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Tara Jewels Ltd.

BSE: 534756 Sector: Consumer
NSE: TARAJEWELS ISIN Code: INE799L01016
BSE 00:00 | 03 Sep Tara Jewels Ltd
NSE 05:30 | 01 Jan Tara Jewels Ltd
OPEN 0.76
PREVIOUS CLOSE 0.75
VOLUME 501
52-Week high 1.14
52-Week low 0.57
P/E
Mkt Cap.(Rs cr) 2
Buy Price 0.85
Buy Qty 500.00
Sell Price 0.73
Sell Qty 17888.00
OPEN 0.76
CLOSE 0.75
VOLUME 501
52-Week high 1.14
52-Week low 0.57
P/E
Mkt Cap.(Rs cr) 2
Buy Price 0.85
Buy Qty 500.00
Sell Price 0.73
Sell Qty 17888.00

Tara Jewels Ltd. (TARAJEWELS) - Chairman Speech

Company chairman speech

We have established a leading edge in design and creativity presenceacross the jewellery value chain and an established global clientele. Our domain expertiseand the experience of our promoters in the Gems & Jewellery industry has provided uswith a competitive edge in the marketplace.

Dear Shareholders

I begin this letter with a sense of pride on how our Company has grownstronger over the years. With goals that are built for a longer time horizon we viewperiodic short-term challenges as speed bumps along the way. We remain unfazed towards ourobjectives and are determined to keep taking concrete steps towards enhancing ourpresence and serving the customers producing sustainable performance and focusing onlong-term shareholder value creation.

We are proud to have pioneered jewellery manufacturing in India throughour cutting-edge manufacturing facilities and patented technologies and to haverevolutionised low-cost jewellery manufacturing in India. Today we are an integratedplayer in the jewellery industry in India with a portfolio of studded gold platinum andsilver jewellery catering to a diverse audience across 20 countries in 5 continents.

Facing Challenges

With the Gems & Jewellery industry facing tough times whichimpacted the industry players we remain unfazed. We stood firm and tall and took certaintough choices to ensure business continuity. We adopted a pragmatic and cautious approachoptimally stretched the available resources and improved operational efficiencies. Fordelivering sufficient value to our shareholders we abstained from unfeasible businesseswhich was no longer viable. This was aimed at attaining stable cash flows improvingoperational margins and leading to assured sources of revenue. We also utilised theopportunity to sharpen our basics – strengthened our manufacturing capabilitieslowered operating costs and efficiently executed "value accretive" businesses.

Capitalising on our Proficiencies

We continued to serve diverse markets and continents through our vastlibrary of exclusive 50000 IP designs our state-of-the-art design and manufacturingcapabilities. However our performance has been reinforced by our asset light businessmodel and our strong pedigree of brands. We capitalised on having established a leadingedge in design and creativity presence across the jewellery value chain and anestablished global clientele. Our domain expertise and the experience of our promoters inthe gems & jewellery industry has provided us with a competitive edge in themarketplace.

It is the very adeptness of our manufacturing skills that we are nowleveraging to foray into the slowly-expanding segment of "lab-grown diamonds" inthe international market. With this we are leveraging our world-class manufacturingskills to create new designs by using these diamonds and supplying fashion jewellery toour international retailers. We hope to gain a decent market share in this segment.

Towards Scalable and Sustainable Growth

During the year we identified newer opportunities added newgeographies in the international markets built our brands and continued our focus onInternet-based and made-to-order jewellery. We were able to do this by leveraging our CADsoftware 3-D later printing and patented technologies in producing and supply exquisitejewellery to large jewellery retailers. Today as an integrated jewellery company andspecialty retailer of studded gold platinum and silver jewellery we remain poised toface the future.

I urge all our stakeholders to stay focused on the facts thefulfilment of our strategic plans and the proven performance record of the Company. Weremain solidly determined to deliver long-term and sustained value to our stakeholders.Our pragmatic approach gives us the confidence that when market conditions rebound oursolid foundation will see us advantageously into the future.

On behalf of the Management and Board of Directors I would like totake this opportunity to thank our shareholders and our employees for their contributionand support.

We also thank our retailers and business partners for their continuoustrust and confidence in the Company.

Warm Regards

Rajeev Sheth

Chairman & Managing Director