Manoj Vaibhav Gems N Jewellers Limited has submitted to the Exchange, the financial results for the period ended March 31, 2025.
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Manoj Vaibhav Gems 'N' Jewellers reported strong FY25 results with revenue from operations rising about 11% year-on-year to Rs 23,840 million, while full-year profit after tax grew roughly 24% to Rs 1,004 million (EPS of Rs 20.56 vs Rs 18.37). The fourth quarter was even stronger, with revenue up about 29% to Rs 7,051 million and Q4 PAT up about 30% to Rs 267 million. Gross margins were largely steady, with EBITDA margin holding around 7.5%. However, operating cash flow swung sharply negative to Rs -667 million (from a positive Rs 595 million last year) as the company built up inventory of about Rs 2,366 million to stock eight new showrooms. Statutory auditor Sagar & Associates issued an unmodified opinion, and IPO proceeds have now been fully deployed.
Strong top-line and earnings growth reflects healthy jewellery retail demand and successful showroom expansion, which is positive for shareholders. The negative operating cash flow, driven by aggressive inventory build-up for new stores, is a short-term liquidity concern but is in line with the growth strategy and funded by IPO proceeds.