AJC Jewel Manufacturers Ltd
Incorporated in 2018, AJC Jewel Manufacturers Ltd is engaged in the manufacturing of gold and diamond jewellery.[1]
- Market Cap ₹ 202 Cr.
- Current Price ₹ 334
- High / Low ₹ 433 / 71.2
- Stock P/E 20.3
- Book Value ₹ 59.8
- Dividend Yield 0.00 %
- ROCE 22.3 %
- ROE 31.4 %
- Face Value ₹ 10.0
Pros
- Company has delivered good profit growth of 56.3% CAGR over last 5 years
- Company has a good return on equity (ROE) track record: 3 Years ROE 29.1%
Cons
- Though the company is reporting repeated profits, it is not paying out dividend
- Debtor days have increased from 33.2 to 50.8 days.
* 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.
Quarterly Results
Standalone Figures in Rs. Crores / View Consolidated
Profit & Loss
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|---|
| 68 | 127 | 194 | 246 | 220 | 292 | 348 | |
| 67 | 125 | 190 | 241 | 215 | 278 | 331 | |
| Operating Profit | 1 | 2 | 4 | 5 | 6 | 14 | 17 |
| OPM % | 1.9% | 1.7% | 2.0% | 2.1% | 2.6% | 4.9% | 5.0% |
| 0 | 0 | 0 | 1 | 1 | 0 | 1 | |
| Interest | 0 | 0 | 1 | 2 | 2 | 3 | 4 |
| Depreciation | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit before tax | 1 | 2 | 3 | 4 | 4 | 11 | 14 |
| Tax % | 30% | 30% | 31% | 27% | 27% | 27% | |
| 1 | 1 | 2 | 3 | 3 | 8 | 10 | |
| EPS in Rs | 3.31 | 4.69 | 7.65 | 7.01 | 6.43 | 13.22 | 16.43 |
| Dividend Payout % | 0% | 0% | 0% | 0% | 0% | 0% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | 34% |
| 3 Years: | 15% |
| TTM: | 32% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | 56% |
| 3 Years: | 59% |
| TTM: | 178% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | % |
| 1 Year: | 273% |
| Return on Equity | |
|---|---|
| 10 Years: | % |
| 5 Years: | 29% |
| 3 Years: | 29% |
| Last Year: | 31% |
Balance Sheet
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|
| Equity Capital | 3 | 3 | 3 | 4 | 4 | 6 |
| Reserves | 1 | 2 | 4 | 7 | 10 | 30 |
| 2 | 7 | 12 | 22 | 33 | 44 | |
| 4 | 5 | 17 | 3 | 2 | 4 | |
| Total Liabilities | 10 | 16 | 36 | 37 | 49 | 84 |
| 1 | 1 | 3 | 4 | 3 | 5 | |
| CWIP | 0 | 0 | 1 | 0 | 0 | 0 |
| Investments | 0 | 0 | 0 | 0 | 0 | 1 |
| 9 | 16 | 33 | 34 | 46 | 78 | |
| Total Assets | 10 | 16 | 36 | 37 | 49 | 84 |
Cash Flows
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|
| 1 | -4 | -2 | 4 | -8 | -10 | |
| -0 | -0 | -3 | -1 | 0 | -11 | |
| 0 | 4 | 5 | -4 | 8 | 21 | |
| Net Cash Flow | 0 | -0 | 0 | 0 | 0 | 1 |
| Free Cash Flow | 0 | -4 | -5 | 4 | -8 | -12 |
| CFO/EBITDA Share of operating profit converting into cash: CFO (before tax) / Operating Profit | 52% | -181% | -33% | 84% | -141% | -67% |
Ratios
Standalone / View Consolidated
| Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|
| Debtor Days | 3 | 41 | 27 | 19 | 30 | 51 |
| Inventory Days | 1 | 32 | 26 | 39 | 32 | |
| Days Payable | 9 | 30 | 1 | 0 | 0 | |
| Cash Conversion Cycle | 3 | 33 | 30 | 45 | 68 | 83 |
| Working Capital Days | 13 | 11 | 9 | 14 | 20 | 27 |
| ROCE % | 23% | 24% | 22% | 15% | 22% |
Insights
In beta| Mar 2022 | Mar 2023 | Mar 2024 | Jun 2026 | |
|---|---|---|---|---|
| Actual production volume kg per annum |
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| Capacity utilization % |
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| Installed production capacity kg per annum |
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| Corporate clients clients |
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| Design library size designs |
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| Esthara retail stores stores |
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| In-house design team members |
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| Independent B2B retailers retailers |
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| Silver jewellery production capacity kg/day |
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Extracted by Screener AI
Documents
Announcements
-
Announcement Under Reg 30 LODR
- Subsidiary Esthara Jewels opened its 4th showroom in Kozhikode, Kerala on 08/10/2026.
-
Shareholder Meeting / Postal Ballot-Scrutinizer''s Report
- 8th AGM resolutions, including 80% stake acquisition via share swap, approved unanimously.
-
Announcement Under Regulation 30
- Chairman’s AGM speech highlights capacity expansion, 9K launch, silver jewellery production, and proposed Sharjah acquisition.
- Shareholder Meeting / Postal Ballot-Outcome of AGM
-
Closure of Trading Window
- Trading window closes from 1 October 2026 until 48 hours after board approves Q2 and half-year results.
Business Overview:[1]
AJCJML is a Kerala-based jewellery manufacturer specializing in high-quality, design-led gold products for the B2B retail market. The company offers a digital‑first platform serving jewellery retailers, corporates, and a large network of indpendent jewellers.