Kalyan Jewellers Reports Strong H1 FY25 Performance with 32% Revenue Growth
13 Nov, 05:14 PM (GMT+5:30)
2 Min
Summary
Kalyan Jewellers India reported consolidated revenue of ₹11,601 crore in H1 FY25, up by 32% from ₹8,790 crore in H1 FY24.
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Key Takeaways from the Financial Performance
- Kalyan Jewellers achieved a consolidated revenue increase of 32% YoY, driven by strong performance in both India and the Middle East markets.
- Standalone revenue in India rose 34% YoY to ₹9,914 crore in H1 FY25, with a PAT of ₹285 crore.
- Middle East operations saw a 21% revenue increase to ₹1,611 crore for H1 FY25, highlighting Kalyan’s strong international footprint.
The consolidated PAT for H1 FY25 rose to ₹308 crore, compared to ₹278 crore in the previous year, reflecting steady growth despite a one-time loss of ₹69 crore due to reduced customs duties in India during Q2 FY25. In Q2 alone, Kalyan posted consolidated revenue of ₹6,065 crore and PAT of ₹130 crore.
Commenting on the financial performance, Mr Ramesh Kalyanaraman, Executive Director, Kalyan Jewellers India Limited, said, “We are extremely excited with the way the current year has progressed thus far, despite volatile gold prices and the ongoing quarter is also witnessing robust footfalls. We recorded SSSG in excess of 20% for the Diwali minus 30 days period when compared to the base year. We are upbeat about the ongoing wedding season across the country and hope to end the calendar year on a very strong note.”
India’s standalone revenue for H1 FY25 grew by 34%, reaching ₹9,914 crore, with a PAT of ₹285 crore. Q2 FY25 saw revenue of ₹5,227 crore and PAT of ₹120 crore. Meanwhile, the Middle East division saw revenue growth of over 21% to ₹1,611 crore, and PAT rose to ₹33 crore for H1 FY25, with Q2 FY25 revenue and PAT at ₹800 crore and ₹14 crore, respectively. The e-commerce segment, Candere, recorded revenue of ₹80 crore but posted a loss of ₹6 crore in H1 FY25, with Q2 revenue at ₹41 crore and a net loss of ₹3.8 crore.
About Kalyan Jewellers
Kalyan Jewellers is headquartered in Thrissur, Kerala, India's largest jewellery retailer, and has its footprint stretching into the Middle East. Kalyan Jewellers has made its mark in quality, transparency, and pricing with over three decades of experience. The company has showrooms in 303 locations across India and the Middle East with designs ranging from gold, diamonds, and precious stones.
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Eicher Motors Reports Record Q2 FY25 Results, Expands Global Reach with New Ventures
13 Nov, 06:08 PM (GMT+5:30)
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Summary
Eicher Motors (EML) has reported robust financial results for Q2 FY25, achieving its highest-ever Q2 revenue of ₹4,263 crore, up from ₹4,115 crore in Q2 FY24.
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Key Takeaways from the Financial Performance
- Eicher Motors achieved its best Q2 revenue at ₹4,263 crore with an 8.3% growth in PAT, reflecting solid financial performance.
- New facilities in Bangladesh and upcoming CKD operations in Brazil underscore Eicher's commitment to international growth.
- Royal Enfield’s entry into the EV market with Flying Flea aligns with Eicher’s long-term strategic goals in sustainable mobility.
The company’s EBITDA for the quarter was ₹1,088 crore, maintaining the previous year’s performance, while Profit After Tax rose by 8.3% to ₹1,100 crore. Eicher's iconic motorcycle brand, Royal Enfield, sold 2,25,317 motorcycles this quarter, compared to 2,29,496 units sold in Q2 FY24.
VE Commercial Vehicles (VECV), Eicher’s joint venture with Volvo, posted a revenue increase of 8% year-on-year to ₹5,538 crore, with a slight dip in EBITDA to ₹395 crore. VECV’s profit after tax also rose to ₹209 crore, marking significant growth driven by robust sales of 20,774 vehicles, up from 19,551 units last year.
The company took strategic strides forward globally. It started establishing a new manufacturing and assembly unit of Royal Enfield in Bangladesh. Plans are also underway to have the second CKD facility in Brazil. Two new motorcycles, the Guerrilla 450 and the Classic 350, marked their way into the markets with fairly decent reception by the public. As another landmark, it introduced its electric vehicle foray under the brand Flying Flea, unveiling two models, C6 and S6, which it showcased at EICMA 2024.
Siddhartha Lal, Managing Director of EML, emphasised Eicher's growth across sectors and innovation in the EV space, positioning the company as a key player in both the traditional and electric motorcycle markets.
About Eicher Motors Limited
Eicher Motors Limited, or EML, is the parent company of Royal Enfield-the global leader for the middleweight motorcycle segment. Founded in 1901, it has operations in over 65 countries and manufactures motorcycles that combine simplicity and pleasing riding experiences. VE Commercial Vehicles Limited is a joint venture company of Volvo in India, which works to modernise commercial transportation in the country. In FY24, EML reported total revenue of ₹16,536 crore.
