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8/21/2019 Management Presentation & Results Analysis for December 31, 2014 [Company Update]
1/21
P C J e w
e l l e r L i m
i t e d
Q 3 F Y 2 0 1 5 R e s u l t s U p d
a t e
6 t h F
e b r u a r y 2 0 1 5
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8/21/2019 Management Presentation & Results Analysis for December 31, 2014 [Company Update]
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3
S h o w r o o m
A r e a i n S q . F t .
O p e n i n g
D a t e
R a n c h i , J h a r k h a n d
3 , 3 0 0
M a y 2 0 1 4
G u w a h a t i , A s s a m
4 , 3 5 0
J u n 2 0
1 4
J a m m u , J & K
3 , 2 5 0
J u n 2 0
1 4
P a t n a , B i h a r
6 , 3 7 8
J u l 2 0 1 4
K o l k a t a , W e s t B e n g
a l
8 , 1 9 8
S e p 2 0
1 4
M a t h u r a , U P
3 , 2 0 0
O c t 2 0
1 4
B a r e i l l y , U P
4 , 0 0 0
N o v 2 0
1 4
V a r a n a s i , U P
1 3 , 0 0 0
J a n 2 0
1 5
J a i p u r , R a j a s t h a n
2 0 , 5 2 2
F e b 2 0
1 5
T o t a l A r e a a d d e d i n F Y 2 0 1 5 t i l l d a t e
6 6 , 1 9 8
S h
o w r o o m s o
p e n e d i n F Y
2 0 1 5 t i l l d a t e
•
W e r e a c h e d o u r 5 0 t h m
i l e s t o n e b y o p e n i n g g r a n d s h o w r o o m a t J a i p u r , R a j a s t h a n l a s t w e e k .
•
W e h a v e g r o w n o u r
r e t a i l f o o t p r i n t f r o m 2 , 4 7 , 0 9 8 s q . f t . ( a s o n 3 1 M a r c h 2 0 1 4 ) t o 3 , 1 3 , 2 9 6 s q . f t . a s o f
n o w ( o v e r 3 0 %
g r o w t h i n t h e r e t a i l a r e a )
•
W e h a v e a l r e a d y a d d e d 6 6 , 1 9 8 s q . f t . t o o u r r e t a i l f o o t p r i n t t h i s y e a r a n d a r e l o o k i n g f o r w a r d t o a c h i e
v i n g o u r
g r o w t h t a r g e t o f 1 , 0 0 , 0 0 0 s q . f t . d u r i n g t h e c u r r
e n t f i s c a l
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4
5 0 s h o w r o o m s a c r o s s 4 2 c i t i e s a n d
1 7 s t a t e s t i l l d a t e
E x p a n s i o n p l a n s
a r e w e l l o n t r a c k
w i t h 9 n e w s h o w
r o o m s o p e n e d i n F Y
2 0 1 5 t i l l d a t e
T a r g e t t o o p e n 5
n e w s h o w r o o m s i n
Q 4 F Y 2 0 1 5
T a r g e t o f 2 0 n e w
s h o w r o o m s e v e r y
y e a r f o r t h e n e x t
5 y e a r s
A l l s h o w r o o m s a
r e l a r g e f o r m a t
s h o w r o o m s a t h i g h s t r e e t l o c a t i o n s
N o t a s i n g l e s h o w r o o m c l o s e d t i l l
n o w
N e w D e l h i
B
h o p a l
C h a n d i g a r h
D e h r a d u n
F a r i d a b a d
G h a z i a b a d
G u r g a o n
I n d o r e
J o d h p u r
L u c k n o w
N
o i d a
P a n c h k u l a
R a i p u r
B h i l w a r a
L u d h i a n a
H a r d i w a r
B i l a s p u r
P a l i
A m r i t s a r A
j m e r
B e a w a r
R o h t a k
K a n p u r
H i s a r
V a d o d a r a
A h m e d a b a d
S h r i G a n g a n a g a r
J a b a l p u r
B e n g
a l u r u
M a n g a l o r e
H y d e r a b a d
`
R a j k o t
R a n c h i
G u w a h a t i
J a m m u
P a t n a
K o l k a t a
M
a t h u r a
