Shankesh Jewellers Limited
Closed18–20 Aug 2026
Updated 2026-08-21 (IST)
Business overview
Shankesh Jewellers Limited is a B2B company based in Mumbai's Zaveri Bazaar, with a pan-India presence. The company specializes in hand-crafted gold jewellery, acting as a principal contractor that manages design, material sourcing, and finished jewellery-making processes, which are outsourced to skilled local Karigars through jobworkers.
Profit & Loss
Rs crore · AnnualLatest year highlighted in green. Sparklines show the trend.
| 2024 | 2025 | 2026 | ||
|---|---|---|---|---|
| Sales | 1,062 | 1,404 | 1,631 | |
| Operating Profit | 29 | 65 | 158 | |
| OPM % | 2.7% | 4.7% | 9.7% | |
| Net Profit | 13 | 40 | 107 | |
| Total Debt | 110 | 146 | 168 |
Promoters
- Kantilal Kheemraj Jain — Chairman and Non-Executive Director
- Mahavir Kantilal Jain — Whole Time Director
- Manoj Kantilal Jain — Managing Director
Strengths & risks
Company-stated strengths and disclosed risk factors from the offer document.
- Strong historical financial results (p.201)
- Long Term Relation with local Jobworkers for handling custom hand-crafted gold jewellery making process (p.201)
- Asset-Light business model (p.202)
- Wide product range in hand crafted gold jewellery (p.202)
- Commitment to Quality and Customer Satisfaction (p.202)
- Our business and the demand for our product is reliant on the success of our customers' products with end consumers. (p.25)
- Jewellery purchases are discretionary and often perceived as luxury purchases, which are sensitive to economic downturns. (p.25)
- A significant portion of our business operations and revenue generation is concentrated in the Top 5 states. (p.25)
- We operate in a high-value commodity sector and there are certain security risks associated with the transit and delivery of gold jewellery. (p.25)
- We are dependent on third party Jobworkers for the production and manufacturing of all of our products. (p.25)
Peer comparison — DRHP median P/E 22.4x
Live BSE prices| Company | CMP | P/E | OPM% | ROE% | Source |
|---|---|---|---|---|---|
| Shanti Gold International Limited | Rs 254.45 +5.7% | 10.0x | 10.2% | — | live |
| Sky Gold & Diamonds Limited | Rs 778.25 +0.0% | 35.1x | 7.2% | 69.0% | live |
P/E from offer document where live data unavailable. Not a fair-value judgement.
Market & competition
Shankesh Jewellers operates as a B2B supplier of hand-crafted gold jewellery, competing against domestic manufacturers and traders by offering diverse categories under one roof with optimized delivery timelines. Key listed peers include Shanti Gold International Limited and Sky Gold & Diamonds Limited.
Future outlook
The company plans to capture market opportunities in the growing jewellery industry by scaling operations to handle increased demand and leveraging expertise to secure more business from existing clients. It also aims to augment fund-based capacities, reduce debt dependence, and continue investing in marketing and brand building initiatives through participation in exhibitions and targeted advertisements.
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Sources & method
Subscription and issue data come from the NSE and BSE exchange feeds, with the third-party aggregator, clearly labelled, where an exchange feed is unreachable. DRHP analysis is extracted from the offer document itself, every figure cited to its page. Each figure on the page carries its source and its timestamp.
Grey-market premium (GMP) is unregulated.
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