On Monday, June 8, 2026, Shanti Gold International Limited announced the formal completion of its capacity expansion and the immediate commencement of commercial production at its new multi-story manufacturing facility in Marol, Andheri East, Mumbai.
The operational milestone marks the successful, on-schedule delivery of the corporate expansion strategy originally initiated and disclosed to exchanges on January 22, 2026.
Project Blueprint: Scaling the Andheri Hub
The new facility transitions Shanti Gold—a premier specialist in high-end 22-karat Cubic Zirconia (CZ) casting gold jewelry—into a high-volume, tech-driven B2B manufacturing engine.
- Location Stack: Occupying an expansive, vertical industrial footprint from the Ground to the 3rd Floor at Concast House, Plot No. 1, Compartment No. 5, Marol Co-operative Industrial Estate, Vasanji Road, Mumbai.
- Capacity Injection: Adds approximately 4,000 kg (4 metric tonnes) per annum to the company’s baseline manufacturing capacity.
- The Production Leap: Prior to this launch, Shanti Gold’s core Andheri operations maintained an installed capacity of roughly 2,700 kg per annum. This massive Marol addition, combined with an upcoming 1,200 kg per annum facility in Jaipur, sets the company on track to hit a total unified manufacturing capacity of nearly 7,900 kg per annum.
- Infrastructure Strategy: The 28,000 sq. ft. Mumbai facility is designed to blend computerized automated casting machinery with high-skill traditional artisan craftsmanship, keeping its agile design-to-delivery turnaround time under a strict 14-day window.
Strategic Rationale: Feeding the Organised Retail Boom
Shanti Gold’s capital layout comes at a time when India’s domestic gems and jewelry landscape is undergoing rapid institutional changes.
- Chasing Organized Volume: The Indian retail jewelry sector is transitioning swiftly from unorganized standalone family shops to large, national corporate retail chains (e.g., Titan, Kalyan Jewellers, Malabar Gold). These institutional buyers require massive, continuous, and highly uniform product lines that only large-scale automated manufacturers can supply.
- Inventory De-risking: Operationally, Shanti Gold recently shifted its internal inventory valuation methodology from First-In, First-Out (FIFO) to Weighted Average Cost (WAC). Retrospectively applied, this adjustment helps smooth out balance-sheet spikes caused by global gold price volatility while the new 4,000 kg capacity ramps up.
- Fueling Global Export Corridors: Beyond feeding national retail partners in North and South India, the extra production volume is directly earmarked to service high-value export orders across established strategic hubs in the UAE, Singapore, Qatar, and the United States.
“The expanded capacity positions us strongly to meet the rising demand from our retail partners and enables us to scale our operations while maintaining the quality and design excellence that our customers rely upon. We remain focused on deepening our existing client relationships and building new long-term partnerships.” — Pankajkumar Jagawat, Chairman & Managing Director, Shanti Gold International.
Financial Context: A Strong Growth Base
The capacity injection follows a breakout financial performance. For the full fiscal year FY26, Shanti Gold’s revenue from operations skyrocketed by 82.46% year-on-year to ₹2,018.71 crore (up from ₹1,106.41 crore in FY25). Full-year Profit After Tax (PAT) stood at ₹140.15 crore, proving that the company has the strong capital cushion needed to absorb and utilize this major factory footprint expansion.
