Gitanjali Gems Ltd

Gitanjali Gems Ltd. is engaged in the trading, manufacturing, import and export of diamond cutting and polishing, diamond studded jewelry and plain gold jewelry.

Pros:
Stock is trading at 0.00 times its book value
Stock is providing a good dividend yield of 76.22%.
Cons:
Company has low interest coverage ratio.
Promoter's stake has decreased
The company has delivered a poor growth of 5.80% over past five years.
Promoter holding is low: 27.76%
Tax rate seems low
Company has a low return on equity of 2.73% for last 3 years.
Contingent liabilities of Rs.750.89 Cr.
Promoters have pledged 78.56% of their holding
Earnings include an other income of Rs.319.25 Cr.
** Remarks:
Some businesses are provided tax benefits to encourage their development

Peer Comparison Sector: Diamond, Gems and Jewellery // Industry: Diamond Cutting / Jewellery

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Quarterly Results Consolidated Figures in Rs. Crores / View Standalone

Dec 2014 Mar 2015 Jun 2015 Sep 2015 Dec 2015 Mar 2016 Jun 2016 Sep 2016 Dec 2016 Mar 2017 Jun 2017 Sep 2017
3,450 3,487 2,845 3,457 3,400 4,283 3,710 3,965 3,353 5,545 5,611 3,789
3,229 3,208 2,716 3,244 3,168 4,104 3,571 3,763 3,125 5,442 5,431 3,666
Operating Profit 220 280 129 213 232 179 140 201 228 103 180 123
OPM % 6% 8% 5% 6% 7% 4% 4% 5% 7% 2% 3% 3%
Other Income 155 -101 109 21 -3 30 75 33 27 123 55 113
Interest 270 204 208 189 137 197 146 171 178 198 160 140
Depreciation 9 20 19 20 18 24 17 18 20 20 8 27
Profit before tax 96 -45 12 25 73 -12 51 45 57 8 68 69
Tax % -1% 16% -25% -20% 3% 19% -12% -0% -3% 32% -2% 8%
Net Profit 96 -29 20 32 75 -23 57 46 58 6 69 64
Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes

Profit & Loss Consolidated Figures in Rs. Crores / View Standalone

Mar 2006 Mar 2007 Mar 2008 Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 TTM
2,403 3,467 4,832 5,089 6,527 9,377 12,498 16,418 12,436 11,481 13,984 16,571 18,297
2,286 3,293 4,561 4,762 6,043 8,787 11,622 15,225 11,573 10,401 13,208 15,872 17,664
Operating Profit 117 174 271 327 484 590 876 1,194 863 1,080 776 699 633
OPM % 5% 5% 6% 6% 7% 6% 7% 7% 7% 9% 6% 4% 3%
Other Income 1 12 6 3 3 104 83 10 9 29 175 259 319
Interest 53 63 62 137 218 254 406 546 797 973 772 721 676
Depreciation 3 7 20 34 45 56 29 37 38 47 81 75 74
Profit before tax 63 116 195 158 225 383 524 621 36 88 98 161 202
Tax % 15% 12% 11% 2% 10% 7% 6% 4% 1% -1% -8% -3%
Net Profit 51 92 161 151 200 355 487 592 34 96 104 168 197
EPS in Rs 8.47 15.28 18.59 17.40 23.41 41.32 52.99 63.76 3.64 9.73 10.12 13.54
Dividend Payout % 12% 10% 10% 10% 8% 7% 6% 5% 0% 0% 5% 6%
* Sales is net of excise duty and discounts
Compounded Sales Growth
10 Years:16.93%
5 Years:5.80%
3 Years:10.04%
TTM:19.14%
Compounded Profit Growth
10 Years:6.19%
5 Years:-19.11%
3 Years:69.92%
TTM:27.02%
Return on Equity
10 Years:7.20%
5 Years:4.59%
3 Years:2.73%
Last Year:2.60%

Balance Sheet Consolidated Figures in Rs. Crores / View Standalone

Mar 2006 Mar 2007 Mar 2008 Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Sep 2017
59 104 85 85 84 85 91 92 92 98 102 119 119
Reserves 710 769 1,768 1,961 2,112 2,445 3,009 3,676 3,852 4,018 6,223 6,444 6,603
Borrowings 697 1,459 1,634 2,047 2,595 3,127 3,944 5,239 8,484 8,819 8,361 8,254 7,185
620 1,122 1,874 1,814 1,644 2,451 3,648 4,914 2,267 3,791 6,448 8,870 9,969
Total Liabilities 2,087 3,409 5,361 5,907 6,436 8,108 10,691 13,921 14,696 16,727 21,135 23,686 23,876
22 133 267 307 309 275 243 283 327 363 2,520 2,528 2,288
CWIP 12 44 60 53 63 95 96 88 81 81 81 40 40
Investments 10 23 14 33 36 43 58 102 86 84 49 62 78
2,042 3,209 5,020 5,514 6,029 7,695 10,294 13,448 14,202 16,198 18,485 21,056 21,470
Total Assets 2,087 3,409 5,361 5,907 6,436 8,108 10,691 13,921 14,696 16,727 21,135 23,686 23,876

Cash Flows Consolidated Figures in Rs. Crores / View Standalone

Mar 2006 Mar 2007 Mar 2008 Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017
-112 102 -636 137 526 368 -16 -2,966 463 1,338
-132 -206 -133 -24 -58 -7 -107 -34 -90 -31
450 609 -57 -172 -267 -149 441 2,385 -468 -1,330
Net Cash Flow 206 506 -826 -59 201 212 318 -615 -95 -23

Ratios Consolidated / View Standalone

Mar 2006 Mar 2007 Mar 2008 Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017
ROCE % 9% 9% 8% 10% 13% 15% 15% 8% 9% 6% 6%
Debtor Days 188 160 172 198 181 156 157 160 278 315 301 283
Inventory Turnover 6.65 4.79 3.17 3.22 3.77 3.79 4.08 3.17 2.64 2.56 2.57