Motisons Jewellers Limited IPO

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  1. Company Background:
    • The company operates in the jewelry industry and has experienced entrepreneurs as promoters with over 20 years of industry experience.
    • Started as a partnership firm, ‘M/s Motisons Jewellers,’ in 1997, it was later converted into a public limited company in 2011.
  2. Product Portfolio:
    • The business includes the sale of various types of jewelry, such as gold, diamond, kundan, pearl, silver, platinum, and jewelry made from precious and semi-precious stones.
    • Offers additional products like gold and silver coins, utensils, and artifacts.
  3. History and Expansion:
    • Commenced business in 1997 with a single showroom in Jaipur, Rajasthan, known as the ‘Traditional Store’ in Johri Bazaar.
    • Expanded to 4 showrooms under the “Motisons” brand in prominent locations across Jaipur.
    • The flagship store, ‘Motisons Tower,’ is located at Tonk Road, Jaipur.
  4. Online Presence:
    • Launched an online platform in 2011, allowing customers to browse and purchase jewelry directly from the website.
    • Online sales commenced in 2018, catering to younger and digitally savvy customers.
    • Offers virtual appointments to assist customers.
  5. Sourcing and Manufacturing:
    • Primarily sources finished jewelry from third-party suppliers across India.
    • Engages artisans on a job work basis and has its own manufacturing facilities in Jaipur for diamond and gemstone-studded jewelry.
    • Procures raw materials from various suppliers across the country to ensure a wide range of products.
  6. Product Profile:
    • Offers a diverse product range, including traditional, contemporary, and combination designs for various occasions.
    • Product lines include gold, diamond, and silver jewelry catering to all age groups and price points.
    • Customization of jewelry for individual needs is also offered.
  7. Business Model and Control:
    • The business model provides control over processes, from raw material procurement to sales through the network.
    • Focus on design and innovation, recognizing consumer preferences, and staying updated on market trends.
    • Diamond jewelry is certified by various agencies, including IGI, GIA, and IDT.
  8. Quality Assurance:
    • Gold and silver jewelry products are hallmarked by BIS (Bureau of Indian Standards), ensuring quality.
    • Internal certifications are provided based on customer demand.
  9. Strengths:
    • Key strengths include a dedicated design team, ability to recognize consumer preferences, diverse product range, and control over processes.
  10. Certifications and Compliance:
    • Diamond jewelry is certified by reputable agencies, and gold and silver jewelry is hallmarked by BIS.

Objects of the Motisons Jewellers Limited IPO:

The Company proposes to utilize the Net Proceeds of the Fresh Issue towards funding the following objects: i. Repayment of existing borrowings availed by the company from scheduled commercial banks. ii. Funding the working capital requirements of the Company and iii. General corporate purposes.
DRHP of Motisons Jewellers Limited IPO
RHP of Motisons Jewellers Limited IPO

Motisons Jewellers Limited IPO Details:

Open Date: Dec 18 2023
Close Date: Dec 20 2023
Total Shares: 27,471,000
Face Value: ₹ 10 Per Equity Share
Issue Type: Book Built Issue IPO
Issue Size: 151.09 Cr.
Lot Size: 250 Shares
Issue Price: ₹ 52 - 55 Per Equity Share
Listing At: NSE,BSE
Listing Date: Dec 26 2023

Promoters And Management:

Sandeep Chhabra is the Promoter, Chairman and Whole Time Director of the Company. He has cleared higher secondary examination conducted by Board of Secondary Education, Rajasthan in the year 1987 in the field of Commerce. Mr. Sandeep Chhabra stepped into business and has been associated with us since 1997. He brought his business acumen and vision to the Company at a very early age. He has more than two decades of experience in the business of manufacturing and retailing of jewellery made of gold, diamond, and other precious and semi-precious stones. In his capacity as a Chairman and Whole-time Director, he mentors, guides and provides perspective to the Board and management of the Company for strategic planning and enriching the brand for long run. Sanjay Chhabra is the Promoter and Managing Director of the Company. He cleared higher secondary examination conducted by Central Board of Secondary Education in the year 1993 in the field Commerce. Vigorously seizing the right opportunity, Mr. Sanjay Chhabra associated himself with Motisons Jewellers in 1997 and thereafter diligently worked towards building the brand ‘Motisons’. He has an experience of more than two decades in jewellery industry. Being a part of the top management, Mr. Sanjay Chhabra is responsible for devising long-term business plans, new business initiatives and achieving customer service excellence. Laksh Chhabra is the Joint Managing Director of the Company. He has completed his Bachelor of Science in Faculty of Humanities Management from University of Manchester and has joined the Company in 2022. Laksh Chhabra has entered into the business with innovation driven vision and is currently responsible for finance and accounting operations.

Financials of Motisons Jewellers Limited IPO:

Particulars ( In Crore )
2021
2022
2023
3M-FY24
Revenue from Operations 213 314 366 87
Other Income 0.02 0.14 0.61 0.03
Total Revenue 213 314 367 87
Cost of material consumed 13 31 36 3
Purchase of Stock-in-trade 166 283 303 72
Changes in Inventories -5 -51 -37 -4
Employee benefits expenses 6 7 8 2
Other Administrative Expenses 3 5 7 1
EBITDA 31 39 50 13
Depreciation & Amortisation 3 3 2 0.42
Finance Cost 15 16 18 5
EBIT 28 36 48 12
OPM (%) 14.61% 12.32% 13.52% 14.53%
PBT 13 20 30 7
Tax 3 5 8 2
PAT 10 15 22 5
NPM (%) 4.54% 4.69% 6.05% 6.31%
No.of Shares 9.84 9.84 9.84 9.84
EPS 0.98 1.49 2.25 0.55
 

Comparison With Peers:

Name of the Company Revenue (In Crore) PAT (In Crore) EPS ( in Rs) P/E CMP Mcap (In Crore)
Motisons Jewellers Limited 366 22 2.25 24.4 55 541
Goldiam International Limited 533 85 7.75 21.8 171 1,864
DP Abhushan Limited 1,971 45 20.36 25.1 597 1,328
Thangamayil Jewellery Limited 3,153 80 29.10 34.0 1,384 3,797
Renaissance Global Limited 2,237 87 9.22 13.1 98.2 944
* All the data is as per FY23.

Lead Manager of Motisons Jewellers Limited IPO:

  1. Holani Consultants Private Limited

Registrar of Motisons Jewellers Limited IPO:

  1. Link Intime India Private Limited

Company Address:

Motisons Jewellers Limited 270, 271, 272 & 276 Johri Bazar Jaipur – 302003 Phone: +91 – 141– 4150000 Email: nehajaincs@motisons.com Website: https://motisonsjewellers.com/

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