PC Jeweller

PC Jeweller Ltd
Joint Stock Company
Traded as BSE: 534809, NSE: PCJ
Industry Conglomerate
Founded 2005
Headquarters New Delhi, India
Key people
 Mr.Balram Garg ( Managing Director)
Products Gold, Diamond Jewellery and silver articles
Revenue ₹72.59 billion (US$1.0 billion) (2016)
Website www.pcjeweller.com

PC Jeweller Limited (BSE: 534809) is a jeweller based in New Delhi, India. It started operations in April 2005 with one showroom at Karol Bagh Delhi and 94 showrooms across India. It is a first generation business promoted by two brothers- Padam Chand Gupta and Balram Garg. The company however, had a vision of expanding its presence in the retail segment.[1] It has accordingly been opening showrooms at regular intervals and today has strength of 94 stores spread over 74 cities.[2]

PC Jeweller engages in the manufacture, export, wholesale and retail of jewelry in India. It offers gold and diamond jewelry. The company’s business model consists of opening large format, stand alone stores at high street locations. Its stores stock a wide range of jewellery across all price points, with an increasing focus on diamond jewelry. The company sells only hall marked jewellery and certified diamond jewellery.[3]

Key milestones

  • 2005: P Chand Jewellers was incorporated. Showroom in Karol bagh inaugurated.
  • 2007: Two more showrooms opened, at Noida and Panchukla (Haryana) respectively. Company also commences export operations from the manufacturing unit at the Noida SEZ.
  • 2008: Opens two more showrooms at Faridabad and Dehradun.
  • 2009: Commences operations at the manufacturing unit in Selaqui and Dehradun. Two more showrooms opened in Pitampura (New Delhi) and Chandigarh.
  • 2011: Company goes public limited from private. Export operations unit begin from the Noida SEZ. Eight more showrooms open in Ludhiana, Bilaspur, Pali, South Extension (New Delhi), Beawar, Ajmer and Amritsar.
  • 2012: Six more showrooms opened in Kanpur, Rohtak, Indirapuram (Ghaziabad), Rajouri Garden (New Delhi), Kingsway Camp (New Delhi) and Greater Kailash – 1 (New Delhi)

Awards

  • 2006: Awarded the Best Showroom award for Diamond Season by the B2C consultants, and brand architects
  • 2008: Awarded Jeweller of the year in the Business Sphere Awards by the Business Sphere Group, Academicians Bureau Publications Private Limited.
  • 2010: Awarded Highest Exporter and the Best Exporter in the gems and jewellery sector by the Noida SEZ, Department of commerce, Ministry of commerce and industry, Government of India for the year 2009-2010
  • 2011: Awarded Highest Exporter (SEZ Unit) and the Best Exporter (Gems and Jewellery) sector by the Noida SEZ, Department of Commerce, Ministry of Comemrce and Industry, Government of India for the year 2010-2011.
  • 2012: Awarded Niryat Shree Silver Trophy in the gems and jewellery non-MSME category, by the federation of Indian Export Organisations, set up by the Ministry of Commerce and Industry, Government of India for the year 2009-2010.[2]

Evolution

PC Jeweller has a vision of expanding its presence in the retail segment. It has accordingly been opening showrooms at regular intervals and today has 94 stores spread over 74 cities.[1] The company has a business model which is de-risked from gold price volatility. This is achieved by procuring a major portion of gold under the RBI Metal (Gold) Loan policy.[4] PC Jeweller went public in December 2012 after an IPO. It has plans to grow pan India by opening 20 stores each year and start opening franchise stores as well.[5]

Controversies

On 10th May 2018 Board approved buyback of up to 1.21 crore shares at Rs 350 for an aggregate amount not exceeding Rs 424 crore. But on 14th July 2018 it withdrew from the buyback offer citing the reason as permission declined from the bankers' side. And this turned in huge loss for investors.

[6]

References

  1. 1 2 "Company Overview of PC Jeweller Limited". Bloomberg Businessweek.com.
  2. 1 2 "PC Jeweller Ltd". Indiatimes.com.
  3. ↑ "PC Jeweller Ltd". Securities.com.
  4. ↑ "PC Jeweller to Increase Focus on Diamond Jewelry". diamonds.net. February 8, 2013.
  5. ↑ "K.M. Global Financial Services Ltd says 'Subscribe' to PC Jeweller Ltd IPO". chittorgarh.com. December 11, 2012.
  6. ↑ "PC Jeweller cracks 26% on buyback U-turn". The Economic Times. 2018-07-16. Retrieved 2018-08-19.
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