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.
DSIJ’s ‘Micro Marvel' service recommends micro-cap stocks with the potential to grow multifold in long run. If this interests you, do download the service details here.
Related articles
-
BNP Paribas bought 9,86,663 shares & Promoters bought over 5 per cent stake of this stock under Rs 65; Company into expansion as it acquired IT-Cube for Rs 84 crore
-
Heavy Buying Alert: Small-cap gems & jewellery stock was locked in 10 per cent upper circuit on May 14
-
High ROE & High ROCE Multibagger Stock: This Electronics Products Company Unveils its Strategic Growth Plan - Mapping the Journey to the Next Orbit
-
74.28 per cent promoters stake: Micro-cap gems & jewellery stock shines in shining gold on major expansion to 15 stores in South India
-
Multibagger penny stock below Rs 10: This micro-cap company is expanding its business in Jammu and Kashmir by setting up 2 more procurement facilitation centres!
-
Multibagger penny stock under Rs 5 with 7,750 per cent returns: Board announces fund raising through NCDs for business growth and expansion plans!
-
Rs 60,00,00,000 revenue potential: Multibagger penny stock below Rs 10 skyrocketed 10 per cent as the company expands operations with acquisition of new land!
-
Multibagger penny stock under Rs 5 with 1,300 per cent returns: This micro-cap company is expanding its drone services in North Gujarat; scrip hit upper circuit!
-
4,000 per cent returns & FIIs increase stake: Multibagger stock in green after announcing Rs 1,300 crore business expansion and allocating 2,40,300 warrants!
-
75 per cent returns from its 52-week low: This micro-cap company is setting solar power plant with a capacity of 1300-MW!
-
Diwali Stock Alert: Heavy buying witnessed in this multibagger gems & jewellery stock; hit 52-week high!
-
Multibagger penny stock under Rs 5 with 1,000 per cent returns: This micro-cap company inaugurated its first NIMBARK Organic Store in Chandigarh; know more here!
-
900 per cent returns & FIIs increase stake: This multibagger small-cap company embarks on growth path with Rs 124,74,00,000 fundraising for capacity expansion!
-
Multibagger in just 1 year: This small-cap company is expanding into space, defence, and electronics sectors!
-
Penny scrip under Rs 2: This micro-cap company is into expansion of business with BG Networks Pvt Ltd!
-
Penny stock under Rs 25: This micro-cap company has undertaken a strategic initiative to expand its business operations in Union Territory of Jammu & Kashmir
-
Fertilisers & agrochemicals stock under Rs 65 in focus as the company approved an investment of Rs 35.28 crore in its wholly-owned subsidiary; details inside!
-
2:1 bonus share; 10:1 stock split in FY24: Multibagger penny stock at Rs 1.54 in green as the company expands its footprint in the insurance broking sector!
-
Multibagger stock in green as the company expands its overseas operations by incorporating a new wholly-owned subsidiary in Hong Kong
-
52-week high alert: This multibagger Semiconductor Software company got approval for DLI application for the development of a smart energy meter IC from Government of India