About VE Commercial Vehicles Limited (VECV)
VECV is a joint venture between Eicher Motors Limited and Volvo Group, incorporating the two brands - Eicher trucks and buses and leading commercial vehicle technologies of Volvo. Established in 2008, VECV has built itself as a brand of reputation in India's commercial vehicle manufacturer, striving towards innovative solutions that upgrade transportability and satisfy customers.
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Wipro and Sipchem Complete SAP S/4HANA Digital Transformation
13 Nov, 05:20 PM (GMT+5:30)
2 Min
Summary
Sahara International Petrochemical (Sipchem), a leading petrochemical company in Saudi Arabia, has successfully completed its digital transformation with the implementation of SAP S/4HANA, in collaboration with Wipro.
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Key Takeaways from Wipro and Sipchem Digital Transformation:
- Sipchem completes SAP S/4HANA implementation with Wipro’s support.
- The project covers Sipchem’s operations in Saudi Arabia and Switzerland.
- The new system streamlines operations and improves decision-making.
- Wipro’s strong local presence and experience in the Energy & Oil sectors contributed to the success.
The project, which spans Sipchem's operations in both Saudi Arabia and Switzerland, is built on SAP's RISE platform and incorporates industry best practices.
This digital upgrade will streamline Sipchem’s operations and enhance decision-making, positioning the company as a future-ready enterprise.
"This pivotal milestone is a highlight in the transformative era of digitalization at Sipchem, enabling us to streamline our operations and enhance our competitive edge in the global market," said Abdullah Saif Al-Saadoon, Chief Executive Officer, Sipchem.
Vinay Firake, CEO, Asia Pacific, Middle East and Africa (APMEA), Wipro Limited, said, “With this successful implementation, Sipchem is better positioned to respond adeptly to market demands, foster innovation and pursue strategic growth opportunities.”
Wipro’s significant local presence in Saudi Arabia and its strong track record in the Energy and Oil & Gas sectors were key factors in the success of this partnership.
About Wipro Limited:
Wipro Limited is a leading technology services and consulting company that focuses on creating innovative solutions to help clients with their complex digital transformation needs. By combining expertise in consulting, design, engineering, and operations, Wipro helps clients achieve their most ambitious goals and build businesses that are ready for the future. With over 230,000 employees and business partners in 65 countries, Wipro is committed to supporting its customers, employees, and communities to thrive in a constantly changing world.
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India Glycols Enters Premium Alcobev Market with Amrut Distilleries Partnership
13 Nov, 05:08 PM (GMT+5:30)
3 Min
Summary
India Glycols Limited (IGL) has announced in Wednesday, November 13, its entry into India’s premium alcoholic beverages market through a strategic partnership with Amrut Distilleries.
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Key Takeaways from the Partnership
- IGL’s partnership with Amrut enables it to expand into the premium alcoholic beverages market with exclusive rights to produce and distribute top Amrut brands in northern India.
- Amrut will supply the blend and packaging, while IGL will ensure brand integrity and quality control for these premium products.
- The collaboration taps into the growing demand for premium brown spirits in India, particularly whisky, which dominates the IMFL segment.
IGL, known for manufacturing Indian Made Foreign Liquor (IMFL) brands in the regular segment, will now produce, sell, and distribute Amrut’s popular brands such as MaQintosh Whisky, Old Port Rum, Bejoice XO Brandy, and MaQintosh White Label Whisky across northern Indian markets.
Under a brand licensing agreement, IGL will be responsible for maintaining high-quality standards in both production and brand presentation, with Amrut overseeing the blend and packaging to ensure adherence to quality specifications. This collaboration is particularly significant in the Indian context, where brown spirits dominate the market, with whisky making up more than 58% of IMFL consumption. IGL’s premium venture aligns with its strategy to expand in the high-growth premium spirits sector alongside its existing offerings like Soulmate Whisky, Amazing Vodka, and Zumba Lemoni Citrus White Rum.
Commenting on the partnership, Mr Raju Vaziraney, Advising President IMFL, IGL, said “The objective of this move is to leverage IGL’s strength in the sector at a time when the demand for premium alcobev products is at an all-time high. Through this partnership with Amrut, IGL plans to capture a double-digit market share in the relevant premium segment over the next couple of years.”
“The agreement with Amrut completes a brands portfolio of IGL. The company will now focus on wider product range and direct resources to make IGL a major player in premium alcobev segment as well,” he added.
IGL operates advanced distilleries in Kashipur (Uttarakhand) and Gorakhpur (Uttar Pradesh) that produce high-quality Extra Neutral Alcohol (ENA), used both in its own beverage production and for premium products like those under the new Amrut collaboration.
About India Glycols Limited
Founded in 1983, India Glycols Limited (IGL) is a diversified player with a global footprint, recognised for its green speciality chemicals in pharmaceuticals, food and beverage, personal care, and industrial sectors. Known for quality consistency and innovative packaging, IGL’s operations extend across major distilleries and production facilities, making it a trusted name in high-quality, sustainable products worldwide.
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