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Last Updated on: 14 November, 2024
Author: Getaka|Social: Getaka Financial Services X (Earlier Twitter) Profile Getaka Financial Services LinkedIn Logo
Stock Ticker - BSE: 534809 | NSE: PCJEWELLER

PC Jeweller Ltd: Intrinsic Value and Fundamental Analysis

Share Price and Basic Stock Data

Last Updated: November 10, 2024, 11:10 am

Market Cap 6,963 Cr.
Current Price 150
High / Low187/27.7
Stock P/E454
Book Value 73.7
Dividend Yield0.00 %
ROCE1.74 %
ROE19.0 %
Face Value 10.0
PEG Ratio-12.87

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

View Share Price Target for PC Jeweller Ltd

Competitors of PC Jeweller Ltd

Stock NameMarket CapCurrent PriceHigh / LowStock P/EBook ValueDividend YieldROCEROEFace Value
Thangamayil Jewellery Ltd 5,487 Cr. 2,0002,650/1,14057.5 1880.50 %20.3 %28.0 % 10.0
Silgo Retail Ltd 78.2 Cr. 42.353.4/19.823.8 29.20.00 %10.1 %7.43 % 10.0
Shubhlaxmi Jewel Art Ltd 24.2 Cr. 27.596.4/24.019.4 24.60.00 %9.44 %6.31 % 10.0
Renaissance Global Ltd 1,800 Cr. 187196/87.424.5 1190.00 %8.25 %6.51 % 2.00
Rajesh Exports Ltd 7,659 Cr. 259447/235201 5160.00 %3.23 %2.24 % 1.00
Industry Average4,415.40 Cr354.99194.31123.380.06%7.25%11.62%7.88

All Competitor Stocks of PC Jeweller Ltd

Quarterly Result

MonthJun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024
Sales247560611189547898854173684494048401
Expenses22852057537946375081819411150311350350
Operating Profit184036-1908514736-20-43-54-73-252
OPM %7%7%6%-101%15%16%4%-12%-64%-12%-182%-3%13%
Other Income15-3239766129-254531139
Interest931081231141221221251241251241261302
Depreciation7777777775544
Profit before tax-67-78-91-2733379-67-152-170-137-201-12485
Tax %-2%1%-19%-37%-129%-9%-9%98%1%1%-1%-2%-84%
Net Profit-66-79-74-1737486-61-302-172-138-198-122156
EPS in Rs-1.41-1.70-1.58-3.721.601.85-1.31-6.50-3.69-2.97-4.25-2.613.35

Last Updated: October 17, 2024, 4:57 pm

Quarterly Chart

Profit & Loss - Annual Report

Last Updated: October 17, 2024, 4:57 pm

MonthMar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024TTM
Sales3,9905,3256,3617,3018,4649,6108,6725,2062,8251,6052,472604939
Expenses3,5074,7265,6316,5437,6998,6208,3744,7492,4101,6962,2167741,016
Operating Profit482599730758765990298457415-91256-170-77
OPM %12%11%11%10%9%10%3%9%15%-6%10%-28%-8%
Other Income203659509792778024531636498
Interest127153227251286324354374396442499505381
Depreciation10122323222119373528272018
Profit before tax36546954053455473721258-508-108-632-377
Tax %20%24%30%25%24%27%70%34%-694%-23%88%-0%
Net Profit29135637839842153618362-391-203-629-302
EPS in Rs8.129.9510.5611.1211.7513.580.022.101.33-8.40-4.37-13.52-6.48
Dividend Payout %6%15%15%15%4%4%0%0%0%0%0%0%

Profit & Loss Yearly Chart

YoY Net Profit Growth

Year2013-20142014-20152015-20162016-20172017-20182018-20192019-20202020-20212021-20222022-20232023-2024
YoY Net Profit Growth (%)22.34%6.18%5.29%5.78%27.32%-99.81%8200.00%-25.30%-730.65%48.08%-209.85%
Change in YoY Net Profit Growth (%)0.00%-16.16%-0.89%0.49%21.54%-127.13%8299.81%-8225.30%-705.34%778.73%-257.93%

PC Jeweller Ltd has shown an inconsistent trend in YoY Net Profit Growth (%) in the last 11 years from 2013-2014 to 2023-2024.

