About the Company:
The leading Indian gold jewelry manufacturer specializes in antique bridal pieces with jadau, meena, and kundan work. It captures 1% of India's organized wholesale gold jewelry market, serving diverse clients nationwide through wholesale and retail channels.
Retail Presence: The company's 'Harit Zaveri' showroom in Ahmedabad caters to end consumers in Gujarat, offering gold, diamond, and Polki jewelry for various occasions, including bridal wear. It also provides antique bridal gold jewelry to national retailers.
Manufacturing Facility: Situated in Ahmedabad, Gujarat, the state-of-the-art manufacturing facility uses advanced technologies like casting, laser, and 3-D printing. It efficiently designs and manufactures gold jewelry under one roof.
IPO Objectives:
- Funding working capital requirements of the Company
- General Corporate Purposes
Promoter Details:
The promoters of the company are Rajendrakumar Kantilal Zaveri and Harit Rajendrakumar Zaveri
| Share Holding Pre Issue | 100% |
| Share Holding Post Issue | 75% |
Summary of Financial Information:
| Period Ended | 30 Sep 2023 | 31 Mar 2023 | 31 Mar 2022 | 31 Mar 2021 |
| Assets | 234.76 | 206.84 | 154.03 | 123.74 |
| Revenue | 125.52 | 289.63 | 252.53 | 289.63 |
| Profit After Tax | 12.09 | 22.33 | 14.41 | 9.75 |
| Net Worth | 104.57 | 92.47 | 70.03 | 55.55 |
| Reserves and Surplus | 74.02 | 61.93 | 65.60 | 51.19 |
| Total Borrowing | 101.84 | 95.79 | 59.71 | 54.90 |
Key Performance Indicators:
| KPI | Values |
| P/E (x) | 13.77 |
| Market Cap (Rs. Cr.) | 400 |
| ROE | 27.49% |
| ROCE | 27.49% |
| Debt/Equity | 1.02 |
| EPS (Rs) | 7.44 |
| RoNW | 20.08% |
Comparison with Peers:
| Company Name | P/E | P/B | RoE (%) |
| RBZ Jewellers Ltd | 13.77 | 1.96 | 27.49 |
| Kalyan Jewellers Ltd | 65 | 8.45 | 12.76 |
| Senco Gold Ltd | 37 | 4.71 | 19.28 |
| Thangamayil Jewellery Ltd | 35 | 8.69 | 22.37 |
| D.P. Abhushan Ltd | 25 | 6.27 | 28.4 |
| Titan Company Ltd | 97 | 25.76 | 30.97 |
| Ashapuri Gold Ornament Ltd | 138 | 3.9 | 2.19 |
| Sky Gold Ltd | 48 | 6.85 | 21.28 |
Key IPO Details:
| IPO Date | December 19 to 21, 2023 |
| Listing Date | December 27, 2023 |
| Face Value | Rs. 10 per share |
| Price Band | Rs. 95 to Rs. 100 per share |
| Lot Size | 150 Shares |
| Total Issue Size | 10,000,000 shares (aggregating up to Rs. 100.00 Cr) |
| Fresh Issue | 10,000,000 shares (aggregating up to Rs. 100.00 Cr) |
| GMP | - |
Note: For additional information & risk factors please refer to the Red Herring Prospectus
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Disclaimer: We are not SEBI registered. All the views are personal and only for educational purposes. Do your due diligence before making any trading or investing decisions. The data provided in this blog post is for illustrative purposes only and does not constitute financial advice. Always consult with a qualified financial advisor before making investment decisions.
