VAIBHAV

JEWELLERS

Date: 14.08.2024

To,

BSE Limited National Stock Exchange of India Limited

Corporate Relationship Dept. The Listing Department
Phiroze Jeejeebhoy Towers, Dalal Street, Exchange Plaza Plot No. C/1, G Block,
Mumbai — 400 001. Bandra — Kurla Complex Bandra (East),
Ref: Scrip Code. 543995 Mumbai - 400 051
Ref: NSE Symbol - MVGJL

Sub: Submission of Un-audited Financial Results and Limited Review Report in terms of
Regulation 30 and 33 of SEBI (Listing Obligations and Disclosure Requirements) Regulations,
2015.

Dear Sir/Madam,

Pursuant to Regulation 30 and Regulation 33 read with Schedule III of Securities and Exchange Board
of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 (“Listing
Regulations™), we hereby inform you that the Board of Directors at its meeting held today has,
inter-alia, approved Un-audited Financial Results for the First Quarter ended June 30, 2024 as
recommended by Audit Committee and reviewed by Statutory Auditors.

‘We hereby submit the Un-audited Standalone Financial Results for the First Quarter ended June 30,
2024 including disclosures required under Regulation 33 and other provisions of the Listing
Regulations as applicable, together with Limited Review Report issued by M/s Sagar & Associates,
Chartered Accountants, Hyderabad, the Statutory Auditor of the Company, is enclosed.

The Board Meeting Commenced at 12.00 P.M. and concluded at 5:00 P.M.

This is for your information and necessary records.

Thanking you,

Yours Sincerely,

For Manoj Vaibhav Gems ‘N’ Jewellers Limited

Digitally signed by
Bandari Shiva Bandari Shiva Krishna
Krishna Date: 2024.08.14
17:05:36 +05'30'

Bandari Shiva Krishna

Company Secretary & Compliance Officer
M.No: F11172

MANOJ VAIBHAV GEMS ‘N' JEWELLERS LIMITED

Regd. Office: #47-15-8,V Square, Zone-A, Opp: TSR Complex, Station Road, Dwarakanagar, Visakhapatnam, Andhra Pradesh, India, 530016.
Corporate Office : # 47-10-19, 2nd Lane, Dwarakanagar, Visakhapatnam - 530 016, Andhra Pradesh, India. @+91 891663 7777
E mail: [email protected]; & www.vaibhavjewellers.com CIN:L55101AP1989PLC009734
Manoj Vaibhav Gems 'N' Jewellers Limited
CIN:L55101AP1989PLC009734
Reg. Office: 47-15-8, V Square, Zone-A, Opp: TSR Complex, Station Road, Dwarakanagar, Visakhapatnam - 530016, Andhra Pradesh, India.

Statement of unaudited finandial results (Xin million)

3 months ended Year ended
Particulars June 30,2024 | March 31,2024 | June 30,2023 | March 31,2024
(Unaudited) (Audited) (Unaudited) (Audited)
1) Income
(a) Revenue from operations 5390.61 5,464.53 5,088.96 21,496.73
(b) Other Income 38.08 45.14 13.10 114.20

1l) Total income 5428.69 5,509.67 5,102.06 21,610.93

i) Expenses
(a) Cost of raw material consumed 2,966.59 3,151.21 3,100.49 12,823.80
(b) Purchases of stock-in-trade 1,958.11 222743 131442 732204
{c) Changes in inventories (197.38) (612.48) 352 (1,457.26)
(d) Employee benefits expense 11753 104.68 104.19 462.88
() Finance costs 97.96 111.89 107.92 44553
(f) Depreciation and amortization expense 2044 19.95 20.10 84.20
(g) Other expenses 175.45 22653 19297 843.04
IV) Total Expenses 5,138.70 5,229.21 484361 20,524.23

V) Profit before exceptional items and tax (Il - IV) 289.99 28046 25845 1,086.70
V1) Exceptional Items 2 g 5 <
Vi) Profit before
tax (V-VI) 289.99 28046 25845 1,086.70

VII) Tax expense:

