Lalithaa Jewellery Mart Ltd IPO

Second fastest growing regional jewellery player amongst key organised jewellery players in India basis operating revenue growth between Fiscal 2022 to Fiscal 2024.

Brand catering to the mass and value-conscious segment with own manufacturing.

Brand pull in Tier II and Tier III cities in southern India with focus on quality, craftsmanship and original designs.

Large Format Stores and Medium Format Stores driving scale.

We face significant competition in the Indian jewellery market. Our market share in the southern states in India may get adversely affected due to change in market trends, pricing and customer preferences, and we risk losing substantial portion of our customers which will adversely affect our business, financial condition, results of operations and prospects.

We have expanded our stores footprint from 38 stores in Fiscal 2022, to 56 stores as on December 31, 2024 in 46 cities across the States of Telangana, Andhra Pradesh, Tamil Nadu, Karnataka and the Union Territory of Puducherry. If we are unable to effectively manage or expand our retail network and operations or pursue our growth strategies, we may not achieve the expected level of profitability which may adversely affect our business prospects, financial condition and results of operations.

As of December 31, 2024, we operated our Manufacturing Facilities with 474 Karigars employed by our Company and 89 Karigars employed by Asita Jewellery Manufacturing Private Limited ("Asita") for manufacturing of our products. These Karigars who are on the rolls of our Company and Asita, manufactured 81.88%, 79.78%, 82.15%, 86.47% of our total products available for sale for the nine-month period ended December 31, 2024, Fiscal 2024, Fiscal 2023 and Fiscal 2022, respectively. Further, we have entered into short term agreements with 278 Karigars (as of December 31, 2024), on a non-exclusive basis, for manufacture and supply of jewellery. Our Company is dependent on these Karigars for manufacturing our products and any disruptions at our Manufacturing Facilities, or loss of these Karigars or failure of these Karigars to adhere to the relevant quality standards may have a negative effect on our reputation, business and financial condition.

Timely procurement of gold, our key raw material, as well as the quality and the price at which they are procured, play an important role in the successful operation of our business. The prices and availability of gold depend on factors beyond our control, including general economic conditions, competition, production levels and regulatory factors such as import duties. The non-availability or volatility in the cost of gold and absence of hedging facilities may have an adverse effect on our business, results of operations, financial condition and prospects.