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Last Updated: April 2, 2026, 3:28 am
Author: Getaka|Social: XLinkedIn
Stock Ticker - BSE: 534809 | NSE: PCJEWELLER

PC Jeweller Ltd: Intrinsic Value & Share Price Analysis

Fair Value

₹10.75Undervalued by 30.30%vs CMP ₹8.25

P/E (10.5) × ROE (12.7%) × BV (₹9.88) × DY (2.00%)

₹10.81Undervalued by 31.03%vs CMP ₹8.25
MoS: +23.7% (Adequate)Confidence: 43/100 (Low)Models: 4 Under, 2 Fair, 2 Over
ModelCategoryValueWeightSignal
PE-ROEEarnings₹13.2027%Under (+60%)
Graham NumberEarnings₹14.5316%Under (+76.1%)
DCFCash Flow₹17.3313%Under (+110.1%)
Net Asset ValueAssets₹8.659%Fair (+4.8%)
EV/EBITDAEnterprise₹2.0511%Over (-75.2%)
Earnings YieldEarnings₹9.509%Under (+15.2%)
ROCE CapitalReturns₹8.099%Fair (-1.9%)
Revenue MultipleRevenue₹1.347%Over (-83.8%)
Consensus (8 models)₹10.81100%Undervalued
Key Drivers: Wide model spread (₹1–₹17) — high uncertainty.

PE-ROE · Graham · EPV · DCF · NAV · EV/EBITDA · DDM · Earnings Yield · ROCE Capital · Revenue Multiple | CoE: 12% · Terminal: 4% · EPS CAGR: 22.8%

*Investments are subject to market risks

Investment Snapshot

61
PC Jeweller Ltd scores 61/100 (Average)
Based on 5 dimensions: health, institutional flow, earnings quality, momentum, and peer comparison
Stock Health53/100 · Moderate
ROCE 6.6% WeakROE 12.7% GoodD/E 0.53 ModerateInterest Coverage 0.0x RiskyProfitable 2/5 years Inconsistent
Smart Money60/100 · Moderate
FII holding up 0.67% (6mo) Slight increaseDII holding down 2.79% MF sellingPromoter increased by 3.75% Positive
Earnings Quality30/100 · Weak
OPM contracting (2% → -5%) DecliningWorking capital: 796 days Capital intensive
Quarterly Momentum100/100 · Strong
Revenue (4Q): +96% YoY AcceleratingProfit (4Q): +82% YoY StrongOPM: 23.0% (up 5.0% YoY) Margin expansion
Industry Rank75/100 · Strong
P/E 10.5 vs industry 114.7 Cheaper than peersROCE 6.6% vs industry 6.5% AverageROE 12.7% vs industry 9.0% Above peers3Y sales CAGR: 12% Moderate

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, 3:28 am

Market Cap 6,904 Cr.
Current Price 8.25
Intrinsic Value₹10.81
High / Low 19.6/7.45
Stock P/E10.5
Book Value 9.88
Dividend Yield0.00 %
ROCE6.55 %
ROE12.7 %
Face Value 1.00
PEG Ratio0.46

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

View Share Price Target for PC Jeweller Ltd

Competitors

Stock Name ⇩Market Cap ⇩Current Price ⇩High / Low ⇩Stock P/E ⇩Book Value ⇩Dividend Yield ⇩ROCE ⇩ROE ⇩Face Value ⇩
PC Jeweller Ltd 6,904 Cr. 8.25 19.6/7.4510.5 9.880.00 %6.55 %12.7 % 1.00
Thangamayil Jewellery Ltd 11,042 Cr. 3,552 4,149/1,62545.6 3760.35 %13.7 %14.9 % 10.0
Rajesh Exports Ltd 2,458 Cr. 83.3 239/80.414.6 5620.00 %1.47 %0.61 % 1.00
Renaissance Global Ltd 1,093 Cr. 102 148/85.011.9 1350.00 %7.39 %6.02 % 2.00
Silgo Retail Ltd 184 Cr. 74.8 85.0/42.033.0 35.30.00 %10.5 %7.96 % 10.0
Industry Average3,640.67 Cr501.03114.74147.340.04%6.50%8.99%6.75

All Competitor Stocks of PC Jeweller Ltd

Quarterly Result

MetricDec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Sales 854173684494048401505639699725825875
Expenses 81819411150311350350419527554598647674
Operating Profit 36-20-43-54-73-25286112145127178202
OPM % 4%-12%-64%-12%-182%-3%13%17%18%21%18%22%23%
Other Income 29-25453113944441837024
Interest 12512412512412613022345423630
Depreciation 7775544455555
Profit before tax -67-152-170-137-201-1248512314896164206190
Tax % -9%98%1%1%-1%-2%-84%-45%0%2%1%-2%0%
Net Profit -61-302-172-138-198-12215617914895162210190
EPS in Rs -0.13-0.65-0.37-0.30-0.43-0.260.340.380.250.150.250.290.26

