RO Jewels Announces Stellar Rise In Revenue As Stock Hit 5% Upper Circuit

RO Jewels, which has given multibagger returns to investors in the last one year, has on Monday struck the circuit at 5% in early trades. The current price of the stock is Rs 7.10 on BSE SME. Its upper price band has been fixed at Rs 7.10 or 5% during today's session. The microcap player from the gems, jewellery and watches industry has reported a strong performance in the period that ended on March 31, 2023. The company's net profit surged manifold in the March 2023 quarter.

The company declared a announced a stellar rise in revenue to Rs 490.72 million in March 2023 from Rs 104.92 million in December 2022. The net profit increased to Rs 1.91 million from Rs 0.36 million.

EPS for the quarter posted at Rs 0.38 million. Cash EPS reported at Rs 0.39 million. The OPM (operating profit margin) in percentage in March quarter was 0.51% and NPM 0.39%.

RO Jewels is a debt-free company. It is engaged in the wholesale business of gold and silver chains based out of Ahmedabad. The company sells gold based chains, bracelets, gold/silver bars and necklaces. It procures gold and silver majorly through the bullion market and partially from the local markets in Ahmedabad.

The company purchases only readymade chains and other jewellery from the jewellery manufacturers or independent jewellery wholesalers in Ahmedabad and Mumbai and then sells them. Its jewellery is widely sold throughout Gujarat and has a diversified portfolio for chains.