Monday, June 24, 2024
HomePress ReleaseKhazanchi Jewellers Limited FY24 Reports 261.13 Percent Surge in PAT

Khazanchi Jewellers Limited FY24 Reports 261.13 Percent Surge in PAT

Mumbai (Maharashtra0 [India], May 24: Khazanchi Jewellers Limited (BSE:543953), one of the leading Indian jewellery company specializing in gold, diamonds, precious stones, and bullion items has announced its Audited Financial Results for the H2 FY24 & FY24.

Key Financial Highlights (Standalone)

Strong FY24 Results by Khazanchi Jewellers limited

Standalone Key Financial Highlights H2 FY24

• Total Income of ₹ 415.38 Cr, YoY growth of 67.38%

• EBITDA of ₹ 21.02 Cr, YoY growth of 84.60%

• EBITDA Margin of 5.06%, YoY growth of 47 Bps

• PAT of ₹ 11.60 Cr, YoY growth of 102.59%

• PAT of 2.79%, YoY growth of 49 Bps

Standalone Key Financial Highlights FY24

• Total Income of ₹ 821.53 Cr, YoY growth of 70.51%

• EBITDA of ₹ 41.78 Cr, YoY growth of 148.97%

• EBITDA Margin of 5.09%, YoY growth of 160 Bps

• PAT of ₹ 27.32 Cr, YoY growth of 261.13%

• PAT of 3.33%, YoY growth of 176 Bps

Financial Highlights:

• The Company has significantly reduced its debt from ₹52.51 Cr to ₹19.40 Cr.

• Additionally, its cash flow from operating activities has increased.

 Commenting on the performance Mr. Rajesh Kumar – Chief Operating Officer, Khazanchi Jewellers Limited said, “We are pleased to report a commendable growth trajectory for Khazanchi Jewellers Limited. As the second-largest consumer of gold jewelry globally, India has seen a CRISIL Ratings forecast predicting a 16-18% revenue increase for organized gold jewellers in FY24. Our company has adeptly managed the challenges posed by rising gold prices. Our operational efficiency and strong brand appeal have enabled us to sustain strong growth and profitability.

In FY24, strategic capacity expansions and initiatives were pivotal in meeting increased demand and enhancing our market presence. Our commitment to delivering high-quality jewelry products has notably improved our operational efficiency. Additionally, our upcoming flagship showroom in Sowcarpet, Chennai, scheduled to open by May 2025, will further solidify our market position and emphasize our dedication to exceptional service and products.

The financial results for this period reflect significant momentum, with notable increases in revenue, EBITDA, and net profit, which clearly demonstrate the effectiveness of our financial strategies. Both total revenue and EBITDA have shown significant growth, underscoring our continued operational efficiency and profitability.

Looking ahead, we plan to expand our showroom network, extend our customer base into new geographical areas, and strengthen our inventory management to ensure continued growth. We are excited about the future and look forward to continuing this momentum, aiming to deliver even greater value to our customers and stakeholders in the coming years.”

If you have any objection to this press release content, kindly contact pr.error.rectification@gmail.com to notify us. We will respond and rectify the situation in the next 24 hours.

RELATED ARTICLES
- Advertisment -
Google search engine

Most Popular

Recent Comments