Pushpa Jewellers Ltd
Incorporated in 2009, Pushpa Jewellers Ltd is in the business as a wholesale gold jewellery manufacturer.[1]
- Market Cap ₹ 277 Cr.
- Current Price ₹ 114
- High / Low ₹ 149 / 81.2
- Stock P/E 10.3
- 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: | -16% |
| 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
-
Record Date
- 17th AGM on 25 Sep 2026; book closure 19-25 Sep and cut-off date 18 Sep 2026.
-
Copy of Newspaper Publication
- Public notice for 17th AGM on 25 September 2026 via VC/OAVM, published in newspapers.
-
Shareholders meeting
- 17th AGM on September 25, 2026; annual report for FY2025-26 shared.
-
Outcome of Board Meeting
- Board approved FY26 report; AGM on 25 Sept 2026; book closure 19-25 Sept; RPT up to Rs100 crore.
-
Monitoring Agency Report
- Brickwork Ratings reported no deviation in Q1 FY27 IPO proceeds use; Vijayawada showroom operations ongoing.
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.