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Last Updated on: 25 June, 2024|Author: Getaka | Social: X Twitter Profile

Fundamental Analysis of PC Jeweller Ltd

Basic Stock Data

Last Updated: June 25, 2024, 10:27 pm

Market Cap 2,452 Cr.
Current Price 52.7
High / Low66.6/25.4
Stock P/E
Book Value 63.0
Dividend Yield0.00 %
ROCE1.75 %
ROE19.0 %
Face Value 10.0
PEG Ratio0.00

Competitors of PC Jeweller Ltd

Stock NameMarket CapCurrent PriceHigh / LowStock P/EBook ValueDividend YieldROCEROEFace Value
Shubhlaxmi Jewel Art Ltd 28.3 Cr. 32.299.0/31.223.2 24.60.00 %9.44 %6.80 % 10.0
Rajesh Exports Ltd 8,455 Cr. 286564/25925.2 5160.00 %3.23 %2.24 % 1.00
Parshva Enterprises Ltd 172 Cr. 171269/144613 13.50.00 %3.78 %2.33 % 10.0
Silgo Retail Ltd 62.7 Cr. 33.941.0/17.419.9 29.20.00 %9.95 %7.43 % 10.0
Renaissance Global Ltd 1,001 Cr. 104146/93.013.8 1190.00 %7.98 %6.66 % 2.00
Industry Average1,946.94 Cr293.89103.81129.340.06%7.99%10.67%7.57

Quarterly Result

MonthDec 2020Mar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023
Sales1,4678682475606111895478988541736844940
Expenses1,240740228520575379463750818205111503113
Operating Profit227128184036-1908514736-32-43-54-73
OPM %15%15%7%7%6%-101%15%16%4%-18%-64%-12%-182%
Other Income3315-3239766129105453
Interest999593108123114122122125124125124126
Depreciation9877777777755
Profit before tax12228-67-78-91-2733379-67-152-170-137-201
Tax %-6%-115%2%-1%19%37%-129%-9%9%-98%-1%-1%1%
Net Profit13060-66-79-74-1737486-61-302-172-138-198
EPS in Rs3.281.28-1.41-1.70-1.58-3.721.601.85-1.31-6.50-3.69-2.97-4.25

Last Updated: June 11, 2024, 3:11 am

Quarterly Chart

Profit & Loss - Annual Report

Last Updated: May 27, 2024, 5:39 am

MonthMar 2012Mar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023TTM
Sales3,0383,9905,3256,3617,3018,4649,6108,6725,2062,8251,6052,472730
Expenses2,7073,5074,7265,6316,5437,6998,6208,3744,7492,4101,6962,216932
Operating Profit332482599730758765990298457415-91256-202
OPM %11%12%11%11%10%9%10%3%9%15%-6%10%-28%
Other Income172036595097927780245316363
Interest77127153227251286324354374396442499498
Depreciation7101223232221193735282723
Profit before tax26536546954053455473721258-508-108-660
Tax %13%20%24%30%25%24%27%70%34%-694%23%-88%
Net Profit23129135637839842153618362-391-203-810
EPS in Rs8.628.129.9510.5611.1211.7513.580.022.101.33-8.40-4.37-17.41
Dividend Payout %0%6%15%15%15%4%4%0%0%0%0%0%

Profit & Loss Yearly Chart

YoY Net Profit Growth

Year2012-20132013-20142014-20152015-20162016-20172017-20182018-20192019-20202020-20212021-20222022-2023
YoY Net Profit Growth (%)25.97%22.34%6.18%5.29%5.78%27.32%-99.81%8200.00%-25.30%-730.65%48.08%
Change in YoY Net Profit Growth (%)0.00%-3.64%-16.16%-0.89%0.49%21.54%-127.13%8299.81%-8225.30%-705.34%778.73%

Growth

Compounded Sales Growth
10 Years:-20%
5 Years:-41%
3 Years:-40%
TTM:-76%
Compounded Profit Growth
10 Years:%
5 Years:%
3 Years:%
TTM:-210%
Stock Price CAGR
10 Years:-1%
5 Years:3%
3 Years:25%
1 Year:100%
Return on Equity
10 Years:2%
5 Years:-6%
3 Years:-11%
Last Year:-19%

