Pc Jeweller Ltd. · NSE:PCJEWELLER
Pc Jeweller — Q2 FY2014 Earnings Presentation
14 slides from Pc Jeweller's earnings presentation, Nov 11, 2013
Slide 1: PC Jeweller Limited Q2 FY 2014 Results Update
PC Jeweller Limited Q2 FY 2014 Results Update 11th November 2013
Slide 2: Disclaimer
Disclaimer Certain statements are included in this release which contain words or phrases such as “will,” “aim,” “will likely result,” “believe,” “expect,” “will continue,” “anticipate,” “estimate,” “intend,” “plan,” “contemplate,” “seek to,” “future,” “objective,” “goal,” “project,” “should,” “will
Slide 3: Q2 FY 2014 Results Analysis
Q2 FY 2014 Results Analysis Revenue – Rs. 11,117 mn PC Jeweller Limited 61.75% 38.25 % Domestic Sales Export Sales Revenue – Rs. 6,865 mn Revenue – Rs. 4,252 mn Approx. Gross Margins – 15.00% - 16.00% Approx. Gross Margins – 9.00% - 10.00% (on steady state basis) 69.66% 30.33% 0.01% Gold Jewellery D
Slide 4: Retail Sales Analysis (Quarterly Trend)
Retail Sales Analysis (Quarterly Trend) Q2 FY 14 Q1 FY 14 Q4 FY 13 HY 14 HY 13 Operational stores as on 36 36 30 36 30 Total Domestic Sales (Rs. mn) 6,865 11,780 8,848 18,645 12,506 Volume of Gold sold (Kgs.) 1,584.14 2,987.86 2,195.51 4,572.00 3,415.00 Percentage of Diamond jewellery sold 30.33% 25
Slide 5: Margin Analysis
Margin Analysis Q2 FY 14 Q1 FY 14 FY 14 FY 13 Particulars (3 months) (3 months) (Apr - Sep) (Apr - Sep) Revenue from Operations 11,117 13,790 24,907 18,557 Domestic Operations 61.75% 85.42% 74.86% 67.39% Export Operations 38.25% 14.58% 25.14% 32.61% Gross Margins 17.28% 13.55% 15.22% 15.97% Domestic
Slide 6: Management Discussion & Analysis – Q2
Management Discussion & Analysis – Q2 DEMAND SITUATION : The domestic demand for jewellery is always on a lower side in Q2 as compared to other quarters. This year, the demand in Q2 has also been affected by unprecedented demand jump in Q1. The company however, does not foresee any demand decl
Slide 7: Profitability and Other Developments in Q2
PROFITABILITY : The percentage of diamond jewellery sold has increased significantly from 25.72% to 30.33% in Q2 vis a vis Q1, which has helped the company increase its profitability in its domestic operations. The company has been able to maintain its profitability in the domestic segment in Q2
Slide 8: The Way Forward
The company has been rated as A/A1 (stable) by CRISIL during July 2013. The company has employed CRISIL for conducting audit of its stores. This audit assess the complete systems and procedures followed by the stores as well as complete stock verification. The CRISIL audit is in addition to its
Slide 9: Continuing the large format store business model
The company will continue its existing business model of opening large format stores on high streets. The company will also continue its focus on high value wedding jewellery with special emphasis on diamond jewellery. As per its existing expansion plans, the company would be opening 5 new store
Slide 10: Statement of Assets & Liabilities
Statement of Assets & Liabilities Rs in million As at As at Particulars 30 September 2013 31 March 2013 (Unaudited) (Audited) A. Equity and Liabilities 1 Shareholders’ funds (a) Share capital 1,791.00 1,791.00 (b) Reserves and surplus 14,024.62 12,097.06 Sub-total - Shareholders' funds 15,815.62 13,
Slide 11: Statement of Assets & Liabilities
Statement of Assets & Liabilities Rs in million As at As at Particulars 30 September 2013 31 March 2013 (Unaudited) (Audited) B. Assets 1. Non-current assets (a) Fixed assets 701.54 638.00 (b ) Non current investments 0.50 0.50 (c ) Deferred tax assets(net) 89.20 50.06 (d) Long term loans and advanc
Slide 12: Balance Sheet Items: Liabilities and Assets
BALANCE SHEET ITEMS : LIABILITIES Short term borrowings :- These have increased due to stoppage of lease model for domestic gold procurement after Q1. Trade payables :- These have increased due to:- Procurement of inventory for new stores in Q1. Almost 15% depreciation in Re value. Procure
Slide 13: Balance Sheet Items: Assets (continued)
Building up inventory for festive season. Trade receivables :- These are mainly export receivables and though their dollar value is more or less constant, their amount is higher as on 30th September 2013, due to nearly 15% depreciation in Re value vis a vis dollar. Cash and Bank Balances : Due
Slide 14: Thank You
Thank You `