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I just had a same question on your margins. So of course, as you mentioned, your PBT margin has improved a bit due to franchise shift. I just want to understand from an EBITDA point of view, also, I mean your EBITDA for the fourth quarter stand-alone is probably reduced around 90 bps and maybe gross margin also, I think about close to around 120 bps.
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So safe to assume this decline in EBITDA margin is only because of that and there's no other impact because of any reduction in the making charges that you would have seen?
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Understood. This is clear. Second thing is on Candere. So we're about doing revenue to 13 stores. And I think now we are moving to the franchise billing model as you also mentioned earlier, you have quite a decent amount of industry. So just want to understand a little longer, a 3-year, 5-year story in Candere, we are aggressively increasing our store and so we don't really think this will reach in 3 to 5 years.
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Analyst questions
Aliasgar Shakir
Motilal Oswal Financial Service
1Call
1Company
KALYANKJIL
All company callsKalyan Jewellers India Limited
Kalyan Jewellers India Limited CC-Mar24.pdf
10 May 2024