B a r e i l l y
V a r a n a s i
G r o w i n g R e t a
i l F o o t p r i n t
J a i p u r
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5
Q
3 F Y 2 0 1 5 S a l e s : R s . 1 8 , 2 1 7 m n ( 4 0 . 3 % g r o w t h
o v e r Q 3 F Y 2 0 1 4 )
Q
3 F Y 2 0 1 5 E B I T : R s . 2 , 0 1 6 . 8 m n ( 4 4 . 1 % g r o w t h
o v e r Q 3 F Y 2 0 1 4 )
Q 3 F Y 2 0
1 5 D o m e s t i c R e t a i l E B I T : R s . 1 , 5 5 2 . 3 m n ( 5 3 . 3 %
g r o w t h o v e r Q 3 F Y 2 0
1 4 )
Q 3 F Y 2 0 1
5 D o m e s t i c R e t a i l S a l e
s : R s . 1 2 , 9 7 9 m n ( 2 5 . 5 % g r o w t h o v e r Q 3 F Y 2 0
1 4 )
Q 3 F Y 2 0
1 5 P A T : R s . 1 , 0 9 2 . 9 m n
( Q 3 F Y 2 0 1 4 P A T w a s R
s . 7 9 . 9 m n , 3 6 . 6 % g r o w
t h )
Q
3 F Y 2 0 1 5 –
K e y H i g h l i g h t s
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P C J e w e l l e r L i m i t e d
Q 3
F Y 2 0 1 5 S a l e s : R s .
1 8 , 2
1 7
m n ( U S $ 3 0 3 . 6 m n )
E x p o r t S a l e s
D o m e s t i c S a l e s
R s .
5 , 2
3 8 m n ( U S $ 8
7 . 3 m n )
R s .
1 2 , 9
7 9 m n ( U S $ 2 1 6 . 3 m n )
6
G o l d J e w e l l e r y
D i a m o n d
J e w e l l e r y
O t h e r J
e w e l l e r y
R s .
8 , 3
5 2 m n ( U S $ 1 3 9 . 2 m n )
R s .
4 , 5
4 5 m n ( U S $ 7 5 . 7 m n )
R s .
8 2 m n ( U
S $ 1 . 4 m n )
6 4 . 3
%
3 5 . 0
%
0 . 7
%
N o t e : 1 U S D = ~ 6 0 I N R
7 1 . 2
%
2 8 . 8 %
Q
3 F Y 2 0 1 5 –
K e y H i g h l i g h t s ( C o n t ’ d )
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P a r t i c u l a r s ( R s . M n )
Q 3 F Y
1 5
( 3 m o n
t h s )
Q 3 F Y 1 4
( 3 m o n t h s )
Q 2
F Y 1 5
( 3 m
o n t h s )
9 M T H S F Y 1 5
( A p r – D e c )
9 M T H S F Y 1 4
( A p r – D e c )
R e v e n u e f r o m O
p e r a t i o
n s
1 8 , 2 1 7
1 2 , 9 8 0
1 1
, 8 3 6
4 3 , 2 8 3
3 7 , 8 8 7
D o m e s t i c R e t a i l
1 2 , 9 7 9
1 0 , 3 4 0
9 , 9 3 8
3 0 , 7 4 0
2 8 , 9 8 5
E x p o r t s
5 , 2 3
8
2 , 6 4 0
1 , 8 9 8
1 2 , 5 4 3
8 , 9 0 2
G r o s s M a r g i n s
1 5 . 1 3 %
1 5 . 4 0 %
1 7 . 8 0 %
1 5 . 4 0 %
1 5 . 2 8 %
D o m e s t i c R e t a i l
1 7 . 5 8 %
1 5 . 4 6 %
1 8 . 5 0 %
1 8 . 2 2 %
1 4 . 6 8 %
E x p o r t s
9 . 0 4
%
1 5 . 1 8 %
1 4 . 1 1 %
8 . 4 8 %
1 7 . 2 4 %
E x p e n s e s ( % o f t o t a l R e
v e n u e )
E m p l o y e e C o s t
( E m p l o y e e C o s t a s % o f D o m e s t i c )
0 . 8 2 %
( 1 . 0 3
% )
0 . 9 4 %
( 1 . 0 7 % )
1 . 0 7 %
( 1 . 1 6 % )
0 . 9 2 %
( 1 . 1 4 % )
0 . 8 8 %
( 1 . 0 2 % )
A d v e r t i s e m e n t s
1 . 5 8
%
1 . 1 8 %
0 . 5 8 %
0 . 9 1 %
1 . 0 1 %
R e n t a l s
0 . 5 6
%
0 . 6 9 %
0 . 9 4 %
0 . 6 4 %
0 . 7 9 %
O t h e r C o s t s
1 . 1 0
%
1 . 8 1 %
1 . 2 8 %
1 . 2 3 %
0 . 5 9 %
E B I T M a r g i n s
1 1 . 0 7 %
1 0 . 7 8 %
1 3 . 9 3 %
1 1 . 7 6 %
1 2 . 0 1 %
P B T M a r g i n s
8 . 3 6
%
8 . 6 5 %
1 0 . 0 6 %
8 . 5 6 %
9 . 3 3 %
P A T M a r g i n s
6 . 0 0
%
6 . 1 6 %
6 . 6 9 %
5 . 9 6 %
7 . 2 0 %
E f f e c t i v e t a x r a t e b e i n g 2 8 . 2 5 %
( Q 3 F Y 1 5 ) a n d 2 8 . 7 6 % ( Q 3 F Y 1 4 ) .
