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Malabar Gold & Diamonds reports Rs 30,000 Cr turnover in 2021-22

Malabar Gold & Diamonds reports Rs 30,000 Cr turnover in 2021-22

Malabar Gold & Diamonds, retail chains in the world, has reported a turnover of Rs 30,000 crore for the fiscal year 2021-22, a growth of approximately 35% compared to the previous year’s business.
According to an official communication from the company, Malabar Gold & Diamonds is eyeing a turnover of Rs 45,000 crore during the current fiscal. Products that suit the tastes of consumers, opening of the new showrooms worldwide, `One India, One Gold Rate’ program and `Fair Price Policy’ together helped the company to achieve this remarkable goal.

The company disclosed these details during the annual general meeting of its stakeholders held here recently. Ensuring cent percent transparency in all transactions also helped the jewellery retailer to achieve this coveted goal. 

The company opened 31 new showrooms last year alone, helping it reach more customers in the global marketplace. 

It created history by opening 22 showrooms across the world in January to welcome the New Year 2022. Currently, it has 276 showrooms spread over 10 countries besides 14 ornament making factories in five countries. 

The company follows a cent per cent tax compliance in all the countries it operates. In 2021-22, the company paid a gross tax of Rs 520 crore in India alone, the company's communication added.