(a) Currenttax 7438 76.08 68.08 285.11
(b) Deferred Tax (1.97) (1.27) (2.03) (7.66)
(c) Short/ (Excess) provision of earlier years - (0.02) - (0.01)
7241 7479 66.05 27744

IX) Profit for the period/ year (VIVIll) 217.58 205.67 19240 809.26
X) Other comprehensive income (OCI)
A) Items that will not be reclassified to profit or loss
a) Remeasurements of the defined benefit plans (1.59) 0.78 (1.85) (1.62)
b) Income tax relatingto Items that will not be 040 (020) 047 041
reclassified
to profit or loss
Other comprehensive income / (loss) for the period/ year, (1.19) 058 (1.38) (1.21)
net of tax
i) Total comprehensive income for the period/ year (IX+X) 21639 20625 191.02 808.05
XI1) Earnings per equity share (not annulized for quarter ended)
(a) Basic earnings per share of X 10 each 445 421 492 1837
(b) Diluted earnings per share of X 10 each 445 421 492 1837

Refer accompanying notes to the financial results.

Notes to Statement of audited financial results for the quarter ended June 30, 2024:

1 The Company is engaged in the retail business of Jewellery. As the company's business activity falls
within a single business segment, there is no separate reportable segments as per Ind AS 108
"Operating Segments".

The unaudited financial results of the Company for the Quarter ended June 30, 2024 are prepared in
accordance with the Indian Accounting Standards 34 "Interim Financial Reporting" ("Ind AS 34"),
notified under section 133 of the Companies Act, 2013 and Regulation 33 of Securities and Exchange
Board of India (Listing obligations and Disclosure Requirements) Regulations 2015, as amended and
the same has been reviewed by the Audit Committee and approved by the Board of Directors at their
meeting held on August 14, 2024. The statutory auditors have issued an unmodified review report on
the results.

The figures for the quarter ended June 30, 2024, have been reviewed by the Audit Committee and
approved by the Company's Board of Directors.

The Company has completed an Initial Public Offer ("IPO") of 12,567,441 equity shares at Face value
of X 10 each at an issue price of X 215 per Equity Share, comprising Offer for Sale of 2,800,000 shares
by a selling shareholder and a Fresh issue of 9,767,441 shares aggregating to X 2702 million. The
Equity shares of the company were listed on BSE Limited ("BSE") and National Stock Exchange of India
Limited ("NSE") on October 03, 2023.
The objective of the fresh issue as per prospectus and utilization is as below:

(X in million)
Particulars Amount
Opening balance of net funds received in monitoring account as at April 01, 2024 1,925.63
‘Add: Amount received from public issue account in Q1 of 2024-25 -
Less: Payments made to promoter shareholder in Q1 of 2024-25 -
Total receipts (A) 1,925.63

(% in million)
Asat
sl Pasbicilars beginning | During the At::':he:d
No. of the quarter
quarter
quarter
1 2 3 4 5=3+4
B | Utilization towards:
i Estimated capital expenditure cost for the
proposed 10.52 6.99 17.51
ii Estimated inventory cost for New Showrooms 397.43 - 397.43
iii_ | General Corporate purposes 123.73 9.09 132.82
Total Utilisation (B) = (i) + (ii) + (iii) 531.68 16.08 547.76

C | Balance unutilised as on June 30, 2024 (A) - (B)

i FD with Banks 1300.20 1300.20
ii Balance in Monitoring A/c 93.75 77.67
Total unutilized funds 1,393.95 1,377.87

As disclosed in the point no.4 above, the Company allotted 9,767,441 fresh equity shares having face
value of X 10 each to public at a premium of X 205 per equity share. The total securities premium out
of the “Fresh Issue” is X 2002.33 million. The share of estimated IPO related expenses relating to
“Fresh Issue” is X 206.62 million (incl GST) and taxable value thereof has been adjusted against the

"%mm“‘
 securities premium. Upon actualisation of final IPO expense, the difference, if any will be adjusted
against the securities premium account in the period in which such actualisation takes place.

