Manoj Vaibhav Gems Jewellers Business Description

Published on Monday, September 18, 2023 by Chittorgarh.com Team

Manoj Vaibhav Gems 'N' Jewellers Limited started the jewellery business as a proprietorship concern in the year 1994. The company started its business from its first retail showroom in Visakhapatnam, Andhra Pradesh.

In 2007 Manoj Vaibhav Gems 'N' Jewellers launched V Square, the flagship showroom, which is one of the largest in Visakhapatnam.

Manoj Vaibhav Gems 'N' Jewellers Limited offers jewellery products in gold, diamond and silver like rings, earrings, bracelets, pendants, harams, vanki, vaddanam and many more small and petite accessories like champasawaralu, nose rings, toe rings etc.

Over the last 28 years, Vaibhav Jewellery has expanded to various locations in Andhra Pradesh and Telangana with a total of 13 retail stores (including two franchise retail stores) spread across 8 cities and 2 towns. Vaibhav Jewellers has a market share of 4% in the total jewellery market of Andhra Pradesh and Telangana and 10% in the organised market in these two states in FY 2023.

Manoj Vaibhav Gems 'N' Jewellers Limited's website can be easily navigated and is user-friendly for online shopping, enquiries, and live video shopping options.

Main Objects of the Company:

1. The carrying on of all or any part of the business of goldsmiths, silversmiths, jewellers, and dealers in precious stones and diamonds.
2. Manufacturer and dealer of watches, clocks, jewellery, cutlery, and parts and accessories.
3. Producing, acquiring and trading in metals, bullion, gold, diamond, platinum ornaments, silver, silver items, diamonds, all kinds of precious and semi-precious stones, paintings, manuscripts, curios, antiques and objects of art.
4. To carry on the business as manufacturers, producers, processors, makers, inventors, importers, exporters, traders, buyers, sellers, retailers, wholesalers, suppliers, indentors, packers, movers, preservers, stockists, agents, sub-agents, merchants, distributors, consignors, jobbers, brokers and concessionaires.
5. To manufacture, design, make, fabricate, deal in, import, procure, buy, sell, stock, export, trade or deal in gold, diamond, platinum, silver or any other kind of jewellery, including gold coins & loose diamonds, lifestyle personal articles such as watches other precious or semi-precious stones & metals.
6. To carry on the business through e-commerce, online shopping portals, physical counters, showrooms, franchisees, stalls or otherwise, in India.
7. To purchase land, immovable or movable properties and build, alter, plot development, construct, erect, equip and maintain or replace buildings and shops.

Manoj Vaibhav Gems 'N' Jewellers product-wise revenue breakup:

In the fiscal year ending 2023, Manoj Vaibhav's operating revenue was 20,273.44 million rupees, of which 89.23% was from the sale of gold jewellery, 4.06% from diamond jewellery, 3.96% from silver jewellery, and 2.75% from the sale of other jewellery.

Vaibhav Jewellery's revenues have grown at a CAGR of 18.92% from FY 2021 till FY 2023. The product-wise revenue breakup for the past 2 fiscal is as follows:

The product-wise revenue breakup is as for the year 2022-2023:

The product-wise revenue breakup is as for the year 2021-2022:

Average revenue per retail showroom:

March 31, 2023- Rs. 1,559.50 million

March 31, 2022- Rs. 1411.60 million

March 31, 2021- Rs. 1,194.64 million

The revenue per retail showroom as a percentage of total revenue FY March 31, 2023, March 31, 2022, and March 31, 2021, was 7.69%, 8.33% and 8.33% respectively.

Manoj Vaibhav Gems 'N' Jewellers IPO Financial Information (Restated)

Manoj Vaibhav Gems 'N' Jewellers' revenue increased from Rs 1,443.18 crores in 2021 to Rs 1,697.70 in 2022 and to Rs 2,031.30 crores in 2023. The profit after tax FY 2021, 2022 and 2023 is Rs 20.74 crore, Rs. 43.68 crore and Rs 71.60 crore.

Amount in ₹ Crore

Vaibhav Jewellery Key Financial Indicators Representation:

Manoj Vaibhav Gems 'N' Jewellers Revenue CAGR increased to 18.9% in the year 2023. EBITDA CAGR increased to 43.4% and PAT Margin % increased to 85.5%.

Vaibhav Jewellers Key Players in Andhra Pradesh and Telangana

Vaibhav Jewellers has 11 stores in Andhra Pradesh and 2 stores in Telangana.

Below you will find Vaibhav Jewellers stores in Andhra Pradesh and Telangana in comparison to the major suppliers:

Vaibhav Jewellery Raw Material

Manoj Vaibhav Gems 'N' Jewellers have three processes to source gold jewellery/gold bullion:

(a) Buying of gold bullion from Banks/Other bullion houses

(b) Purchase of old gold from customers

(c) Purchase of jewellery from suppliers