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Last Updated: April 2, 2026, 3:40 am
Author: Getaka|Social: XLinkedIn

Shubhlaxmi Jewel Art Ltd: Intrinsic Value & Share Price Analysis

Fair Value

₹7.55Overvalued by 67.87%vs CMP ₹23.50

P/E (9.6) × ROE (4.1%) × BV (₹23.80) × DY (2.00%)

₹27.13Undervalued by 15.45%vs CMP ₹23.50
MoS: +13.4% (Thin)Confidence: 43/100 (Low)Models: 4 Under, 2 Fair, 2 Over
ModelCategoryValueWeightSignal
PE-ROEEarnings₹9.1526%Over (-61.1%)
Graham NumberEarnings₹36.3019%Under (+54.5%)
DCFCash Flow₹48.8612%Under (+107.9%)
Net Asset ValueAssets₹23.788%Fair (+1.2%)
EV/EBITDAEnterprise₹11.3110%Over (-51.9%)
Earnings YieldEarnings₹24.608%Fair (+4.7%)
ROCE CapitalReturns₹50.7610%Under (+116%)
Revenue MultipleRevenue₹25.916%Under (+10.3%)
Consensus (8 models)₹27.13100%Undervalued
Key Drivers: ROE 4.1% is below cost of equity. | Wide model spread (₹9–₹51) — high uncertainty.

PE-ROE · Graham · EPV · DCF · NAV · EV/EBITDA · DDM · Earnings Yield · ROCE Capital · Revenue Multiple | CoE: 12% · Terminal: 4% · EPS CAGR: 21.2%

*Investments are subject to market risks

Investment Snapshot

56
Shubhlaxmi Jewel Art Ltd scores 56/100 (Average)
Based on 5 dimensions: health, institutional flow, earnings quality, momentum, and peer comparison
Stock Health59/100 · Moderate
ROCE 8.0% WeakROE 4.1% WeakD/E 0.28 Low debtInterest Coverage 0.0x RiskyProfitable 5/5 years Consistent
Smart Money60/100 · Moderate
Promoter increased by 7.44% Positive
Earnings Quality40/100 · Moderate
OPM stable around 4% SteadyWorking capital: 154 days Capital intensive
Quarterly Momentum65/100 · Strong
Revenue (4Q): -16% YoY DecliningProfit (4Q): +66% YoY StrongOPM: 18.5% (up 12.7% YoY) Margin expansion
Industry Rank60/100 · Moderate
P/E 9.6 vs industry 114.7 Cheaper than peersROCE 8.0% vs industry 6.5% Above peersROE 4.1% vs industry 9.0% Below peers3Y sales CAGR: -4% Shrinking

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, 3:40 am

Market Cap 24.9 Cr.
Current Price 23.5
Intrinsic Value₹27.13
High / Low 40.0/13.4
Stock P/E9.55
Book Value 23.8
Dividend Yield0.00 %
ROCE7.98 %
ROE4.07 %
Face Value 10.0
PEG Ratio0.45

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

View Share Price Target for Shubhlaxmi Jewel Art Ltd

Competitors

Stock Name ⇩Market Cap ⇩Current Price ⇩High / Low ⇩Stock P/E ⇩Book Value ⇩Dividend Yield ⇩ROCE ⇩ROE ⇩Face Value ⇩
Shubhlaxmi Jewel Art Ltd 24.9 Cr. 23.5 40.0/13.49.55 23.80.00 %7.98 %4.07 % 10.0
PC Jeweller Ltd 6,904 Cr. 8.25 19.6/7.4510.5 9.880.00 %6.55 %12.7 % 1.00
Renaissance Global Ltd 1,093 Cr. 102 148/85.011.9 1350.00 %7.39 %6.02 % 2.00
Rajesh Exports Ltd 2,458 Cr. 83.3 239/80.414.6 5620.00 %1.47 %0.61 % 1.00
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 Shubhlaxmi Jewel Art Ltd

Quarterly Result

MetricSep 2019Mar 2020Sep 2020Mar 2021Sep 2021Mar 2022Sep 2022Mar 2023Sep 2023Mar 2024Sep 2024Mar 2025Sep 2025
Sales 22.4531.028.4620.7023.7137.9935.7441.8626.7241.6423.9831.1122.38
Expenses 21.4329.577.2319.1422.8436.9434.7340.6325.1740.9322.0430.3018.25
Operating Profit 1.021.451.231.560.871.051.011.231.550.711.940.814.13
OPM % 4.54%4.67%14.54%7.54%3.67%2.76%2.83%2.94%5.80%1.71%8.09%2.60%18.45%
Other Income 0.000.000.050.000.000.000.050.330.370.360.000.000.02
Interest 0.390.340.340.240.250.500.400.700.550.550.590.650.55
Depreciation 0.070.070.070.070.060.060.060.080.090.110.080.070.07
Profit before tax 0.561.040.871.250.560.490.600.781.280.411.270.093.53
Tax % 23.21%25.00%25.29%24.80%26.79%22.45%26.67%26.92%27.34%29.27%26.77%133.33%25.50%
Net Profit 0.430.780.650.950.410.370.440.570.930.290.93-0.022.63
EPS in Rs 0.520.940.781.140.490.450.500.650.880.270.88-0.022.48

