What we do Manoj Vaibhav Gems N Jewellers Ltd operates organized jewellery retail under the brand Vaibhav Jewellers, focusing on high-quality, transparent service primarily in Andhra Pradesh and Telangana. |
Founded in 1,989 |
Market share A leading organized regional jewellery retailer with a strong presence in Tier 2 and Tier 3 cities in Andhra Pradesh and Telangana, operating 21 showrooms. |
Problem solved Provides trustworthy, quality jewellery with transparency to semi-urban and rural customers, introducing organized retail in underserved markets. |
Top clients or who we serve B2C retail customers predominantly in semi-urban and rural Andhra Pradesh and Telangana. |
Key management Mrs. Bharata Mallika Ratna Kumari Grandhi (Chairperson and Managing Director), Mrs. Sai Keerthana Grandhi (Whole-time Director & CFO). |
Our journey and innovations Founded 1994 as proprietorship, launched flagship V Square showroom in 2007, expanded across regions with 21 stores by 2025 and an e-commerce platform since 2018-19. |
Where we operate Andhra Pradesh and Telangana with 21 showrooms including franchise locations, expanding in Tier 2 and Tier 3 cities. |
Top products or what we offer Gold jewellery including 22KT, 18KT, 14KT gold-diamond pieces, antique, casting jewellery, and silver products. |
Top brands Vaibhav Jewellers and Visesha (premium sub-brand); flagship V Square showroom is a market leader in Visakhapatnam. |
Raw materials needed Gold bullion, precious and semi-precious metals and stones from approved vendors. |
Raw materials supplier Banks, bullion houses and approved jewellery suppliers. |
Recurring vs cyclical contribution Revenue largely cyclical aligned with gold price fluctuations but growing recurring sales via retail expansion. |
Our industry position A well-established regional organized jeweller in South India with strong operational efficiency and expanding rural customer base. |
Financial highlights FY 2024-25 revenue Rs. 2384 crore, net profit Rs. 100 crore, 11% revenue growth with steady EBITDA and PAT margin improvement. |
Geographical revenue split Majority revenue from Andhra Pradesh and Telangana regions. |
Order book - |
Whats driving growth Store network expansion, enhanced product variety, e-commerce platform, and deeper penetration in rural markets driving growth. |
Our future plans Opening new stores, strengthening supply chain, expanding digital presence, and launching new jewellery designs. |
Our green promise Energy-saving initiatives including solar panels and smart building management reducing carbon footprint. |
Our people and values 1128 employees with focus on employee well-being, retention and a collaborative culture. |
Key challenges ahead Managing gold price volatility, competition, and maintaining growth in rural markets. |
Interesting facts V Square showroom is one of India’s largest ISO-certified jewellery showrooms covering nearly 30,000 sq. ft. |
Risks and strategy Gold price risk managed via inventory and pricing policy; strategic regional focus and diversified product portfolio mitigate competitive risks. |
