Hitechi Jewellery Industries Ltd.

Hitechi Jewellery Industries Ltd.

The Company

Hitechi Jewellery Industries Ltd. has its roots in modest trading activities. In June, 1992 it was incorporated as a Public Limited Company. In April, 1994 it came out with a Public Issue of equity shares aggregating to Rs. 233.37 lacs to part finance the object of setting up of facilities for manufacturing imitation jewellery and allied fancy items with an installed capacity of 100 MTPA. Since, then Hitechi has come long way and today it has three units, one each located at Bhayander ( Maharashtra ), Sanjan ( Gujarat ), Silvassa ( Union Territory of India ) with an aggregate installed capacity of approx. 200 MTPA.

Amongst the otherwise unorganised sector, Hitechi is the pioneer and as of today the only company to be listed on Bombay Stock Exchange Ltd. and National Stock Exchange Ltd. The companys products are marketed under the registered brand name of " HITECHI ".

Promoters Bio-data

Mr. N.C. Patadia ( Age 56 years )

Chairman & Managing Director

He has a rich and varied experience of over three decades in manufaturing of imitation jewellery. He belongs to a family which has had business of real gold and imitation jewellery for over seven generations. Besides, being endowed with skills and fine aspects of jewellery business as a part of legacy, he has also developed expertise in fabrication of machines, making extra ordinary dies and marketing of imitation jewellery industry. Hitechi Jewellery Industries Ltd., a company promoted by him in the year 1993 is the first stock listed company in India, in the otherwise unorganized imitation jewellery industry, to be listed on Bombay Stock Exchange Ltd & National Stock Exchange Ltd. Under his leadership, the company has registered a track record of consistent profits and declaration of investor friendly dividend track record right from its first year of operations viz. 1993 - 94.

Achievements :

Mr. N.C. Patadia is also a President of Imitation Jewellery Manufaturers Association ( IJMA ) since last 12 years. IJMA, formed with the objective of promoting the interests of the industry and its enterpreneurs, has around 550 members.

Mr. N.C. Patadia also had been nominated for " Order of Merit for Executives " award instituted by ICME, Mumbai. He has also been nominated for " Udyog Ratan Award " announced by Institute of Economic Studies, New Delhi.

Mr. S. N. Patadia ( Age 35 years )

Executive Director

He has been actively involved, for the last seventeen years, in various aspects of manufaturing of imitation jewellery viz. controlling design department, purchase department, manufaturing of dies, updatation of various machinery, scheduling production and delivery, packaging and pricing etc. He has also visited various foreign countries to promote, develop and maintain export relations for company's varied products and have an insight into other countries imitation industry.

Mr. D. N. Patadia ( Age 38 years )

Executive Director

He has been actively involved since last seventeen years for monitoring financial aspects of the company including arrangement of credit facilities from banks and financial institutions, arranging short term requirement of funds and outstandings of the company. He has also constructively involved in strategic decision making of various aspects of company's business.

The Market

There are no published data available on the demand and supply position of the Imitation Jewellery as bulk of the industry is in the unorganized small scale sector. However, it can be roughly estimated that the domestic imitation jewellery market size is around Rs. 1000 crores.

The product find wide usage among the female populace, particularly between the age group of 10 to 50 years and is popular among all classes of people including middle and lower middle class. There is also a pronounced fancy for an Indian Imitation Jewellery among foreign tourists, because of the variety of ethnic and trendy designs and intricate craftsmanship of Indian artisans. Further due to various factors like, growth in population, shift from real gold to imitation jewellery for safety reasons, frequent change in tastes & designs on account of increased media exposure, etc., the imitation market is ever growing which renders good marketing scope to all the players in the field, more so to the branded products. Branded products being very limited, Hitechi has a good scope in increasing its market share in the expanding market.Hitechi is already in the shopping list of foreign tourist, business class from various foreign countries as well foreign trade buyers.

The Hitechi brand is well established in the domestic market & has good potential to compete in international markets on account of quality products and economical rates due to availability of cheap labour.

Today Hitechi is a well known brand in the domestic market as well poised to be reputed brand in international market.