Shree Ganesh Jewellery expects $1 billion turnover in 2010-11
July 26th, 2010 - 7:54 pm ICT by IANSKolkata, July 26 (IANS) City-based hand-crafted jewellery maker Shree Ganesh Jewellery House expects to clock a turnover of $1 billion in 2010-11, a top company official said here Monday.
“The current quarter is crucial for us and our order book for this period is Rs.1,500 crore,” Nilesh Parekh, chairman, told reporters at a press meet.
The company’s order book size is Rs.3,000 crore for the current fiscal (2010-11).
The company’s export markets are primarily in the UAE, Hong Kong and Singapore. Export contributes up to 96 percent of its sales.
“The company is set to increase its export volumes by diversifying its product portfolio to diamond and machine made Italian jewellery. These new additions are expected to add up to 35 percent of the export revenues,” he said.
Revenues from exports stand at Rs.1,194 crore for the quarter ended June 30, 2010 against Rs.514 crore in the corresponding period last year.
The net profit for first quarter of 2010-11 jumped by 124 percent from Rs.28.48 crore a year ago to Rs. 63.73 crore.
- Shree Ganesh Jewellery in JV with Italian firm for Rs.100 cr plant - Oct 28, 2011
- Kingfisher Airlines third quarter loss at Rs.444 crore - Feb 16, 2012
- Infinite Computer Solutions yearly net up 35 percent - May 10, 2011
- TVS Motor's third quarter net profit up 1.39 percent - Jan 31, 2012
- Nestle India Q1 net profit up 9.75 percent - Jul 30, 2011
- ITC's second quarter net up 21.46 percent - Oct 24, 2011
- Larsen and Toubro's third quarter net profit up 18 percent - Jan 23, 2012
- NTPC's third quarter net falls 10.16 percent - Jan 27, 2012
- TVS logs 28 percent net profit, to launch new vehicles - May 24, 2012
- Bajaj Auto's Q3 net profit zooms 19 percent - Jan 19, 2012
- Tata Motors third quarter net profit up 40.47 percent - Feb 14, 2012
- SpiceJet's third quarter net loss at Rs.39.26 crore - Feb 06, 2012
- IDBI Banks' Q1 net profit up 33.61 percent - Jul 30, 2011
- Reliance Capital Q3 net profit up 229 percent - Feb 10, 2012
- HDFC Bank Q4 profit up 30 percent - Apr 18, 2012
Tags: 1 billion, clock, diamond, export markets, export revenues, export volumes, first quarter, hand crafted jewellery, hong kong, net profit, new additions, product portfolio, quarter ended june, shree ganesh, singapore export, turnover, uae