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Last Updated: April 2, 2026, 3:21 am
Author: Getaka|Social: XLinkedIn

Moksh Ornaments Ltd: Intrinsic Value & Share Price Analysis

Fair Value

₹9.88Fairly Valued by 9.05%vs CMP ₹9.06

P/E (8.6) × ROE (10.0%) × BV (₹14.10) × DY (2.00%)

₹15.06Undervalued by 66.23%vs CMP ₹9.06
MoS: +39.8% (Strong)Confidence: 63/100 (Moderate)Models: 8 Under, 1 Over
ModelCategoryValueWeightSignal
PE-ROEEarnings₹11.1522%Under (+23.1%)
Graham NumberEarnings₹18.5116%Under (+104.3%)
Earnings PowerEarnings₹1.5613%Over (-82.8%)
DCFCash Flow₹14.5613%Under (+60.7%)
Net Asset ValueAssets₹14.167%Under (+56.3%)
EV/EBITDAEnterprise₹11.449%Under (+26.3%)
Earnings YieldEarnings₹10.807%Under (+19.2%)
ROCE CapitalReturns₹36.749%Under (+305.5%)
Revenue MultipleRevenue₹32.845%Under (+262.5%)
Consensus (9 models)₹15.06100%Undervalued
Key Drivers: Wide model spread (₹2–₹37) — high uncertainty.

PE-ROE · Graham · EPV · DCF · NAV · EV/EBITDA · DDM · Earnings Yield · ROCE Capital · Revenue Multiple | CoE: 12% · Terminal: 4% · EPS CAGR: 12.9%

*Investments are subject to market risks

Investment Snapshot

58
Moksh Ornaments Ltd scores 58/100 (Average)
Based on 5 dimensions: health, institutional flow, earnings quality, momentum, and peer comparison
Stock Health71/100 · Strong
ROCE 13.3% GoodROE 10.0% AverageD/E 0.88 ModerateInterest Coverage 0.0x RiskyProfitable 5/5 years Consistent
Smart Money30/100 · Weak
FII holding down -2.29% (6mo) SellingPromoter holding at 40.1% Stable
Earnings Quality50/100 · Moderate
OPM stable around 3% Steady
Quarterly Momentum68/100 · Strong
Revenue (4Q): +13% YoY GrowingProfit (4Q): +9% YoY Positive
Industry Rank50/100 · Moderate
P/E 8.6 vs industry 10.2 In-lineROCE 13.3% vs industry 21.0% AverageROE 10.0% vs industry 24.0% Below peers3Y sales CAGR: 21% High growth

Weights: Health 30% · Earnings Quality 25% · Momentum 20% · Industry Rank 15% · Smart Money 10%. Scores are computed from reported financials and recalculated daily. Not investment advice.

Share Price and Basic Stock Data

Last Updated: April 2, 2026, 3:21 am

Market Cap 80.0 Cr.
Current Price 9.06
Intrinsic Value₹15.06
High / Low 16.6/8.11
Stock P/E8.59
Book Value 14.1
Dividend Yield0.00 %
ROCE13.3 %
ROE10.0 %
Face Value 2.00
PEG Ratio0.67

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

View Share Price Target for Moksh Ornaments Ltd

Competitors

Stock Name ⇩Market Cap ⇩Current Price ⇩High / Low ⇩Stock P/E ⇩Book Value ⇩Dividend Yield ⇩ROCE ⇩ROE ⇩Face Value ⇩
Moksh Ornaments Ltd 80.0 Cr. 9.06 16.6/8.118.59 14.10.00 %13.3 %10.0 % 2.00
Tribhovandas Bhimji Zaveri Ltd (TBZ) 841 Cr. 126 233/1105.83 1041.79 %12.0 %10.9 % 10.0
D. P. Abhushan Ltd 2,295 Cr. 1,006 1,730/89012.3 2220.00 %33.6 %35.1 % 10.0
Kanani Industries Ltd 25.1 Cr. 1.27 2.72/1.0214.0 3.380.00 %1.21 %1.19 % 1.00
Lypsa Gems & Jewellery Ltd 13.7 Cr. 4.65 11.0/4.05 5.590.00 %45.1 %63.0 % 10.0
Industry Average1,568.00 Cr229.4010.1869.810.36%21.04%24.04%6.60

All Competitor Stocks of Moksh Ornaments Ltd

Quarterly Result

MetricDec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Sales 126.67104.35132.10126.5884.94105.58136.82158.45117.30167.33150.66151.70115.20
Expenses 124.24100.57129.50123.4481.01102.86132.44154.01112.81166.57146.50147.25110.76
Operating Profit 2.433.782.603.143.932.724.384.444.490.764.164.454.44
OPM % 1.92%3.62%1.97%2.48%4.63%2.58%3.20%2.80%3.83%0.45%2.76%2.93%3.85%
Other Income 0.080.100.140.430.190.790.130.140.142.200.150.110.08
Interest 0.480.890.661.112.091.401.481.321.261.071.030.830.70
Depreciation 0.040.040.040.040.040.040.040.040.050.040.040.040.04
Profit before tax 1.992.952.042.421.992.072.993.223.321.853.243.693.78
Tax % 25.13%32.54%25.00%25.21%25.13%30.43%25.08%25.16%25.30%29.73%25.00%25.20%25.13%
Net Profit 1.491.991.531.811.481.432.242.412.481.302.422.762.83
EPS in Rs 0.170.230.180.210.170.170.260.280.300.160.290.310.32