Last Updated: December 29, 2025, 3:58 am

Quarterly Chart

Profit & Loss - Annual Report

Last Updated: December 15, 2025, 4:38 am

MetricMar 2019n n 11mMar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025TTM
Sales 51.2353.0929.1261.4977.2668.0754.9053.49
Expenses 48.8050.6226.3359.4674.8865.6952.0248.55
Operating Profit 2.432.472.792.032.382.382.884.94
OPM % 4.74%4.65%9.58%3.30%3.08%3.50%5.25%9.24%
Other Income 0.010.000.050.000.380.690.000.02
Interest 0.750.730.580.861.231.191.361.20
Depreciation 0.330.140.150.120.140.200.150.14
Profit before tax 1.361.602.111.051.391.681.373.62
Tax % 25.74%24.38%24.17%24.76%26.62%27.38%32.85%
Net Profit 1.001.211.590.781.021.220.902.61
EPS in Rs 1.201.461.910.941.161.150.852.46
Dividend Payout % 0.00%0.00%0.00%0.00%0.00%0.00%0.00%

Profit & Loss Yearly Chart

YoY Net Profit Growth

Year2020-20212021-20222022-20232023-20242024-2025
YoY Net Profit Growth (%)31.40%-50.94%30.77%19.61%-26.23%
Change in YoY Net Profit Growth (%)0.00%-82.35%81.71%-11.16%-45.84%

Shubhlaxmi Jewel Art Ltd has shown an inconsistent trend in YoY Net Profit Growth (%) in the last 5 years from 2020-2021 to 2024-2025.

Growth

Compounded Sales Growth
10 Years:%
5 Years:1%
3 Years:-4%
TTM:-19%
Compounded Profit Growth
10 Years:%
5 Years:-6%
3 Years:5%
TTM:-28%
Stock Price CAGR
10 Years:%
5 Years:-10%
3 Years:-25%
1 Year:-43%
Return on Equity
10 Years:%
5 Years:6%
3 Years:5%
Last Year:4%

Last Updated: September 5, 2025, 1:31 pm

Balance Sheet

Last Updated: December 4, 2025, 1:58 am

MonthMar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Sep 2025
Equity Capital 8.308.308.308.308.8010.6010.6010.60
Reserves 4.335.547.138.729.7611.0711.9714.60
Borrowings 7.707.105.016.5511.5310.5513.5912.26
Other Liabilities 4.131.824.272.934.203.665.5212.04
Total Liabilities 24.4622.7624.7126.5034.2935.8841.6849.50
Fixed Assets 1.992.041.891.791.941.921.841.78
CWIP 0.000.000.000.000.000.000.000.00
Investments 0.000.000.000.000.000.000.000.00
Other Assets 22.4720.7222.8224.7132.3533.9639.8447.72
Total Assets 24.4622.7624.7126.5034.2935.8841.6849.50

Reserves and Borrowings Chart

Cash Flow

MonthMar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Cash from Operating Activity + -14.721.052.35-1.891.23-0.47-1.70
Cash from Investing Activity + -2.32-0.19-0.01-0.020.090.50-0.07
Cash from Financing Activity + 17.62-1.00-2.591.86-1.16-0.181.87
Net Cash Flow 0.57-0.14-0.25-0.050.16-0.140.10
Free Cash Flow -17.040.862.34-1.910.94-0.70-1.77
CFO/OP -592%60%103%-78%65%-4%-48%

Free Cash Flow

MonthMar 2019n n 11mMar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Free Cash Flow2.43-4.63-2.22-4.52-9.15-8.17-10.71

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 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Debtor Days 11.768.8015.7912.826.669.127.58
Inventory Days 154.36145.68329.99136.97124.92186.58288.91
Days Payable 23.774.4133.275.197.407.149.26
Cash Conversion Cycle 142.34150.07312.51144.60124.18188.55287.22
Working Capital Days 82.7987.45168.84101.7490.19118.45153.98
ROCE %11.29%13.00%8.68%9.77%9.34%7.98%

Financial Efficiency Indicators Chart

Share Holding Pattern

MonthMar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Promoters 65.79%65.79%64.95%64.95%64.95%60.21%60.21%58.87%56.29%56.29%56.20%63.64%
Public 34.21%34.21%35.05%35.05%35.05%39.79%39.79%41.13%43.71%43.71%43.80%36.36%
No. of Shareholders 516516556587595693810929907919910798

