Malabar Gold and Diamonds
Financial Performance
Malabar Gold and Diamonds Revenue & Financials
Revenue
~$7.8B (FY2025)
Employees
21,000
What is Malabar Gold and Diamonds's revenue?
Malabar Gold and Diamonds had ~$7.8B in revenue for fiscal year 2025, up 30.6% from 2024.
- Latest revenue
- ~$7.8B (FY2025)
- Year-over-year
- +30.6%
- Peak revenue
- ~$7.8B (FY2025)
- Years of data
- 3
- Employees
- 21,000
- How many employees does Malabar Gold and Diamonds have?
- Malabar Gold and Diamonds has about 21,000 employees.
Financial Analysis
Malabar does not publish audited group accounts, so figures come from company releases and regulatory-filing summaries. The group reported global retail turnover of ~$5.94 billion (₹51,218 crore) for FY2023-24 and about $7.31 billion (₹63,000 crore) for FY2024-25, when it set a FY2025-26 target of ~$9.05 billion (₹78,000 crore) and committed over $580 million (₹5,000 crore) to expansion. The Hurun India-JM Financial Unlisted Gems 2026 list put the Indian company's revenue at ~$7.76 billion (₹66,872 crore), up 38% year on year. In March 2026 the company described its annual turnover as about $7.36 billion. Malabar Gold and Diamonds is a massive, privately held Indian jewelry retail chain generating colossal global annual revenues typically exceeding $5 billion.
Revenue Trend Analysis
YoY Change
+30.6%
Peak Year
2025
Trend
Not enough comparable years
Malabar Gold and Diamonds has 3 full fiscal year figures on this page. The most recent year saw a 30.6% increase versus the prior year. Annual revenue peaked in fiscal year 2025 at ~$7.8B. Of 1 comparable year-over-year step, 1 showed growth and 0 showed a decline.
Annual revenue history
| Fiscal Year | Revenue | YoY Change | Source |
|---|---|---|---|
| FY2025 | ~$7.8B | +30.6% | Hurun India-JM Financial Unlisted Gems 2026 Revenue of the Indian company, up 38% year on year; the company separately cited about $7.31 billion (₹63,000 crore) group turnover for FY2024-25. |
| FY2024 | ~$5.9B | — | Malabar Gold & Diamonds release via ETRetail Global retail turnover for FY ended 31 March 2024. |
| FY2023unaudited | ~$4.6B | — | Marc Glocal jewellery market report Industry-report estimate of FY2023 revenue at INR 40,000 crore; Malabar is privately held. |
Click any row to see year details.
Keep researching Malabar Gold and Diamonds
Malabar Gold and Diamonds Revenue and Financial FAQ
What was Malabar Gold's turnover in FY2024-25?
Malabar said its turnover was about $7.31 billion (₹63,000 crore) in FY2024-25, up from ~$5.94 billion (₹51,218 crore) global retail turnover in FY2023-24.
What revenue target did Malabar set for FY2025-26?
In June 2025 the company targeted ~$9.05 billion (₹78,000 crore) turnover for FY2025-26, backed by 60 new showrooms and over $580 million (₹5,000 crore) of investment.
Does Malabar Gold publish audited accounts?
As an unlisted company it does not publish group results like a listed firm. Figures come from company releases and filings summarised by trackers such as Hurun India, which reported ~$7.76 billion (₹66,872 crore) revenue for its Indian company.
Is Malabar Gold planning an IPO?
The chairman said in 2024 that the group aimed to list in 2026. No IPO had been filed as of October 2026.
Is Malabar Gold a financially successful company?
Incredibly successful. They are one of the top five largest jewelry retailers globally by revenue. What makes their financials highly unique is their ownership structure: they have over 4,000 private investors (mostly from the Middle East and Kerala) who receive massive dividends. This unique "corporate cooperative" model allowed them to scale to over $4 billion in annual turnover without ever needing a public IPO.
Cite or embed this data
Using these figures? Please credit CorpDigest with a link.
CorpDigest. "Malabar Gold and Diamonds Revenue & Financials." CorpDigest, https://corpdigest.com/company/malabar-gold-and-diamonds/financials.<div style="font-family:system-ui,sans-serif;font-size:14px;line-height:1.5;border:1px solid #e2e8f0;border-radius:8px;padding:12px 16px;max-width:520px"><strong>Malabar Gold and Diamonds reported ~$7.8B in revenue (FY2025).</strong><br>Source: <a href="https://corpdigest.com/company/malabar-gold-and-diamonds/financials" target="_blank" rel="noopener">CorpDigest — Malabar Gold and Diamonds financials</a></div>Related Financial Audits
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