Jewellery Industry Speculation (Think twice before any investment)

In previous qtr. India gold Import

Import and Demand Highlights

Net gold imports dropped to 98.1 tonnes for the quarter.
Total gold demand fell 6% year-on-year to 131.4 tonnes.
Total demand value reached a record ₹1,98,100 crore (up 50% due to price spikes).
Jewellery demand decreased by 15% to 75.1 tonnes. 

Majority Company provide sales growth on revenue

Lab Diamond price fall Aproxx. 30%
Labor cost rose to 30 to 40% in last 1 year per gram
Real Diamond demand at 7 years low
Demand falls After Pm speech approx. 18%
• Majority company EPS fall from previous Qtr.
  
• War Uncertainty as well as K shape economic recovery shows less demand in Jewellery Sector from middle class.
• gold price volatility reduces margin of Company business, as any business never survive with price volatility in raw material cost.
  
  

Anticipation of Festival season demand gave up move in stock price.

Titan will going to declare result today so didn't marked

Tariffs on solar but stock up 1.5% (need to understand before investment)

 

Trump announces tariffs on key component for solar panels and semiconductors:-

Waaree Energies Ltd:-

About

Incorporated in December 1990, Waaree Energies Limited is an Indian manufacturer of solar PV modules with an aggregate installed capacity of 12 GW.[1]WEL has five solar module manufacturing facilities in India, with international presence.

Market Leadership

The company is the Largest Non-Chinese module manufacturer in the world.

Business Segments: -Solar Photovoltaic Modules (91% in FY26 vs 93% in FY24): [2] [3] The company manufactures standard multi-crystalline and mono-crystalline PV modules, advanced TOPCon modules such as bifacial monocrystalline, flexible module, passivated emitter, rear cell (Mono Passivated Emitter and Rear Cell PERC) modules and building-integrated photovoltaic (BIPV) modules.

Key Operational Metrics: Module Production (GW): 12.6 in FY26 vs 7.1 in FY25Cell Production (GW): 2.3 in FY26 vs 0.1 in FY252) Other (9% in FY26 vs 7% in FY24):The company designs and produces semi-flexible solar panels for international markets and generates revenue from EPC services, operations, and maintenance, and renewable power generation. It also engages in trading solar-related products, such as water heaters and pumps, as well as ancillary product sales and scrap disposal.

Revenue Mix Utility/IPP/C&I: 35% in FY26 vs 31% in FY24 Overseas: 33% in Q3 FY26 vs 57% in FY24 Retail: 21% in FY26 vs 10% in FY24 EPC: 11% in FY26 vs 1% in FY24

Export The company exports its products to key markets including the U.S., Canada, Italy, Vietnam, and over 20 other countries.

Clients The company serves 5,000+ customers globally, across key segments including B2B partners such as utilities and enterprises, EPC contractors, and project developers.

Need to see Management strategy before investment

Difference Between 2 company Guidance Bluestar vs PGEL (Keep Safe yourself before investment)

 Bluestar Management guidance very much negative

Bluestar Company Business:_ 

• Electro-Mechanical Projects: Large central AC & ventilation projects, Fire-fighting projects, Water projects, Plumbing projects, Electrical projects and Railway electrification.
• Commercial Air Conditioning: Blue Star is the market leader in Conventional and Inverter Ducted Air Conditioning Systems and Scroll Chillers and is at the second position in VRFs and Screw Chillers
• Unitary products: ACs, Air Coolers, Water Purifiers, Commercial Refrigeration etc. Products available in 8,800 outlets in 650+ locations.
• Professional Electronics and Industrial Systems (PE&IS): Specialized Technology Solutions, Engineered Turnkey Projects, Value-Enhancing Services, MedTech Solutions, DataSecurity Solutions, Industrial Solutions. now PGEL Management guidance very much Positive
  
  
  
  
  
  

  PGEL business: 

  
  
