PC Jeweller Ltd: Fundamental Analysis, Share Price Insights & Intrinsic Value (2024)

Share Price and Basic Stock Data

Last Updated: December 21, 2024, 2:02 am

Market Cap	9,073 Cr.
Current Price	16.8
High / Low	19.6/4.19
Stock P/E	592
Book Value	7.37
Dividend Yield	0.00 %
ROCE	1.74 %
ROE	19.0 %
Face Value	1.00
PEG Ratio	-16.78

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

Stock P/E Current Price Intrinsic Value

View Share Price Target for

Competitors of

Stock Name	Market Cap	Current Price	High / Low	Stock P/E	Book Value	Dividend Yield	ROCE	ROE	Face Value
Thangamayil Jewellery Ltd	5,517 Cr.	2,011	2,650/1,140	57.9	188	0.50 %	20.3 %	28.0 %	10.0
Silgo Retail Ltd	70.1 Cr.	37.9	53.4/23.0	19.6	30.1	0.00 %	10.1 %	7.43 %	10.0
Shubhlaxmi Jewel Art Ltd	24.5 Cr.	27.8	92.8/24.0	20.1	25.7	0.00 %	9.34 %	6.21 %	10.0
Renaissance Global Ltd	1,697 Cr.	176	196/87.4	22.9	124	0.00 %	8.25 %	6.51 %	2.00
Rajesh Exports Ltd	6,968 Cr.	236	380/227	182	526	0.00 %	3.23 %	2.24 %	1.00
Industry Average	4,687.80 Cr	336.96		218.64	117.21	0.06%	7.23%	11.61%	6.75

All Competitor Stocks of

Quarterly Result

Month	Jun 2021	Sep 2021	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024
Sales	247	560	611	189	547	898	854	173	68	449	40	48	401
Expenses	228	520	575	379	463	750	818	194	111	503	113	50	350
Operating Profit	18	40	36	-190	85	147	36	-20	-43	-54	-73	-2	52
OPM %	7%	7%	6%	-101%	15%	16%	4%	-12%	-64%	-12%	-182%	-3%	13%
Other Income	15	-3	2	39	76	61	29	-2	5	45	3	11	39
Interest	93	108	123	114	122	122	125	124	125	124	126	130	2
Depreciation	7	7	7	7	7	7	7	7	7	5	5	4	4
Profit before tax	-67	-78	-91	-273	33	79	-67	-152	-170	-137	-201	-124	85
Tax %	-2%	1%	-19%	-37%	-129%	-9%	-9%	98%	1%	1%	-1%	-2%	-84%
Net Profit	-66	-79	-74	-173	74	86	-61	-302	-172	-138	-198	-122	156
EPS in Rs	-1.41	-1.70	-1.58	-3.72	1.60	1.85	-1.31	-6.50	-3.69	-2.97	-4.25	-2.61	3.35

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

Quarterly Chart

Profit & Loss - Annual Report

Last Updated: October 17, 2024, 4:57 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	TTM
Sales	3,990	5,325	6,361	7,301	8,464	9,610	8,672	5,206	2,825	1,605	2,472	604	939
Expenses	3,507	4,726	5,631	6,543	7,699	8,620	8,374	4,749	2,410	1,696	2,216	774	1,016
Operating Profit	482	599	730	758	765	990	298	457	415	-91	256	-170	-77
OPM %	12%	11%	11%	10%	9%	10%	3%	9%	15%	-6%	10%	-28%	-8%
Other Income	20	36	59	50	97	92	77	80	24	53	163	64	98
Interest	127	153	227	251	286	324	354	374	396	442	499	505	381
Depreciation	10	12	23	23	22	21	19	37	35	28	27	20	18
Profit before tax	365	469	540	534	554	737	2	125	8	-508	-108	-632	-377
Tax %	20%	24%	30%	25%	24%	27%	70%	34%	-694%	-23%	88%	-0%
Net Profit	291	356	378	398	421	536	1	83	62	-391	-203	-629	-302
EPS in Rs	8.12	9.95	10.56	11.12	11.75	13.58	0.02	2.10	1.33	-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

Year	2013-2014	2014-2015	2015-2016	2016-2017	2017-2018	2018-2019	2019-2020	2020-2021	2021-2022	2022-2023	2023-2024
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%

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:	5%
5 Years:	48%
3 Years:	88%
1 Year:	225%