Last Updated: February 4, 2026, 4:46 pm

Quarterly Chart

Profit & Loss - Annual Report

Last Updated: February 25, 2026, 8:16 am

MetricMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025TTM
Sales 5,3256,3617,3018,4649,6108,6725,2062,8251,6052,4726042,2443,125
Expenses 4,7265,6316,5437,6998,6208,3744,7492,4101,6962,2167741,8482,473
Operating Profit 599730758765990298457415-91256-170396652
OPM % 11%11%10%9%10%3%9%15%-6%10%-28%18%21%
Other Income 36595097927780245316364126178
Interest 15322725128632435437439644249950552153
Depreciation 12232322211937352827201820
Profit before tax 46954053455473721258-508-108-632453656
Tax % 24%30%25%24%27%70%34%-694%-23%88%-0%-28%
Net Profit 35637839842153618362-391-203-629578656
EPS in Rs 0.991.061.111.181.360.000.210.13-0.84-0.44-1.350.910.95
Dividend Payout % 15%15%15%4%4%0%0%0%0%0%0%0%

Profit & Loss Yearly Chart

YoY Net Profit Growth

Year2014-20152015-20162016-20172017-20182018-20192019-20202020-20212021-20222022-20232023-20242024-2025
YoY Net Profit Growth (%)6.18%5.29%5.78%27.32%-99.81%8200.00%-25.30%-730.65%48.08%-209.85%191.89%
Change in YoY Net Profit Growth (%)0.00%-0.89%0.49%21.54%-127.13%8299.81%-8225.30%-705.34%778.73%-257.93%401.74%

PC Jeweller Ltd has shown an inconsistent trend in YoY Net Profit Growth (%) in the last 11 years from 2014-2015 to 2024-2025.

Growth

Compounded Sales Growth
10 Years:-10%
5 Years:-15%
3 Years:12%
TTM:174%
Compounded Profit Growth
10 Years:5%
5 Years:47%
3 Years:52%
TTM:293%
Stock Price CAGR
10 Years:-4%
5 Years:53%
3 Years:22%
1 Year:7%
Return on Equity
10 Years:2%
5 Years:-3%
3 Years:-2%
Last Year:13%

Last Updated: September 5, 2025, 12:10 pm

Balance Sheet

Last Updated: December 4, 2025, 1:47 am

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Sep 2025
Equity Capital 179179179179394395395465465465465636725
Reserves 1,5031,8112,2303,1733,4873,5263,6083,8043,4233,2252,4665,5576,513
Borrowings 1,0046829708031,1162,1212,4292,4143,3913,7364,1502,1511,594
Other Liabilities 1,5462,0522,3713,2423,9871,6081,4651,2142662091886883
Total Liabilities 4,2334,7245,7517,3978,9847,6497,8977,8987,5457,6367,2698,4128,915
Fixed Assets 8490918893741691391211157194101
CWIP 1000111001000
Investments 185138919881532300
Other Assets 3,9634,6215,6527,2998,8727,5667,7207,7447,4217,5187,1968,3188,814
Total Assets 4,2334,7245,7517,3978,9847,6497,8977,8987,5457,6367,2698,4128,915

Reserves and Borrowings Chart

Cash Flow

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Cash from Operating Activity + -78633316794358-1,9317691-71910064-633
Cash from Investing Activity + 246213-25-530-37897838941153072
Cash from Financing Activity + 571-5651647-4652-170-156570-111-108688
Net Cash Flow 31-197312-24-302-5730-3419-3757
Free Cash Flow -81430413775328-1,9407491-7239766-633
CFO/OP -117%63%21%128%50%-641%18%18%812%36%-38%-168%

Free Cash Flow

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Free Cash Flow598.0048.00-212.00-38.00989.00296.00455.00413.00-94.00253.00-174.00394.00

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 434549667084132185656311057
Inventory Days 1942192252062322274349541,4651,0123,0441,373
Days Payable 10512312614716057871504373
Cash Conversion Cycle 1321401471251422534799881,5261,0723,1471,428
Working Capital Days 6787988782146255508554355954796
ROCE %29%28%26%22%23%7%8%6%-1%5%-2%7%

Financial Efficiency Indicators Chart

Share Holding Pattern

MonthJun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Jan 2026
Promoters 54.53%54.53%54.53%54.53%54.53%54.53%43.52%39.98%40.08%37.61%37.19%40.94%
FIIs 1.04%0.84%0.78%0.93%2.57%3.31%5.55%5.06%4.92%6.46%6.31%5.59%
DIIs 1.45%1.49%1.45%1.45%1.45%1.47%1.26%9.37%9.07%8.23%7.08%6.28%
Public 42.98%43.15%43.24%43.08%41.45%40.69%49.66%45.59%45.93%47.70%49.44%47.18%
No. of Shareholders 2,01,2462,25,9162,30,3522,10,4002,09,5392,59,2314,12,0904,61,2104,76,6587,57,3408,36,2388,30,187

