Manoj Vaibhav Gems N Jewellers Ltd Q3 FY25 Results & Concall Highlights: Revenue, Margins & Order Book
Published 3 Aug 2026 | Consumer Durables | Market Cap: ₹825 Cr
The company targets a 15% CAGR growth including new store openings (Page 14). Company targets a 15% CAGR growth including new store openings, aiming for consistent expansion over the medium term.
From Manoj Vaibhav Gems N Jewellers Ltd's Q3 FY25 earnings-call transcript · updated 23 Aug 2026.
Price
₹150
Market Cap
₹825 Cr
P/E Ratio
7.1
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Manoj Vaibhav Gems N Jewellers Ltd — Quarterly revenue & net profit
Reported quarterly figures (₹ Cr). Latest: revenue ₹754 Cr, net profit ₹28 Cr.
Full financials →📊 Revenue & Sales Performance
- →The company targets a 15% CAGR growth including new store openings (Page 14).
- →For Q4 of the current year, management is confident of achieving a 60%-70% YoY revenue growth, primarily driven by wedding season demand (Page 19, 25).
- →Same-store sales growth (SSE) is currently around 1.2%, with a focus on high-margin products improving bottom-line growth more than top-line (Page 9).
- →Management aims for double-digit, potentially higher double-digit, growth in Q4 year on year (Page 27).
- →The average per day sales for newer 2,500 sq ft stores are estimated at INR12-13 lakhs, with some market research suggesting up to INR25-30 lakhs post-maturity (Page 9).
- →New store openings prioritized in existing markets like Hyderabad and Bangalore with medium to large format stores planned over the medium term (Page 21, 27).
- →Focus is also on improving profitability and margins alongside revenue growth (Page 24, 27).
📈 Profitability & Margins
- →Company targets a 15% CAGR growth including new store openings, aiming for consistent expansion over the medium term.
- →Management is confident of achieving double-digit, higher double-digit growth in Q4 compared to last year's Q4, driven by wedding season demand.
- →EBITDA margins are expected to improve from the current 7%-8% range to around 9%-10% as newer stores mature.
- →Margins have been maintained at approximately 7%, with optimistic outlook to sustain or improve them.
- →Focused on improving profitability from existing stores and ensuring healthy turnover rather than purely expanding store count.
- →PAT run rate is approximately INR100 crores per year, with expectations to grow profit in double digits aligned with revenue growth.
- →Studded jewelry segment is a key area for improving margins and contributing positively to the bottom line.
- →Management plans larger format stores for future expansion in tier-1 cities to capture higher-value sales.
🏗️ Capital Expenditure Plans
- →The company plans to open three new stores before March 2025; these are smaller format stores (~2,500 sq. ft) with a capex of around INR 1.5 crore each.
- →For larger flagship stores, the company estimates a capex of INR 300-400 crores, but these take 1-2 years to establish and involve higher operational costs.
- →Immediate focus is on expanding smaller stores, as they offer better margins, faster break-even, and lower operational costs compared to larger flagship stores.
- →Management is in the planning stage for store expansion and is evaluating locations; specific numbers for FY25, FY26, and FY27 store openings will be shared once finalized.
- →Franchise expansion is also being explored alongside company-owned store growth.
- →The company aims to strategically grow at the grassroots level with a focus on improving profitability and operational efficiency alongside expansion.
💰 Fundraising & Capital Structure
- →There is no explicit mention of any ongoing or planned fundraising through debt or equity in the provided transcript.
- →The management discussed expansion plans, store formats, and growth strategies but did not specify any fundraising activities.
- →Capital expenditure (capex) for new stores is mentioned (around INR 1.5 crores for smaller stores and up to INR 300-400 crores anticipated for flagship stores), indicating internal resource planning rather than external fundraising.
- →Related party transactions are reducing and expected to be nil from the next year onward, suggesting a move towards cleaner internal financials.
- →Management emphasized strategic, medium to long-term growth but did not disclose plans for raising fresh capital presently.
📋 Order Book & Pipeline
Key Metrics
Frequently Asked Questions
What were Manoj Vaibhav Gems N Jewellers Ltd Q3 FY25 results?
The company targets a 15% CAGR growth including new store openings (Page 14). Company targets a 15% CAGR growth including new store openings, aiming for consistent expansion over the medium term.
What is Manoj Vaibhav Gems N Jewellers Ltd share price analysis?
Manoj Vaibhav Gems N Jewellers Ltd currently shows a neutral. The stock trades at a P/E of 7.1 with a market cap of ₹825 Cr. Investors should review the full earnings analysis for detailed insights.
Is Manoj Vaibhav Gems N Jewellers Ltd planning capital expenditure?
The company plans to open three new stores before March 2025; these are smaller format stores (~2,500 sq.
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This analysis is AI-generated based on publicly available earnings data and concall transcripts. This is not investment advice. Please consult a SEBI-registered advisor before making investment decisions.