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Last Updated on: 25 November, 2024
Author: Getaka|Social: Getaka Financial Services X (Earlier Twitter) Profile Getaka Financial Services LinkedIn Logo

Moksh Ornaments Ltd: Intrinsic Value and Fundamental Analysis

Share Price and Basic Stock Data

Last Updated: November 22, 2024, 9:53 pm

Market Cap 95.0 Cr.
Current Price 17.7
High / Low29.4/13.5
Stock P/E12.6
Book Value 11.5
Dividend Yield0.00 %
ROCE14.9 %
ROE11.6 %
Face Value 2.00
PEG Ratio2.49

Stock P/E, Current Price, and Intrinsic Value Over Time

View Share Price Target for Moksh Ornaments Ltd

Competitors of Moksh Ornaments Ltd

Stock NameMarket CapCurrent PriceHigh / LowStock P/EBook ValueDividend YieldROCEROEFace Value
Tribhovandas Bhimji Zaveri Ltd (TBZ) 1,508 Cr. 226360/93.023.9 92.60.77 %10.9 %9.33 % 10.0
Moksh Ornaments Ltd 95.0 Cr. 17.729.4/13.512.6 11.50.00 %14.9 %11.6 % 2.00
Lypsa Gems & Jewellery Ltd 20.3 Cr. 6.9012.6/4.64 10.80.00 %60.6 %68.4 % 10.0
Kanani Industries Ltd 51.4 Cr. 2.607.55/2.50198 3.210.00 %1.80 %0.98 % 1.00
Titan Company Ltd 2,93,742 Cr. 3,3093,887/3,05690.6 1100.33 %22.7 %32.9 % 1.00
Industry Average99,574.67 Cr849.7073.3862.850.18%23.00%25.45%5.67

All Competitor Stocks of Moksh Ornaments Ltd

Quarterly Result

MonthDec 2020Mar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023
Sales128.18124.8166.8877.53100.8578.75108.44107.13126.67104.35132.10126.5884.94
Expenses126.04124.0565.6174.7499.1177.54106.35104.99124.24100.57129.50123.4481.01
Operating Profit2.140.761.272.791.741.212.092.142.433.782.603.143.93
OPM %1.67%0.61%1.90%3.60%1.73%1.54%1.93%2.00%1.92%3.62%1.97%2.48%4.63%
Other Income1.411.030.440.340.130.080.090.100.080.100.140.430.19
Interest0.980.810.220.310.210.180.400.410.480.890.661.112.09
Depreciation0.040.040.030.040.040.040.020.040.040.040.040.040.04
Profit before tax2.530.941.462.781.621.071.761.791.992.952.042.421.99
Tax %25.30%34.04%25.34%25.18%30.25%20.56%25.00%25.14%25.13%32.54%25.00%25.21%25.13%
Net Profit1.890.621.092.081.120.841.321.341.491.991.531.811.48
EPS in Rs0.350.120.200.390.210.160.250.250.280.370.290.340.28

Last Updated: Unknown

Quarterly Chart

Profit & Loss - Annual Report

Last Updated: Unknown

MonthMar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023TTM
Sales7781111143240310381344337324447448
Expenses7679109140233301372338328317436435
Operating Profit12237896971013
OPM %1%2%2%2%3%3%2%2%3%2%2%3%
Other Income000000153111
Interest112233344125
Depreciation000000000000
Profit before tax000056778789
Tax %40%32%33%32%32%33%28%25%27%26%28%
Net Profit000034556567
EPS in Rs0.120.520.180.061.200.730.891.001.050.961.141.28
Dividend Payout %0%0%0%0%0%0%0%0%0%10%0%

Profit & Loss Yearly Chart

YoY Net Profit Growth

Year2017-20182018-20192019-20202020-20212021-20222022-2023
YoY Net Profit Growth (%)33.33%25.00%0.00%20.00%-16.67%20.00%
Change in YoY Net Profit Growth (%)0.00%-8.33%-25.00%20.00%-36.67%36.67%

Moksh Ornaments Ltd has shown an inconsistent trend in YoY Net Profit Growth (%) in the last 6 years from 2017-2018 to 2022-2023.