Growth

Compounded Sales Growth
10 Years:-20%
5 Years:-41%
3 Years:-40%
TTM:-36%
Compounded Profit Growth
10 Years:%
5 Years:%
3 Years:%
TTM:102%
Stock Price CAGR
10 Years:1%
5 Years:34%
3 Years:72%
1 Year:376%
Return on Equity
10 Years:2%
5 Years:-6%
3 Years:-11%
Last Year:-19%

Last Updated: Unknown

Balance Sheet

Last Updated: Unknown

MonthMar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024
Equity Capital179179179179179394395395465465465465
Reserves1,2101,5031,8112,2303,1733,4873,5263,6083,8043,4233,2252,466
Borrowings2331,0046829708031,1162,1212,4292,4143,3913,7364,150
Other Liabilities1,8131,5462,0522,3713,2423,9871,6081,4651,214266209188
Total Liabilities3,4354,2334,7245,7517,3978,9847,6497,8977,8987,5457,6367,269
Fixed Assets6384909188937416913912111571
CWIP110001110010
Investments4431851389198815323
Other Assets2,9293,9634,6215,6527,2998,8727,5667,7207,7447,4217,5187,196
Total Assets3,4354,2334,7245,7517,3978,9847,6497,8977,8987,5457,6367,269

Reserves and Borrowings Chart

Cash Flow

MonthMar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024
Cash from Operating Activity 520-78633316794358-1,9317691-71910064
Cash from Investing Activity -592246213-25-530-3789783894115307
Cash from Financing Activity 141571-5651647-4652-170-156570-111-108
Net Cash Flow6831-197312-24-302-5730-3419-37

Free Cash Flow

MonthMar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024
Free Cash Flow249.00598.0048.00-212.00-38.00989.00296.00455.00413.00-94.00253.00-174.00

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 Days624345496670841321856563110
Inventory Days1861942192252062322274349541,4651,0123,044
Days Payable1761051231261471605787150437
Cash Conversion Cycle711321401471251422534799881,5261,0723,147
Working Capital Days691361261421141212344178081,3078963,434
ROCE %36%29%28%26%22%23%7%8%6%-1%5%-2%

Financial Efficiency Indicators Chart

Share Holding Pattern

MonthSep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024
Promoters54.53%54.53%54.53%54.53%54.53%54.53%54.53%54.53%54.53%54.53%54.53%54.53%
FIIs0.79%0.80%0.99%1.12%1.41%2.15%1.65%1.04%0.84%0.78%0.93%2.57%
DIIs1.49%1.49%1.49%1.49%1.49%1.45%1.45%1.45%1.49%1.45%1.45%1.45%
Public43.19%43.17%42.97%42.85%42.56%41.87%42.36%42.98%43.15%43.24%43.08%41.45%
No. of Shareholders2,18,7692,19,3322,16,6192,06,8111,87,3831,72,8811,93,1852,01,2462,25,9162,30,3522,10,4002,09,539

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
FaceValue10.0010.0010.0010.0010.00
Basic EPS (Rs.)-13.52-4.37-8.401.532.10
Diluted EPS (Rs.)-13.52-4.37-8.401.532.10
Cash EPS (Rs.)-13.09-3.78-7.802.083.05
Book Value[Excl.RevalReserv]/Share (Rs.)62.9879.3083.5691.73101.34
Book Value[Incl.RevalReserv]/Share (Rs.)62.9879.3083.5691.73101.34
Revenue From Operations / Share (Rs.)13.0153.1334.5160.73131.82
PBDIT / Share (Rs.)-2.298.84-0.929.3813.47
PBIT / Share (Rs.)-2.738.25-1.528.6312.52
PBT / Share (Rs.)-13.57-2.32-10.920.163.17
Net Profit / Share (Rs.)-13.52-4.37-8.401.332.10
NP After MI And SOA / Share (Rs.)-13.52-4.37-8.401.332.10
PBDIT Margin (%)-17.6416.63-2.6715.4410.21
PBIT Margin (%)-21.0115.53-4.3914.219.49
PBT Margin (%)-104.35-4.36-31.630.272.40
Net Profit Margin (%)-103.95-8.21-24.342.191.59
NP After MI And SOA Margin (%)-103.95-8.21-24.342.191.59
Return on Networth / Equity (%)-21.46-5.50-10.051.452.07
Return on Capital Employeed (%)-4.2710.18-1.779.2011.91
Return On Assets (%)-8.65-2.66-5.180.781.05
Total Debt / Equity (X)1.390.980.840.530.57
Asset Turnover Ratio (%)0.080.310.200.330.63
Current Ratio (X)1.371.632.022.162.04
Quick Ratio (X)0.050.130.430.480.59
Inventory Turnover Ratio (X)0.090.350.180.520.89
Interest Coverage Ratio (X)-0.210.83-0.091.111.44
Interest Coverage Ratio (Post Tax) (X)-0.240.580.101.161.22
Enterprise Value (Cr.)6580.154831.864190.563375.512499.07
EV / Net Operating Revenue (X)10.871.952.611.190.47
EV / EBITDA (X)-61.5911.75-97.667.734.70
MarketCap / Net Operating Revenue (X)4.130.500.600.440.08
Price / BV (X)0.850.330.240.290.11
Price / Net Operating Revenue (X)4.130.500.600.440.08
EarningsYield-0.25-0.16-0.400.040.18