Return on Equity
10 Years:	2%
5 Years:	-6%
3 Years:	-11%
Last Year:	-19%

Last Updated: Unknown

Balance Sheet

Last Updated: November 14, 2024, 7:54 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	179	179	179	179	179	394	395	395	465	465	465	465	465
Reserves	1,210	1,503	1,811	2,230	3,173	3,487	3,526	3,608	3,804	3,423	3,225	2,466	2,963
Borrowings	233	1,004	682	970	803	1,116	2,121	2,429	2,414	3,391	3,736	4,150	4,010
Other Liabilities	1,813	1,546	2,052	2,371	3,242	3,987	1,608	1,465	1,214	266	209	188	81
Total Liabilities	3,435	4,233	4,724	5,751	7,397	8,984	7,649	7,897	7,898	7,545	7,636	7,269	7,519
Fixed Assets	63	84	90	91	88	93	74	169	139	121	115	71	67
CWIP	1	1	0	0	0	1	1	1	0	0	1	0	0
Investments	443	185	13	8	9	19	8	8	15	3	2	3	2
Other Assets	2,929	3,963	4,621	5,652	7,299	8,872	7,566	7,720	7,744	7,421	7,518	7,196	7,450
Total Assets	3,435	4,233	4,724	5,751	7,397	8,984	7,649	7,897	7,898	7,545	7,636	7,269	7,519

Reserves and Borrowings Chart

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	Mar 2024
Cash from Operating Activity +	520	-786	333	16	794	358	-1,931	76	91	-719	100	64
Cash from Investing Activity +	-592	246	213	-25	-530	-378	978	38	94	115	30	7
Cash from Financing Activity +	141	571	-565	16	47	-4	652	-170	-156	570	-111	-108
Net Cash Flow	68	31	-19	7	312	-24	-302	-57	30	-34	19	-37

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	Mar 2024
Free Cash Flow	249.00	598.00	48.00	-212.00	-38.00	989.00	296.00	455.00	413.00	-94.00	253.00	-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

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	62	43	45	49	66	70	84	132	185	65	63	110
Inventory Days	186	194	219	225	206	232	227	434	954	1,465	1,012	3,044
Days Payable	176	105	123	126	147	160	57	87	150	4	3	7
Cash Conversion Cycle	71	132	140	147	125	142	253	479	988	1,526	1,072	3,147
Working Capital Days	69	136	126	142	114	121	234	417	808	1,307	896	3,434
ROCE %	36%	29%	28%	26%	22%	23%	7%	8%	6%	-1%	5%	-2%

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	54.53%	54.53%	54.53%	54.53%	54.53%	54.53%	54.53%	54.53%	54.53%	54.53%	54.53%	54.53%
FIIs	0.79%	0.80%	0.99%	1.12%	1.41%	2.15%	1.65%	1.04%	0.84%	0.78%	0.93%	2.57%
DIIs	1.49%	1.49%	1.49%	1.49%	1.49%	1.45%	1.45%	1.45%	1.49%	1.45%	1.45%	1.45%
Public	43.19%	43.17%	42.97%	42.85%	42.56%	41.87%	42.36%	42.98%	43.15%	43.24%	43.08%	41.45%
No. of Shareholders	2,18,769	2,19,332	2,16,619	2,06,811	1,87,383	1,72,881	1,93,185	2,01,246	2,25,916	2,30,352	2,10,400	2,09,539