Growth

Compounded Sales Growth
10 Years:19%
5 Years:3%
3 Years:10%
TTM:-1%
Compounded Profit Growth
10 Years:47%
5 Years:5%
3 Years:3%
TTM:11%
Stock Price CAGR
10 Years:%
5 Years:30%
3 Years:-23%
1 Year:22%
Return on Equity
10 Years:15%
5 Years:13%
3 Years:12%
Last Year:12%

Last Updated: Unknown

Balance Sheet

Last Updated: November 14, 2024, 8:30 pm

MonthMar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Sep 2024
Equity Capital0.500.502551111111111111111
Reserves001361520253034404751
Borrowings1318151336345060364284951
Other Liabilities12823525831115
Total Liabilities14202744526285103795080107118
Fixed Assets0022222000000
CWIP0000000000000
Investments0000000000000
Other Assets14202542506083103794979107118
Total Assets14202744526285103795080107118

Reserves and Borrowings Chart

Cash Flow

MonthMar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024
Cash from Operating Activity +23-8-8319-12326-21-18
Cash from Investing Activity +-20-00-0-1177-000
Cash from Financing Activity +-2-0109167-221-322422
Net Cash Flow-12111815-267-723

Free Cash Flow

MonthMar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023
Free Cash Flow-12.00-16.00-13.00-10.00-29.00-26.00-41.00-54.00-27.003.00-18.00

Free Cash Flow = Income Generated from Operational Activities - Borrowings - Capital Work in Progress (CWIP)

Consistent positive free cash flow is crucial for businesses as it indicates their ability to generate cash from their core operations. It provides financial flexibility, allowing companies to invest in growth opportunities, pay dividends to shareholders, reduce debt, and weather economic downturns more effectively.

Free Cash Flow Chart

Financial Efficiency Indicators

MonthMar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024
Debtor Days9811331312103848342434
Inventory Days567875726053463047
Days Payable37255530340
Cash Conversion Cycle627961507065546348342480
Working Capital Days607755766363536172526080
ROCE %9%13%14%22%16%14%12%13%13%17%15%

Financial Efficiency Indicators Chart

Share Holding Pattern

MonthSep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024
Promoters55.13%55.13%55.13%55.13%55.13%55.13%55.13%55.13%55.13%55.13%55.13%55.13%
FIIs0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.13%0.10%
DIIs0.00%0.00%2.80%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%
Public44.86%44.86%42.06%44.87%44.87%44.87%44.87%44.87%44.87%44.87%44.74%44.76%
No. of Shareholders3,0763,85623,49025,46425,81527,39826,49526,61233,46833,53239,49137,296

Shareholding Pattern Chart

No. of Shareholders

This stock is not held by any mutual fund

ROCE Trend

EPS Trend

Key Financial Ratios

MonthMar 24Mar 23Mar 22Mar 21Mar 20
FaceValue2.002.002.0010.0010.00
Basic EPS (Rs.)1.171.140.963.954.98
Diluted EPS (Rs.)1.171.140.963.954.98
Cash EPS (Rs.)1.201.170.983.975.00
Book Value[Excl.RevalReserv]/Share (Rs.)10.679.508.3637.4633.51
Book Value[Incl.RevalReserv]/Share (Rs.)10.679.508.3637.4633.51
Dividend / Share (Rs.)0.000.000.020.000.00
Revenue From Operations / Share (Rs.)83.7183.2360.38313.79320.49
PBDIT / Share (Rs.)2.602.021.498.9210.13
PBIT / Share (Rs.)2.571.991.468.8910.11
PBT / Share (Rs.)1.591.581.295.386.65
Net Profit / Share (Rs.)1.171.140.953.954.98
PBDIT Margin (%)3.102.422.462.843.16
PBIT Margin (%)3.062.392.412.833.15
PBT Margin (%)1.891.892.131.712.07
Net Profit Margin (%)1.391.371.581.251.55
Return on Networth / Equity (%)10.9212.0211.4410.5314.86
Return on Capital Employeed (%)23.2719.6015.9923.7430.17
Return On Assets (%)5.837.7110.335.495.17
Long Term Debt / Equity (X)0.020.050.000.000.00
Total Debt / Equity (X)0.860.540.000.881.66
Asset Turnover Ratio (%)4.816.925.113.733.66
Current Ratio (X)2.233.1666.112.081.52
Quick Ratio (X)1.091.4245.611.441.12
Inventory Turnover Ratio (X)0.000.0015.540.000.00
Dividend Payout Ratio (NP) (%)0.000.0010.440.000.00
Dividend Payout Ratio (CP) (%)0.000.0010.120.000.00
Earning Retention Ratio (%)0.000.0089.560.000.00
Cash Earning Retention Ratio (%)0.000.0089.880.000.00
Interest Coverage Ratio (X)2.654.938.802.552.93
Interest Coverage Ratio (Post Tax) (X)2.193.796.662.132.44
Enterprise Value (Cr.)132.2370.0976.3079.4750.50
EV / Net Operating Revenue (X)0.290.150.230.230.14
EV / EBITDA (X)9.486.479.558.304.64
MarketCap / Net Operating Revenue (X)0.200.100.240.150.08
Retention Ratios (%)0.000.0089.550.000.00
Price / BV (X)1.600.931.761.330.78
Price / Net Operating Revenue (X)0.200.100.240.150.08
EarningsYield0.060.120.060.070.18

