Jewellery continues to glitter in FY19, despite headwinds The jewellery division reported robust revenue growth of 22.3% YoY to | 4105.4 crore, driven by healthy like-to-like sales growth of 14%. The grammage growth was at 15% while gold prices were up 7% YoY to | 3102/gram in Q4FY19. The division reported inventory valuation loss of | 37.0 crore, which is expected to be largely reversed in the next quarter. Adjusting for the same, EBIT margins for the jewellery division improved 50 bps YoY to 13.0%. FY19 was a challenging year for the jewellery industry...