Lalithaa Jewellery Mart share price hit a 5% upper circuit at ₹352.80 on the BSE on Wednesday, 23 September. The stock has gained 36% this month and is up 75% from its IPO price. Meanwhile, the company expanded its retail presence by opening its 66th showroom in Mayiladuthurai, Tamil Nadu.
Lalithaa Jewellery Mart share price was locked in a 5% upper circuit at ₹352.80 per share on the BSE on Wednesday, 23 September. The newly listed stock has gained around 36% so far in September and is up nearly 75% from its IPO price of ₹201 per share.
Lalithaa Jewellery Mart share price today opened at an intraday low of ₹341 apiece on the BSE, the stock touched an intraday high of ₹352.80 per share.
Lalithaa Jewellery Mart has expanded its retail presence by launching its 66th showroom in Mayiladuthurai, Tamil Nadu. The 6,770 sq ft outlet is located at No. 154, Pattamangala Street, Kamarajar Salai.
To mark the opening, the jewellery retailer is offering introductory discounts until 30 September 2026. These include a 2% discount on gold value addition (VA), zero VA on gold coins, an additional ₹150 per gram on old gold exchange, and a discount of ₹12,000 per carat on diamonds.
Since April 2026, the company has increased its retail footprint from 61 to 66 stores, adding five outlets.
However, profitability moderated during the quarter. EBITDA stood at ₹376 crore, compared with ₹442 crore a year earlier, while EBITDA margin declined to 6.2% from 9.2%. Profit after tax (PAT) fell to ₹208 crore from ₹266 crore in Q1 FY26.
Despite this, the company's core gross margin -- representing the margin generated from making charges -- improved by 20 basis points year-on-year. The company said this improvement reflects the underlying strength of its jewellery operations, supported by its focus on making charges, product mix and pricing.
The company added that making-charge revisions implemented in Q4 FY26 and towards the end of Q1 FY27 are expected to progressively support underlying gross margins as the revised pricing structure gains greater representation across sales.
The company expects volatility in gold prices to continue influencing purchase volumes and product mix, but remains positive about the long-term opportunity in organised jewellery retail.
Lalithaa Jewellery highlighted its integrated manufacturing capabilities, extensive karigar network and disciplined operating model as key factors supporting its store expansion. The company said these capabilities allow it to scale while maintaining its value proposition and customer trust.
Going forward, the company said it remains focused on disciplined growth and operational execution while continuing to offer value to customers.