HKJ earned 70 percent of its FY2021 total operating income in H1FY2022. HKJ has an on-line presence through 6250 jewellery shops as well as online retailing.
HK Jewels Pvt Ltd (HKJ), Mumbai (Maharashtra), India, December 9 (): The CARE Rating agency updated its forecast from negative to positive, citing a better financial stability in FY2021 and a strong increase in sales in H1FY2022 due to a better demand in diamond-consuming countries.HKJ has an on-line presence through 6250 jewellery shops as well as online retailing.HKJ earned 70 percent of its FY2021 total operating income in H1FY2022.The company's financial results for H1FY2022 are revised downwardly as a group, due to a higher risk profile for FY21 and a strong increase in sales during H1FY22 (referring to the period from April 1 to September 30, 2021), as a group, and the miners' price-versus-volume model, which has led to a more stable demand-supply ratio.
The group's liquidity situation was in jeopardy due to no long-term repayment commitments, financial assistance from promoters, and a near-full use of bank lines.Promoters and affiliated entities may extend additional short-term loans totaling Rs.20,000.On the back of strong demand for the group as a whole, 102 Cr.
The CARE rating agency expects a good increase in the scope of operations as well as an increase in PBILDT margins.Since most of the working capital is on hold, the group's liquidity situation remains stable.Hari Krishna Exports Private Limited (HKEPL), H.K Designs (India) LLP (HKD), H.K Jewels Private Limited (HKJ), and H.K Jewels Private Limited (HKJ) are among the companies comprising the group.
Source : https://thetimesbureau.com/hk-jewels-pvt-ltds-outlook-has-been-upgraded-to-a-positive-single-a-outlook-positive-by-the-care-rating-agency-202112/
Source : https://newswwc.com/india/latest-updates/positive-for-h-k-jewels-pvt-ltd/