06,600 shares of ₹1 each.^[1]
Share warrants of ₹3,514.75 lakhs remained outstanding and pending conversion to equity as at 31 March 2026.^[1]

Recent developments

Short-term borrowings reduced by ₹3,324.19 lakhs during FY26; director unsecured loans reduced from ₹6,927.52 lakhs to ₹3,504.45 lakhs through repayments.^[1]
Customs duty on jewellery was reduced from 25% to 20% under Union Budget 2025-26, benefiting domestic demand and cost competitiveness.^[1]
India-UK Free Trade Agreement is expected to provide duty-free access for Indian jewellery exports to the United Kingdom.^[1]
Statutory auditor change proposed for FY27: M/s N.K. Aswani & Co. to replace M/s Keyur Shah & Co. (completing 5-year term) at approximately ₹12 lakhs per year.^[1]

Market Cap

₹1,706 Cr

High / Low

₹20 / 11

Stock P/E

22.7

Price / Book

3.0

Book Value

₹5

EPS

₹0.6

No. of Shares

100.18 Cr

ROCE

17.6%

ROE

14.0%

OPM

18.4%

Debt / Equity

0.08

Sales

₹490 Cr

Net Profit

₹64 Cr

Promoter holding

57.1%

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