Profitability Ratios (%)

Liquidity Ratios

Liquidity Ratios (%)

Interest Coverage Ratios (%)

Valuation Ratios

Fair Value

Fair Value of Moksh Ornaments Ltd as of November 25, 2024 is: 17.14

Calculation basis:

  • Fair value = P/E Ratio * (Return on Equity / 100) * Book Value * (1 + Dividend Yield / 100)
  • P/E Ratio (Price-to-Earnings Ratio): Represents the price of the stock relative to its earnings per share. A higher P/E ratio indicates that investors are willing to pay a higher price for the stock.
  • Return on Equity (ROE): Measures a company's profitability relative to its shareholder equity. It showcases the company's ability to generate profits using the investment made by its shareholders, offering valuable insight into its operational efficiency and financial performance.
  • Book Value: Represents the net asset value of the company per share. It is calculated as the total assets minus intangible assets and liabilities, divided by the number of outstanding shares.
  • Dividend Yield: The ratio of the annual dividend per share to the current market price per share. It offers valuable insights into the profitability of an investment through dividends.

This formula allows us to gauge the fair value of the stock by analyzing its fundamental indicators.

As of November 25, 2024, Moksh Ornaments Ltd is Overvalued by 3.16% compared to the current share price 17.70

Intrinsic Value of Moksh Ornaments Ltd as of November 25, 2024 is: 18.01

Calculation basis:

  • Intrinsic value = P/E Ratio * (Return on Equity / 100) * Book Value * (1 + Dividend Yield / 100) * (1 + EPS CAGR for Last 5 Years)
  • P/E Ratio (Price-to-Earnings Ratio): Represents the price of the stock relative to its earnings per share. A higher P/E ratio indicates that investors are willing to pay a higher price for the stock.
  • Return on Equity (ROE): Measures a company's profitability relative to its shareholder equity. It showcases the company's ability to generate profits using the investment made by its shareholders, offering valuable insight into its operational efficiency and financial performance.
  • Book Value: Represents the net asset value of the company per share. It is calculated as the total assets minus intangible assets and liabilities, divided by the number of outstanding shares.
  • Dividend Yield: The ratio of the annual dividend per share to the current market price per share. It offers valuable insights into the profitability of an investment through dividends.
  • EPS CAGR (Compound Annual Growth Rate): Represents the geometric mean growth rate of earnings per share over the last 5 years. It provides insight into the historical growth trajectory of the company's earnings.

This formula allows us to gauge the intrinsic value of the stock by analyzing its fundamental indicators along with EPS growth.

As of November 25, 2024, Moksh Ornaments Ltd is Undervalued by 1.75% compared to the current share price 17.70

Last 5 Year EPS CAGR: 5.06%

*Investments are subject to market risks

Strength and Weakness

StrengthWeakness
  1. The company has shown consistent growth in sales (270.25 cr) and profit (4.75 cr) over the years.
  1. The stock has a low average ROCE of 13.17%, which may not be favorable.
  2. The stock has a high average Working Capital Days of 64.33, which may not be favorable.
  3. The stock has a high average Cash Conversion Cycle of 57.50, which may not be favorable.
  4. The company has higher borrowings (31.31) compared to reserves (20.92), which may suggest financial risk.

Stock Analysis

  • Considering all of the following key financial indicators, prospective investors are encouraged to conduct thorough research and seek professional guidance before considering any investment in Moksh Ornaments Ltd:
    1. Net Profit Margin: 1.39%
      • Net Profit Margin: This metric indicates the percentage of profit a company makes from its total revenue. A higher net profit margin is generally desirable as it reflects better profitability.
    2. ROCE: 23.27% (Industry Average ROCE: 23%)
      • ROCE (Return on Capital Employed): ROCE measures a company's profitability and the efficiency with which its capital is employed. A higher ROCE indicates efficient use of capital.
    3. ROE%: 10.92% (Industry Average ROE: 25.45%)
      • ROE (Return on Equity): ROE measures a company's profitability relative to shareholders' equity. A higher ROE indicates efficient use of shareholders' funds.
    4. Interest Coverage Ratio (Post Tax): 2.19
      • Interest Coverage Ratio: The interest coverage ratio measures a company's ability to cover its interest payments on outstanding debt. A ratio greater than 2 is generally considered healthy as it indicates the company can meet its interest obligations comfortably.
    5. Quick Ratio: 1.09
      • Quick Ratio: The quick ratio assesses a company's ability to cover its short-term liabilities with its most liquid assets. A ratio higher than 1 suggests the company can meet its short-term obligations without relying heavily on inventory.
    6. Stock P/E: 12.6 (Industry average Stock P/E: 73.38)
      • Stock P/E (Price-to-Earnings) Ratio: The P/E ratio compares a company's current share price to its earnings per share. A lower P/E ratio relative to industry peers or historical values may indicate that the stock is undervalued.
    7. Total Debt / Equity: 0.86
      • Total Debt / Equity: This ratio measures a company's financial leverage by comparing its total debt to its total equity. A lower ratio indicates lower financial risk and greater financial stability.
    The current analysis is available for review. It's important to conduct thorough research and consider consulting with financial professionals before making any investment decisions.
    Stock Rating:

