Malabar Gold reports 35 percent revenue growth at Rs 30,000 crore for FY 2021-22

By

Maverick Martins

Published
Apr 19, 2022

Malabar Gold and Diamonds reported a 35 percent growth in revenue at Rs 30,000 crore ($3.93 billion) for the fiscal year 2021-22, as against the previous year's business.

The company expects to touch Rs 45,000 crore during the current fiscal on the back of its retail expansion coupled with customer friendly initiatives like 'One India, One Gold Rate' programme and 'Fair Price Policy'.

“Putting customers' choices at the heart of our product designing has helped the company achieve this rare feat even during an otherwise difficult year," in a statement said MP Ahammed chairman of Malabar Group.

“Through our conscious policies, we were able to gain the confidence of customers across the world. We are only selling hallmarked gold in all the markets we're present in during the past two decades. We follow the policy of `Make in India, Market to the World'. Also, tax compliance and transparency are the hallmarks of our business model. We ensure transparency across the value chain in our business. This helps us to earn the sobriquet of `responsible jeweller' across the markets we operate. We surge forward on the back of our customers' dedication and loyalty", he added.

During the year, the company opened 31 new showrooms across the globe. Currently, it has 276 showrooms spread over 10 countries besides 14 ornament making factories in five countries.