Commence commercial operation of company’s new jewellery unit in Ahmedabad; Successfully utilises FPO proceeds of Rs. 30 crores towards capacity expansion and working capital requirements
New Delhi (India), February 14: Ashapuri Gold Ornaments Ltd, one of India’s leading manufacturers of antique jewellery, has reported revenue from operations of Rs. 126.21 crore for the nine months ended December 2021, the rise of 67% over previous fiscal’s same period revenue of Rs. 75.53 crore. Net Profit for the 9MFY22 was reported at Rs. 2.72 crore. EPS for the 9MFY22 was reported at Rs. 1.09 per share. For Q3FY22 ended December 2021, the company reported revenue from operations of Rs. 51.96 crore, Net Profit of Rs. 1.13 crore and EBITDA of Rs. 1.66 crore.
Commenting on the results and performance, Mr. Dineshkumar Soni, Joint Managing Director, Ashapuri Gold Ornaments Ltd, said, “Company has delivered a steady operational and financial performance during the quarter, and we are confident of improving our growth numbers going forward. Celebrating the company’s silver jubilee, we are pleased to announce that the company has opened branch offices in Bangalore, Delhi and Mumbai with an aim to expand operations nationally. Our strategic growth initiatives, product and geographical expansion, operational efficiency are likely to maximize value for all stakeholders in the near to medium term.”
During the quarter, the company commenced commercial operation at the new jewellery manufacturing unit in Ahmedabad. In FY21, the company had raised Rs. 30 crore from follow-on public offering (FPO) for setting up a new unit, working capital requirements and general corporate purposes. FPO of the company was priced at Rs. 81 per share. The company has appointed Mr. Sanjay Rawal as Chief Financial Officer of the company w.e.f 30 December 2021.
“We want to thank all our stakeholders for the trust and confidence shown in the company for our FPO and making it a success. We are pleased to announce that proceeds of the FPO are fully utilised towards the company’s expansion plans and have commenced operations at the new unit in a record time,” said Mr. Jitendrakumar Soni, Joint Managing Director, Ashapuri Gold Ornaments Ltd.
Established in 1997, Ashapuri Gold Ornaments Ltd is one of the leading manufacturers of antique gold jewellery in India. Company’s manufacturing excellence in craftsmanship, a large inventory of designs & high quality of services has placed it in the league of top Jewellery suppliers. Company’s manufacturing unit is located in Ahmedabad and has offices in – Ahmedabad, Delhi, Mumbai, Bangalore and plans to expand nationally. Company’s clients include leading jewellery retailers and multinational brands, including Tanishq, Malabar Gold, Joyalukkas, among others. For FY21, the company posted revenue of Rs. 117.6 crore with a Net profit of Rs. 2.55 crore.
150864 742687Enjoyed reading this, extremely great stuff, appreciate it. 232017
133604 400219Id ought to seek advice from you here. Which is not something I do! I really like reading an post that could make people feel. Also, numerous thanks permitting me to comment! 508845
282886 978877Wow, wonderful weblog structure! How long have you been running a blog for? you made running a weblog look simple. The whole appear of your site is magnificent, neatly as the content material material! 974821
477178 778406After study several of the weblog posts on your own website now, we really like your way of blogging. I bookmarked it to my bookmark web web site list and are checking back soon. Pls consider my web-site likewise and make me aware in case you agree. 540596
307157 80218How do I know if a WordPress theme supports a subscribe option? 65512
488830 627241You can definitely see your skills within the work you write. The world hopes for much more passionate writers like you who arent afraid to say how they believe. At all times follow your heart 690777
660650 153223Thank you for your extremely excellent information and respond to you. 429790
I like this website so much, saved to fav.
88670 245327I view something genuinely particular in this website . 197478
I just couldn’t leave your website prior to suggesting that I really enjoyed the standard information an individual provide to your visitors? Is going to be back incessantly in order to check up on new posts.
This blog is definitely rather handy since I’m at the moment creating an internet floral website – although I am only starting out therefore it’s really fairly small, nothing like this site. Can link to a few of the posts here as they are quite. Thanks much. Zoey Olsen
I really appreciate this post. I’ve been looking everywhere for this! Thank goodness I found it on Bing. You’ve made my day! Thx again
It is truly a great and helpful piece of information. I am glad that you shared this useful info with us. Please keep us informed like this. Thanks for sharing.
Wow, awesome weblog format! How lengthy have you ever been running a blog for? you make running a blog glance easy. The overall look of your website is wonderful, as well as the content!
I appreciate, cause I found exactly what I was looking for. You have ended my 4 day long hunt! God Bless you man. Have a great day. Bye
646113 41311quite good publish, i truly adore this internet site, carry on it 359228