W h i l e c o m p u t i n g g r o s s m a r g i n s , w e h a v e t a k e n i n t o a c c o u n t t h e c o
m p o n e n t o f f o r e x e x p e n s e s w h i c h i s o t h e r w i s e c o v e r e d u n d e r o t h e r e
x p e n s e s .
Q
3 F Y 2 0 1 5 –
R e s u l t A n a l y s i s
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Q 3 F Y 1 5
Q
3 F Y 1 4
N o . o f S h o w r o o m s
*
4 8
4 0
T o t a l R e t a i l A r e a ( i n s q .
f t . )
2 , 7 9 , 4 0 0
1 , 9 8 , 0 0 0
T o t a l D o m e s t i c S a l e s ( R s . M n )
1 2 , 9 7 9
1 0 , 3 4 0
C o n t r i b u t i o n f r o m
D i a m o n d J e w e l l e r y
3 5 . 0 0 %
2
7 . 3 1 %
G r o s s M a r g i n s ( D o
m e s t i c S a l e s )
1 7 . 5 8 %
1
5 . 4 6 %
E B I T D A M a r g i n s ( D
o m e s t i c S a l e s )
1 1 . 5 7 %
1
0 . 0 8 %
E B I T M a r g i n s ( D o m
e s t i c S a l e s )
1 1 . 1 4 %
9 . 7 9 %
P B T M a r g i n s ( D o m
e s t i c S a l e s )
8 . 0 3 %
7 . 9 1 %
V o l u m e o f G o l d s o
l d ( K g s . )
2 , 8 8 6 . 4 0
2 , 3 0 3 . 9 1
G o l d p r i c e * ( 2 4 k / 1
0 g m s i n R s . )
2 6 , 7 7 2
2 8 , 1 4 4
* A s o n t h e l a s t d a t e o f t h e q u a r t e r
Q
3 F Y 2 0 1 5 –
D o m e s t i c R
e t a i l S a l e s A
n a l y s i s
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Q
3 F Y 2 0 1 5 –
R e s u l t s D i s c u s s i o n
Q 3 F Y 2 0 1 5 h a s b e e n a
v e r y s a t i s f y i n g q u a r t e r f o r u s .
T h i s w a s p r i m a r i l y o w i n g t o i m p r o v i n g s e n t i m e n t s a n d i n c r e a s i n g f o o t f a l l s i n o u r s h o w r o o m s ,
t h e w
e d d i n g a n d f e s t i v a l
s e a s o n i n Q 3 , l a u n c h a n d a g g r e s s i v e m a r k e t i n g o f t h e u n i q u e F l e x i a c o l l e c t i o n
D e s p i t e t h e r e d u c t i o n i n t h e g o l d p r i c e s b y 4 . 9 % f r o m 3 1 D e c 2 0 1 4 t o 3 1 D e c 2 0 1 5 ,
t h e o v e r a l l r e t a i l d o m e s t i c s a l e s h a v e
g r o w n o n a c c o u n
t o f v o l u m e g r o w t h a n d i n c r e a s e d f o o t f a l l s w i t h n e w e r c u s t o m e r s c o m i n g i n
O v e r a l l S a l e s f o r Q 3 F Y
2 0 1 5 w a s R s .
