Organized gold jewellery retailers’ revenue to jump 23-25% this fiscal
- IBEF
- December 30, 2022
According to CRISIL ratings, organized gold jewellery retailers are expected to jump by 23-25% in terms of revenue this fiscal year. It is also projected that there will be a growth of 8-12% in the next fiscal.
It was revealed that the financials of 76 gold jewellery retailers accounted for 33% of the US$ 42 billion (Rs. 3.5 trillion) organised gold jewellery sector.
Mr. Aditya Jhaver, Director, Crisil Ratings, said that the organised jewellery retail sales volume is expected to increase 16-18% on-year to 670-700 tonne this year, which has been largely supported by wedding and festival demand and it accounts for 80-85% of gold jewellery sales. The realisation will also support revenue growth with an expected on-year increase of 5-7%. There can be further volume growth because of an increase in Goods and Services Tax (GST) and mandatory hallmarking and assist the organised players, which would thereby result in market share gains for them. India is one of the largest consumers of the yellow metal.
Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.
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