AJC Jewel Manufacturers Ltd
Incorporated in 2018, AJC Jewel Manufacturers Limited is engaged in the business of jewelry manufacturing, specializing in crafting bracelets, bangles, rings, earrings, necklaces, and anklets.[1]
- Market Cap ₹ 57.6 Cr.
- Current Price ₹ 94.9
- High / Low ₹ 111 / 79.6
- Stock P/E 13.6
- Book Value ₹ 50.9
- Dividend Yield 0.00 %
- ROCE 14.7 %
- ROE 21.7 %
- Face Value ₹ 10.0
Pros
- Company has a good return on equity (ROE) track record: 3 Years ROE 27.8%
Cons
- Though the company is reporting repeated profits, it is not paying out dividend
- 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
Part of BSE SME IPO
Half Yearly Results
Figures in Rs. Crores
Profit & Loss
Figures in Rs. Crores
| Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | TTM | |
|---|---|---|---|---|---|---|
| 68 | 127 | 194 | 246 | 220 | 211 | |
| 67 | 125 | 190 | 241 | 215 | 203 | |
| Operating Profit | 1 | 2 | 4 | 5 | 6 | 8 |
| OPM % | 2% | 2% | 2% | 2% | 3% | 4% |
| 0 | 0 | 0 | 1 | 1 | 0 | |
| Interest | 0 | 0 | 1 | 2 | 2 | 3 |
| Depreciation | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit before tax | 1 | 2 | 3 | 4 | 4 | 6 |
| Tax % | 30% | 30% | 31% | 27% | 27% | |
| 1 | 1 | 2 | 3 | 3 | 4 | |
| EPS in Rs | 33.17 | 47.05 | 76.75 | 7.01 | 6.43 | 7.96 |
| Dividend Payout % | 0% | 0% | 0% | 0% | 0% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | 20% |
| TTM: | -10% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | 33% |
| TTM: | -7% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | % |
| 1 Year: | % |
| Return on Equity | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | 28% |
| Last Year: | 22% |
Balance Sheet
Figures in Rs. Crores
| Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Sep 2025 | |
|---|---|---|---|---|---|---|
| Equity Capital | 3 | 3 | 3 | 4 | 4 | 6 |
| Reserves | 1 | 2 | 4 | 7 | 10 | 25 |
| 2 | 7 | 12 | 22 | 33 | 39 | |
| 4 | 5 | 17 | 3 | 2 | 2 | |
| Total Liabilities | 10 | 16 | 36 | 37 | 49 | 71 |
| 1 | 1 | 3 | 4 | 3 | 5 | |
| CWIP | 0 | 0 | 1 | 0 | 0 | 0 |
| Investments | 0 | 0 | 0 | 0 | 0 | 0 |
| 9 | 16 | 33 | 34 | 46 | 67 | |
| Total Assets | 10 | 16 | 36 | 37 | 49 | 71 |
Cash Flows
Figures in Rs. Crores
| Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|
| 1 | -4 | -2 | 4 | -8 | |
| -0 | -0 | -3 | -1 | 0 | |
| 0 | 4 | 5 | -4 | 8 | |
| Net Cash Flow | 0 | -0 | 0 | 0 | 0 |
Ratios
Figures in Rs. Crores
| Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|
| Debtor Days | 3 | 41 | 27 | 19 | 30 |
| Inventory Days | 1 | 32 | 26 | 39 | |
| Days Payable | 9 | 30 | 1 | 0 | |
| Cash Conversion Cycle | 3 | 33 | 30 | 45 | 68 |
| Working Capital Days | 13 | 11 | 9 | 14 | 20 |
| ROCE % | 23% | 24% | 22% | 15% |
Documents
Announcements
-
Press Release
26 Nov - H1 FY26 PAT ₹260.88L; Board approved UAE acquisition ₹4.00Cr via 4,00,000 shares at ₹100; silver WOS.
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Board Meeting Outcome for Outcome Of The Board Meeting Held On 25-11-2025
25 Nov - Board approved 95% acquisition of AJC FZE for up to Rs 4,00,00,000 via up to 4,00,000 shares (Nov 25, 2025)
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Board Meeting Intimation for Issuance Of Equity Shares Of The Company On A Preferential Basis
19 Nov - Board meeting 25-11-2025 to consider preferential equity issuance for foreign-entity acquisition via share-swap; trading window closed.
-
General Announcement - Board''s Comment On Non-Compliance Of Reg 33
11 Nov - Board noted fine for delayed FY2025 results filing; board met Nov 11, 2025, deemed non-wilful.
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Announcement under Regulation 30 (LODR)-Acquisition
11 Nov - Board approved H1 unaudited results (30 Sep 2025) and proposal to acquire UAE subsidiary AJC JEWEL MANUFACTURERS FZE.
Business Profile[1]
AJC Jewel is engaged in manufacturing and wholesale of gold jewellery, including plain, studded, and named varieties in 22K and 18K gold. The company caters to dealers, showrooms, corporates, and small jewellery retailers, offering B2B services with occasional B2C sales.