1 8 , 2
1 7 m n ( 4 0 . 3
% h i g h e r t h a n Q 3 F Y 2 0 1 4 )
O f t h i s ,
d o m e s t i c
r e t a i l s a l e s c o n t r i b u t e d R s . 1
2 , 9
7 9 m n ( g r o w t h o f 2 5 . 5
% a
s c o m p a r e d t o Q 3 F Y 2 0 1 4 )
C o m p a n y h a s e x p e r i e n
c e d o v e r a l l s a m e s t o r e s a l e s g r o w t h o f ~ 1 0 % .
S a m e s
t o r e s a l e s g r o w t h i n m e t r o
l o c a t i o n s h a s b e e n
f l a t t i s h ,
h o w e v e r , t h e s a m e s t o r e s a l e s g r o w t h f r o m T
i e r 1 a n d T i e r 2 c i t i e s h a s b e e n a r o u n d 1 5 % .
T h e b a l a n c e g r o w t h h a s c o m e f r o m t h e n e w s
t o r e s o p e n e d d u r i n g F Y 2 0 1 4
a n d F Y 2 0 1 5 t i l l d a t e .
C o m p a n y a l s o l a u n c h e d a u n i q u e d e t a c h a b l e d i a m o
n d j e w e l l e r y c o l l e c t i o n F l e x i a i n Q 3 w h i c h h a s r e c e i v e d v e r y g o o d r e s p o n s e
f r o m c u s t o m e r s
W i t h t h e r e s t o r a t i o n o f
G o l d o n L e a s e s c h e m e , c o m
p a n y h a s g r a d u a l l y m o v e d
t o h a v i n g a l l t h e g o l d o n l e a s e b a s i s .
C u r r e n t l y
n e a r l y 9 5 % o f t h e g o l d i n v e n t o r y i s o n l e a s e b a s i s .
W e s e t u p a f o c u s s e d e
c o m m e r c e v e r t i c a l w w w . W e a r Y o u r S h i n e . c o m i n O c t 2 0 1 4
w i t h a n a i m t o b e c o m e I n d i a ’ s f i n e s t o n l i n e f i n e
d i a m o n d j e w e l l e r y p o r t a
l f o c u s i n g 1 0 0 % o n c u s t o m e r e x p e r i e n c e , p r i c i n g a n d d e s
i g n s .
W e h a v e a l s o d o n e t i e - u p w i t h F l i p k a r t a n d
S n a p d e a l f o r o n l i n e j e w e l l e r y s a l e s
S t r o n g o n l i n e p r e
s e n c e w i l l h e l p u s a t t r a c t y o u n g e r g e n e r a t i o n c o n s u m e r a s w e l l a s w o r k i n g w o m e n . L o w t o M e d i u m t i c k e t
o n l i n e s a l e s w i l l
h e l p u s t a r g e t t h e p o t e n t i a l h i g h - t i c k e t w e d d i n g c u s t o m
e r s a t a n e a r l y s t a g e .
W e a r e c o n f i d e n t t h a t a
r e g u l a r v i s i t o r / b u y e r a t P C J w e b s i t e ( w w w . W
e a r Y o u r S h i n e . c o m ) w i l l d e f i n i t e l y v i s i t / p r e f e r n e a r b y P C J S h o w r o o m s w h e n
s h e / h e h a s t o e v
a l u a t e a h i g h - t i c k e t w e d d i n g
j e w e l l e r y p u r c h a s e .
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1 0
Q
3 F Y 2 0 1 5 –
R e s u l t s D i s c u s s i o n ( C o n
t ’ d )
D o m e s t i c m a r g i n s i n c r e
a s e d t o 1 7 . 5
8 % i n Q 3 F Y 2 0
1 5 f r o m 1 5 . 4
6 % i n Q 3 F Y 2 0 1 4 .
