Nityas Gems and Jewellery India Limited
RHP · filed 25 Sept 2026
Nityas Gems and Jewellery India Limited is a company with a revenue of Rs 202.894 crore and a profit after tax of Rs 22.315 crore, having achieved a revenue CAGR of 94.46% and a return on equity of 28.09%. The offer structure is not detailed in the provided text, and the company's financial trajectory is not explicitly described. The most material risk is high customer concentration, as the top 10 customers contributed 84.24% of revenue in Fiscal 2024, with a high severity risk that any adverse change in these customers could materially impact the company.
What stands out
Risk factor. Revenue from operations is significantly concentrated among a limited number of B2B customers. During Fiscal 2026, Fiscal 2025 and Fiscal 2024, our top 10 customers contributed 55.49%, 76.68% and 84.24% of our revenue from operations, respectively.
Risk factor. Any reduction in business from such customers or inability to diversify our customer base may materially and adversely affect our business, financial condition, results of operations, cash flows and prospects.
Risk factor. Our dependence on a limited number of customers exposes us to the risk that any adverse change in the business, financial condition, procurement strategies, inventory planning, credit policies or operational requirements of such customers could have a disproportionate and material impact on our busi
Low leverage. Debt-to-equity of 0.29x.
Strong revenue growth. Restated revenue CAGR of 94.5%.
Healthy return on equity. ROE of 28.1%.
How the offer is structured
- Funding Working Capital requirements of our Company₹70.0 Cr
- General corporate purposes
Restated financials
Revenue
₹203 Cr
Latest fiscal year
Profit after tax
₹22.3 Cr
Revenue CAGR
94.5%
Return on equity
28.1%
Debt / equity
0.29
PAT CAGR
135.5%
| Fiscal year | Revenue | EBITDA | PAT | Net worth |
|---|---|---|---|---|
| 2024 | ₹53.7 Cr | ₹4.0 Cr | ₹5.3 Cr | |
| 2025 | ₹96.8 Cr | ₹9.8 Cr | ₹22.6 Cr | |
| 2026 | ₹203 Cr | ₹22.3 Cr | ₹79.4 Cr |
Promoters, litigation & related parties
Promoter (pre)
52.0%
Except as stated in this section, there are no outstanding: (a) criminal proceedings; (b) actions by statutory or regulatory authorities; (c) claims relating to direct and indirect taxes (in a consolidated manner); and (d) Material Litigation (as defined below); involving our Company, our Directors and our Promoters. Further, except as stated in this section, there are no disciplinary actions (including penalties) imposed by SEBI or the Stock Exchanges against our Promoters in the last five (5) FYs, including any outstanding action. Further except as stated in this section, there are no outstanding (i) criminal proceedings and (ii) actions taken by regulatory or statutory authorities, against any Key Managerial Personnel and Senior Management of our Company. It is clarified that for the above purposes, pre-litigation notices received by Relevant Parties, unless otherwise decided by our Board, are not evaluated for materiality until such time that the Relevant Parties are impleaded as defendants in litigation proceedings before any judicial forum. Except as stated in this Section, there are no outstanding material dues to creditors of our Company.
Risks the company discloses
Revenue from operations is significantly concentrated among a limited number of B2B customers. During Fiscal 2026, Fiscal 2025 and Fiscal 2024, our top 10 customers contributed 55.49%, 76.68% and 84.24% of our revenue from operations, respectively.(Customer Concentration)
Any reduction in business from such customers or inability to diversify our customer base may materially and adversely affect our business, financial condition, results of operations, cash flows and prospects.(Customer Concentration)
Our dependence on a limited number of customers exposes us to the risk that any adverse change in the business, financial condition, procurement strategies, inventory planning, credit policies or operational requirements of such customers could have a disproportionate and material impact on our business and financial performance.(Customer Concentration)
We entered into D2C model in July 2025 through the acquisition of Ayaani Diamonds and Jewellery Private Limited, which was previously one of our key B2B customers.(Business Strategy)
We do not separately track or maintain revenue from operations at an individual product-category level in our accounting and management information systems.(Operational)
Transaction with Ayaani Diamonds and Jewellery Private Limited were undertaken at arms length basis.(Related Party)
All related party transactions entered into by the Company during the relevant period were undertaken in the ordinary course of business and on an arm's length basis.(Related Party)
Names of the customers have not been included in the above table as this information is commercially sensitive to our business and we have not received consents for all such customers.(Information Disclosure)
How this document reads, dimension by dimension
Each bar is a fixed formula applied to the figures shown above, scored 0–100. This is a reading of what the company disclosed — not a recommendation to apply or avoid, not a price target, and not a prediction of listing performance. Dimensions that could not be extracted are excluded rather than assumed, so coverage varies between documents.