Profitability Ratios (%)

Liquidity Ratios

Liquidity Ratios (%)

Interest Coverage Ratios (%)

Valuation Ratios

Fair Value

Fair Value of PC Jeweller Ltd as of November 14, 2024 is: 6,484.51

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 14, 2024, PC Jeweller Ltd is Undervalued by 4,223.01% compared to the current share price 150.00

Intrinsic Value of PC Jeweller Ltd as of November 14, 2024 is: 4,196.45

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 14, 2024, PC Jeweller Ltd is Undervalued by 2,697.63% compared to the current share price 150.00

Last 5 Year EPS CAGR: -35.29%

*Investments are subject to market risks

Strength and Weakness

StrengthWeakness
  1. The stock has a high average ROCE of 15.58%, which is a positive sign.
  2. The company has higher reserves (2,788.83 cr) compared to borrowings (1,920.75 cr), indicating strong financial stability.
  3. The company has shown consistent growth in sales (123.00 cr) and profit (131.46 cr) over the years.
  1. The stock has a high average Working Capital Days of 255.58, which may not be favorable.
  2. The stock has a high average Cash Conversion Cycle of 206.83, which may not be favorable.

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 PC Jeweller Ltd:
    1. Net Profit Margin: -103.95%
      • 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: -4.27% (Industry Average ROCE: 7.25%)
      • 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%: -21.46% (Industry Average ROE: 11.62%)
      • 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): -0.24
      • 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: 0.05
      • 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: 454 (Industry average Stock P/E: 194.31)
      • 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: 1.39
      • 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

PC Jeweller Ltd. is a Public Limited Listed company incorporated on 13/04/2005 and has its registered office in the State of Delhi, India. Company’s Corporate Identification Number(CIN) is L36911DL2005PLC134929 and registration number is 134929. Currently Company is involved in the business activities of Manufacture of jewellery and related articles. Company’s Total Operating Revenue is Rs. 1574.05 Cr. and Equity Capital is Rs. 465.40 Cr. for the Year ended 31/03/2022.
INDUSTRYADDRESSCONTACT
Gems, Jewellery & Precious MetalsC - 54, Preet Vihar, Vikas Marg, New Delhi Delhi 110092investors@pcjeweller.com
http://www.pcjeweller.com
Management
NamePosition Held
Mr. Balram GargManaging Director
Mr. Ramesh Kumar SharmaExecutive Director
Mrs. Sannovanda Machaiah SwathiIndependent Director
Dr. Manohar Lal SinglaIndependent Director
Mr. Krishan Kumar KhuranaIndependent Director
Mr. Miyar Ramanath NayakIndependent Director
Mr. Suresh Kumar JainIndependent Director

FAQ

What is the latest intrinsic value of PC Jeweller Ltd?

The latest intrinsic value of PC Jeweller Ltd as on 14 November 2024 is ₹6484.51, which is 4223.01% higher than the current market price of ₹150.00.

What is the Market Cap of PC Jeweller Ltd?

The Market Cap of PC Jeweller Ltd is 6,963 Cr..

What is the current Stock Price of PC Jeweller Ltd as on 14 November 2024?

The current stock price of PC Jeweller Ltd as on 14 November 2024 is ₹150.

What is the High / Low of PC Jeweller Ltd stocks in FY 2024?

In FY 2024, the High / Low of PC Jeweller Ltd stocks is 187/27.7.

What is the Stock P/E of PC Jeweller Ltd?

The Stock P/E of PC Jeweller Ltd is 454.

What is the Book Value of PC Jeweller Ltd?

The Book Value of PC Jeweller Ltd is 73.7.

What is the Dividend Yield of PC Jeweller Ltd?

The Dividend Yield of PC Jeweller Ltd is 0.00 %.

What is the ROCE of PC Jeweller Ltd?

The ROCE of PC Jeweller Ltd is 1.74 %.

What is the ROE of PC Jeweller Ltd?

The ROE of PC Jeweller Ltd is 19.0 %.

What is the Face Value of PC Jeweller Ltd?

The Face Value of PC Jeweller Ltd is 10.0.

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 PC Jeweller 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