Back to all startups
Malabar Gold & Diamonds
Jewellery · Gold / diamond / global retail
Private (IPO target FY28)India
HQKozhikode, Kerala, India
Founded1993
FoundersM.P. Ahammed
RegionIndia
Financials
FY24 Revenue~₹48,200 Cr (FY24, derived)
FY25 Revenue₹66,106.3 Cr (FY25)
YoY growth+37.1% FY25
Profitabilityprofitable
Channels & Distribution
Offline · 95%
D2C—
Marketplace—
Offline95%
Stores391
Tech stack
Primary stackCustom
Shopify share0%In-house: 100%
Mobile appYes
Stack signals
Enterprise custom + ERP
CRM: In-house
Analyst notes
FY25 PAT ₹1,566.9 Cr (+83.5%); EBITDA ₹1,654.8 Cr. 391 showrooms India + 14 countries. 5th-6th largest jewellery retailer globally per Deloitte.
Confidence: verifiedVerified 5 Jun 2026
Funding
Latest round—
Round size—
Total raised—
Valuation—
More in Jewellery
Tanishq
ProfitJewellery•Gold / diamond / bridal / mass-premium fine
Bengaluru 1994Public
FY25 Rev₹46.6K Cr
D2C8%
Stores900
CustomHas appIndia
Joyalukkas
ProfitJewellery•Gold / diamond / global retail
Thrissur 1987Private (IPO withdrawn)
FY25 Rev₹20.2K Cr
D2C—
Stores85
CustomHas appIndia
CaratLane
ProfitJewellery•Diamond / contemporary fine
Chennai 2008Acquired (Titan 100%)
FY25 Rev₹4.2K Cr
D2C—
Stores262
CustomHas appIndia