Koura Fine Diamond Jewelry Limited IPO
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The company operating within the Indian jewellery industry, specifically focusing on wholesale distribution. This company, led by promoter Mr. Kamlesh Keshavlal Lodhiya, has established itself as a trusted name in the B2B sector of gold and diamond jewellery.
Product Range and Quality Assurance
- Jewellery Offerings: The company specializes in 22 Karat Gold and 18 Karat Diamond jewellery, ensuring a wide array of products like necklaces, chains, rings, and earrings. The venture into 750 certified and BIS-hallmarked diamond jewellery in 2018 highlights a commitment to diversification and quality enhancement.
- Certification and Hallmarking: Adherence to hallmarking standards set by the Bureau of Indian Standards (BIS) for gold and certifications from the International Gemmological Institute for diamonds underscore the company’s dedication to quality and trustworthiness. This legal compliance not only assures product quality but also boosts consumer confidence.
Business Model and Operations
- B2B Focus: Operating on a Business-to-Business (B2B) model, the company caters to the needs of retailers and other large-volume purchasers, positioning itself as a key supplier in the wholesale market.
- Sourcing and Manufacturing: The sourcing of finished jewellery from third-party artisans across India and the supply of raw materials to these artisans for job-work basis production indicate a well-orchestrated supply chain. Locations like Ahmedabad, Mumbai, Rajkot, and Surat are renowned hubs for jewellery manufacturing, suggesting strategic positioning for quality sourcing and craftsmanship.
Strategic Highlights
- Quality and Trust: The emphasis on hallmarking and certifications from reputable institutions is a strategic approach to ensuring product quality and building customer trust.
- Experienced Leadership: The promoter’s extensive experience and family background in the jewellery business provide a competitive advantage in understanding market trends, customer preferences, and operational efficiencies.
- Strategic Sourcing and Production: Leveraging India’s diverse and skilled artisan base for jewellery production, while maintaining stringent quality controls, supports a balance between craftsmanship and standardization.
Conclusion
The company’s strategic focus on quality assurance, experienced leadership, and a robust B2B model positions it well within the competitive landscape of the Indian jewellery industry. The adherence to hallmarking standards and the strategic sourcing of jewellery pieces underscore a commitment to excellence. With a rich history and a forward-looking approach, your company is poised for continued success in the wholesale business of gold and diamond jewellery.
Objects of the Koura Fine Diamond Jewelry Limited IPO:
The company proposes to utilize the funds which are being raised through this Issue ("Net Proceeds") towards the following objects:
i. Funding the working capital requirements of the company
ii. General Corporate Purposes
Koura Fine Diamond Jewelry Limited IPO Details:
| Open Date: | Mar 06 2024 |
| Close Date: | Mar 11 2024 |
| Total Shares: | 1,000,000 |
| Face Value: | ₹ 10 Per Equity Share |
| Issue Size: | 5.50 Cr. |
| Lot Size: | 2000 Shares |
| Issue Price: | ₹ 55 Per Equity Share |
| Listing At: | BSE SME |
| Listing Date: | Mar 14 2024 |
Promoters And Management:
Kamlesh Keshavlal Lodhiya is the Promoter of the Company and Chairman & Managing Director of the Company. He has been the main guiding force behind the growth and business strategy of the Company. He is 12th pass out with Commerce from Gujarat Secondary and Higher Secondary Education Board.He has more than 30 years of experience in dealing in business of Gold and Diamond Jewellery. He is currently responsible for the overall management and business strategy of the Company.
Pratibha Kamlesh Lodhiya is a Non- Executive Director in the Company. She is 12th pass out in Commerce from Gujarat Secondary and Higher Secondary Education Board. She has been associated with the Company since incorporation. She has more than 10 years of experience in dealing in business of Gold and Diamond Jewellery.
Charmi Kamlesh Lodhiya is the Whole time Director of the Company. She was appointed on the Board Since incorporation of the company. She holds a Bachelor’s degree in Business Administration from Heriot Watt University of Scotland. She has been associated with the Company since incorporation. She looks after human resource related activity in the Company.
