February 7, 2013: PC Jeweller Limited (PCJ), a
leading jewellery house offering a wide range of products including gold
jewellery, diamond jewellery and other jewellery products including silver
articles, today announed their third quarter results of the financial year
2013.
The
company has achieved a topline of Rs 2874.23 cr for the 9 months ending Dec 31,
2012, which consist of a domestic turnover of Rs 2102.83 cr and export turnover
of Rs 771.40 cr. The comparative figures for the FY ended March 2012 were Rs
3041.92 cr, Rs 2039.49 cr and Rs 1002.44 cr respectively. The company has
achieved a turnover of Rs 1018.53 cr in Q3, which consists of domestic turnover
of Rs 852.34 cr and export sales of Rs 166.18 cr. The net profit for the third
quarter stood at Rs 66.90 crore and for the nine months was Rs. 208.20 crore.
PCJ
has earned an EBITA of Rs 114.32 cr during Q3., and the 9 month EBITA as on
31.12.12 is Rs 353.26 cr vis a vis an EBITA of Rs 356.09 cr as on 31.03.12.
The company
is operating in both domestic as well as export segments. It has however taken
a decision to concentrate on the domestic business, while retaining its export
operations at the level achieved in March 2012. This is reflected in the
overall percentage of the export turnover, which at 31.03.12 stands at 26.84%
of the total turnover as against 32.95% as on 31.03.12.
PCJ
has opened 6 new stores during the current fiscal. All of these stores were
opened in the H1.
The
company is one of the few jewellery units of the country which are working
actively to shift the jewellery sales mix towards diamond jewellery. PCJ feels
that the future lies in diamond jewellery and it will continue to concentrate
on the same. The company has augmenting
its manufacturing and designing capabilities for diamond jewellery and is very
confident that these capabilities would lead to sustainable growth volumes as well as margins.
PCJ
has been procuring its gold requirements on lease basis in past and will
continue to do so. It has signed gold lease agreements with a number of
nominated agencies and banks so that it continues to get uninterrupted supply
of gold. The company procures loose cut and polished diamonds from a number of
vendors in Surat & Mumbai.
PCJ
believes that it enjoys an exclusive brand image and top of mind recall amongst
the customers awareness for a pan India expansion. The company is associated
with prestigious events like Filmfare Cine Awards for the past four years. This
year it is also associated with Miss India Peagent.
The company’s retail
presence is spread across locations in Metros, Tier I as well as Tier II towns
and it will continue to open stores as per the existing pattern only.
Commenting on the Q3 FY13
performance, Mr. Balram Garg, MD, PC Jeweller Ltd., said, “These are our first results to be announced in public after our IPO in
Dec 2012. We got tremendous response to our Issue, and the third quarter
results are equally encouraging. We want to increase our customer base by
entering cities across India which have great potential for diamond jewellery
which is our main focus. We have up till now already opened 6 showrooms in the
current financial year and are working on various marketing initiatives for our
consumers. In the third quarter, our focus was on maximizing sales
opportunities during the festival period by inducing demand with exquisite new
collections, special offers, advertising and direct marketing initiatives.”
About PC Jeweller Limited:
PC Jeweller Limited is one of
the leading jewellery companies in India. The company offers a wide range of
products including gold jewellery, diamond jewellery and other jewellery
products including silver articles, with a focus on diamond jewellery and
jewellery for weddings. Their operations include manufacturing, retailing and
export of jewellery with a major thrust on retail. The company has 30 showrooms
at present across 18 cities in north and central India. The group has five jewellery
manufacturing facilities in Selaqui (Dehradun), Noida Sector 63 and Noida
SEZ.
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