Khazanchi Jewellers Ltd

₹ 618 -0.40%

03 Jun - close price

About

Incorporated in 1996, Khazanchi Jewellers
Ltd is in the business of buying and selling
of Gold ornaments, Gold bullion and Silver bullion^[1]

Key Points

Business Overview:^[1]
KJL is a legacy jewellery brand founded in 1971, headquartered in Chennai. The company offers an extensive portfolio across gold, diamond, precious stone jewellery, designer collections, and bullion products (coins & bars), catering to wedding, festive, fusion, and everyday wear segments

Website BSE

Market Cap ₹ 1,528 Cr.
Current Price ₹ 618
High / Low ₹ 800 / 540
Stock P/E 17.1
Book Value ₹ 129
Dividend Yield 0.16 %
ROCE 34.8 %
ROE 32.5 %
Face Value ₹ 10.0

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Pros

Company has delivered good profit growth of 102% CAGR over last 5 years
Company has a good return on equity (ROE) track record: 3 Years ROE 27.1%

Cons

Company might be capitalizing the interest cost

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.

Peer comparison

Consumer Discretionary Consumer Durables Consumer Durables Gems, Jewellery And Watches

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Detailed Comparison with:

Quarterly Results

Figures in Rs. Crores

	Jun 2023	Dec 2023	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026
	187	208	381	375	394	622	404	549	589	508
	181	197	368	360	377	602	383	516	554	471
Operating Profit	6	10	13	15	16	19	21	32	35	37
OPM %	3%	5%	4%	4%	4%	3%	5%	6%	6%	7%
	0	0	0	0	0	0	0	0	0	1
Interest	1	1	1	1	1	1	1	1	1	3
Depreciation	0	0	0	0	0	0	0	0	0	0
Profit before tax	5	9	12	15	15	18	20	32	34	35
Tax %	46%	37%	26%	26%	19%	32%	25%	25%	26%	27%
	3	6	9	11	12	13	15	24	25	26
EPS in Rs	1.55	2.34	3.72	4.36	5.00	5.07	6.12	9.52	10.15	10.34
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Profit & Loss

Figures in Rs. Crores

	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	361	382	257	481	821	1,772	2,049
	353	374	249	465	780	1,707	1,924
Operating Profit	8	8	8	16	41	65	125
OPM %	2%	2%	3%	3%	5%	4%	6%
	1	1	1	1	1	1	2
Interest	6	5	4	6	5	4	6
Depreciation	0	0	0	0	0	0	1
Profit before tax	3	4	4	10	37	61	121
Tax %	24%	24%	23%	26%	26%	26%	26%
	2	3	3	8	27	45	89
EPS in Rs					11.04	18.15	36.13
Dividend Payout %	0%	0%	0%	0%	0%	6%	0%

Compounded Sales Growth
10 Years:	%
5 Years:	40%
3 Years:	62%
TTM:	16%

Compounded Profit Growth
10 Years:	%
5 Years:	102%
3 Years:	130%
TTM:	99%

Stock Price CAGR
10 Years:	%
5 Years:	%
3 Years:	%
1 Year:	11%

Return on Equity
10 Years:	%
5 Years:	26%
3 Years:	27%
Last Year:	32%

Balance Sheet

Figures in Rs. Crores

	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity Capital	10	10	10	10	25	25	25
Reserves	13	16	19	26	163	207	295
	78	75	84	85	55	65	110
	3	13	12	24	12	23	36
Total Liabilities	104	113	124	145	254	320	466
	13	9	13	13	13	13	25
CWIP	0	0	0	0	2	6	0
Investments	0	0	0	0	3	4	0
	91	104	112	132	236	296	441
Total Assets	104	113	124	145	254	320	466

Cash Flows

Figures in Rs. Crores

	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	6	5	-1	6	-83	0	-36
	-4	4	-4	-1	-6	-4	-2
	-4	-8	5	-6	90	5	38
Net Cash Flow	-2	1	0	-1	1	2	1
Free Cash Flow	2	9	-5	6	-86	-4	-42
CFO/OP	87%	71%	-2%	54%	-180%	25%	-8%

Ratios

Figures in Rs. Crores

	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Debtor Days	1	1	5	2	10	4	4
Inventory Days	90	101	158	101	95	55	78
Days Payable	3	12	16	18	1	1	5
Cash Conversion Cycle	88	89	146	85	104	58	76
Working Capital Days	88	58	96	56	83	48	52
ROCE %		8%	8%	14%	23%	24%	35%

Insights

In beta

Mar 2014

Mar 2015

Mar 2016

Mar 2017

Mar 2018

Mar 2019

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Mar 2021

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Mar 2025

Gold Sales Volume
kg

x,xxx.xx	xx,xxx.xx	xx,xxx.xx	xx,xxx.xx	xx,xxx.xx	xx,xxx.xx	xx,xxx.xx	xxx.xx	x,xxx.xx	x,xxx.xx	x,xxx.xx	x,xxx.xx
xx	xx	xx	xx	xx	xx	xx	x	xx	xx		x
xxx,xxx	xxx,xxx	xxx,xxx	xxx,xxx	xxx,xxx	xxx,xxx	xxx,xxx	xx,xxx	xx,xxx	xx,xxx		x,xxx
xx,xxx.xx	xx,xxx.xx	xx,xxx.xx	xx,xxx.xx	xx,xxx.xx	xx,xxx.xx	xx,xxx.xx	xx,xxx.xx	xx,xxx.xx	xx,xxx.xx
							xx.xx	xx.xx	xx.xx	x.xx	x.xx
							xx.xx	xx.xx	xx.xx	xx.xx	xx.xx
							xx,xxx	xx,xxx			x,xxx
											xxx,xxx

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Number of Showrooms
Number

Total Showroom Area
sq. ft.

Silver Sales Volume
kg

B2C Revenue Contribution
%

Bullion Sales Revenue Contribution
%

Active B2B Customer Base
Number

Design Library Size
Number

Extracted by Screener AI

Shareholding Pattern

Numbers in percentages

	Sep 2023	Mar 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026
	73.68%	74.51%	74.51%	74.51%	74.51%	74.51%	74.51%	74.51%	74.51%
	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.02%
	1.54%	1.49%	1.44%	1.51%	1.60%	1.59%	1.76%	1.76%	1.74%
	24.79%	24.01%	24.06%	23.98%	23.89%	23.89%	23.71%	23.73%	23.74%
No. of Shareholders	826	812	908	1,126	1,147	1,249	1,165	1,291	1,116

	Mar 2024	Mar 2025	Mar 2026
	74.51%	74.51%	74.51%
	0.00%	0.00%	0.02%
	1.49%	1.60%	1.74%
	24.01%	23.89%	23.74%
No. of Shareholders	812	1,147	1,116

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

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Documents

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Concalls

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