Key Details

  • The new showroom is located at Hilite Countryside Mall, Chemmad, Kerala
  • Inauguration date: June 19, 2026
  • The showroom has commenced commercial operations
  • This represents the second retail showroom under subsidiary Esthara Jewels Private Limited

Business Strategy

  • Strengthens the subsidiary's direct-to-consumer (D2C) presence in Kerala
  • Part of AJC's strategy to build a differentiated retail platform focused on contemporary silver jewellery
  • Complements the company's established B2B gold jewellery manufacturing business
  • Esthara Jewels offers an extensive range of 925 sterling silver and gold-plated silver jewellery
  • Focuses on catering to evolving consumer preferences for stylish and affordable daily wear jewellery

Expansion Plans

  • Represents a milestone in the company's phased retail expansion strategy
  • AJC aims to strengthen the Esthara Jewels brand through company-owned retail outlets and digital commerce
  • Creating an integrated omnichannel platform for its silver jewellery business

Industry Context

  • India's gems and jewellery exports stood at USD 27.72 billion in FY2025-26
  • Silver jewellery exports grew by 52.21% year-on-year to USD 1.47 billion
  • Reflects robust global demand for value-added silver jewellery and affordable luxury products

Management Commentary

Mr. Ashraf P, Chairman & Managing Director of AJC Jewel Manufacturers Ltd., stated:

  • The expansion marks an important step in strengthening retail presence and direct customer engagement
  • Objective to build Esthara Jewels as a trusted destination for quality silver jewellery
  • Company continued to strengthen customer network through onboarding of reputed jewellery retail partners
  • Silver jewellery business expected to play increasingly important role in long-term growth strategy
  • Building a scalable direct-to-consumer platform supported by company-owned stores and digital channels

Financial Guidance

  • Targeting consolidated revenue CAGR of approximately 50% over the next three years
  • Targeting standalone revenue of around ₹450 crore in FY27

Company Background

AJC Jewel Manufacturers Ltd. is an integrated manufacturer of 22K and 18K gold jewellery products

  • Operates from 21,780 sq. ft. manufacturing facility in Malappuram, Kerala
  • Specializes in precision-engineered, design-led jewellery manufacturing
  • Proprietary B2B platform features library of 5,000+ jewellery designs