Moksh Ornaments Ltd: Fundamental Analysis, Share Price Insights & Intrinsic Value (2024)

Share Price and Basic Stock Data

Last Updated: December 27, 2024, 10:36 pm

Market Cap	166 Cr.
Current Price	19.2
High / Low	25.8/11.8
Stock P/E	21.9
Book Value	7.17
Dividend Yield	0.00 %
ROCE	14.9 %
ROE	11.6 %
Face Value	2.00
PEG Ratio	4.33

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

Stock P/E Current Price Intrinsic Value

View Share Price Target for Moksh Ornaments Ltd

Competitors of Moksh Ornaments Ltd

Stock Name	Market Cap	Current Price	High / Low	Stock P/E	Book Value	Dividend Yield	ROCE	ROE	Face Value
Tribhovandas Bhimji Zaveri Ltd (TBZ)	1,591 Cr.	238	360/93.0	25.2	92.6	0.73 %	10.9 %	9.33 %	10.0
Moksh Ornaments Ltd	166 Cr.	19.2	25.8/11.8	21.9	7.17	0.00 %	14.9 %	11.6 %	2.00
Lypsa Gems & Jewellery Ltd	22.4 Cr.	7.48	12.6/5.13		10.8	0.00 %	60.6 %	68.4 %	10.0
Kanani Industries Ltd	53.4 Cr.	2.72	7.55/2.37	205	3.21	0.00 %	1.80 %	0.98 %	1.00
Titan Company Ltd	2,93,985 Cr.	3,309	3,887/3,056	90.6	110	0.33 %	22.7 %	32.9 %	1.00
Industry Average	74,799.50 Cr	850.07		76.86	62.13	0.18%	23.00%	25.45%	5.67

All Competitor Stocks of Moksh Ornaments Ltd

Quarterly Result

Month	Dec 2020	Mar 2021	Jun 2021	Sep 2021	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023
Sales	128.18	124.81	66.88	77.53	100.85	78.75	108.44	107.13	126.67	104.35	132.10	126.58	84.94
Expenses	126.04	124.05	65.61	74.74	99.11	77.54	106.35	104.99	124.24	100.57	129.50	123.44	81.01
Operating Profit	2.14	0.76	1.27	2.79	1.74	1.21	2.09	2.14	2.43	3.78	2.60	3.14	3.93
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 Income	1.41	1.03	0.44	0.34	0.13	0.08	0.09	0.10	0.08	0.10	0.14	0.43	0.19
Interest	0.98	0.81	0.22	0.31	0.21	0.18	0.40	0.41	0.48	0.89	0.66	1.11	2.09
Depreciation	0.04	0.04	0.03	0.04	0.04	0.04	0.02	0.04	0.04	0.04	0.04	0.04	0.04
Profit before tax	2.53	0.94	1.46	2.78	1.62	1.07	1.76	1.79	1.99	2.95	2.04	2.42	1.99
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 Profit	1.89	0.62	1.09	2.08	1.12	0.84	1.32	1.34	1.49	1.99	1.53	1.81	1.48
EPS in Rs	0.35	0.12	0.20	0.39	0.21	0.16	0.25	0.25	0.28	0.37	0.29	0.34	0.28

Last Updated: Unknown

Quarterly Chart

Profit & Loss - Annual Report

Last Updated: Unknown

Month	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	TTM
Sales	77	81	111	143	240	310	381	344	337	324	447	448
Expenses	76	79	109	140	233	301	372	338	328	317	436	435
Operating Profit	1	2	2	3	7	8	9	6	9	7	10	13
OPM %	1%	2%	2%	2%	3%	3%	2%	2%	3%	2%	2%	3%
Other Income	0	0	0	0	0	0	1	5	3	1	1	1
Interest	1	1	2	2	3	3	3	4	4	1	2	5
Depreciation	0	0	0	0	0	0	0	0	0	0	0	0
Profit before tax	0	0	0	0	5	6	7	7	8	7	8	9
Tax %	40%	32%	33%	32%	32%	33%	28%	25%	27%	26%	28%
Net Profit	0	0	0	0	3	4	5	5	6	5	6	7
EPS in Rs	0.12	0.52	0.18	0.06	1.20	0.73	0.89	1.00	1.05	0.96	1.14	1.28
Dividend Payout %	0%	0%	0%	0%	0%	0%	0%	0%	0%	10%	0%

Profit & Loss Yearly Chart

YoY Net Profit Growth

Year	2017-2018	2018-2019	2019-2020	2020-2021	2021-2022	2022-2023
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:	32%
3 Years:	-21%
1 Year:	56%

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

Month	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Sep 2024
Equity Capital	0.50	0.50	2	5	5	11	11	11	11	11	11	11	11
Reserves	0	0	1	3	6	15	20	25	30	34	40	47	51
Borrowings	13	18	15	13	36	34	50	60	36	4	28	49	51
Other Liabilities	1	2	8	23	5	2	5	8	3	1	1	1	5
Total Liabilities	14	20	27	44	52	62	85	103	79	50	80	107	118
Fixed Assets	0	0	2	2	2	2	2	0	0	0	0	0	0
CWIP	0	0	0	0	0	0	0	0	0	0	0	0	0
Investments	0	0	0	0	0	0	0	0	0	0	0	0	0
Other Assets	14	20	25	42	50	60	83	103	79	49	79	107	118
Total Assets	14	20	27	44	52	62	85	103	79	50	80	107	118

