Micro-cap gems & jewellery stock in green after the company is into the expansion of business as it is going to launch a new showroom in Telangana
The stock’s 52-week high is Rs 382 and its 52-week low is Rs 165 with a market cap of over Rs 1,100 crore.
Established in 1989, Manoj Vaibhav Gems 'N' Jewellers Ltd, a public limited company, has grown from a regional player to a national brand with a strong presence in South India, particularly Andhra Pradesh and Telangana. They specialize in gold, diamond, and other precious metal jewellery, catering to a loyal customer base built on high-quality products and relationship-focused service. Understanding the strength of rural gold demand, they've strategically placed most stores (77 per cent) in Tier 2 and 3 cities.
With a significant share of the organized jewellery market in their core region, they are actively expanding their physical footprint and building an online presence to capture the growing middle class and capitalize on the projected online jewellery market boom. Backed by a strong brand, a wide network of stores, and competitive pricing, Manoj Vaibhav Gems N Jewellers Ltd appears well-positioned to thrive alongside the expanding Indian jewellery market.
The company is going to launch a new Jewellery Store under the brand name “Vaibhav Jewellers” at Ganga Reddy Road, Mancherial, Telangana — 504 208 on Sunday, March 24, 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.
On March 20, 2024, a new showroom under the brand name "Vaibhav Jewellers" was launched at Palakonda R&B Road, Saradhi Village, Rajam (Nagarpanchayat), Rajam (Mandalam), Vijayanagaram, Andhra Pradesh - 532127. The showroom was inaugurated by the chief guest, Mr. Vaibhav Jain, the Managing Director of Vaibhav Jewellers. The showroom offers a wide range of gold, silver, and diamond jewellery. The showroom also has a dedicated section for bridal jewellery.
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 2.09 per cent to Rs 236.75 per share from its previous closing of Rs 231.90 with an intraday high of Rs 241.20 and an intraday low of Rs 229. The stock’s 52-week high is Rs 382 and its 52-week low is Rs 165 with a market cap of over Rs 1,100 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.
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