Caratlane Registers Rs 3,000 Cr Revenue In FY24, Profit Declines

CaratLane, a jewelry seller owned by Tata, registered a revenue grew 42 per cent in the fiscal year ending March 2024. Its revenue from operations grew from Rs 2,169 crore in FY23 to Rs 3,081 crore in FY24, as per media reports.

Jewelry selling was the sole source of revenue for CaratLane in FY24. Though company also earned Rs 25 crore from other financial activities, taking the overall revenue to Rs 3,106 crore, according to media reports.

The cost of procurement of material/stones was the largest cost center forming 69 per cent of the total expenditure, as per med a reports. This cost grew 48 per cent to Rs 2077 crore in FY24.

However, the company’s profit dipped marginally. According to media reports, despite the company reported a flat profit which stood at Rs 79 crore in FY24 as compared to Rs 82 crore in FY23. The expansion of stores appears to be the reason for the marginal dip in PAT.  ROCE and earnings before interest, taxes, depreciation, and amortization (EBITDA) margins stood at 34.88 per cent and 8.98 per cent, respectively. 

Notably, in February, Tata Group firm Titan Company acquired the remaining 0.36 per cent stake in CaratLane for Rs 60.08 crore. Following the deal, CaratLane is now a wholly-owned subsidiary of Titan Company.