Whalesbook
Toh hua kya hai? RBZ Jewellers ne Q4 mein apna consolidated revenue 38% bada kar ₹190 Crore pahunchaya hai. Poore FY26 ki baat karein toh revenue 20% badhkar ₹637 Crore ho gaya. Profit ke maamle mein bhi company ne kamaal kar diya, FY26 mein consolidated PAT 41% badhkar ₹55 Crore ho gaya!
EBITDA margins bhi 233 basis points sudhri hain aur ab 14.44% hain. Ye growth kahan se aayi? Retail segment mein 31% ka jump dekha gaya, jisse ₹121 Crore aaye. Wholesale mein toh 57% ki tezi aayi aur ₹67 Crore generate hue. Company ne apna inventory bhi smart tarike se manage kiya hai, market price se 20% se 25% neeche rakha hai.
Lekin sab kuch itna bhi smooth nahi hai boss. Management ne FY27 ke liye apna guidance postpone kar diya hai. Kyun? Toh reason bataya gaya hai ki government ki policies mein uncertainty hai aur gold prices bhi bahut fluctuate kar rahe hain. Isiliye aage ka roadmap batana mushkil ho raha hai.
Expansion ki baat karein toh company iss saal 4 naye stores kholne ka plan bana rahi hai. Surat aur Rajkot mein Q2 FY27 tak showrooms target hain. Iske liye loan aur internal profits use honge, share price par koi effect nahi padega abhi. Company ne kuch risks bhi bataye hain, jaise policy changes aur gold price ki movement ka asar. Job work mein thoda volume pressure hai.
Competition mein Titan Company Ltd, Kalyan Jewellers India Ltd, PC Jeweller Ltd jaise players hain. Toh overall, results toh strong hain, par management aage ke liye thoda 'wait and watch' mode mein hai. Investors ko ab naye stores ki performance aur policy clarity ka wait karna hoga.