K e y r e a s o n s f o r t h i s g r o w
t h h a v e b e e n
S i g n i f i c a n t g r o w t h i n t h e d i a m o n d j e w e l l e r y c o
n t r i b u t i o n i n t h i s q u a r t e r o w i n g t o l a u n c h o f u n i q u e F l e x i a
C o l l e c t i o n ( d i a m o n d
j e w e l l e r y c o n t r i b u t i o n g r e w f r o m 2 7 . 3
1 % i n Q 3 F Y 1 4 t o 3 5 . 0
0 % i n Q 3 F Y 1 5 ) . O n a s t e a d y s t a t e b a s i s ,
w e e x p e c t d i a m o n d
j e w e l l e r y t o c o n t r i b u t e t o ~ 3 0 - 3 2 % o f t h e t o t a l d o m e s t i c r e t a i l s a l e s f o r n e x
t 2 - 3 y e a r s .
I n c r e a s e d f o c u s
o n d e s i g n e r h a n d - m a d e g o l d
j e w e l l e r y w h e r e m a k i n g c h a r g e s a r e t y p i c a l l y h i g h e r a s c o m p a r e d t o m a c h i n e
m a d e j e w e l l e r y i t e m s
E x p o r t m a r g i n s f o r Q 3
F Y 2 0 1 5 w e r e 9 . 0
4 % , w h i c
h a r e i n l i n e w i t h t h e s t e a d y s t a t e m a r g i n s .
H o w e v e r , e
x p o r t m a r g i n s k e e p
v a r y i n g f r o m Q o n Q d u
e t o f o r e x r a t e m o v e m e n t s a n d r e s t a t e m e n t o f d e b t o r s a n d c r e d i t o r s o n t h e c l o s i n g d a t e
E B I T f o r Q 3 F Y 2 0 1 5 w
a s R s .
2 , 0
1 6 . 8 m n ( 4 4 . 1
% h
i g h e r t h a n Q 3 F Y 2 0 1 4 ) . O f t h i s ,
d o m e s t i c r e t a i l E B I T c o n
t r i b u t e d R s .
1 , 5
5 2 . 3
m n ( 7 6 . 9
7 % ) .
W e w o u l d h i g h
l i g h t w h i l e d o m e s t i c r e t a i l s a l e s h a v e g r o w n b y 2 5 . 5 % , d o m e s t i c r e t a i l E B I T h
a s g r o w n b y o v e r
5 3 . 3 % a s c o m p a r e d t o Q 3 F Y 2 0 1 4
P B T m a r g i n s h a v e d e c l i n e d d u e t o r e d u c t i o n i n o t h e r i n c o m e .
P A T f o r Q 3 F Y 2 0 1 5 w a
s R s .
1 , 0
9 2 . 9 m n ( a s c o m p a
r e d t o R s .
7 9 9 . 8 m n i n Q 3 F Y
2 0 1 4 , a g r o w t h o f o v e r 3 6 . 6 % )
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1 1
A d v e r t i s e m e n t s
A d v e r t i s e m e n t s c o s t s f o r Q 3 F Y 2 0 1 5 g
r e w t o 2 . 2
2 % o f d o m e s t i c s a l e s
T h e g r o w t h h a s b e e n o n a c c o u n t o f n e w n a t i o n a l T V a n d P r
i n t c a m p a i g n s l a u n c h e d
i n t h e m o n t h o f
O c t o b e r a s w e
l l a s t h e e x t e n s i v e a d v e r t i s e m e n t f o r t h e f e s t i v e a n d m a r r i a g e s e a s o n .
O u r n e w T V C
a m p a i g n b a s e d o n W o m
e n E m p o w e r m e n t h a s b e
e n a p p r e c i a t e d b y l a r g e
s e t o f c u s t o m e r s
a n d c r i t i c s
F i n a n c e C o s t s
F i n a n c e C o s t s
f o r o u r c o m p u t a t i o n c o n s i s t s o f b o t h I n t e r e s t C o s t a n d L e a s e C o s t . F i n a n c
e c o s t s i n Q 3 F Y
2 0 1 5 w e r e R s .
5 7 0 . 8 m n ( 3 . 1
3 % o f s a l e s ) a s c o m p a r e d t o R s . 4 0 4 . 5 m n ( 3 . 1
2 % o f s a l e s ) i n Q 3 F Y 2 0 1 4 .
