Goldkart Jewels Ltd
₹ 255
1.76%
23 Oct
3:31 p.m.
About
Incorporated in 2002, Goldkart Jewels Ltd is in the business of Gold and Silver ornaments[1]
Key Points
- Market Cap ₹ 428 Cr.
- Current Price ₹ 255
- High / Low ₹ 268 / 186
- Stock P/E 129
- Book Value ₹ 29.9
- Dividend Yield 0.00 %
- ROCE 10.6 %
- ROE 7.72 %
- Face Value ₹ 10.0
Pros
- Debtor days have improved from 63.7 to 27.5 days.
Cons
- Stock is trading at 8.38 times its book value
- Though the company is reporting repeated profits, it is not paying out dividend
- The company has delivered a poor sales growth of -2.68% over past five years.
- Company has a low return on equity of 4.87% over last 3 years.
* 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.
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Half Yearly Results
Figures in Rs. Crores
Profit & Loss
Figures in Rs. Crores
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 54.90 | 54.92 | 51.26 | 54.48 | 59.03 | 67.18 | 94.35 | 62.46 | 76.98 | 58.40 | 68.21 | 82.35 | |
| 53.48 | 53.62 | 50.21 | 53.51 | 57.41 | 65.11 | 92.72 | 60.86 | 75.32 | 56.26 | 65.04 | 76.23 | |
| Operating Profit | 1.42 | 1.30 | 1.05 | 0.97 | 1.62 | 2.07 | 1.63 | 1.60 | 1.66 | 2.14 | 3.17 | 6.12 |
| OPM % | 2.59% | 2.37% | 2.05% | 1.78% | 2.74% | 3.08% | 1.73% | 2.56% | 2.16% | 3.66% | 4.65% | 7.43% |
| 0.00 | 0.00 | 0.00 | 0.00 | -0.11 | 0.00 | 0.00 | 0.00 | 0.00 | 1.41 | 0.00 | 0.00 | |
| Interest | 1.25 | 1.19 | 0.99 | 0.84 | 1.16 | 1.53 | 1.45 | 1.40 | 1.49 | 1.76 | 1.79 | 1.46 |
| Depreciation | 0.03 | 0.03 | 0.04 | 0.04 | 0.04 | 0.04 | 0.04 | 0.02 | 0.04 | 0.03 | 0.06 | 0.07 |
| Profit before tax | 0.14 | 0.08 | 0.02 | 0.09 | 0.31 | 0.50 | 0.14 | 0.18 | 0.13 | 1.76 | 1.32 | 4.59 |
| Tax % | 35.71% | 25.00% | 50.00% | 33.33% | 41.94% | 28.00% | 50.00% | 27.78% | 30.77% | 14.20% | 26.52% | 27.67% |
| 0.09 | 0.05 | 0.02 | 0.06 | 0.19 | 0.37 | 0.08 | 0.13 | 0.09 | 1.51 | 0.97 | 3.32 | |
| EPS in Rs | 1.13 | 0.63 | 0.25 | 0.75 | 0.26 | 0.51 | 0.05 | 0.08 | 0.05 | 0.90 | 0.58 | 1.98 |
| Dividend Payout % | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | 4% |
| 5 Years: | -3% |
| 3 Years: | 2% |
| TTM: | 21% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | 52% |
| 5 Years: | 111% |
| 3 Years: | 233% |
| TTM: | 242% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | % |
| 5 Years: | 92% |
| 3 Years: | 115% |
| 1 Year: | 21% |
| Return on Equity | |
|---|---|
| 10 Years: | 3% |
| 5 Years: | 4% |
| 3 Years: | 5% |
| Last Year: | 8% |
Balance Sheet
Figures in Rs. Crores
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 0.80 | 0.80 | 0.80 | 0.80 | 7.29 | 7.29 | 16.79 | 16.79 | 16.79 | 16.79 | 16.79 | 16.79 |
| Reserves | 3.72 | 3.77 | 3.78 | 3.85 | 2.09 | 2.55 | 4.39 | 4.51 | 4.60 | 6.11 | 19.01 | 33.43 |
| 8.29 | 8.73 | 7.72 | 7.51 | 12.78 | 12.30 | 11.71 | 14.23 | 15.91 | 14.02 | 14.45 | 13.57 | |
| 0.22 | 0.04 | 0.24 | 0.05 | 0.15 | 0.17 | 0.21 | 1.82 | 5.05 | 0.28 | 0.39 | 1.35 | |
| Total Liabilities | 13.03 | 13.34 | 12.54 | 12.21 | 22.31 | 22.31 | 33.10 | 37.35 | 42.35 | 37.20 | 50.64 | 65.14 |
| 0.17 | 0.22 | 0.18 | 0.15 | 0.11 | 0.08 | 0.09 | 0.11 | 0.11 | 0.42 | 0.38 | 0.33 | |
| CWIP | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.73 |