Shareholding Pattern Chart

No. of Shareholders

Shubhlaxmi Jewel Art 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 10.0010.0010.0010.0010.00
Basic EPS (Rs.) 0.851.221.180.941.92
Diluted EPS (Rs.) 0.851.221.010.911.92
Cash EPS (Rs.) 0.991.341.311.092.10
Book Value[Excl.RevalReserv]/Share (Rs.) 21.2920.4321.0820.5018.59
Book Value[Incl.RevalReserv]/Share (Rs.) 21.2920.4321.0820.5018.59
Revenue From Operations / Share (Rs.) 51.9564.4688.1474.3135.12
PBDIT / Share (Rs.) 2.602.812.982.313.42
PBIT / Share (Rs.) 2.452.632.822.163.25
PBT / Share (Rs.) 1.281.591.581.262.54
Net Profit / Share (Rs.) 0.851.151.150.931.92
PBDIT Margin (%) 5.004.363.383.109.75
PBIT Margin (%) 4.724.073.202.909.24
PBT Margin (%) 2.472.461.781.697.23
Net Profit Margin (%) 1.641.781.301.265.46
Return on Networth / Equity (%) 4.005.625.474.5710.32
Return on Capital Employeed (%) 10.2711.4811.619.3617.23
Return On Assets (%) 2.163.392.962.936.45
Long Term Debt / Equity (X) 0.110.110.140.110.01
Total Debt / Equity (X) 0.600.480.620.380.28
Asset Turnover Ratio (%) 1.421.952.552.411.23
Current Ratio (X) 2.432.912.503.352.51
Quick Ratio (X) 0.120.210.610.510.20
Inventory Turnover Ratio (X) 1.600.000.000.000.00
Interest Coverage Ratio (X) 2.222.712.392.564.87
Interest Coverage Ratio (Post Tax) (X) 1.732.111.932.043.73
Enterprise Value (Cr.) 32.6498.6346.9017.7916.00
EV / Net Operating Revenue (X) 0.591.440.600.280.54
EV / EBITDA (X) 11.8433.0617.869.285.63
MarketCap / Net Operating Revenue (X) 0.351.290.450.180.40
Price / BV (X) 0.854.071.920.660.76
Price / Net Operating Revenue (X) 0.351.290.450.180.40
EarningsYield 0.040.010.020.060.13

Profitability Ratios (%)

Liquidity Ratios

Liquidity Ratios (%)

Interest Coverage Ratios (%)

Valuation Ratios

About the Company - Qualitative Analysis

Shubhlaxmi Jewel Art Ltd. is a Public Limited Listed company incorporated on 02/05/2018 and has its registered office in the State of Gujarat, India. Company's Corporate Identification Number(CIN) is L45100GJ2018PLC102121 and registration number is 102121. Currently Company is involved in the business activities of Manufacture of jewellery and related articles. Company's Total Operating Revenue is Rs. 55.09 Cr. and Equity Capital is Rs. 10.60 Cr. for the Year ended 31/03/2025.
INDUSTRYADDRESSCONTACT
Gems, Jewellery & Precious MetalsShop No. 1, Ground Floor, D & I Excelus, Bhavnagar Gujarat 364002Contact not found
Management
NamePosition Held
Mr. Narendrasinh Jesingbhai ChauhanChairman & Managing Director
Mrs. Gohil Manishben DhirabhaiAdditional Executive Director
Mr. Neelabh KaushikIndependent Director
Mr. Anandan SengundamudaliarAddnl. & Ind.Director
Mr. Bikash TarafdarAddnl.Independent Director

FAQ

What is the intrinsic value of Shubhlaxmi Jewel Art Ltd and is it undervalued?

As of 14 April 2026, Shubhlaxmi Jewel Art Ltd's intrinsic value is ₹27.13, which is 15.45% higher than the current market price of ₹23.50, suggesting the stock is undervalued. This is calculated using the PE ratio method factoring in ROE (4.07 %), book value (₹23.8), dividend yield (0.00 %), and 5-year EPS CAGR.

What is the current share price and 52-week range of Shubhlaxmi Jewel Art Ltd?

Shubhlaxmi Jewel Art Ltd is trading at ₹23.50 as of 14 April 2026, with a FY2026-2027 high of ₹40.0 and low of ₹13.4. The stock is currently in the middle of its 52-week range. Market cap stands at ₹24.9 Cr..

How does Shubhlaxmi Jewel Art Ltd's P/E ratio compare to its industry?

Shubhlaxmi Jewel Art Ltd has a P/E ratio of 9.55, 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 Shubhlaxmi Jewel Art Ltd financially healthy?

Key indicators for Shubhlaxmi Jewel Art Ltd: ROCE of 7.98 % is on the lower side compared to the industry average of 6.50%; ROE of 4.07 % is below ideal levels (industry average: 8.99%). Dividend yield is 0.00 %.

Is Shubhlaxmi Jewel Art Ltd profitable and how is the profit trend?

Shubhlaxmi Jewel Art Ltd reported a net profit of ₹1 Cr in Mar 2025 on revenue of ₹55 Cr. Compared to ₹1 Cr in Mar 2022, the net profit shows an improving trend.

Does Shubhlaxmi Jewel Art Ltd pay dividends?

Shubhlaxmi Jewel Art Ltd has a dividend yield of 0.00 % at the current price of ₹23.50. 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 Shubhlaxmi Jewel Art 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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