Pushpa Jewellers Ltd
Incorporated in 2009, Pushpa Jewellers Ltd is in the business as a wholesale gold jewellery manufacturer.[1]
- Market Cap ₹ 243 Cr.
- Current Price ₹ 100
- High / Low ₹ 149 / 81.2
- Stock P/E 9.05
- Book Value ₹ 63.8
- Dividend Yield 0.00 %
- ROCE 30.4 %
- ROE 25.2 %
- Face Value ₹ 10.0
Pros
- Company has delivered good profit growth of 72.2% CAGR over last 5 years
- Company has a good return on equity (ROE) track record: 3 Years ROE 34.3%
Cons
- Though the company is reporting repeated profits, it is not paying out dividend
- Working capital days have increased from 72.3 days to 117 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.
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 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|
| 49 | 108 | 166 | 255 | 281 | 418 | |
| 46 | 99 | 153 | 235 | 249 | 380 | |
| Operating Profit | 3 | 9 | 13 | 20 | 32 | 38 |
| OPM % | 6% | 8% | 8% | 8% | 11% | 9% |
| 0 | 0 | 0 | 0 | 0 | -0 | |
| Interest | 0 | 0 | 1 | 1 | 2 | 2 |
| Depreciation | 0 | 0 | 0 | 1 | 1 | 1 |
| Profit before tax | 2 | 9 | 12 | 18 | 30 | 35 |
| Tax % | 28% | 29% | 32% | 25% | 25% | 26% |
| 2 | 6 | 8 | 14 | 22 | 26 | |
| EPS in Rs | 76.03 | 265.03 | 349.66 | 583.33 | 11.82 | 10.69 |
| Dividend Payout % | 0% | 0% | 0% | 0% | 0% | 0% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | 53% |
| 3 Years: | 36% |
| TTM: | 49% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | 72% |
| 3 Years: | 49% |
| TTM: | 20% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | % |
| 1 Year: | -29% |
| Return on Equity | |
|---|---|
| 10 Years: | % |
| 5 Years: | 36% |
| 3 Years: | 34% |
| Last Year: | 25% |
Balance Sheet
Figures in Rs. Crores
| Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|
| Equity Capital | 0.23 | 0.23 | 0.23 | 0.23 | 19 | 24 |
| Reserves | 8 | 14 | 22 | 36 | 39 | 130 |
| 2 | 4 | 15 | 8 | 22 | 18 | |
| 1 | 4 | 6 | 7 | 11 | 5 | |
| Total Liabilities | 12 | 22 | 43 | 51 | 91 | 178 |
| 1 | 1 | 10 | 11 | 16 | 26 | |
| CWIP | 0 | 0 | 0 | 0 | 0 | 0 |
| Investments | 0 | 0 | 0 | 0 | 0 | 0 |
| 10 | 20 | 33 | 41 | 75 | 151 | |
| Total Assets | 12 | 22 | 43 | 51 | 91 | 178 |
Cash Flows
Figures in Rs. Crores
| Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|
| 1 | -0 | 0 | 9 | 0 | -51 | |
| -1 | -0 | -11 | 0 | -10 | -10 | |
| 1 | 0 | 10 | -7 | 12 | 65 | |
| Net Cash Flow | 1 | 0 | -0 | 2 | 2 | 3 |
| Free Cash Flow | -0 | -0 | -9 | 8 | -6 | -63 |
| CFO/OP | 46% | 14% | 19% | 72% | 23% | -88% |
Ratios
Figures in Rs. Crores
| Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|
| Debtor Days | 5 | 11 | 13 | 7 | 26 | 31 |
| Inventory Days | 72 | 57 | 60 | 45 | 54 | 91 |
| Days Payable | 2 | 1 | 4 | 2 | 3 | 1 |
| Cash Conversion Cycle | 76 | 68 | 69 | 50 | 77 | 120 |
| Working Capital Days | 68 | 46 | 35 | 41 | 59 | 117 |
| ROCE % | 63% | 45% | 48% | 50% | 30% |
Insights
In beta| Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|
| Average Order Value INR per order |
|
|||
| Necklace Share of Revenue % of sales |
||||
| Southern States Revenue Share % of sales |
||||
| Top 10 Customer Concentration % of sales |
||||
| Volume of Gold Jewellery Sold Kgs |
||||
| Number of Branch Offices offices |
||||
| Number of Permanent Employees employees |
||||
Extracted by Screener AI
Documents
Announcements
-
Structural Digital Database
3 July 2026 - Pushpa Jewellers submitted SDD compliance certificate for 1 April 2026 to 3 July 2026.
-
Outcome of Board Meeting
26 June 2026 - Board approved remuneration revisions, appointed Mohit Dujari as independent director, and reconstituted NRC.
-
Structural Digital Database
25 June 2026 - Submitted SDD compliance certificate for FY ended 31 March 2026; no material non-compliance observed.
-
Outcome of Board Meeting
30 May 2026 - Board approved FY26 audited standalone results; profit 2,588.50 lakh, preferential warrant issue rejected.
-
Disclosure under SEBI Takeover Regulations
29 May 2026 - Pushpa Jewellers Limited has Submitted to the Exchange a copy of Disclosure under Regulation 31(4) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, …
Concalls
-
Feb 2026TranscriptAI SummaryPPT
Business Overview:[1][2]
PJL is a wholesale B2B jewellery manufacturer operating across India. It produces and sells a wide range of traditional and modern gold jewellery—such as necklaces, bracelets, earrings, and rings—using materials like emerald, jade, pearl, and Meena. The company sells in bulk to retailers, wholesalers, and other businesses, not directly to individual consumers.