T h e c o m p a n y
h a s b e e n a b l e t o s t a b
i l i z e i t s f i n a n c e c o s t i n s p i t e o f i n c r e a s e i n o p e
r a t i o n s ( f r o m
4 0
s h o w r o o m s e n
d i n g Q 3 F Y 2 0 1 4 t o 4 8 s
h o w r o o m s e n d i n g Q 3 F Y
2 0 1 5 )
W e h a v e g r a d
u a l l y m o v e d t o g o l d o n
l e a s e m o d e l ( c u r r e n t l y
9 5 %
o f t h e g o l d i n v e n t o
r y i s a l r e a d y o n
l e a s e ) w h i c h w
i l l h
e l p u s r e d u c e t h e f i n a n c e c o s t s i n t h e c o m i n g
q u a r t e r s
Q
3 F Y 2 0 1 5 –
R e s u l t s D i s c u s s i o n ( C o n
t ’ d )
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1 2
R e n t a l s
O v e r a l l R e n t a l c o s t g r e w t o R s .
1 0 1 . 5
m n i n Q 3 F Y 2 0 1 5 f r o m
R s .
8 9 . 5 m n i n Q 3 F Y
2 0 1 4 ( g r o w t h o f
1 3 . 4
% )
T h i s w a s o n a c c o u n t o f i n c r e a s e i n t o t a
l s h o w r o o m s f r o m 4 0 t o 4 8
H o w e v e r , t h e r e n t a l % a g e t o s a l e s h a s
d e c l i n e d f r o m 0 . 6
9 % i n Q
3 F Y 2 0 1 4 t o 0 . 5
6 % i n Q
3 F Y 2 0 1 5
E m p l o y e e C o s t
O v e r a l l E m p l o
y e e c o s t g r e w t o R s .
1 4 9
. 8 m n i n Q 3 F Y 2 0 1 5 f r o m R s .
1 2 1 . 5 m n i n Q 3 F Y
2 0 1 4 ( g r o w t h o f
2 3 . 3
% )
T h i s w a s o n a c c o u n t o f i n c r e a s e i n t o t a
l s h o w r o o m s f r o m 4 0 t o 4 8
F o r t h e d o m e s
t i c r e t a i l b u s i n e s s ,
t h e e m
p l o y e e c o s t i s ~ 1 % o f t h
e r e t a i l t u r n o v e r
Q
3 F Y 2 0 1 5 –
R e s u l t s D i s c u s s i o n ( C o n
t ’ d )
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1 3
P C J e w e l l e r h a s r e c e n
t l y b e e n d e s i g n a t e d a s N o m
i n a t e d A g e n c y b y t h e A d d i t i o n a l D i r e c t o r G e n e r a l o f F o r e i g n T r a d e ( C L A ) ,
M i n i s t r y o f C o m m e r c e &
I n d u s t r y , D e p a r t m e n t o f C o m m e r c e ,
N e w D e l h i
T h i s p e r m i s s i o n
m a k e s t h e c o m p a n y e l i g i b l e f o r d i r e c t i m p o r t o f P r e c i o
u s M e t a l s ( G o l d / S i l v e r / P l a
t i n u m ) f o r d o m e s t i c
b u s i n e s s
W e b e l i e v e d i r e c t i m p o r t o f p r e c i o u s m e t a l w i l l h e l p u s l o w e r t h e i n t e r e s t o n g o l d l o a n a n d o t h e r a s s o c i a t e d c o s t s a n d
s h o u l d h a v e a p o s i t i v e i m p a c t o n o u r R o E .
R B I h a s a l s o r e c e n t l y r e l a x e d g o l d p r o c u r e m e n t g u i d e l i n e s b y w i t h d r a w i n g t h e 2 0
: 8 0 S c h e m e .
T h i s h a s r e d u c
e d o v e r a l l p r e m i u m s
o n t h e g o l d a n d s m o o t h e n e d t h e g o l d s u p p l y c h a i n .
