CaratLane Appoints Jigar Vyas as CFO Amid Strong Growth
Tata's omni-channel jewelry brand CaratLane recently revealed the appointment of Jigar Vyas as the Chief Financial Officer to enhance its financial management capabilities during a period of swift growth.
Vyas has been appointed to oversee CaratLane's finance department and guide the brand's strategic growth, with an emphasis on financial strategy, capital efficiency, governance, and internal controls.
Also Read: Tata Electronics, NIELIT Kohima to Skill Youth of Nagaland
He will collaborate with senior management to ensure financial decision-making aligns with the company's long-term goals and upholds fiscal responsibility.
Vyas possesses more than 16 years of expertise in the areas of corporate finance, strategic commercial planning, and overseeing extensive operational endeavors.
Before joining CaratLane, he served in high-ranking roles at ITC Ltd, Nielsen, and SUGAR Cosmetics, overseeing a range of market portfolios and directing sizable teams. Over the course of his professional endeavors, Vyas has gained substantial experience in sales finance operations, financial planning and analysis, capital raising, and cost optimization.
Also Read: PwC India Ropes in Former Ten Sports CEO Rajesh Sethi
Additionally, he has been instrumental in enhancing governance frameworks and streamlining operational efficiencies. Vyas' expertise encompasses working with established corporations as well as burgeoning consumer brands.
“I look forward to working closely with the leadership team to strengthen financial foundations, enable disciplined growth, and support the brand’s long-term value creation as it continues to scale”, Vyas says.
CaratLane's new appointment coincides with a period of robust financial results. During the second quarter of fiscal year 2026, the company achieved revenues totaling Rs 1,072 crore, representing a notable increase of over 32 percent compared to the same quarter in the previous year when revenues were Rs 811 crore.
In the second quarter of financial year 2025, there was a significant increase in Earnings before interest and tax (EBIT), rising by 78 percent to Rs 109 crore from Rs 61 crore. Additionally, the EBIT margins showed growth, expanding by 262 basis points on a year-on-year basis to reach 10.1 percent.
Also Read: Adani to Develop India’s Largest Battery Storage Project
In the fiscal quarter, CaratLane expanded its retail presence by inaugurating 10 new stores, thus increasing its overall number of outlets to 341, spread across 149 cities in India.