Shanti Gold profits double to ₹1,401 cr as revenue climbs 82%

What's new with Shanti Gold International Ltd.

• Annual revenue reached ₹20,187 crore, rising 82% from FY25 levels.
• Auditors flagged a retrospective shift in inventory valuation from FIFO to weighted average cost.
• The board secured an unmodified audit opinion on the full-year results.

Why this matters for Shanti Gold International Ltd.

The profit jump in a high-gold-price environment confirms the company can translate inventory value into cash. The unmodified opinion suggests the accounting shift is procedural rather than an attempt to mask balance-sheet issues.

What we're watching

• Sustained margin pressure if gold price volatility increases.
• Inventory turnover rates under the new weighted average cost accounting method.
• Volume growth vs. price-driven revenue gains in the upcoming quarter.

The full read

Shanti Gold International closed FY26 with **₹20,187 crore** in revenue, an **82%** increase over the previous year. Net profit more than doubled to **₹1,401 crore**, a **159%** gain. The company attributes this performance to higher gold prices and strong wedding-season demand, matching the **120%** revenue jump reported in earlier quarterly updates. Auditors flagged a retrospective change in inventory valuation from FIFO to a weighted average cost method effective from April 2024. They issued an unmodified opinion on the financials regardless of this change. For a micro-cap player, the growth is significant. The next test is whether this momentum persists if gold prices stabilize or if the company relies on the inventory revaluation to manage its bottom line in leaner quarters. For now, the books are clean.