Reserves and Borrowings Chart

Cash Flow

Month	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
Cash from Operating Activity +	2	3	-8	-8	3	19	-123	26	-21	-18
Cash from Investing Activity +	-2	0	-0	0	-0	-11	77	-0	0	0
Cash from Financing Activity +	-2	-0	10	9	16	7	-221	-32	24	22
Net Cash Flow	-1	2	1	1	18	15	-267	-7	2	3

Free Cash Flow

Month	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023
Free Cash Flow	-12.00	-16.00	-13.00	-10.00	-29.00	-26.00	-41.00	-54.00	-27.00	3.00	-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

Month	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
Debtor Days	9	8	11	33	13	12	10	38	48	34	24	34
Inventory Days	56	78	75	72	60	53	46	30				47
Days Payable	3	7	25	55	3	0	3	4				0
Cash Conversion Cycle	62	79	61	50	70	65	54	63	48	34	24	80
Working Capital Days	60	77	55	76	63	63	53	61	72	52	60	80
ROCE %		9%	13%	14%	22%	16%	14%	12%	13%	13%	17%	15%

Financial Efficiency Indicators Chart

Share Holding Pattern

Month	Sep 2021	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024
Promoters	55.13%	55.13%	55.13%	55.13%	55.13%	55.13%	55.13%	55.13%	55.13%	55.13%	55.13%	55.13%
FIIs	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.13%	0.10%
DIIs	0.00%	0.00%	2.80%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Public	44.86%	44.86%	42.06%	44.87%	44.87%	44.87%	44.87%	44.87%	44.87%	44.87%	44.74%	44.76%
No. of Shareholders	3,076	3,856	23,490	25,464	25,815	27,398	26,495	26,612	33,468	33,532	39,491	37,296

Shareholding Pattern Chart

No. of Shareholders

This stock is not held by any mutual fund

ROCE Trend

EPS Trend

Key Financial Ratios

Month	Mar 24	Mar 23	Mar 22	Mar 21	Mar 20
FaceValue	2.00	2.00	2.00	10.00	10.00
Basic EPS (Rs.)	1.17	1.14	0.96	3.95	4.98
Diluted EPS (Rs.)	1.17	1.14	0.96	3.95	4.98
Cash EPS (Rs.)	1.20	1.17	0.98	3.97	5.00
Book Value[Excl.RevalReserv]/Share (Rs.)	10.67	9.50	8.36	37.46	33.51
Book Value[Incl.RevalReserv]/Share (Rs.)	10.67	9.50	8.36	37.46	33.51
Dividend / Share (Rs.)	0.00	0.00	0.02	0.00	0.00
Revenue From Operations / Share (Rs.)	83.71	83.23	60.38	313.79	320.49
PBDIT / Share (Rs.)	2.60	2.02	1.49	8.92	10.13
PBIT / Share (Rs.)	2.57	1.99	1.46	8.89	10.11
PBT / Share (Rs.)	1.59	1.58	1.29	5.38	6.65
Net Profit / Share (Rs.)	1.17	1.14	0.95	3.95	4.98
PBDIT Margin (%)	3.10	2.42	2.46	2.84	3.16
PBIT Margin (%)	3.06	2.39	2.41	2.83	3.15
PBT Margin (%)	1.89	1.89	2.13	1.71	2.07
Net Profit Margin (%)	1.39	1.37	1.58	1.25	1.55
Return on Networth / Equity (%)	10.92	12.02	11.44	10.53	14.86
Return on Capital Employeed (%)	23.27	19.60	15.99	23.74	30.17
Return On Assets (%)	5.83	7.71	10.33	5.49	5.17
Long Term Debt / Equity (X)	0.02	0.05	0.00	0.00	0.00
Total Debt / Equity (X)	0.86	0.54	0.00	0.88	1.66
Asset Turnover Ratio (%)	4.81	6.92	5.11	3.73	3.66
Current Ratio (X)	2.23	3.16	66.11	2.08	1.52
Quick Ratio (X)	1.09	1.42	45.61	1.44	1.12
Inventory Turnover Ratio (X)	0.00	0.00	15.54	0.00	0.00
Dividend Payout Ratio (NP) (%)	0.00	0.00	10.44	0.00	0.00
Dividend Payout Ratio (CP) (%)	0.00	0.00	10.12	0.00	0.00
Earning Retention Ratio (%)	0.00	0.00	89.56	0.00	0.00
Cash Earning Retention Ratio (%)	0.00	0.00	89.88	0.00	0.00
Interest Coverage Ratio (X)	2.65	4.93	8.80	2.55	2.93
Interest Coverage Ratio (Post Tax) (X)	2.19	3.79	6.66	2.13	2.44
Enterprise Value (Cr.)	132.23	70.09	76.30	79.47	50.50
EV / Net Operating Revenue (X)	0.29	0.15	0.23	0.23	0.14
EV / EBITDA (X)	9.48	6.47	9.55	8.30	4.64
MarketCap / Net Operating Revenue (X)	0.20	0.10	0.24	0.15	0.08
Retention Ratios (%)	0.00	0.00	89.55	0.00	0.00
Price / BV (X)	1.60	0.93	1.76	1.33	0.78
Price / Net Operating Revenue (X)	0.20	0.10	0.24	0.15	0.08
EarningsYield	0.06	0.12	0.06	0.07	0.18