Last Updated: March 3, 2026, 8:16 pm

Quarterly Chart

Profit & Loss - Annual Report

Last Updated: February 25, 2026, 2:16 am

MetricMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025TTM
Sales 81111143240310381344337324447449580585
Expenses 79109140233301372338328317436437566571
Operating Profit 22378969710121414
OPM % 2%2%2%3%3%2%2%3%2%2%3%2%2%
Other Income 0000015311233
Interest 1223334412554
Depreciation 0000000000000
Profit before tax 000567787891113
Tax % 32%33%32%32%33%28%25%27%26%28%26%26%
Net Profit 0003455656689
EPS in Rs 0.320.120.040.750.450.550.620.650.590.710.721.011.08
Dividend Payout % 0%0%0%0%0%0%0%0%10%0%0%0%

Profit & Loss Yearly Chart

YoY Net Profit Growth

Year2017-20182018-20192019-20202020-20212021-20222022-20232023-20242024-2025
YoY Net Profit Growth (%)33.33%25.00%0.00%20.00%-16.67%20.00%0.00%33.33%
Change in YoY Net Profit Growth (%)0.00%-8.33%-25.00%20.00%-36.67%36.67%-20.00%33.33%

Moksh Ornaments Ltd has shown an inconsistent trend in YoY Net Profit Growth (%) in the last 8 years from 2017-2018 to 2024-2025.

No data available for the compounded sales growth chart.

Balance Sheet

Last Updated: January 7, 2026, 4:05 pm

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Sep 2025
Equity Capital 0.50255111111111111111718
Reserves 01361520253034404794107
Borrowings 1815133634506036428503239
Other Liabilities 28235258311017
Total Liabilities 202744526285103795080108144170
Fixed Assets 0222220000001
CWIP 0000000000000
Investments 0000000000000
Other Assets 202542506083103794979108143169
Total Assets 202744526285103795080108144170

Reserves and Borrowings Chart

Cash Flow

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Cash from Operating Activity + 23-8-8319-12326-21-18-27
Cash from Investing Activity + -20-00-0-1177-000-0
Cash from Financing Activity + -2-0109167-221-32242327
Net Cash Flow -12111815-267-724-0
Free Cash Flow 13-9-8320-5926-21-18-27
CFO/OP 108%104%-98%-75%50%325%-1,442%366%-186%-108%-156%

Free Cash Flow

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Free Cash Flow-16.00-13.00-10.00-29.00-26.00-41.00-54.00-27.003.00-18.00-38.00-18.00

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 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Debtor Days 81133131210384834243417
Inventory Days 78757260534630
Days Payable 725553034
Cash Conversion Cycle 796150706554634834243417
Working Capital Days 1720189235-23951404064
ROCE %9%13%14%22%16%14%12%13%13%17%15%13%

Financial Efficiency Indicators Chart

Share Holding Pattern

MonthMar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Promoters 55.13%55.13%55.13%55.13%55.13%55.13%55.13%55.13%36.87%36.87%40.09%40.09%
FIIs 0.00%0.00%0.00%0.00%0.13%0.10%0.00%0.00%6.82%6.16%4.53%4.53%
DIIs 0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.08%
Public 44.87%44.87%44.87%44.87%44.74%44.76%44.86%44.87%56.31%56.97%55.38%55.30%
No. of Shareholders 26,49526,61233,46833,53239,49137,29637,67537,85740,14939,51338,81037,079

Shareholding Pattern Chart

No. of Shareholders

Moksh Ornaments Ltd: Intrinsic Value & Share Price Analysis - Shareholder trend analysis

This stock is not held by any mutual fund.

