The Bengaluru-based jewellery retailer and exporter has managed to expand margins and build capacity on the back of its $400 million acquisition of Valcambi, the world's largest gold refining company, last year. The company also plans to expand its retail footprint under the Shubh Jewellers brand, which currently has about 80 outlets. Recent reports suggest that it may once again be on the lookout for acquisitions; this time in Dubai.