Shareholding Pattern Chart

No. of Shareholders

PC Jeweller 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 1.0010.0010.0010.0010.00
Basic EPS (Rs.) 1.13-13.52-4.37-8.401.53
Diluted EPS (Rs.) 0.66-13.52-4.37-8.401.53
Cash EPS (Rs.) 0.93-13.09-3.78-7.802.08
Book Value[Excl.RevalReserv]/Share (Rs.) 9.7462.9879.3083.5691.73
Book Value[Incl.RevalReserv]/Share (Rs.) 9.7462.9879.3083.5691.73
Revenue From Operations / Share (Rs.) 3.5313.0153.1334.5160.73
PBDIT / Share (Rs.) 0.82-2.298.84-0.929.38
PBIT / Share (Rs.) 0.79-2.738.25-1.528.63
PBT / Share (Rs.) 0.71-13.57-2.32-10.920.16
Net Profit / Share (Rs.) 0.90-13.52-4.37-8.401.33
NP After MI And SOA / Share (Rs.) 0.90-13.52-4.37-8.401.33
PBDIT Margin (%) 23.24-17.6416.63-2.6715.44
PBIT Margin (%) 22.44-21.0115.53-4.3914.21
PBT Margin (%) 20.16-104.35-4.36-31.630.27
Net Profit Margin (%) 25.73-103.95-8.21-24.342.19
NP After MI And SOA Margin (%) 25.73-103.95-8.21-24.342.19
Return on Networth / Equity (%) 9.32-21.46-5.50-10.051.45
Return on Capital Employeed (%) 8.05-4.2710.18-1.779.20
Return On Assets (%) 6.86-8.65-2.66-5.180.78
Total Debt / Equity (X) 0.331.390.980.840.53
Asset Turnover Ratio (%) 0.280.080.320.200.33
Current Ratio (X) 3.301.371.632.022.16
Quick Ratio (X) 0.210.050.130.430.48
Inventory Turnover Ratio (X) 0.360.090.350.180.52
Interest Coverage Ratio (X) 10.17-0.210.83-0.091.11
Interest Coverage Ratio (Post Tax) (X) 12.26-0.240.580.101.16
Enterprise Value (Cr.) 10301.056580.154831.864190.563375.51
EV / Net Operating Revenue (X) 4.5910.871.952.611.19
EV / EBITDA (X) 19.74-61.5911.75-97.667.73
MarketCap / Net Operating Revenue (X) 3.704.130.500.600.44
Price / BV (X) 1.340.850.330.240.29
Price / Net Operating Revenue (X) 3.704.130.500.600.44
EarningsYield 0.06-0.25-0.16-0.400.04

Profitability Ratios (%)

Liquidity Ratios

Liquidity Ratios (%)

Interest Coverage Ratios (%)

Valuation Ratios

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. 2243.25 Cr. and Equity Capital is Rs. 635.53 Cr. for the Year ended 31/03/2025.
INDUSTRYADDRESSCONTACT
Gems, Jewellery & Precious Metals2713, 3rd Floor, Bank Street, New Delhi Delhi 110005Contact not found
Management
NamePosition Held
Mr. Balram GargManaging Director
Mr. Ramesh Kumar SharmaExecutive Director
Mr. Vishan DeoExecutive Director (Finance) & CFO
Mrs. Sannovanda Machaiah SwathiIndependent Director
Mr. Farangi Lal KansalIndependent Director
Mr. Mahesh AgarwalIndependent Director

FAQ

What is the intrinsic value of PC Jeweller Ltd and is it undervalued?

As of 15 April 2026, PC Jeweller Ltd's intrinsic value is ₹10.81, which is 31.03% higher than the current market price of ₹8.25, suggesting the stock is undervalued. This is calculated using the PE ratio method factoring in ROE (12.7 %), book value (₹9.88), dividend yield (0.00 %), and 5-year EPS CAGR.

What is the current share price and 52-week range of PC Jeweller Ltd?

PC Jeweller Ltd is trading at ₹8.25 as of 15 April 2026, with a FY2026-2027 high of ₹19.6 and low of ₹7.45. The stock is currently near its 52-week low. Market cap stands at ₹6,904 Cr..

How does PC Jeweller Ltd's P/E ratio compare to its industry?

PC Jeweller Ltd has a P/E ratio of 10.5, which is below the industry average of 114.74. Trading at a steep discount to peers could signal a value opportunity or reflect concerns about the company's fundamentals.

Is PC Jeweller Ltd financially healthy?

Key indicators for PC Jeweller Ltd: ROCE of 6.55 % is on the lower side compared to the industry average of 6.50%. Dividend yield is 0.00 %.

Is PC Jeweller Ltd profitable and how is the profit trend?

PC Jeweller Ltd reported a net profit of ₹578 Cr in Mar 2025 on revenue of ₹2,244 Cr. Compared to ₹-391 Cr in Mar 2022, the net profit shows an improving trend.

Does PC Jeweller Ltd pay dividends?

PC Jeweller Ltd has a dividend yield of 0.00 % at the current price of ₹8.25. 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 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
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