JOYALUKKAS TARGETS INR 50,000 CRORES REVENUE IN NEXT 6-7 YEARS

Joyalukkas Group Shifts Focus to Organic Growth, With IPO Postponed by 2-3 Years

Mr. Joy Alukkas, Chairman and Managing Director of Joyalukkas, revealed that the company has decided to postpone its initial public offering (IPO) by an additional two to three years. Instead, Joyalukkas is concentrating on organic growth strategies to achieve its ambitious revenue goal of INR 50,000 crore over the next six to seven years.

Focus Shift from IPO to Business Growth

Mr. Joy Alukkas, Chairman and Managing Director of Joyalukkas noted that despite earlier plans to go public, market conditions and strategic priorities have led the company to shift its focus. “Not now. Now we are only focused on our business and we will think after two or three years,” Mr. Alukkas explained. This decision marks a continuation of Joyalukkas’ cautious approach, following previous delays related to market conditions.

Financial Health and Strategic Position

Mathew Thomas, Executive Director of Joyalukkas, elaborated on the company’s financial health and strategy. He highlighted that Joyalukkas is performing exceptionally well compared to many of its industry peers who have already gone public. “We have enough and more funding internally plus the bank is more than willing to lend to us because our balance sheet is one of the best in the industry,” Thomas stated. He further emphasized that Joyalukkas’ strong financial position and internal approvals provide a solid foundation for continued growth and expansion.

Leveraging Existing Resources for Long-Term Growth

With a robust balance sheet and favorable banking relationships, Joyalukkas remains well-positioned to accelerate its business operations. The company’s decision to defer the IPO reflects a strategic emphasis on leveraging existing resources and focusing on long-term growth objectives.

The Interview of Mr. Joy Alukkas, CMD, Joyalukkas Group with CNBC TV18 can be seen at https://www.youtube.com/watch?v=T4evO4bvl-A