Financials of Koura Fine Diamond Jewelry Limited IPO:
Particulars ( In Lakhs ) |
2023 |
6M-FY24 |
| Revenue from Operations | 556 | 602 |
| Other Income | 0.51 | 0.03 |
| Total Revenue | 556 | 602 |
| Cost of raw material consumed | 743 | 456 |
| Direct expenses | 9 | 9 |
| Changes in inventories | -238 | 84 |
| Employees Benefit Expenses | 6 | 19 |
| Other Expenses | 13 | 7 |
| EBITDA | 23 | 27 |
| Depreciation & Amortisation | 1 | 1 |
| Finance cost | 3 | 3 |
| EBIT | 22 | 26 |
| OPM (%) | 4.09% | 4.48% |
| PBT | 18 | 23 |
| Tax | 5 | 6 |
| PAT | 13 | 17 |
| NPM (%) | 2.41% | 2.83% |
| No.of Shares | 36.01 | 36.01 |
| EPS | 0.37 | 0.47 |
Comparison With Peers:
| Name of the Company | Revenue (In Crore) | PAT (In Crore) | EPS ( in Rs) | P/E | CMP | Mcap (In Crore) |
| Koura Fine Diamond Jewelry Limited | 6 | 0.13 | 0.37 | 147.7 | 55 | 20 |
| Ashapuri gold ornament Limited | 158 | 2 | 0.07 | 74.7 | 13.1 | 327 |
| Vaibhav Global Limited | 2,691 | 105 | 6.36 | 54.9 | 437 | 7,236 |
| Tribhovandas bhimji Zaveri Limited | 2,394 | 40 | 6.02 | 15.0 | 120 | 800 |
Recommendation on Koura Fine Diamond Jewelry Limited IPO:
Review and Recommendation of Koura Fine Diamond Jewelry by team IZ is 4/10.
1. They are a prestigious entity in the wholesale business of gold and diamonds jewellery, with Their firm is recognized for offering an extensive range of jewellery products, focusing primarily on gold and diamond jewellery. Operating on a B2B model, thier expertise encompasses 22 Karat Gold jewellery and 18 Karat Diamond jewellery, positioning us as a well-known and trusted wholesaler in the sector.
2. Commitment to Quality and Certification
The company prides itself on dealing exclusively with jewellery certified by the Bureau of Indian Standards (BIS) and the International Gemmological Institute, India. They ensure that our gold jewellery is BIS certified, meeting the 91.6% standard for 22 Karat, and their diamond jewellery adheres to the 75% certification for 18 Karat. In 2018, they expanded their product line to include 750 certified and BIS-hallmarked diamond jewellery, reaffirming their dedication to selling high-quality necklaces, chains, rings, and earrings designed and manufactured to meet the highest standards.
3. Sourcing
Their procurement strategy involves sourcing finished jewellery from skilled third-party artisans across India, complemented by the supply of raw materials, including gold bullion/bars, for jewellery creation on a job-work basis in key cities like Ahmedabad, Mumbai, Rajkot, and Surat.
The company's deep-rooted history, commitment to quality, visionary leadership, and strategic sourcing practices underscore our standing as a leading wholesaler in the gold and diamond jewellery industry. Our ongoing endeavors to uphold the highest standards of quality and design in our products will continue to be the cornerstone of our business model, ensuring our legacy and trust within the industry for years to come.
4. Strategies
i. Entering the E-Commerce Market ii. Regional Inclinations
iii. Adherence to Quality and Hallmarking
5. Strengths
i. Significant Market Opportunity ii. Wide range of design and product
iii. Long-term relations with clients iv. Sole focus on B2B wholesale jewellery segment
v. Vast experience of our Promoter with the sound market knowledge
6. The Revenue was Rs.5.5 Crore in FY23.
7. The EBITDA was 23 Lakhs in FY23.
8. The PAT was 13 Lakhs in FY23.
9. As per FY23, CFO/EBITDA is 1.18, As per FY24, EPS is 0.94,
10. Market Capitalization is 20 Crore & P/E is 58.2x based on FY24.
Lead Manager of Koura Fine Diamond Jewelry Limited IPO:
Registrar of Koura Fine Diamond Jewelry Limited IPO:
Company Address:
Koura Fine Diamond Jewelry Limited
304, Iscon Emporio
B/S Star India Bazar Nr. Jodhpur
Cross Road, Satellite Ahmedabad, 380015
Phone: +91 7016302567
Email: Info@kouradiamondjewelry.com
Website: https://kouradiamondjewelry.com/
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