Profitability Ratios (%)

Liquidity Ratios

Liquidity Ratios (%)

Interest Coverage Ratios (%)

Valuation Ratios

Fair Value

Fair Value of Moksh Ornaments Ltd as of December 28, 2024 is: 18.58

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 December 28, 2024, Moksh Ornaments Ltd is Overvalued by 3.23% compared to the current share price 19.20

Intrinsic Value of Moksh Ornaments Ltd as of December 28, 2024 is: 19.52

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 December 28, 2024, Moksh Ornaments Ltd is Undervalued by 1.67% compared to the current share price 19.20

Last 5 Year EPS CAGR: 5.06%

*Investments are subject to market risks

Strength and Weakness

Strength	Weakness
The company has shown consistent growth in sales (270.25 cr) and profit (4.75 cr) over the years.	The stock has a low average ROCE of 13.17%, which may not be favorable. The stock has a high average Working Capital Days of 64.33, which may not be favorable. The stock has a high average Cash Conversion Cycle of 57.50, which may not be favorable. 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: 21.9 (Industry average Stock P/E: 64.05)
  - 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.

INDUSTRY	ADDRESS	CONTACT
Gems, Jewellery & Precious Metals	B-405/1, B-405/2, 4th floor, Mumbai Maharashtra 400002	cs@mokshornaments.com http://www.mokshornaments.com

Management
Name	Position Held
Mr. Amrit Jawanmalji Shah	Managing Director & CFO
Mr. Jawanmal Moolchand Shah	Whole Time Director
Mrs. Sangeeta Amritlal Shah	Non Exe.Non Ind.Director
Ms. Nirali Haresh Shah	Independent Director
Mr. Mitwa Nayan Shah	Independent Director
Mr. Hardik Pravinbhai Makwana	Independent Director

FAQ

What is the latest intrinsic value of Moksh Ornaments Ltd?

The latest intrinsic value of Moksh Ornaments Ltd as on 28 December 2024 is ₹18.58, which is 3.23% lower than the current market price of ₹19.20. The stock has a market capitalization of 166 Cr. and recorded a high/low of 25.8/11.8 during the current fiscal year 2024-2025. As of Sep 2024, the company has reserves of ₹51 Cr and total liabilities of ₹118 Cr.

What is the Market Cap of Moksh Ornaments Ltd?

The Market Cap of Moksh Ornaments Ltd is 166 Cr..

What is the current Stock Price of Moksh Ornaments Ltd as on 28 December 2024?

The current stock price of Moksh Ornaments Ltd as on 28 December 2024 is 19.2.

What is the High / Low of Moksh Ornaments Ltd stocks in FY 2024-2025?

In FY 2024-2025, the High / Low of Moksh Ornaments Ltd stocks is 25.8/11.8.

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

The Stock P/E of Moksh Ornaments Ltd is 21.9.

What is the Book Value of Moksh Ornaments Ltd?

The Book Value of Moksh Ornaments Ltd is 7.17.

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.

Share Price and Basic Stock Data

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

Competitors of Moksh Ornaments Ltd

Quarterly Result

Quarterly Chart

Profit & Loss - Annual Report

Profit & Loss Yearly Chart

YoY Net Profit Growth

Growth

Balance Sheet

Reserves and Borrowings Chart

Cash Flow

Free Cash Flow

Free Cash Flow Chart

Financial Efficiency Indicators

Financial Efficiency Indicators Chart

Share Holding Pattern

Shareholding Pattern Chart

No. of Shareholders

ROCE Trend

EPS Trend

Key Financial Ratios

Profitability Ratios (%)

Liquidity Ratios

Liquidity Ratios (%)

Interest Coverage Ratios (%)

Valuation Ratios

Fair Value

Strength and Weakness

Stock Analysis

About the Company - Qualitative Analysis

FAQ

What is the latest intrinsic value of Moksh Ornaments Ltd?

What is the Market Cap of Moksh Ornaments Ltd?

What is the current Stock Price of Moksh Ornaments Ltd as on 28 December 2024?

What is the High / Low of Moksh Ornaments Ltd stocks in FY 2024-2025?

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

What is the Book Value of Moksh Ornaments Ltd?

What is the Dividend Yield of Moksh Ornaments Ltd?

What is the ROCE of Moksh Ornaments Ltd?

What is the ROE of Moksh Ornaments Ltd?

What is the Face Value of Moksh Ornaments Ltd?

About the Author

Getaka