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    Kalyan Jewellers looks to open more stores in north India to improve margins

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    Kalyan Jewellers looks to open more stores in north India to improve margins

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    Speaking to CNBC-TV18 after the earnings report, Ramesh Kalyanaraman, ED of the company said that the company aims to open stores outside South India where the margins are higher.

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    Kalyan Jewellers India posted a strong set of earnings for the June-ended quarter on a low base. The company saw robust momentum in both footfalls and revenue and the margin has also expanded to 8 percent from 4 percent last year.
    Speaking to CNBC-TV18 after the earnings report, Ramesh Kalyanaraman, ED of the company said that the first half of the year is always strong, in the jewellery segment, in the south Indian market and the north Indian market picks up in the second half of the year.
    “Our mission is to open stores outside South India where the margins are higher and take the revenue mix to 50:50, which will take our EBITDA margins into double-digit numbers in a couple of years,” said Kalyanaraman.
    “In our jewellery segment, Q1 and Q2 are more south heavy, where the margins are a bit lesser, and Q3-Q4 are more of non-south heavy where the margins go upwards. South is more of a plain gold market whereas in non-south the studded ratios are usually higher, which gives us a better margin in non-south than in south Indian market,” he explained.
    The company added seven new showrooms in Q1FY23 and also launched its first franchised showroom.
    For the entire interview, watch the accompanying video
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