Any current/future new fundraising through debt or equity?

The company is not planning to increase any additional debt; management prefers not to take on extra debt. For the new showroom, working capital will be managed by shifting stock from existing showrooms rather than raising new funds. The new showroom construction is being funded from the net proceeds of the recent equity issue (IPO on BSE SME platform in August 2023). There is no specific mention of any planned future equity fundraising; focus appears on utilizing recent issue proceeds and internal financial management.

Any current/future capex/capital investment/strategic investment?

New showroom construction ongoing at 286 NSC Bose Road, a prominent jewellery hub in South India. The new showroom will be a large-format, 10,000 square feet flagship destination spanning three floors. Expected showroom opening by May 2025. Funding for the new showroom comes from net proceeds of the recent issue. Plans for setting up own manufacturing units for high volume products in the near future to insource manufacturing partially. Expansion plans include opening 3 to 4 new showrooms in different geographical locations over the next 2 to 3 years. Working on implementing online presence al

Future growth expectations in sales/revenue/volumes?

The company targets a revenue growth of 25% to 35% year-on-year, aiming to reach INR 1,000 crores in FY25. Volume growth is also expected, supported by increased demand despite price appreciation of 15%-18%. B2C (retail) segment is planned to grow from 10% to approximately 25% of total sales in the next 2-3 years to improve margins. Expansion includes opening 3-4 new showrooms geographically within 2-3 years. A new 10,000 sq. ft. flagship showroom is under construction, expected to open by May 2025, to support volume and revenue growth. The company is working on regional diversificat

Future growth expectations in earnings/operating earnings/profits/EPS?

The company expects a continued strong growth trajectory, targeting 25%-35% year-on-year revenue growth, aiming to reach INR 1,000 crores by FY25. Expansion of the retail segment from current 10% to around 25% in two years, which carries higher margins of 8%-9% compared to 3%-5% for B2B. Overall gross margin improvement projected due to growth in retail and higher-margin products introduction, potentially raising overall margin by 0.5%-0.8%. Plans to open a new 10,000 sq.ft flagship showroom by 2025 in a prime jewellery hub to enhance retail presence and margins. Earnings per share (EPS) expec

Current/ Expected Orderbook/ Pending Orders?

The company currently operates primarily on ready stock rather than large pending orders. Major clients select from ready stocks held by the company, which is a specialty compared to competitors who require orders placed in advance. There is no explicit mention of a backlog or pending order book value in the discussion. Rajesh Mehta indicated that the company plans to manufacture in-house soon for high-volume products but did not specify pending order quantities. The business model relies on maintaining ready inventory to meet demand quickly rather than accumulating large pending orders.

Khazanchi Jewellers LtdQ4 FY24Consumer Durables

Khazanchi Jewellers Ltd Q4 FY24 Earnings Call Analysis

Revenue, margin, capex, fundraise and order book outlook from management commentary.

Price: ₹715.25P/E: 17.3Market Cap: ₹1.8K CrSector: Consumer Durables

Management growth scorecard

Revenue

Category 2

Margin

Category 2

Fundraise

N/A

Order

N/A

Capex

Yes

1 of 3 growth signals are positive — mixed outlook.

Full analysis

Revenue guidance

Category 2

The company targets a revenue growth of 25% to 35% year-on-year, aiming to reach INR 1,000 crores in FY25.
Volume growth is also expected, supported by increased demand despite price appreciation of 15%-18%.
B2C (retail) segment is planned to grow from 10% to approximately 25% of total sales in the next 2-3 years to improve margins.
Expansion includes opening 3-4 new showrooms geographically within 2-3 years.
A new 10,000 sq. ft. flagship showroom is under construction, expected to open by May 2025, to support volume and revenue growth.
The company is working on regional diversification and gradual in-house manufacturing to strengthen supply chain and product quality.
Demand outlook remains positive, with volume growth expected despite rising precious metal prices.
Increased focus on higher-margin product segments like diamond and retail will drive future revenue and margin expansion.

Margin guidance

Category 2

The company expects a continued strong growth trajectory, targeting 25%-35% year-on-year revenue growth, aiming to reach INR 1,000 crores by FY25.
Expansion of the retail segment from current 10% to around 25% in two years, which carries higher margins of 8%-9% compared to 3%-5% for B2B.
Overall gross margin improvement projected due to growth in retail and higher-margin products introduction, potentially raising overall margin by 0.5%-0.8%.
Plans to open a new 10,000 sq.ft flagship showroom by 2025 in a prime jewellery hub to enhance retail presence and margins.
Earnings per share (EPS) expected to improve in line with volume growth and margin expansion, supported by increased retail contribution.
Management confident in sustaining 3%-5% margins for B2B segment alongside growing high-margin retail business.
In-house manufacturing unit is under consideration to improve margins, though timing is unspecified.

See what Khazanchi Jewellers Ltd management said on margin guidance — free account, 30 seconds.

Fundraise plans

The company is not planning to increase any additional debt; management prefers not to take on extra debt.
For the new showroom, working capital will be managed by shifting stock from existing showrooms rather than raising new funds.
The new showroom construction is being funded from the net proceeds of the recent equity issue (IPO on BSE SME platform in August 2023).
There is no specific mention of any planned future equity fundraising; focus appears on utilizing recent issue proceeds and internal financial management.

Order book

The company currently operates primarily on ready stock rather than large pending orders.
Major clients select from ready stocks held by the company, which is a specialty compared to competitors who require orders placed in advance.
There is no explicit mention of a backlog or pending order book value in the discussion.
Rajesh Mehta indicated that the company plans to manufacture in-house soon for high-volume products but did not specify pending order quantities.
The business model relies on maintaining ready inventory to meet demand quickly rather than accumulating large pending orders.

See what Khazanchi Jewellers Ltd management said on order book — free account, 30 seconds.

Capex plans

Yes

New showroom construction ongoing at 286 NSC Bose Road, a prominent jewellery hub in South India.
The new showroom will be a large-format, 10,000 square feet flagship destination spanning three floors.
Expected showroom opening by May 2025.
Funding for the new showroom comes from net proceeds of the recent issue.
Plans for setting up own manufacturing units for high volume products in the near future to insource manufacturing partially.
Expansion plans include opening 3 to 4 new showrooms in different geographical locations over the next 2 to 3 years.
Working on implementing online presence alongside new showroom launch.
Management intends to shift some working capital from existing showroom to new showroom; no extra debt planned for expansion.
Strategy to enhance inventory management for operational efficiency.

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Khazanchi Jewellers Ltd Q4 FY24 Earnings Call Analysis

Revenue guidance

Fundraise plans

Capex plans

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What Khazanchi Jewellers Ltd's management said in earlier quarters

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