6. The Other income for the quarter ended June 30, 2024 consists of interest income of X 23.99 million
from unutilized IPO proceeds.

7. Previous period's figures have been reclassified wherever necessary to correspond with the current
period's classification / disclosure.

8. This unaudited financial results is also available on the stock exchanges websites
"www.bseindia.com", "www.nseindia.com” and on our website “www. vaibhavjewellers.com”

For and on behalf of the Board of Directors,

Manoj Vaibhav Gems ‘N’ Jewellers Limited

QN LZ
.B.M. Ratna
Kumarl
Chairman & Managing Director
(DIN: 00492520) > *
St
Date: August 14, 2024
Place: Visakhapatnam
 SAGAR & ASSOCIATES i b
o1} CHARTERED ACCOUNTANTS T
E-Mail: [email protected]
[email protected]
GST No: TS - 36AAJFS7295N 128
AP - 37AAIFS7295N225

Independent Auditor's Limited Review Report on Unaudited Financial Results of

“MANOJ VAIBHAV GEMS ‘N’ JEWELLERS LIMITED” for the guarter ended 30"
June, 2024 Pursuant to the Regulation 33 of SEBI (Listing Obligations and Disclosure
requirement) Regulations, 2015

To
The Board of Directors
Manoj Vaibhav Gems ‘N’ Jewellers Limited

1. We have reviewed the accompanying statement of unaudited financial results of Manoj

Vaibhav Gems ‘N’ Jewellers Limited (the “Company) for the quarter ended June, 2024
(the “Statement”), being submitted by the Company pursuant to the requirements of
Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations,
2015, read with Circular No. CIR/CFD/CMD1/44/2019 dated 29" March, 2019 (“the
Circular”).

2. This Statement, which is the responsibility of the Company's Management and approved
by the Board of Directors, have been prepared on the basis of related financial statements
which is in accordance with the recognition and measurement principles laid down in
Indian Accounting Standard 34, Interim Financial Reporting prescribed under section 133
of the Companies Act. 2013, as amended read with relevant rules issued there under and
other accounting principles generally accepted in India. Our responsibility is to issue a
report on these financial statement based on our review of the Statements.

3. We conducted our review of the Statement in accordance with the Standard on Review
Engagements (SRE) 2410 “Review of Interim Financial Information Performed by the
Independent Auditor of the Entity”, issued by the Institute of Chartered Accountants of
India. This standard requires that we plan and perform the review to obtain moderate
Z N

assurance as to whether the financial statements are [ree of material misstatement. A review
is limited primarily to inquiries of antfiu’ém personnel and analytical procedures applied to
i |

B.O.: Flat No. FF-3, H No 40-6-2, Goteti Apartment, Kandari Hotel Street, Krishna Nagar, Vijayawada — 520 010
B.O.: H. No. 10-1-86, Mehar Nagar, Old Gajuwaka, Visakhapatnam — 530 026
B.0.: No. 4, Poes Road, 4th Street, Teynampet, Chennai — 600 018
B.0.: Flat No. 3C, Jeevan Residency, Behind Kalanjali, Renigunta Road, Tirupati - 517 501
SAGAR
/ & ASSOCIATES CONTINUMTION
5HIP
Chartered Accountants i
financial data and thus provides lcss assurance than an audit. We have not performed an
audit and accordingly, we do not express an audit opinion.

4. Based on our review conducted as above, nothing has come to our attention that causes us
to believe that the accompanying Statement, prepared in accordance with the aforesaid
Indian Accounting Standards and other recognized accounting practices and policies, has
not disclosed the information required to be disclosed in terms of Regulation 33 of the SEBI
(Listing Obligations and Disclosure Requirements) Regulations, 2015 as amended,
including the manner in which it is to be disclosed, or that it contains any material
misstatement.

For M/s SAGAR & ASSOCIATES

Chartered Accountants )
Firm Registration No. 0035105

\
(CA. B Srinivasa Rao) |
Partner Ned 1
Membership No. 202352.
UDIN: 24202352BKBEUY 6863

Place: Hyderabad
Date: 14.08.2024