RO Jewels, a small cap company engaged in wholesale business of gold and silver chains, has reported stellar numbers for the financial year 2022-23 as its revenue grew by over 900 per cent to Rs 506 crore.
The company’s total income for the year ended March 31, 2023 stood at Rs 507 crore, showing a jump of 918 per cent over the previous fiscal. In Q4, total income grew by over 1,000 per cent to Rs 491 crore.
Ahmedabad based RO Jewels is a debt free company primarily engaged in Consumer Discretionary Goods and Services (CDGS) industry. It purchases gold and silver mainly through bullion market and partly from domestic markets.
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Earlier in March this year, the face value of the shares of the company was split from Rs 10 to Rs 5. In December last year, the company had approved sub-division of shares in the ratio of 5:1, ie each share has one face. The face value of Rs 10 was sub-divided into 5 shares. After the split takes effect, the new face value becomes Rs.2.
The record date for sub-division was initially fixed as March 6, but was later revised to March 18 to determine the eligibility of members for sub-division of equity shares.
A stock split is a corporate action usually undertaken to increase liquidity. RO Jewels has given multibagger returns of 160% to investors in the last one year.
During Monday’s trade, RO Jewels shares gained 5 per cent and reached the upper circuit at Rs 4.87. RO Jewels has reported a revenue of Rs 105 crore for the December quarter of FY23, while its net profit stood at Rs 35 crore during the same period.
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