Ashapuri Gold Ornament Ltd Q2 2026 Earnings Call Transcript

The following is excerpted from the question-and-answer section of the transcript.

Question: Pratham Shah - E Stock Mantra - Analyst : So my first question is can you elaborate on key demand drivers behind 20% year-on-year growth in sales volume? How sustainable do you believe this in momentum across the region.

Question: Pratham Shah - E Stock Mantra - Analyst : Okay, but, what trends are you seeing at retailer level in terms of sales through your designs and how does it-- how does that influence your demand forecasting upcoming quarters?

Question: Pratham Shah - E Stock Mantra - Analyst : Okay, what trends are you seeing at the retailer level in terms of your designs and how does your-- how do you influence your demand forecasting upcoming quarters? REFINITIV STREETEVENTS | www.refinitiv.com | Contact Us consent of Refinitiv. 'Refinitiv' and the Refinitiv logo are registered trademarks of Refinitiv and its affiliated companies. NOVEMBER 18, 2025 / 8:30AM, ASHD.BO - Q2 2026 Ashapuri Gold Ornament Ltd Earnings Call

Question: Pratham Shah - E Stock Mantra - Analyst : Okay. Yes. Given your strong response at IIJS 2025 what insight do you gather on changing consumer design preference across North, West or South India?

Question: Pratham Shah - E Stock Mantra - Analyst : Sorry, okay, can you give me strong-- given your strong response at IIJS 2025. What insight have you gathered on changing consumer design preference across North, West or South India?

Question: Pratham Shah - E Stock Mantra - Analyst : Okay, and do we share more color-- do you share more color on current order book (inaudible) INR102 crores. Sorry, let me repeat my question. There is sound a little bit around me. So, would you please share more colour on current order book visibility beyond INR102 crores orders and INR5.41 crores orders from NAM particularly in the pipeline and inquiry levels.

Question: Pratham Shah - E Stock Mantra - Analyst : Okay, fine, I will get back in the queue because, I will come back up after some times. REFINITIV STREETEVENTS | www.refinitiv.com | Contact Us consent of Refinitiv. 'Refinitiv' and the Refinitiv logo are registered trademarks of Refinitiv and its affiliated companies. NOVEMBER 18, 2025 / 8:30AM, ASHD.BO - Q2 2026 Ashapuri Gold Ornament Ltd Earnings Call

Question: Vinod Shah - VS Ventures - Analyst : Hello, good afternoon, sir. I'm audible. Yes.

Question: Vinod Shah - VS Ventures - Analyst : Can you share on the traction you're seeing in the Aneya collection and what is the share of polki and diamond jewellery in your current order pipeline?

Question: Vinod Shah - VS Ventures - Analyst : So can you walk us through a few drivers like which type of categories are driving our order book?

Question: Vinod Shah - VS Ventures - Analyst : Yes, yes. Jewellery brands and many categories. What is driving our order book? That's what I want to know.

Question: Vinod Shah - VS Ventures - Analyst : Okay, and sir, our current utilisation level is 90%-plus, right? 93%? REFINITIV STREETEVENTS | www.refinitiv.com | Contact Us consent of Refinitiv. 'Refinitiv' and the Refinitiv logo are registered trademarks of Refinitiv and its affiliated companies. NOVEMBER 18, 2025 / 8:30AM, ASHD.BO - Q2 2026 Ashapuri Gold Ornament Ltd Earnings Call

Question: Vinod Shah - VS Ventures - Analyst : So like how are we planning to support our incremental order?

Question: Vinod Shah - VS Ventures - Analyst : Okay, and (spoken in foreign language).

Question: Vinod Shah - VS Ventures - Analyst : (spoken in foreign language).

Question: Vinod Shah - VS Ventures - Analyst : Are you planning to launch any new products and like what state?

Question: Pratham Shah - E Stock Mantra - Analyst : Hello. Thank you, sir. So I have a couple of questions again that how is the client benefiting national chain, regional retailers, corporate clients evolving and what's the strategic shift are you planning to deepen this relationship? REFINITIV STREETEVENTS | www.refinitiv.com | Contact Us consent of Refinitiv. 'Refinitiv' and the Refinitiv logo are registered trademarks of Refinitiv and its affiliated companies. NOVEMBER 18, 2025 / 8:30AM, ASHD.BO - Q2 2026 Ashapuri Gold Ornament Ltd Earnings Call

Question: Pratham Shah - E Stock Mantra - Analyst : No. How-- I mean, how do you plan to shift, deepen this relationship. What we already have, so.

Question: Pratham Shah - E Stock Mantra - Analyst : Okay. And regarding the raw material, how have you-- I mean your raw material procurement time, what are your raw material procurement time mentioned price volatility impacted production, I mean, how does it--

Question: Pratham Shah - E Stock Mantra - Analyst : Okay. But how does, you know?-- (spoken in foreign language).

Question: Pratham Shah - E Stock Mantra - Analyst : Okay.

Question: Pratham Shah - E Stock Mantra - Analyst : Okay. (spoken in foreign language). REFINITIV STREETEVENTS | www.refinitiv.com | Contact Us consent of Refinitiv. 'Refinitiv' and the Refinitiv logo are registered trademarks of Refinitiv and its affiliated companies. NOVEMBER 18, 2025 / 8:30AM, ASHD.BO - Q2 2026 Ashapuri Gold Ornament Ltd Earnings Call