Khazanchi Jewellers Reports Remarkable 232 per cent Growth in Q1 FY25 PAT
Aug 12, 2024
PNN
Mumbai (Maharashtra) [India], August 12: Khazanchi Jewellers Limited (BSE: 543953), one of the leading Indian jewellery companies specializing in gold, diamonds, precious stones, and bullion items has announced its Unaudited Financial Results for the Q1 FY25.
Key Financial Highlights
- Total Income of Rs 381.19 Cr, YoY growth of 103.88%
- EBITDA of Rs 13.48 Cr, YoY growth of 108.98%
- EBITDA Margin (%) of 3.54%, YoY growth of 9 Bps
- PAT of Rs 9.21 Cr, YoY growth of 232.26%
- PAT (%) of 2.42%, YoY growth of 93 Bps
- EPS of Rs 3.72, YoY growth of 140.00%
Commenting on the performance Rajesh Kumar, Chief Operating Officer, Khazanchi Jewellers Limited said, "We are pleased with the remarkable growth trajectory that Khazanchi Jewellers Limited has achieved. The overall performance of the company has shown significant growth, underscoring our continued operational efficiency and profitability. In the full year FY24, we achieved a PAT of Rs 27.32 Cr, while for the Q1 FY25, our PAT reached Rs 9.21 Cr. This substantial growth reflects our successful strategies and commitment to excellence in the jewellery industry.
Driven by strategic capacity expansions and initiatives in FY24, we successfully met increased demand and enhanced our market presence. Our commitment to delivering high-quality jewellery products has significantly improved our operational efficiency. Additionally, we look forward to the upcoming launch of our flagship showroom at Sowcarpet, Chennai, which is expected to open this year. Spanning 10,000 sq. ft., this showroom will feature an extensive range of silver and diamond jewellery, designed to offer an exceptional shopping experience.
Looking ahead, we plan to expand our showroom network to sustain our growth momentum. The reduction in the custom duty on gold and silver from 15% to 6.4% in the Union Budget 2024-25 is a significant development that will benefit the company. This reduction will make precious metals more affordable, positively impacting the jewellery industry by driving growth and increasing accessibility. We anticipate that this change will enhance the affordability of our products, broaden our market opportunities, and contribute to our continued success."
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