ROCE Trend

EPS Trend

Key Financial Ratios

MonthMar 25Mar 24Mar 23Mar 22Mar 21
FaceValue 2.002.002.002.0010.00
Basic EPS (Rs.) 1.011.171.140.963.95
Diluted EPS (Rs.) 1.012.001.140.963.95
Cash EPS (Rs.) 1.031.201.170.983.97
Book Value[Excl.RevalReserv]/Share (Rs.) 13.2310.679.508.3637.46
Book Value[Incl.RevalReserv]/Share (Rs.) 13.2310.679.508.3637.46
Dividend / Share (Rs.) 0.000.000.000.020.00
Revenue From Operations / Share (Rs.) 69.2483.7183.2360.38313.79
PBDIT / Share (Rs.) 2.012.602.021.498.92
PBIT / Share (Rs.) 1.992.571.991.468.89
PBT / Share (Rs.) 1.361.591.581.295.38
Net Profit / Share (Rs.) 1.011.171.140.953.95
PBDIT Margin (%) 2.893.102.422.462.84
PBIT Margin (%) 2.863.062.392.412.83
PBT Margin (%) 1.961.891.892.131.71
Net Profit Margin (%) 1.451.391.371.581.25
Return on Networth / Equity (%) 7.6010.9212.0211.4410.53
Return on Capital Employeed (%) 14.9523.2719.6015.9923.74
Return On Assets (%) 5.855.837.7110.335.49
Long Term Debt / Equity (X) 0.000.020.050.000.00
Total Debt / Equity (X) 0.280.860.540.000.88
Asset Turnover Ratio (%) 4.624.816.925.113.73
Current Ratio (X) 4.392.233.1666.112.08
Quick Ratio (X) 1.211.091.4245.611.44
Inventory Turnover Ratio (X) 7.310.000.0015.540.00
Dividend Payout Ratio (NP) (%) 0.000.000.0010.440.00
Dividend Payout Ratio (CP) (%) 0.000.000.0010.120.00
Earning Retention Ratio (%) 0.000.000.0089.560.00
Cash Earning Retention Ratio (%) 0.000.000.0089.880.00
Interest Coverage Ratio (X) 3.192.654.938.802.55
Interest Coverage Ratio (Post Tax) (X) 2.602.193.796.662.13
Enterprise Value (Cr.) 134.42132.2370.0976.3079.47
EV / Net Operating Revenue (X) 0.230.290.150.230.23
EV / EBITDA (X) 7.999.486.479.558.30
MarketCap / Net Operating Revenue (X) 0.190.200.100.240.15
Retention Ratios (%) 0.000.000.0089.550.00
Price / BV (X) 1.011.600.931.761.33
Price / Net Operating Revenue (X) 0.190.200.100.240.15
EarningsYield 0.070.060.120.060.07

Profitability Ratios (%)

Liquidity Ratios

Liquidity Ratios (%)

Interest Coverage Ratios (%)

Valuation Ratios

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 Manufacture of jewellery of gold, silver and other precious or base metal metal clad with precious metals or precious or semi-precious stones, or of combinations of precious metal and precious or semi-precious stones or of other materials. Company's Total Operating Revenue is Rs. 579.90 Cr. and Equity Capital is Rs. 16.75 Cr. for the Year ended 31/03/2025.
INDUSTRYADDRESSCONTACT
Gems, Jewellery & Precious MetalsB-405/1, B-405/2, 4th floor, Mumbai Maharashtra 400002Contact not found
Management
NamePosition Held
Mr. Amrit Jawanmalji ShahManaging Director & CFO
Mrs. Sangeeta Amritlal ShahExecutive Director
Mr. Neville Sheriyar IraniNon Executive Director
Mr. Siddarth SanghiNon Executive Director
Ms. Nirali Haresh ShahIndependent Director
Mr. Mitwa Nayan ShahIndependent Director
Mr. Tejraj Mithalal Jain GannaIndependent Director
Mr. Hardik Pravinbhai MakwanaIndependent Director

FAQ

What is the intrinsic value of Moksh Ornaments Ltd and is it undervalued?

As of 18 April 2026, Moksh Ornaments Ltd's intrinsic value is ₹15.06, which is 66.23% higher than the current market price of ₹9.06, suggesting the stock is undervalued. This is calculated using the PE ratio method factoring in ROE (10.0 %), book value (₹14.1), dividend yield (0.00 %), and 5-year EPS CAGR.

What is the current share price and 52-week range of Moksh Ornaments Ltd?

Moksh Ornaments Ltd is trading at ₹9.06 as of 18 April 2026, with a FY2026-2027 high of ₹16.6 and low of ₹8.11. The stock is currently near its 52-week low. Market cap stands at ₹80.0 Cr..

How does Moksh Ornaments Ltd's P/E ratio compare to its industry?

Moksh Ornaments Ltd has a P/E ratio of 8.59, which is below the industry average of 10.18. This is broadly in line with or below the industry average.

Is Moksh Ornaments Ltd financially healthy?

Key indicators for Moksh Ornaments Ltd: ROCE of 13.3 % is moderate. Dividend yield is 0.00 %.

Is Moksh Ornaments Ltd profitable and how is the profit trend?

Moksh Ornaments Ltd reported a net profit of ₹8 Cr in Mar 2025 on revenue of ₹580 Cr. Compared to ₹5 Cr in Mar 2022, the net profit shows an improving trend.

Does Moksh Ornaments Ltd pay dividends?

Moksh Ornaments Ltd has a dividend yield of 0.00 % at the current price of ₹9.06. The company is currently not paying meaningful dividends.

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
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