RBZ Jewellers Limited — Investor Meet, 16-05-2025: Analysts/Institutional Investor Meet/Con. Call Updates

RBZ Jewellers reported Q4 revenue up 59% to Rs. 137 Cr and PAT of Rs. 8.5 Cr, recovering from a weak base. FY25 volume crossed 1,350 kg, driven by strong job work and B2B sales. Management targets Rs. 700 Cr revenue and Rs. 44-45 Cr PAT in FY26, aiming for Rs. 1,000 Cr top line by FY27. Retail expansion plans include new stores in Surat and Rajkot, targeting Rs. 600-700 Cr retail sales. Gold price volatility has delayed demand but weddings remain firm. Inventory stays high (~180 days) due to gold liquidity and job work. Margins and growth are expected to hold with a balanced B2B/B2C mix; no immediate CAPEX planned. Past employee fraud is provisioned, with insurance claim awaited. The outlook is confident yet cautious on short-term demand.