Page 4 - Jewellery

Organised jewellery retailers to witness 17-19% revenue growth: CRISIL

Organised gold jewellery retailers are expected to clock 17-19 per cent year-on-year revenue growth in 2024-25, driven by higher realisations following a surge in gold prices, while volume is likely to remain steady, a report said on Wednesday. The revenue of organised gold jewellers is expected to rise 17-19 per cent this fiscal, while volume growth is likely to stagnate due to rising gold prices, Crisil Ratings said in a report. The report further stated that the working capital requirements of retailers might increase due to higher inventory levels resulting from the substantial rise in gold prices and new store additions. However, credit profiles should remain stable, it added. The organised sector accounts for slightly more than a third of the market, with the highly fragmented unorganised sector making up the rest, it noted. Domestic gold price increased 15 per cent during FY24 and reached Rs 67,000 per 10 grams at the end of March 2024, Crisil Ratings said. Gold prices inch

Bond market boost, jewellery for the ages: Top personal finance stories

Our top stories this week tell you about how to enter the bond market and how traditional jewellery is being redesigned

Titan Q4 results: Net profit up 7% at Rs 786 crore, revenue rises 17%

The company's reported a profit of Rs 786 crore ($94.2 million) in the quarter ended March 31, up 7.1% from last year, but missing analysts' expectation of Rs 799 crore as per LSEG data

Behind the glitter: Why is gold going up in value, how should you invest?

It is not an interest-bearing asset and has precious little industrial use

Titan Q4 results: Revenue grows 17% on robust demand for jewelry products

The jewelery segment, which houses brands including Tanishq and CaratLane, was boosted by healthy inflow of buyers and double-digit percentage growth in its same-store sales

Businesses have responsibility to build strong, inclusive India: Ambani

Richest Indian Mukesh Ambani on Saturday said the business community has the responsibility to build a stronger and more inclusive India. Addressing an event organised by the Gems and Jewellery Exports Promotion (GJEPC) here, the chairman and managing director of Reliance Industries also exuded confidence that the industry will reach its goal of touching USD 100 billion in exports in the next few decades. "All of us collectively in the business community have a responsibility to build a stronger, better and more inclusive India to fulfil the vision and the goal that our PM has set for us, that of a Viksit Bharat, a fully developed India in the next decades," he said. Ambani congratulated the gems and diamonds industry for the work they have done over the past few decades to reach USD 40 billion in exports and create over 50 lakh jobs in the country. From modest beginnings, the industry led by people from Palanpur made big strides, Ambani said, stressing that he is "proud" of the ...

Lighthouse invests Rs 284 crore in silver jewellery brand Kushal's

Private equity platform Lighthouse on Wednesday said it has invested Rs 284 crore in fashion and silver jewellery brand Kushal's. The money raised will be deployed for brand building, hiring people, technology and also scaling up the retail presence. The investment by Lighthouse India Fund IV AIF also includes a secondary purchase from India SME Investments. India SME Investments was the first institutional investor in Kushal's and is partially selling its holding through the deal, according to a statement. The company founded in 2006 retails its products through more than 75 stores across 25 cities in India and also online. Lighthouse Managing Director Anshul Jain said the company is organising the large, fragmented fashion jewellery market in India with its premium product range and added that fashion jewellery is becoming an integral part of people's lifestyle now. "As we gear up for the next leg of our growth, we look forward to their (Lighthouse) guidance and support, given t

PC Jeweller Q3 results: Loss widens to Rs 198 crore, revenue down 95%

The company has proposed a one-time settlement of its unpaid debt to lenders, who have agreed in-principle to seek internal approval for the proposal, it said on Wednesday

Happy Valentine's Day 2024: Gift options to surprise your wife/girlfriend

Happy Valentine's Day 2024: Are you planning to surprise your wife or girlfriend with special gifts? Here are some of the gift options that you can explore and make your partner's day special

Despite Q3 margin miss, Street remains positive on Titan's prospects

Analysts remain cautious about near-term consumption trend

Cut duty, increase PAN card transaction limit: Jewellery industry to govt

The gems and jewellery industry has urged withdrawal of hike in Basic Customs Duty (BCD) on import of gold in the coming interim Budget and asked the government to introduce a rationalised tax structure. "The jewellery industry contributes nearly 7 per cent of India's GDP and hence, deserves a pro-business environment," apex body for the gems and jewellery industry All India Gem And Jewellery Domestic Council Chairman Saiyam Mehra told PTI. "This will also benefit the government. We urge the finance ministry to withdraw the increase in BCD on gold in the upcoming Union Budget and a rationalised tax structure may be developed to tackle the CAD issue," Mehra said. Currently, the BCD is at 12.5 per cent ad valorem, which takes the total tax to 18.45 per cent on the imported gold, he added. He further urged the government to increase the PAN card transaction limit to Rs 5 lakh from the present Rs 2 lakh as gold prices have surged. "With the rising gold rate, there is an urgent need to

