Goenka Diamond & Jewels Ltd Share Price

History of Goenka Diamond & Jewels Ltd

Goenka Diamond & Jewels Limited was incorporated as a Private Limited Company on November 5, 1990 with the name Goenka Exports Private Limited. In January 30, 2002, the Company became a Public Limited Company and the name was changed to Goenka Exports Limited. On March 21, 2008, the Company again changed their name to Goenka Diamond and Jewels Private Limited and on April 15, 2008, it was converted into a Public Limited Company and the name was changed to Goenka Diamond and Jewels Limited . The Company was promoted by Nand Lal Goenka and his two sons, Mr. Navneet Goenka and Mr. Nitin Goenka. Navneet Goenka and Nitin Goenka. The Company is in the business of cutting and polishing of diamonds and manufacturing and retailing of diamond jewellery. It supplies the polished diamonds primarily ... to wholesalers, jewellery manufacturers, traders and retailers based out India and other countries such as Hong Kong, South East Asia and USA. Their quality and commitment to service has earned them a good reputation among Indian Jewellery and Diamond houses. The business is broadly divided into diamond processing business and jewellery business. Their diamond processing business consists of trading, cutting and polishing of diamonds and jewellery business of manufacturing and retail of jewellery. They have two sub-brands 'Ceres' which deals in high-end jewellery and 'G-Wild' targeting the youth The company's product profile includes rings, earrings, pendants, bracelets, necklaces, etc. which is manufactured using polished diamonds, precious and other semi precious stones which are set in gold. The company's manufacturing facility admeasuring 25,000 square feet in Special Economic Zone at Sachin, Surat. This facility has 26 polishing machines, 2 sarin machines, 6 auto brutters and 1 laser machine. The installed capacity of the unit is 60,000 carats per annum. The company's diamond processing facility in Mumbai processes diamonds for domestic sales besides providing polished diamonds for the jewellery making. The 2,000 square feet facility has 40 polishing machines, 2 sarin machines, 3 auto brutters and 1 laser machine and primarily processes larger sized stones. The company's Russia subsidiary also has a manufacturing facility where they process some of the rough diamonds procured from the local auctions. This facility has 10 polishing machines, 1 sarin machine, 2 auto brutters and 1 laser machine. Initially, the company was in the business of export of coloured stones. In the year 1994, they expanded their business into diamond trade. Also, they established their corporate office in Mumbai. The company was converted into deemed public company with effect from July 1, 1997. During the year, the company entered into diamond cutting and polishing business. In the year 2003, they commenced manufacturing of diamond studded jewellery. In November 29, 2004, the name of the company was changed to Goenka Exports Pvt Ltd. In the year 2006, the company started a state of art factory for cutting and processing diamonds started in a Special Economic Zone unit at Sachin, Surat. In the year 2007, they set up another facility for processing of rough diamonds in Mumbai for catering the local market and for their jewellery making operations. They also commenced jewellery manufacturing and diamond cutting. The company was awarded 'Two Star Export House' accreditation by the Ministry of Commerce In the year 2008, the company acquired M B Diamonds LLC, which is engaged in the business of treatment of diamonds, precious and semi-precious stones, manufacture of jewellery, trading, retailing, exporting and importing of the aforesaid precious stones and metals. They received ISO 9001:2000 certification. They launched 'G-Wild' and 'Ceres' jewellery brands. Also, they set up exclusive 'G-Wild' retail stores during the year. In April 2009, they set up their first exclusive 'Ceres' retail store in Mumbai. Currently, the company has their presence in retail through 3 company operated 'G-Wild' stores, 1 store under franchisee and 1 shop-in-shop for 'G-Wild'. The Company made an IPO of 9,371,000 Equity Shares of Rs.10/- each at an issue price of Rs.135/- per share through Book Building Process. The Shares of the Company got listed with the Bombay Stock Exchange Limited and the National Stock Exchange of India Limited on April 16, 2010. The Company in 2011, launched two Jewellery brands viz. CERES and G WILD as luxury products.