Veerkrupa Jewellers Limited IPO

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i. Veerkrupa Jewellers commenced their operations by setting up a showroom in Naroda, Ahmedabad and over the years they had opened their 2nd show room in Narol, Ahmedabad. The Showrooms with an area of 1050 square feet offer luxurious experience and customer services. Their collection of jewellery in both the showrooms reflects regional customer preferences and designs.

ii. Company’s jewellery business includes the sale of jewellery made of gold, silver, studded and other jewellery products that include diamond, platinum and other precious and semi-precious stones. Their product profile includes designer, traditional, modern and combined designs of jewellery at best prices

iii. The variety of jewellery offered enhances their efficiency and enables them to attract and retain the ever growing customer base and relationship. Their aim and focus on design and innovation, their ability to recognize consumer preferences and market trends, the intricacy of their designs and the quality of their products are their key strengths.

iv. The company essentially sell wide range of products for different occasions including special occasions, such as weddings and party-wear, jewellery for personal milestones, festival jewellery, daily-wear jewellery, kid‘s jewellery and men‘s jewellery. Each collection serves customers with different needs and preferences for different designs at various and best price range.

Competitive Strengths
i. Use of the established Brand name
ii. Prime Location of the Showroom
iii. Diversified product portfolio across categories and price points
iv. Experienced Promoter and management team with proven execution capabilities

Objects of the Veerkrupa Jewellers Limited IPO:

The Net Proceeds from the Issue are proposed to be utilized by the Company for the following objects: 1) To meet the Working Capital requirements; and 2) General Corporate Expenses.
DRHP of Veerkrupa Jewellers Limited IPO

Veerkrupa Jewellers Limited IPO Details:

Open Date: Jun 29 2022
Close Date: Jul 05 2022
Total Shares: 30,00,000
Face Value: ₹ 10 Per Equity Share
Issue Type: Fixed Issue
Issue Size: 8.1 Cr.
Lot Size: 4000 Shares
Issue Price: ₹ 27 Per Equity Share
Listing At: BSE SME
Listing Date: Jul 13 2022

Promoters And Management:

i. Mr. Chirag Arvindbhai Shah, aged 39 years, is the Promoter, Managing Director and CFO of the Company. His career in gems and jewellery began by working for big jewellers Amiras Jewellers, Deep Jewellers, S B Jewellers, working Partner Shakti Jewellers. Gaining 7 to 8 years of experience in jewellery industry, he started his own Jewellery Proprietary Firm under the name of M/s. Veerkrupa Jewellers in the year 2013. Further with the bigger vision in the jewellery industries, he and his wife incorporated the company in the year of 2019. ii. Mrs. Nehaben Chiragbhai Shah, aged 35 years, is the Promoter and Whole - Time Director of the Company. She is associated with company since 9 years and is responsible for overall operations related to jewellery soldering. Besides this, as a Whole-Time Director, she also looks in to the administrative aspect of the company and she also supervises and manages the jewellery designing department of the company. iii. Mr. Pinkeshkumar Jivanlal Shah, aged 45 years, is the Non-Executive Director of the Company. He has 20 years of experience in gems, diamond and jewellery industry. He is associated with the company since 2019. He is responsible for the purchase, sale, quality check and selection of diamonds jewellery‘s.

Financials of Veerkrupa Jewellers Limited IPO:

Particulars (in Lakhs) Dec-22 Mar-21 Mar-20 Mar-19
Sales 1,003 463 1,095 162
Purchase of Stock in Trade 947 1,079 1,183 202
Change in Inventories 14 -627 -96 -71
Employee Benefits Expense 6 3 4 2
Other Expenses 8 4 3 7
Operating Profit 28 4 1 22
OPM % 2.79% 0.86% 0.09% 13.58%
Other Income 0.09 0.52 0 3.26
Finance Cost 0 0 0 12.38
Depreciation 1.27 2.29 0.67 0.40
Profit before tax 24.90 1.52 0.71 8.27
Total Tax Exps 3.50 0.45 0 0.00
Net Profit 21.40 1.07 0.71 8
NPM % 2.13% 0.23% 0.06% 5.10%
No. of shares 78.63 78.63 78.63 78.63
EPS 0.27 0.01 0.01 0.11

Comparison With Peers:

Name of the Company Sales (In Cr.) PAT (In Cr.) EPS PE RoCE Mcap (In Cr.) Returns 3Y Sales Growth (3Y)
Veerkrupa Jewellers Ltd 13 0.29 0.36 - 4.18% - - 726%
Kalyan Jewellers India Ltd. 10,818 224 2.18 26.6 9.29% 5,959 -23% 11%
Swarnsarita Jewels India Ltd 841 8 3.87 4.48 7.66% 36 118% 53%
Goldiam Internation Ltd 688 105 9.65 13 29.50% 1,368 401% 58%
Vaibhav Global Ltd 2,752 238 14.5 23.5 20.90% 5,002 77% 52%

Lead Manager of Veerkrupa Jewellers Limited IPO:

  1. First Overseas Capital Limited

Company Address:

Shop No. 7, Vrundavan Residency, Near Satyam School, Near Dharmnath Prabhu Society Naroda, Ahmedabad 382330, Gujarat, India

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