Sky Gold Q3 results: Net profit soars 41% to Rs 6 cr, income at Rs 460 cr

Jewellery firm Sky Gold Ltd has posted a 41 per cent increase in its consolidated net profit to Rs 8.93 crore for the quarter ended December 2023. Its net profit stood at Rs 6.34 crore in the year-ago period. Total income also rose to Rs 460.90 crore in the third quarter of the current fiscal from Rs 267.56 crore in the corresponding period of the previous year, the company said in a statement on Monday. Established in 2008, the Mumbai-based company is engaged in the business of designing, manufacturing and marketing of gold jewellery. It works on a B2B model with leading jewellery retailers and large wholesalers.

'Robust branding strategy crucial to make India as top jewellery supplier'

The Directorate General of Foreign Trade (DGFT) on Wednesday pitched for formulating a robust branding strategy positioning India as a top supplier and value-added provider of gold jewellery. "India stands as one of the largest buyers of gold globally, showcasing considerable buying power that can potentially influence the streamlining of gold prices and availability. "Recognising the fragmented nature of gold demand in India, spanning from small to large jewellers and varying from kilograms to tonnes, there's a pressing need for streamlining exports," DGFT Director General Santosh Kumar Sarangi said. He was speaking at the 4th edition of the 2-day 'India Gold & Jewellery Summit' that concluded on Wednesday. "Collaboration between the Department of Commerce, GJEPC, and leading brands is essential to formulate a robust branding strategy positioning India as a top supplier and value-added provider of gold jewellery," he said. According to him, the potential of e-commerce in cross ..

Gem, jewellery exports slip 8.14% to Rs 18,281 crore in December: GJEPC

The overall gems and jewellery exports fell 8.14 per cent year-on-year in December to Rs 18,281.49 crore (USD 2,195.23 million), according to data released by the Gem Jewellery Export Promotion Council (GJEPC). The total exports stood at Rs 19,901.55 crore (USD 2,413.46 million) in the corresponding month of 2022, GJEPC said in a statement. "Sluggish demand across key export markets, geo-political scenario, and India and the USA, among 60 countries, going for elections this year, impacted the exports," GJEPC chairman Vipul Shah told PTI. Meanwhile, the overall exports of cut and diamonds dipped by 31.42 per cent to Rs 7,182.53 crores (USD 862.48 million) in December compared to Rs 10,472.93 crore (USD 1,270.36 million) for the same period of the previous year. However, the gold jewellery exports in December grew by 47.32 per cent to Rs 7,508.05 crore (USD 901.52 million) compared to Rs 5,096.25 crore (USD 618.27 million) for the same period of the previous year.

Sovereign gold bonds shine in FY24 as high returns attract investors

The reason for the good response in FY21 and FY22 was because of the lockdown and as the jewellery stores were not open while SGB buying was possible through net banking

After CLSA, Goldman eyes 'affluent India' play and identifies key themes

Identifies key themes like leisure, jewellery, out-of-home food, healthcare and premium brands as growth areas

Keen to expand ECGC cover, form committee to boost jewellery export: Goyal

Union minister Piyush Goyal on Thursday said the government is keen to expand ECGC cover and asked gems and jewellery industry leaders to form a committee to help exporters in the sector. "We have started giving ECGC (formerly Export Credit Guarantee Corporation of India) cover for the whole turnover...we are keen to expand, and I ask the captains of the industry to see how we can have an industry-ECGC-government partnership, which will ensure the baggage of the past can be erased. "If the industry and the government can come together and work together, I am sure we can look at individual policies also for individual exports," Goyal said while addressing the inaugural session of the 4-day IIJS (India International Jewellery Show) Signature 2024 Gem and Jewellery Trade Show. The commerce and industry minister suggested forming a committee consisting of ECGC, the government and GJEPC representatives to develop a certain mechanism that will help the industry to cross the hump and start

Market share gains, margins and store network expansion to support Titan

Valuations may continue to trade at a premium

SGB scheme: Final redemption price for 1st tranche set at Rs 6,132 a unit

The interest on the Gold Bonds commences from the date of its issue, which has a fixed rate of interest at 2.75 per cent per annum on the amount of initial investment

Market share gains, margins and store network expansion to support Titan

The company delivered a better than expected performance in Q2FY24 on the back of healthy revenue growth and expansion in operating profit margins