Page 32 - Bullion World Volume 04 Issue 07 July 2023

Bullion World | Volume 3 | Issue 7 | July 2023

Despite the projected increase in times and 1.4 times, respectively, likely to continue in FY2024 with an
debt levels to fund the inventory estimated in FY2023. estimated increase in store count
for new stores, the debt protection After a brief hiatus in FY2021 and by 18-20% YoY. Consequently,
metrics for the larger players are FY2022 owing to the pandemic- the inventory turnover ratio for the
estimated to remain comfortable, as induced uncertainties, the organised sector is likely to remain under some
reflected by the estimated interest jewellers accelerated their retail pressure over the next couple of
coverage of more than 5.0 times and expansion in FY2023 with the store years as new stores have an average
total outside liabilities to tangible net count of ICRA’s sample set estimated breakeven period of 12-18 months.
worth ratio of less than 1.5 times over to have risen by more than 20%
the next 12-18 months, against 5.6 during the year. The momentum is

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