About the Company - Qualitative Analysis

Moksh Ornaments Ltd. is a Public Limited Listed company incorporated on 19/07/2012 and has its registered office in the State of Maharashtra, India. Company’s Corporate Identification Number(CIN) is L36996MH2012PLC233562 and registration number is 233562. Currently Company is involved in the business activities of Wholesale of precious metals and jewellery. Company’s Total Operating Revenue is Rs. 324.03 Cr. and Equity Capital is Rs. 10.73 Cr. for the Year ended 31/03/2022.
INDUSTRYADDRESSCONTACT
Gems, Jewellery & Precious MetalsB-405/1, B-405/2, 4th floor, Mumbai Maharashtra 400002cs@mokshornaments.com
http://www.mokshornaments.com
Management
NamePosition Held
Mr. Amrit Jawanmalji ShahManaging Director & CFO
Mr. Jawanmal Moolchand ShahWhole Time Director
Mrs. Sangeeta Amritlal ShahNon Exe.Non Ind.Director
Ms. Nirali Haresh ShahIndependent Director
Mr. Mitwa Nayan ShahIndependent Director
Mr. Hardik Pravinbhai MakwanaIndependent Director

FAQ

What is the latest intrinsic value of Moksh Ornaments Ltd?

The latest intrinsic value of Moksh Ornaments Ltd as on 24 November 2024 is ₹17.14, which is 3.16% lower than the current market price of ₹17.70.

What is the Market Cap of Moksh Ornaments Ltd?

The Market Cap of Moksh Ornaments Ltd is 95.0 Cr..

What is the current Stock Price of Moksh Ornaments Ltd as on 24 November 2024?

The current stock price of Moksh Ornaments Ltd as on 24 November 2024 is 17.7.

What is the High / Low of Moksh Ornaments Ltd stocks in FY 2024?

In FY 2024, the High / Low of Moksh Ornaments Ltd stocks is 29.4/13.5.

What is the Stock P/E of Moksh Ornaments Ltd?

The Stock P/E of Moksh Ornaments Ltd is 12.6.

What is the Book Value of Moksh Ornaments Ltd?

The Book Value of Moksh Ornaments Ltd is 11.5.

What is the Dividend Yield of Moksh Ornaments Ltd?

The Dividend Yield of Moksh Ornaments Ltd is 0.00 %.

What is the ROCE of Moksh Ornaments Ltd?

The ROCE of Moksh Ornaments Ltd is 14.9 %.

What is the ROE of Moksh Ornaments Ltd?

The ROE of Moksh Ornaments Ltd is 11.6 %.

What is the Face Value of Moksh Ornaments Ltd?

The Face Value of Moksh Ornaments Ltd is 2.00.

About the Author

Author Avatar
Getaka

Getaka, CFA, a financial analyst with 15 years of experience in the industry. Getaka holds an MBA degree and the Chartered Financial Analyst designation, demonstrating his profound understanding of financial analysis and investment management. Throughout his career, he has conducted numerous financial analyses and due diligence processes for companies in the industry, and has a strong track record of identifying key trends and opportunities. He leverages his expertise to deliver a thorough financial analysis of a company, encompassing its financial performance, key ratios, future prospects, and risks. Getaka is committed to providing accurate, reliable, and trustworthy information to help readers make informed decisions about their finances and investments.

Disclaimer: This article is for informational purposes only and should not be construed as financial advice. The author is not a SEBI registered financial advisor and does not have any vested interest in Moksh Ornaments Ltd. Investors are advised to conduct their own due diligence and consult with a financial professional before making any investment decisions. The information provided in this article is based on publicly available data and the author's analysis, but it may not be comprehensive or up-to-date. The author and getaka.co.in are not responsible for any errors or omissions in the content. This article is not intended to promote any particular investment strategy or recommendation, and readers should consult with their own financial advisors before making any investment decisions. Data Source: NSE