Grover Jewells Ltd
Incorporated in 2021, Grover Jewells Limited is engaged in the manufacturing and designing of a wide range of wholesale gold jewellery.[1]
- Market Cap ₹ 668 Cr.
- Current Price ₹ 460
- High / Low ₹ 526 / 91.4
- Stock P/E 31.6
- Book Value ₹ 47.9
- Dividend Yield 0.00 %
- ROCE 46.0 %
- ROE 49.1 %
- Face Value ₹ 10.0
Pros
- Company has a good return on equity (ROE) track record: 3 Years ROE 49.6%
Cons
- Stock is trading at 9.61 times its book value
- Though the company is reporting repeated profits, it is not paying out dividend
* 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 Nifty SME Emerge
Half Yearly Results
Figures in Rs. Crores
Profit & Loss
Figures in Rs. Crores
| Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|
| 255 | 258 | 461 | 824 | |
| 251 | 253 | 449 | 795 | |
| Operating Profit | 4 | 5 | 11 | 30 |
| OPM % | 1.6% | 1.8% | 2.5% | 3.6% |
| -0 | 0 | 0 | 1 | |
| Interest | 0 | 0 | 1 | 2 |
| Depreciation | 1 | 1 | 1 | 2 |
| Profit before tax | 3 | 3 | 9 | 26 |
| Tax % | 18% | 18% | 18% | 18% |
| 3 | 3 | 8 | 21 | |
| EPS in Rs | 10.17 | 10.43 | 28.59 | 14.59 |
| Dividend Payout % | 0% | 0% | 0% | 0% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | 48% |
| TTM: | 79% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | 98% |
| TTM: | 176% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | % |
| 1 Year: | % |
| Return on Equity | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | 50% |
| Last Year: | 49% |
Balance Sheet
Figures in Rs. Crores
| Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|
| Equity Capital | 3 | 3 | 3 | 15 |
| Reserves | 4 | 6 | 14 | 55 |
| 4 | 4 | 9 | 27 | |
| 2 | 1 | 4 | 7 | |
| Total Liabilities | 12 | 14 | 30 | 103 |
| 3 | 4 | 5 | 13 | |
| CWIP | 0 | 0 | 0 | 0 |
| Investments | 0 | 0 | 0 | 0 |
| 9 | 10 | 25 | 90 | |
| Total Assets | 12 | 14 | 30 | 103 |
Cash Flows
Figures in Rs. Crores
| Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|
| 2 | 3 | 0 | -31 | |
| -2 | -2 | -2 | -14 | |
| 0 | 0 | 4 | 47 | |
| Net Cash Flow | 0 | 0 | 2 | 2 |
| Free Cash Flow | -0 | 0 | -2 | -42 |
| CFO/OP | 55% | 69% | 18% | -91% |
Ratios
| Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|
| Debtor Days | 0 | 1 | 0 | 4 |
| Inventory Days | 12 | 11 | 16 | 31 |
| Days Payable | 2 | 0 | 2 | 1 |
| Cash Conversion Cycle | 10 | 12 | 15 | 34 |
| Working Capital Days | 9 | 11 | 11 | 27 |
| ROCE % | 32% | 52% | 46% |
Insights
In beta| Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|
| 22 CTS Gold Ornaments Capacity Utilization % |
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| 22 CTS Gold Ornaments Installed Capacity KGPA |
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| 22 CTS Gold Ornaments Production Volume KGPA |
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| Chain Roll / Chains Revenue Share % of total turnover |
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| Delhi Revenue Concentration % of revenue from operations |
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| Top 10 Customer Concentration % of revenue from operations |
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| Top 10 Supplier Concentration % of purchases |
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| Active Customers count |
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| Total Volume KG |
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| Number of Showrooms count |
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Extracted by Screener AI
Documents
Announcements
-
Quarterly Compliance Report on Corporate governance - within 21 days from the end of the quarter
- Company states corporate governance report not applicable for quarter ended September 30, 2026 under SME norms.
-
Certificate under SEBI (Depositories and Participants) Regulations, 2018
- Quarterly Regulation 74(5) certificate for quarter ended 30 September 2026 filed.
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Trading Window
- Trading window closed from October 1, 2026 until 48 hours after H1 FY2026 results.
-
Shareholders meeting
- 5th AGM resolutions passed on September 21, 2026; financials adopted, MD reappointed, secretarial auditor appointed.
-
Shareholders meeting
- AGM voting results dated September 22, 2026 show all three resolutions passed.
Concalls
-
Aug 2026PPT
Business Profile[1]
Grover Jewells Limited is a Delhi-based gold jewellery manufacturer with a strong B2B focus, operating across wholesale, retail and consumer segments. The company specializes in machine-made gold chains and casting jewellery, catering mainly to jewellers, retailers and bulk buyers, while gradually scaling up its B2C retail presence.