AKSHAYA TRITIYA 2023

Akshaya Tritiya sees tepid demand on gold price surge

Gold demand during India's Akshaya Tritiya festival remained subdued as record prices curbed jewellery purchases, despite a slight increase in investment demand. Consumers shifted towards gold coins, with overall buying volume lower, though value spending was higher due to elevated prices. This reflects a changing trend of price-sensitive buyers purchasing throughout the year.

ICRA pegs organised jwellers' revenue growth at 12-15% y-o-y in FY2024

The rating agency estimates its sample set of 12 major organised jewellers to record a revenue growth of ~12-15% YoY in FY2024, despite a high base and evolving macro-economic environment, against the expected industry growth of 8-10% YoY. In terms of profitability, operating margin of ICRA’s sample set is likely to remain comfortable and stabilise at around 7.5-8% over the next two years.

Organised jewellery likely to witness 12-15 pc growth in revenue in FY24: Report

Organised jewellers are expected to record revenue growth of 12-15 per cent in FY24 despite a high base and evolving macro-economic environment, against the expected industry growth of 8-10 per cent YoY, Icra said in a report. Icra expects industry growth to moderate to 8-10 per cent YoY (in value terms) in FY24 with volume growth likely to remain constrained by expected volatility in gold prices amidst global macro-economic uncertainties and evolving domestic inflation.

India's organised jewellery retailers to continue to outpace industry in FY24, ICRA says

ICRA estimates its sample set of 12 major organised jewellers to record a revenue growth of 12-15% YoY in FY2024, despite a high base and evolving macro-economic environment, against the expected industry growth of 8-10% YoY. In terms of profitability, operating margin of ICRA’s sample set is likely to remain comfortable and stabilise at around 7.5-8% over the next two years.

Six things you should never do on Akshaya Tritiya

Gold likely to lose sheen on high prices this Akshaya Tritiya; jewellers expect 20% dip in demand

During Akshaya Tritiya, 40 per cent of the business is done in the south, 25 per cent in the west, 20 per cent in the east and the remaining 15 per cent in the north, GJC chairman Saiyam Mehra said.