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PC Jeweller Chairman's Speech > Engineering - Heavy > Chairman's Speech from PC Jeweller - BSE: 534809, NSE: PCJEWELLER
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PC Jeweller

BSE: 534809|NSE: PCJEWELLER|ISIN: INE785M01013|SECTOR: Diamond Cutting & Jewellery & Precious Metals
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Mar 13
Chairman's Speech (PC Jeweller) Year : Mar '14
Dear Members,
 
 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
 its requirements.
 
 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
 consumer appetite.
 
 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.
 
 Yours sincerely,
 
 Sd/-
 BALRAM GARG
 Managing Director
Source : Dion Global Solutions Limited
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