  
• Room Air Conditioners (RAC): CBUs, offering both ODM and OEM solutions for split and window air conditioners. Its product portfolio includes indoor units, outdoor units, and window AC units.
• Washing Machines: The company is the 2nd-largest OEM manufacturer of washing machines in India and one of the country's leading contract manufacturers in the segment. It provides ODM and OEM solutions to 20+ brands, offering semi-automatic washing machines with capacities ranging from 6 kg to 14 kg and fully automatic models ranging from 6 kg to 9 kg.
• Air Coolers:The company offers windows, desert, and personal air coolers.
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• Electronics (7% in FY26 vs 7% in FY25): The company specialises in PCB assembly and is expanding its electronics portfolio with products like security cameras, voice boxes, and other electronic subsystems. It also manufactures LED televisions through its joint venture, Goodworth Electronics. It manufactures TVs and Interactive Flat Panel Displays in sizes ranging from 32 to 100 inches.
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• Tool manufacturing (1% in FY26 vs 1% in FY25): The company’s toolroom can manufacture tools ranging from 90T to 1,450T, serving the consumer durables, sanitaryware, automotive, and other industries.
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• Plastic Moulding and Others (16% in FY26 vs 20% in FY25):The company has expertise in plastic injection moulding, supported by 500+ advanced moulding machines with capacities ranging from 90T to 2,100T. It manufactures high-precision components for industries such as consumer durables, automotive, and sanitaryware.

Blue Star another company started same Story about Commodity Price & Volatility

 Blue Star:-

The initial company to indicate that commodity volatility and inflation will impact future profit margins.

 

Elevated commodity prices are projected to affect the profit margins of both prospective and existing company projects.

Copper Fundamentals

 

Copper squeeze 

• The London Metal Exchange (LME) is currently experiencing low inventory levels.
  
  
• Concerns regarding US tariffs are contributing to elevated inventory levels within the United States.
  
  
• Increased scrutiny on Scrap Copper taxation fraud in China is generating demand for new copper.
  
  
• A significant premium in physical copper deliveries in China, approximately $100 to $120, is leading to a shortage on the LME as traders transfer inventory to China.
  
  
• Speculation of a substantial shortage is creating market apprehension for copper globally.
  
  
• A significant number of copper smelters in China have undergone maintenance, leading to supply shortages.
  
  
• The proportion of shutdowns attributed to smelter maintenance has increased from 6.3% to 14%.
  
  
• High Demand from AI & Chip maker Also Creating panic in copper market.

• Major producer China implemented strict export curbs on sulfuric acid, tightening global supply.
  Sulfuric acid is a vital chemical input in copper mining, primarily used to dissolve copper from low-grade oxide ores via heap leaching. It converts copper minerals into dissolved copper sulfate, which is then purified and processed through solvent extraction and electrowinning (SX-EW) to yield high-purity metal. Conversely, copper smelting operations can also produce massive amounts of sulfuric acid as a useful economic byproduct
  
  
  
• The cost of acid reagents has escalated significantly, rising from approximately 13% to nearly 20% of total operating expenses within specific oxide-leaching and African Copperbelt operations.
  
  
• Numerous remote mining facilities are reporting critically low inventory levels, currently at 30–60 days, which presents a significant risk of mandatory production curtailments.
  
  
• Operations engaged in processing high-carbonate copper ores necessitate substantial volumes of acid per tonne of metal produced, thereby eroding profit margins and compelling mining companies to re-evaluate near-term project economics.

K shape Recovery In Global Economy & Commodity Inflation overlooked

Global wealth has experienced a significant surge; however, a substantial portion of these gains represents unrealized paper profits.

Global wealth has reached $570 trillion, indicating that the current valuation boom is outpacing genuine economic growth.

Effective currency management often requires governmental intervention.

The global economic landscape and prevailing trading practices are subject to daily fluctuations, frequently diverging from established financial fundamentals.

The elevated cost of commodities essential for infrastructure development is projected to impede company growth and necessitate substantial working capital for business operations.

Crude oil, copper, aluminum, and silver are currently essential components in infrastructure development. These commodities serve as fundamental raw materials for various infrastructure projects. Presently, these commodities are experiencing significant volatility and increased costs, which is anticipated to impact business operations and corporate strategies in the near future.

Businesses cannot tolerate significant volatility in raw material costs, nor can they accommodate unexpected long-term project expenses.

Recent company announcements indicate a new order has been secured, leading to an increase in stock valuation due to anticipated profit. However, commodity price volatility is projected to negatively impact these potential earnings.

The majority of defense stock valuation and solar panel manufacturer stock valuation have become the biggest victims due to commodity volatility.

Company costs have risen significantly, for example, computers are 25% more expensive compared to two years ago, and mobile devices have increased by 15-20% from last year.

Therefore, it is imperative to recognize that every government will soon confront commodity inflation.

This issue is currently being overlooked or concealed.

Commodity Inflation Bubble always biggest burden for any economy in world.

Be catious in investment before it Burst.