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The Company

S. B. & T. International Limited is a 100% EOU in the business of manufacture and export of studded jewellery at SEEPZ (a free trade zone) in Mumbai. The promoters are Mr. Surendra Kumar Sethi and Mr. Varij Sethi with Technical, Financial and Marketing collaboration with S. B. & T. Gem Imports Inc., Houston, USA. The company takes pride in being one of the very few companies that has the entire studded jewellery manufacturing facilities under one roof with a fully computerized inventory management system.

 

The Company has a proven track record of over a decade, and is a profit making and dividend paying company.  The turnover of SB&T has gone up from Rs. 25.91 crores in 1994-95 to Rs. 106.13 crores in 2002-2003. The Net profit has gone up from Rs. 2.68 crores in 1994-95 to Rs. 346.07 crores in 2002-2003 after writing off of Rs. 4.69 crores as one time exceptional extraordinary items pertaining to raw material, stock and diminution in value of investment as per the limited review carried out by International Auditing Firm. The book value was Rs. 28 in 1994-1995 on equity of Rs. 3.55 crores and now in 2002-2003 it is Rs. 57.66 ( on Consolidated account )on equity of Rs. 13.50 crores. The reserves of the company have gone up from Rs. 4.07 crores in 1994-95 to Rs. 60.14 crores in 2002-2003.

 

The Company was incorporated on 14th October 1986

 

IPO

 

The company was the 1st Jewellery Manufacturing Company to go public in April 1994. The initial public offering was made at a premium of Rs. 40 per share, which was over-subscribed 37 times. Since the issue, the company has acquired another plant through internal accruals in SEEPZ, which is fully operational. The Equity shares of the Company are listed on the Mumbai Stock Exchange in the B1 group, the National Stock Exchange, Ahmedabad, Delhi and Jaipur Stock Exchanges.

 

S. B. & T.s USP

 

v      Easy and efficient procurement of raw materials

¨       Biggest advantage lies in procuring and sourcing diamonds with a corporate buying office in the hub of the diamond market in Mumbai.

¨      Also the advantage of procuring gold, the main raw material, both locally and also through imports without any restrictions.

 

v     Technologically advanced

¨      Fully computerised inventory management system

¨      Fully computerised jewellery portfolio of over 3000 designs

 

v     Strategic Focus on retailing

¨      Enhanced profitability as retail segment is a high mark up segment

¨      Acquired Soft Touch Jewellers LLC. (STJ), a chain of retail jewellery stores in the Middle East in May 2000.

¨      Developed a web-based shopping store.

 

v     Foreign collaborators, S. B. & T. Gem Imports Inc., USA.

¨      Technical, marketing & financial collaboration

¨      Buy-back commitment of atleast 75% of the Company's production

¨      Input of latest international designs and trends

  

v     Large-scale operations give the advantage of economies of scale.

  

v     Established Goodwill as a Quality supplier in the International markets

  

v     Value Addition

Business Strategies

Strong “Retail Push” through Acquisition of Retail Jewellery Chains in Dominant Jewellery Markets

 

SB&T after a careful analysis of international markets has decided to venture into jewellery retailing.  This ensures greater visibility and higher margins.  To pursue this objective, the Company has adopted a more aggressive strategy of acquisition of exiting retail chains instead of establishing them afresh

 

*   Association with Giant International Retail Chains 

 

The Company has strategically set up its retail stores in the hypermarket Carrefour.  This association is an important step towards creation of brand awareness along with rapid expansion of presence in the retail market.

 

*   Implementation of and Adherence to Strict Security Standards for Risk Management

 

As the Company is dealing in high value products, it attaches a great deal of importance to strict security standards for risk against inventory theft, pilferage and fraud.  A detailed note is provided as Annexure III.

 

*   Effective use of Information Technology

 

Based on the current trends, SB&T sees a big opportunity in setting up its own e-commerce web site.  It proposes to have an increased market penetration by launching a jewellery vortal with strong back-end software support to match online expansion.

 

*   Efficient Supply Chain Management

 

The Company has also identified, that to achieve the desired results in the e-commerce initiative it will have to be adequately supported by an efficient supply chain management system.

 

This can be achieved through :

 

w                    Establishment of distribution hubs on a world-wide basis

w                    Efficient Inventory Management

w                    Online connection to all retail outlets

w                    Growth through Partnerships and Alliances

 

The Company believes in growth through partnerships and alliances. These partnerships and alliances help the Company to effectively synergise its various initiatives.

 

PARTNERSHIPS AND ALLIANCES

 

*        S. B. & T. Gem Imports Inc, (Houston), USA

 

SB&T-US is one of the promoters of SB&T. SB&T-US is in the jewellery business since 1972. It has an assured buy-back arrangement of upto 75% of the Company’s production which is valid till July 2012.  However, SB&T exports less than 60% of its production to SB&T-US. 

 

SB&T-US provides technical, financial and marketing assistance to the Company.  It provides SB&T with the latest designs and current trends in the international market. This helps SB&T to keep abreast with the changing tastes of the international consumers.

 

Currently, SBT-US has two Directors on the Board of SB&T and holds 13.57% equity of the Company.

 

 

*        Carrefour

 

The retail jewellery stores of the Company under STJ are located in the leading hypermarket – Carrefour.  Carrefour has a widespread presence in the Middle East after its takeover of the “Continent” chain of retail stores.

 

Carrefour is the second largest retail store chain originating from France with around 5400 stores world-wide. It sells everything from food to computers in its hypermarkets. CarrefourUAE is UAE’s most dynamic, fast-moving and exciting hypermarket chain. It is a joint venture company by Majid al Futtaim and Carrefour France. Carrefour France serves more than 2 billion clients per year in its stores, which are present in more than 31 countries spread across 3 geographic zones. At the end of November, the Group had 5425 integrated stores: 580 hypermarkets, 1318 supermarkets, 2726 deep discount stores, 135 convenience stores, 163 cash and carry and 503 frozen food stores. Today, Carrefour is present throughout the world in the form of its hypermarkets, a concept which it invented and has continually nurtured and developed. Carrefour also has created a strong portfolio of global and local private label products.

 

Carrefour acquired Continent in the second half of 2000 and is now Europe’s largest – and the world’s second largest – supermarket chain. Continent has had a presence in the UAE since the mid-1990s, and Carrefour is now looking at expanding in the other Gulf States. Late last year, Carrefour opened a hypermarket in Doha, and the company plans to launch in Bahrain and Oman within the next two years. It has 134 hypermarkets in France, and also operates supermarkets under the Stoc, Picard and Marche Plus brands.

 

*        SB&T (UK) Limited 

 

In July 2003 SB&T ( UK) Limited, a joint venture company has been formed along with Gerald Ratner and Gary O’Brien to undertake SB&T’s foray in the UK markets.

 


 

 

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