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	10.00	10.00	10.00	10.00	10.00
Basic EPS (Rs.)	-13.52	-4.37	-8.40	1.53	2.10
Diluted EPS (Rs.)	-13.52	-4.37	-8.40	1.53	2.10
Cash EPS (Rs.)	-13.09	-3.78	-7.80	2.08	3.05
Book Value[Excl.RevalReserv]/Share (Rs.)	62.98	79.30	83.56	91.73	101.34
Book Value[Incl.RevalReserv]/Share (Rs.)	62.98	79.30	83.56	91.73	101.34
Revenue From Operations / Share (Rs.)	13.01	53.13	34.51	60.73	131.82
PBDIT / Share (Rs.)	-2.29	8.84	-0.92	9.38	13.47
PBIT / Share (Rs.)	-2.73	8.25	-1.52	8.63	12.52
PBT / Share (Rs.)	-13.57	-2.32	-10.92	0.16	3.17
Net Profit / Share (Rs.)	-13.52	-4.37	-8.40	1.33	2.10
NP After MI And SOA / Share (Rs.)	-13.52	-4.37	-8.40	1.33	2.10
PBDIT Margin (%)	-17.64	16.63	-2.67	15.44	10.21
PBIT Margin (%)	-21.01	15.53	-4.39	14.21	9.49
PBT Margin (%)	-104.35	-4.36	-31.63	0.27	2.40
Net Profit Margin (%)	-103.95	-8.21	-24.34	2.19	1.59
NP After MI And SOA Margin (%)	-103.95	-8.21	-24.34	2.19	1.59
Return on Networth / Equity (%)	-21.46	-5.50	-10.05	1.45	2.07
Return on Capital Employeed (%)	-4.27	10.18	-1.77	9.20	11.91
Return On Assets (%)	-8.65	-2.66	-5.18	0.78	1.05
Total Debt / Equity (X)	1.39	0.98	0.84	0.53	0.57
Asset Turnover Ratio (%)	0.08	0.32	0.20	0.33	0.63
Current Ratio (X)	1.37	1.63	2.02	2.16	2.04
Quick Ratio (X)	0.05	0.13	0.43	0.48	0.59
Inventory Turnover Ratio (X)	0.09	0.35	0.18	0.52	0.89
Interest Coverage Ratio (X)	-0.21	0.83	-0.09	1.11	1.44
Interest Coverage Ratio (Post Tax) (X)	-0.24	0.58	0.10	1.16	1.22
Enterprise Value (Cr.)	6580.15	4831.86	4190.56	3375.51	2499.07
EV / Net Operating Revenue (X)	10.87	1.95	2.61	1.19	0.47
EV / EBITDA (X)	-61.59	11.75	-97.66	7.73	4.70
MarketCap / Net Operating Revenue (X)	4.13	0.50	0.60	0.44	0.08
Price / BV (X)	0.85	0.33	0.24	0.29	0.11
Price / Net Operating Revenue (X)	4.13	0.50	0.60	0.44	0.08
EarningsYield	-0.25	-0.16	-0.40	0.04	0.18

Profitability Ratios (%)

Liquidity Ratios

Liquidity Ratios (%)

Interest Coverage Ratios (%)

Valuation Ratios

Fair Value

Fair Value of as of December 22, 2024 is: 845.56

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 22, 2024, is Undervalued by 4,933.10% compared to the current share price 16.80

Intrinsic Value of as of December 22, 2024 is: 547.20

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 22, 2024, is Undervalued by 3,157.14% compared to the current share price 16.80

Last 5 Year EPS CAGR: -35.29%

*Investments are subject to market risks

Strength and Weakness

Strength	Weakness
The stock has a high average ROCE of 15.58%, which is a positive sign. The company has higher reserves (2,802.23 cr) compared to borrowings (2,081.46 cr), indicating strong financial stability. The company has shown consistent growth in sales (123.00 cr) and profit (131.46 cr) over the years.	The stock has a high average Working Capital Days of 255.58, which may not be favorable. The stock has a high average Cash Conversion Cycle of 206.83, which may not be favorable.

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 :
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: 7.23%)
  - 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%: -21.46% (Industry Average ROE: 11.61%)
  - 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: 592 (Industry average Stock P/E: 218.64)
  - 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.

INDUSTRY	ADDRESS	CONTACT
Gems, Jewellery & Precious Metals	2713, 3rd Floor, Bank Street, New Delhi Delhi 110005	investors@pcjeweller.com http://www.pcjeweller.com

Management
Name	Position Held
Mr. Balram Garg	Managing Director
Mr. Ramesh Kumar Sharma	Executive Director
Mrs. Sannovanda Machaiah Swathi	Independent Director
Dr. Manohar Lal Singla	Independent Director
Mr. Krishan Kumar Khurana	Independent Director
Mr. Miyar Ramanath Nayak	Independent Director

FAQ

What is the latest intrinsic value of ?

The latest intrinsic value of as on 21 December 2024 is ₹845.56, which is 4933.10% higher than the current market price of ₹16.80. The stock has a market capitalization of 9,073 Cr. and recorded a high/low of 19.6/4.19 during the current fiscal year 2024-2025. As of Sep 2024, the company has reserves of ₹2,963 Cr and total liabilities of ₹7,519 Cr.

What is the Market Cap of ?

The Market Cap of is 9,073 Cr..

What is the current Stock Price of as on 21 December 2024?

The current stock price of as on 21 December 2024 is 16.8.

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

In FY 2024-2025, the High / Low of stocks is 19.6/4.19.

What is the Stock P/E of ?

The Stock P/E of is 592.

What is the Book Value of ?

The Book Value of is 7.37.

What is the Dividend Yield of ?

The Dividend Yield of is 0.00 %.

What is the ROCE of ?

The ROCE of is 1.74 %.

What is the ROE of ?

The ROE of is 19.0 %.

What is the Face Value of ?

The Face Value of is 1.00.