I, on behalf of the Board of Directors and the management team of PC
Jeweller Limited feel privileged to present the Company''s Annual Report
for the financial year 2013-14.
The Company was successful in facing the multitude of challenges and
demands raised during the year. It has managed to continue on its
expansion plans by opening 11 large format showrooms during the year.
With this expansion, as on March 31, 2014, your Company had total 41
showrooms. After the closure ofyear under reviewyour Company has opened
4 more new showrooms. Hence, as on date the Company is operating 45
showrooms under the ''PCJeweller'' brand located in 36 cities across 15
States and 1 Union Territory throughout the India.
The year under review also brought new supply side challenges in the
form of stoppage of metal loan facility for domestic operations and
supply restrictions under the 20:80 rule. However, I am glad to report
that your Company could adapt to the changing environment and new
regulatory policies effectively and continued to get supplies as per
The Company continues to focus on its domestic business and its export
operations are expected to remain less than 25% of its turnover. Within
its domestic operations the Company would continue to expand its time
tested large format stores with focus on wedding jewellery. We feel
that the Indian consumers are maturing and would continue to shift
their business from family run unorganized jewellers towards branded
players, where they are not only assured of purity and quality but also
wide variety and range of jewellery. Hence, your Company would continue
to expand its presence to become accessible to more and more consumers
all over the Country.
The Company would continue to concentrate on the jewellery business and
at the same time try to explore alternate delivery platforms like
online, franchisee as well to reach to the consumers across all
geographies and age groups.
Your Company has strong designing and manufacturing capabilities. It
continues to augment these capabilities as it feels that with the
increasing spread of branded players in the jewellery segment, these
two capabilities will enable it to face the competition effectively. We
also feel that improvement in overall economy with a strong government
in place is expected to boost the sentiments and lead to increased
I am thankful to all employees who have continued to perform in an
exemplary manner and face all the increasing demands and work pressure.
I also place on record my sincere appreciation to our stakeholders and
bankers for supporting us and being with us at all times.
With best wishes to each one of you and your family members.