Wednesday, January 4, 2012

>GITANJALI GEMS LIMITED: Four leading diamond jewellary brands of Gitanjali Gems- Gili, Nakshatra, Asmi and D’Damas rose 84 per cent i.e. Rs. 2769 crore in the last two years

■ Q2 FY12 Results Update
Gitanjali Gems Ltd has posted net profit of Rs 1322.46 million for the quarter ended on September 30, 2011 as against Rs 800.29 million in the same quarter last year, an increase of 65.25%. It has reported net sales of Rs 31676.41 million for the quarter ended on September 30, 2011 as against Rs 25097.10 million in the same quarter last year, a rise of 26.22%. Total income grew by 26.23% to Rs.31701.31 million from Rs.25112.96 million in the same quarter
last year. During the quarter, it reported earnings of Rs 15.32 a share.

■ Net Sales &; PAT growth
During the quarter, Net sales rose by 26.22% to Rs. 31676.41 million from Rs.25097.10 in the same the quarter last year and the Total Profit for quarter ended September 2011 was Rs.1322.46 million grew by 65.25% from Rs.800.29 million compared to same quarter last year.

Due to increase in equity capital the basic EPS of the company stood at Rs.15.32 for the quarter ended Sep. 2011 from Rs.9.50 for the quarter ended Sep. 2010.

■ Acquisition of 100% stake of 'Crown Aim Limited’
Gitanjali Gems Ltd has acquired 100% stake of 'Crown Aim Limited' ('Crown Aim'). Thus Crown Aim has become step down subsidiary of the Company. Crown Aim is a Hong Kong based Company engaged in the business of distribution of Jewellery to China, Japan, USA, Middle East and Europe. In Addition, Crown Aim has a Jewellery manufacturing unit in China and plans to setup retailing of Jewellery in China. Crown Aim also has a 100% subsidiary with the name Alfred Terry Holding Limited and a step down subsidiary named Alfred Terry Limited in London, for distribution of Jewellery in UK.

Incorporation of wholly Owned Subsidiary 'Leading Italian Jewels S.r.l., Italy'
Gitanjali Gems Ltd has incorporated a Wholly Owned Subsidiary in the name of Leading Italian Jewels S.r.l in Italy with a view to expand its business in Italy and adjoining region. The main activity of the newly incorporated wholly owned subsidiary is trading in precious stones, diamonds jewellery, pearls, etc.

■ Incorporation of Wholly Owned Subsidiary GGL Diamond LLC in USA
Gitanjali Gems Ltd has incorporated GGL Diamond, LLC in United States of America, through its wholly owned subsidiary Gitanjali USA, Inc. The main object of GGL Diamond LLC is to source and distribute diamond and jewellery.

 ■ Incorporation of Wholly Owned Subsidiary 'Aston Luxury Group Ltd' in Hong Kong

Gitanjali Gems Ltd has incorporated a Wholly Owned Subsidiary in the name of 'Aston Luxury Group Limited' in Hong Kong with a view to explore and expand the International business of the Company in Asia Pacific.

To read the full report: GITANJALI GEMS