Last Updated: June 25, 2024, 4:57 pm

Balance Sheet

Last Updated: June 1, 2024, 9:48 am

MonthMar 2012Mar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Sep 2023
Equity Capital134179179179179179394395395465465465465
Reserves4211,2101,5031,8112,2303,1733,4873,5263,6083,8043,4233,2252,783
Preference Capital-0-0-0-0-0-013-0-0-0-0-0
Borrowings5782331,0046829708031,1022,1212,4292,4143,3913,7363,911
Other Liabilities9641,8131,5462,0522,3713,2424,0011,6081,4651,214266209193
Total Liabilities2,0973,4354,2334,7245,7517,3978,9847,6497,8977,8987,5457,6367,352
Fixed Assets666384909188937416913912111579
CWIP111-0-0-0111-0-011
Investments-04431851389198815322
Other Assets2,0312,9293,9634,6215,6527,2998,8727,5667,7207,7447,4217,5187,269
Total Assets2,0973,4354,2334,7245,7517,3978,9847,6497,8977,8987,5457,6367,352

Reserves and Borrowings Chart

PC Jeweller Ltd Cash Flow

MonthMar 2012Mar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023
Cash from Operating Activity -337520-78633316794358-1,9317691-719100
Cash from Investing Activity -30-592246213-25-530-378978389411530
Cash from Financing Activity 359141571-5651647-4652-170-156570-111
Net Cash Flow-86831-197312-24-302-5730-3419

Free Cash Flow

MonthMar 2012Mar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023
Free Cash Flow332.00482.00599.00730.00758.00765.00977.00298.00457.00415.00-91.00256.00

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 2012Mar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023
Debtor Days82624345496670841321856563
Inventory Days1701861942192252062322274349541,4651,012
Days Payable124176105123126147160578715043
Cash Conversion Cycle129711321401471251422534799881,5261,072
Working Capital Days111691361261421141212344178081,307896
ROCE %36%29%28%26%22%23%7%8%6%-1%5%

Financial Efficiency Indicators Chart

Share Holding Pattern

MonthJun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 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%
FIIs0.59%0.79%0.80%0.99%1.12%1.41%2.15%1.65%1.04%0.84%0.78%0.93%
DIIs1.50%1.49%1.49%1.49%1.49%1.49%1.45%1.45%1.45%1.49%1.45%1.45%
Public43.38%43.19%43.17%42.97%42.85%42.56%41.87%42.36%42.98%43.15%43.24%43.08%
No. of Shareholders2,23,7762,18,7692,19,3322,16,6192,06,8111,87,3831,72,8811,93,1852,01,2462,25,9162,30,3522,10,400

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: 183.14

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.

Undervalued: 247.52% compared to the current price 52.7

Default values used*: Deafault value of 15 for Stock P/E is used

Intrinsic Value: 100.09

Calculation basis:

  • Fair 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 fair value of the stock by analyzing its fundamental indicators along with EPS growth.

Undervalued: 89.92% compared to the current price ₹52.7

Default values used*: Deafault value of 15 for Stock P/E is used

Last 5 Year EPS CAGR: -45.35%

*Investments are subject to market risks

Strength and Weakness

StrengthWeakness
  1. The stock has a high average ROCE of 15.75%, which is a positive sign.
  2. The company has higher reserves (2,631.08 cr) compared to borrowings (1.00 cr), indicating strong financial stability.
  3. The company has shown consistent growth in sales (60.69 cr) and profit (178.69 cr) over the years.
  1. The stock has a high average Working Capital Days of 264.58, which may not be favorable.
  2. The stock has a high average Cash Conversion Cycle of 217.33, 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: %)
      • 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: %)
      • 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: (Industry average Stock P/E: )
      • 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

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 MetailsC - 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 fair value of PC Jeweller Ltd?

The latest fair value of PC Jeweller Ltd is ₹183.14.

What is the Market Cap of PC Jeweller Ltd?

The Market Cap of PC Jeweller Ltd is 2,452 Cr..

What is the current Stock Price of PC Jeweller Ltd as on 25 June 2024?

The current stock price of PC Jeweller Ltd as on 25 June 2024 is ₹52.7.

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 66.6/25.4.

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

The Stock P/E of PC Jeweller Ltd is .

What is the Book Value of PC Jeweller Ltd?

The Book Value of PC Jeweller Ltd is 63.0.

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 1.75 %.

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