| Investments | 0.10 | 0.10 | 0.10 | 0.10 | 0.10 | 0.10 | 0.10 | 0.10 | 0.10 | 0.99 | 12.91 | 24.02 |
| 12.76 | 13.02 | 12.26 | 11.96 | 22.10 | 22.13 | 32.91 | 37.14 | 42.14 | 35.79 | 37.35 | 40.06 | |
| Total Assets | 13.03 | 13.34 | 12.54 | 12.21 | 22.31 | 22.31 | 33.10 | 37.35 | 42.35 | 37.20 | 50.64 | 65.14 |
Cash Flows
Figures in Rs. Crores
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| -2.62 | 0.59 | 2.06 | 1.06 | -8.68 | 2.02 | -9.23 | -1.12 | 0.15 | 4.81 | 1.63 | 3.35 | |
| 0.00 | -0.07 | 0.00 | 0.00 | 0.00 | 0.00 | -0.05 | -0.03 | -0.05 | -1.23 | -0.02 | -0.95 | |
| 2.59 | -0.67 | -1.95 | -1.01 | 8.66 | -2.01 | 9.21 | 1.11 | 0.19 | -3.65 | -1.35 | -2.34 | |
| Net Cash Flow | -0.03 | -0.16 | 0.12 | 0.06 | -0.02 | 0.01 | -0.07 | -0.04 | 0.29 | -0.07 | 0.25 | 0.06 |
Ratios
Figures in Rs. Crores
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 15.56 | 12.10 | 9.54 | 0.00 | 35.86 | 37.87 | 70.37 | 110.51 | 118.63 | 122.56 | 40.94 | 27.52 |
| Inventory Days | 69.97 | 76.49 | 78.84 | 80.53 | 102.30 | 83.54 | 56.94 | 108.29 | 81.30 | 103.26 | 163.53 | 146.92 |
| Days Payable | 0.07 | 0.14 | 1.47 | 0.00 | 0.06 | 0.00 | 0.00 | 10.44 | 24.31 | 0.07 | 0.00 | 0.10 |
| Cash Conversion Cycle | 85.46 | 88.45 | 86.91 | 80.53 | 138.10 | 121.41 | 127.31 | 208.35 | 175.63 | 225.75 | 204.46 | 174.35 |
| Working Capital Days | 30.12 | 30.51 | 31.97 | 35.84 | 55.65 | 52.10 | 80.74 | 128.68 | 110.76 | 149.25 | 120.88 | 109.66 |
| ROCE % | 12.74% | 9.73% | 7.89% | 7.60% | 9.21% | 9.16% | 5.78% | 4.62% | 4.45% | 5.69% | 7.14% | 10.61% |
Documents
Announcements
-
Certificate under SEBI (Depositories and Participants) Regulations, 2018
14 October 2025 - GOLDKART JEWELS: Compliance certificate under Reg 74(5) for quarter ended 30 Sep 2025 from MUFG Intime.
-
Trading Window
6 October 2025 - Trading window closed from Oct 01, 2025 until 48 hours after H1 (30 Sep 2025) unaudited results declaration.
-
Shareholders meeting
30 September 2025 - AGM (29 Sep 2025): all 8 resolutions passed; borrowing/investment limits increased to ₹150 crore; MD reappointed; loans authorized.
-
Shareholders meeting
29 September 2025 - AGM on 29 Sep 2025 approves FY2024-25 accounts, reappointment, and authorises ₹150 crore borrowing/investments and related-party loans.
-
Copy of Newspaper Publication
5 September 2025 - Goldkart Jewels: 16th AGM notice and e-voting advertisement published 05 Sep 2025 in Western Times.
Business {# Overview:https://www.crisil.com/mnt/winshare/Ratings/RatingList/RatingDocs/GoldkartJewelsLimited_November%2029_%202024_RR_357409.html #}[1][2]
GWL, a part of the Laxmi Group, operates a jewellery showroom in Ahmedabad, retailing gold, silver, diamond, and platinum jewellery. Its product range includes a wide variety of ornaments such as gold chains, necklaces, bangles, ear studs, nose rings, waist belts, kasu malai, finger rings, and bracelets, catering to both traditional and modern tastes. The company also deals in branded jewellery alongside its in-house offerings.
Raw materials like gold, gemstones, and American diamonds are sourced from key markets in Ahmedabad, Surat, and Mumbai. Raw gold is typically procured from the bullion market and crafted into finished jewellery through in-house manufacturing or third-party job work arrangements.