Micro-cap gems & jewellery stock in green after the company announced business expansion with the launch of new showroom in Andhra Pradesh

Exhibiting strong financial performance, the company has witnessed significant revenue and net profit growth in recent years.

Manoj Vaibhav Gems 'N' Jewellers Ltd is a public limited company that was incorporated in 1989. The company is engaged in the business of manufacturing, trading, and retailing gold, diamond, and silver jewellery. It has a pan-India presence with over 100 showrooms across 20 states.

The company has launched a new showroom under the brand name “Vaibhav Jewellers” at Palakonda R&B Road, Saradhi Village, Rajam (Nagarpanchayat), Rajam (Mandalam), Vijayanagaram, Andhra Pradesh - 532127, on March 20, 2024. The new showroom will offer a wide range of gold, diamond, and silver jewellery. The showroom will also have a dedicated section for bridal jewellery.

A leading South Indian jeweller, particularly strong in Andhra Pradesh and Telangana, Manoj Vaibhav Gems N Jewellers Ltd boasts 13 showrooms offering a diverse range of gold, diamond, and other precious metal jewellery. They've built a loyal following through relationship-focused customer service and high-quality products, strategically placing most stores (77 per cent) in Tier 2 and 3 cities to capitalize on the strong rural gold demand.

Already holding a significant share (14 per cent) of the organized jewellery market in their core region, they're actively expanding with new stores and an upcoming online presence, all aimed at capturing the growing middle class and tapping into the projected online jewellery market boom. With a strong brand, wide network, and competitive pricing, Manoj Vaibhav Gems N Jewellers Ltd appears well-positioned for continued growth alongside the Indian jewellery market.

According to its Quarterly Results (Q3FY24), the company reported net sales of Rs 475 crore, operating profit of Rs 34 crore and net profit of Rs 19 crore. In its nine-month results (9MFY24), the company reported net sales of Rs 1,603 crore, operating profit of Rs 113 crore and net profit of Rs 60 crore.

Today, the shares of Manoj Vaibhav Gems N Jewellers Ltd surged 3.60 per cent to Rs 190 per share from its previous closing of Rs 183.40 with an intraday high of Rs 190 and an intraday low of Rs 165. The stock’s 52-week high is Rs 382 and its 52-week low is Rs 165 with a market cap of over Rs 900 crore.

Exhibiting strong financial performance, the company has witnessed significant revenue and net profit growth in recent years. Its impressive return on equity (ROE) of 23 per cent for the financial year 2023 further demonstrates its ability to generate substantial returns for its investors. In essence, Manoj Vaibhav Gems N Jewellers Ltd is a well-established jewellery retailer with a robust presence in rural and semi-urban areas of Andhra Pradesh and Telangana.

Disclaimer: The article is for informational purposes only and not investment advice.