T h i s c o u p l e d w i t h t h e r e s t o r a t i o n o f G o l d o n L e a s e s c h e m e h a s r e m o v e d t h e
r e g u l a t o r y o v e r h a n g o n
t h e s e c t o r
M a k e i n I n d i a
G o v e r n m e n t h a s
b r o u g h t G e m s a n d J e w e l l e r
y u n d e r t h e p r e s t i g i o u s ‘ M a k e i n I n d i a ’ p r o g r a m m e w i t h a
v i s i o n t o m a k e I n d i a
a G l o b a l H u b f o r
j e w e l l e r y p r o c e s s i n g
T h e f o c u s i s o n
s k i l l d e v e l o p m e n t a n d h e n c e
J e w e l l e r y i s o n e o f m a n y s e
c t o r s t h a t g o v e r n m e n t h a s i d
e n t i f i e d f o r ' M a k e i n
I n d i a ' .
R e c e n t I n d u s t r y U p d a t e s
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F I C C a n d W G C R e c o m
m e n d a t i o n
F I C C I a n d t h e W
o r l d G o l d C o u n c i l ( W G C ) h a
v e a l s o r e c e n t l y i s s u e d a r e p
o r t w h e r e i n t h e y h a v e g i v e n r e c o m m e n d a t i o n s t o
I n d i a n p o l i c y m a
k e r s w i t h a f o c u s i s o n e s t a b l i s h i n g a n I n d i a G o l d E x c h a
n g e t o e n s u r e p r i c i n g s t a n d a
r d i s a t i o n ,
i n c r e a s e d
t r a n s p a r e n c y a n d i m p r o v e d s u p p l y a n d d e m a n d a n a l y s i s .
T h e r e c o m m e n d
a t i o n s a l s o m e n t i o n s t a n d a r d
i s a t i o n o f g o l d s o t h a t b u y e r s
a n d s e l l e r s c a n h a v e f a i t h i n
b o t h t h e q u a l i t y a n d
p r i c e o f t h e i r p r o d u c t s .
T h e s u g g e s t i o n i s t o i n t r o d u c e g u i d e l i n e s f o r c o m p u l s o r y q u a l i t y c e r t i f i c a t i o
n o f a l l f o r m s o f g o l d t o e n c o u r a g e a c c o u n t a b i l i t y .
S u c h c o m p u l s o r y c e r t i f i c a t i o n i s a s t r o n g c o n s u m e r f r i e n d l y i n i t i a t i v e a n d w
i l l b e a s t r o n g b o o s t t o o r g a n i z e d j e w e l l e r y r e t a i l .
R e c e n t I n d u s t r y U p d a t e s
( C o n t ’ d )
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A n n
e x u r e
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1 6
G u w a h a t i , A s s a m ( J u n e 2 0 1 4 )
( 4 , 3 5 0 s q . f t . )
R a n c h i , J h a
r k h a n d ( M a y 2 0 1 4 )
( 3 , 3 0 0 s q . f t . )
S h
o w r o o m s o
p e n e d i n F Y
2 0 1 5 t i l l d a t e
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1 7
P a t n a , B i h a r ( J u l y 2 0 1
4 )
( 6 , 3 7 8 s q . f t . )
S h
o w r o o m s o
p e n e d i n F Y
2 0 1 5 t i l l d a t e ( C o n t ’ d )
J a m m u ,
J & K ( J u n e 2 0 1 4 )
( 3 , 2 5 0 s q . f t . )
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1 8
K o l k a t a , W e s
t B e n g a l ( S e p 2 0 1 4 )
( 8 , 1 9 8 s q . f t . )
M a t h u r a , U P ( O c t 2 0 1
4 )
( 3 , 2 0 0 s q . f t . )
S h
o w r o o m s o
p e n e d i n F Y
2 0 1 5 t i l l d a t e ( C o n t ’ d )
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1 9
S h
o w r o o m s o
p e n e d i n F Y
2 0 1 5 t i l l d a t e ( C o n t ’ d )
B a r e i l l y , U t t a r
P r a d e s h ( N o v 2 0 1 4 )
( 4 , 0 0 0 s q . f t . )
V a r a n a s i , U t t a r P r a d e s h ( J a
n 2 0 1 5 )
( 1 3 , 0 0 0 s q . f t . )
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2 0
S h
o w r o o m s o
p e n e d i n F Y
2 0 1 5 t i l l d a t e ( C o n t ’ d )
M i l e s t o n e 5 0 t h S
h o
w r o o m a t J a i p u r , R a j a s t h a n ( F e b 2 0 1 5 )
( 2 0 , 5 2 2 s q . f t . )
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T h a n k Y o u