CaratLane’s Q2 Total Income Jumps 28% YoY to INR 829 Cr

CaratLane’s Q2 Total Income Jumps 28% YoY to INR 829 Cr

SUMMARY

CaratLane recorded a 27.9% YoY growth in its total income at INR 829 Cr in Q2 FY25

The omnichannel jewellery startup clocked an EBIT of INR 58 Cr in Q2 with a margin of 7%

The Tata-owned company opened 11 new outlets during the quarter under review, taking the total store count to 286 spread across 119 cities pan-India

Tata-owned omnichannel jewellery startup Caratlane recorded a 27.9% year-on-year growth in its total income at INR 829 Cr in the second quarter of the financial year 2024-25 (Q2 FY25), driven by strong customer demand for its studded products.

Total income excluded bullion and digi-gold sales of INR 143 Cr and INR 63 Cr in Q2 FY25 and Q2 FY24, respectively, CaratLane’s parent Titan said in an earnings statement.

Further, CaratLane clocked an EBIT (earnings before tax and interest) of INR 58 Cr in the July to September quarter, with a 7% margin.

Revenue from the studded category jumped 41% YoY, its contribution improving by 7 percentage points to 79% for the quarter under review, the company said.

“Activations in July and August 2024 spurred growth in new customer acquisition by c. 21% YoY and growth in brand searches by c. 30% YoY,” it added.

Additionally, CaratLane opened 11 new outlets during the quarter under review, taking its total store count to 286 spanning across 119 cities pan-India. The startup also claimed that the brand campaign of #WearYourWins, launched in July, which encouraged women to celebrate their wins, garnered strong engagement across all channels.

Founded in 2008 by Mithun Sacheti and Srinivasa Gopalan, CaratLane is an omnichannel brand that manufactures and sells jewellery items in India. 

Titan Company bought an additional 27.18% stake in CaratLane for INR 4,621 Cr at nearly INR 17,000 Cr valuation last year, increasing its total shareholding to over 99%. Afterwards, the watchmaker bought the remaining 0.36% stake in the startup for INR 60.08 Cr, turning CaratLane into its wholly-owned subsidiary. 

CaratLane competes against the likes of legacy players such as Kalyan Jewellers, Malabar Gold, as well as new-age brands such as BlueStone and GIVA.

The Chennai-based jewellery startup reported a profit of INR 78.6 Cr in FY24, down 5% from INR 82 Cr in the previous fiscal year. Meanwhile, the brand’s operating revenue surged 41% YoY to INR 3,080 Cr in the fiscal year ended March 2024. 

 

Step up your startup journey with BHASKAR! From resources to networking, BHASKAR connects Indian innovators with everything they need to succeed. Join today to access a platform built for innovation, growth, and community.

You have reached your limit of free stories
Become An Inc42 Plus Member

Become a Startup Insider in 2024 with Inc42 Plus. Join our exclusive community of 10,000+ founders, investors & operators and stay ahead in India’s startup & business economy.

2 YEAR PLAN
₹19999
₹7999
₹333/Month
UNLOCK 60% OFF
Cancel Anytime
1 YEAR PLAN
₹9999
₹4999
₹416/Month
UNLOCK 50% OFF
Cancel Anytime
Already A Member?
Discover Startups & Business Models

Unleash your potential by exploring unlimited articles, trackers, and playbooks. Identify the hottest startup deals, supercharge your innovation projects, and stay updated with expert curation.

CaratLane’s Q2 Total Income Jumps 28% YoY to INR 829 Cr-Inc42 Media
How-To’s on Starting & Scaling Up

Empower yourself with comprehensive playbooks, expert analysis, and invaluable insights. Learn to validate ideas, acquire customers, secure funding, and navigate the journey to startup success.

CaratLane’s Q2 Total Income Jumps 28% YoY to INR 829 Cr-Inc42 Media
Identify Trends & New Markets

Access 75+ in-depth reports on frontier industries. Gain exclusive market intelligence, understand market landscapes, and decode emerging trends to make informed decisions.

CaratLane’s Q2 Total Income Jumps 28% YoY to INR 829 Cr-Inc42 Media
Track & Decode the Investment Landscape

Stay ahead with startup and funding trackers. Analyse investment strategies, profile successful investors, and keep track of upcoming funds, accelerators, and more.

CaratLane’s Q2 Total Income Jumps 28% YoY to INR 829 Cr-Inc42 Media
CaratLane’s Q2 Total Income Jumps 28% YoY to INR 829 Cr-Inc42 Media
You’re in Good company