Lalithaa Jewellery opens 66th showroom as network adds five stores since April

The jeweller’s new 6,770 sq ft Mayiladuthurai showroom takes its network to 66 stores. Q1 FY27 revenue rose 26% to ₹6,035 crore, while EBITDA margin fell to 6.2% as inventory gains declined.

— Source publishedWed, 23 Sept, 2026, 10:54 IST·First seen Wed, 23 Sept, 2026, 10:59 IST·Source Mint · Markets

What happened

Lalithaa Jewellery Mart opened its 66th store in Mayiladuthurai, taking its network from 61 stores since April. Q1 FY27 revenue rose 26%, though EBITDA and PAT

Key facts

  • Share price hit 5% upper circuit at ₹352.80
  • Stock gained around 36% in September
  • Stock up nearly 75% from ₹201 IPO price
  • 66th showroom spans 6,770 sq ft
  • Retail footprint increased from 61 to 66 stores since April 2026
  • Q1 FY27 revenue ₹6,035 crore, up 26% from ₹4,794 crore
  • EBITDA ₹376 crore versus ₹442 crore; margin 6.2% versus 9.2%
  • PAT ₹208 crore versus ₹266 crore
  • Core gross margin improved 20 basis points

Why this matters

Lalithaa’s 66-store network and rapid recent additions strengthen its regional jewellery retail scale, potentially increasing competitive pressure for local chains and attractive acquisition targets.

What to watch

  • Quarterly same-store sales growth versus contribution from new stores.
  • EBITDA margin movement after the decline to 6.2%, especially inventory-gain impact and making-charge realization.
  • Gold-price volatility and its effect on consumer purchase timing, exchange volumes and working capital.
  • Store-opening cadence beyond the current 66-store network and evidence of geographic expansion outside core markets.
  • Competitor discounting, exchange offers and showroom launches in Tamil Nadu tier-2 and tier-3 cities.
  • Prioritize further openings in tier-2 and tier-3 Tamil Nadu and adjacent South Indian markets where brand awareness can be built through television-led marketing.
  • Increase wedding, lightweight and diamond jewellery assortment to raise ticket size and reduce dependence on plain-gold margin dynamics.
  • Use the enlarged store network to improve gold inventory allocation, local sourcing and omnichannel fulfilment.
  • Competitors are likely to intensify festival promotions and announce counter-expansion in Mayiladuthurai-like catchments.