Analyst corner: Uncertainty over pick-up in demand for jewellery demand - JP Morgan
Feb 21 2013, 10:27 IST
balance between margins and WC cycle while TBZL and PCJ have stated that they would prefer to pass the increased cost to consumers. Increase in custom duty rates will not impact volumes materially as per most jewelery retailers.
Direct gold imports no longer an attractive option considering lower lease period of 90 days vs 180 days which jewelers are getting under gold lease currently. Delay in moving to direct gold imports (which would have led to 50- 70bps saving) limits margin upside.
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