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Last Updated on: 22 December, 2024
Author: Getaka|Social: Getaka Financial Technology X (Earlier Twitter) Profile Getaka Financial Technology LinkedIn Logo

Thangamayil Jewellery Ltd: Fundamental Analysis, Share Price Insights & Intrinsic Value (2024)

Share Price and Basic Stock Data

Last Updated: December 21, 2024, 1:44 am

Market Cap 5,517 Cr.
Current Price 2,011
High / Low 2,650/1,140
Stock P/E57.9
Book Value 188
Dividend Yield0.50 %
ROCE20.3 %
ROE28.0 %
Face Value 10.0
PEG Ratio8.36

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

View Share Price Target for

Competitors of

Stock NameMarket CapCurrent PriceHigh / LowStock P/EBook ValueDividend YieldROCEROEFace Value
Thangamayil Jewellery Ltd 5,517 Cr. 2,011 2,650/1,14057.9 1880.50 %20.3 %28.0 % 10.0
Silgo Retail Ltd 70.1 Cr. 37.9 53.4/23.019.6 30.10.00 %10.1 %7.43 % 10.0
Shubhlaxmi Jewel Art Ltd 24.5 Cr. 27.8 92.8/24.020.1 25.70.00 %9.34 %6.21 % 10.0
Renaissance Global Ltd 1,697 Cr. 176 196/87.422.9 1240.00 %8.25 %6.51 % 2.00
Rajesh Exports Ltd 6,968 Cr. 236 380/227182 5260.00 %3.23 %2.24 % 1.00
Industry Average4,687.80 Cr336.96218.64117.210.06%7.23%11.61%6.75

All Competitor Stocks of

Quarterly Result

MonthJun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024
Sales2507056316098268137457729609938969831,222
Expenses2526616055887907827157138689698459331,130
Operating Profit-3442621363230599224515092
OPM %-1%6%4%3%4%4%4%8%10%2%6%5%7%
Other Income0000000000000
Interest567888911109999
Depreciation2233232634455
Profit before tax-10361610262119427912383677
Tax %-24%25%28%24%27%25%26%26%26%32%26%22%27%
Net Profit-72711819161431598282857
EPS in Rs-2.729.754.132.916.935.825.0311.3221.393.0610.2010.2920.61

Last Updated: Unknown

Quarterly Chart

Profit & Loss - Annual Report

Last Updated: Unknown

MonthMar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024TTM
Sales1,5231,1911,4211,2721,2991,3791,4431,6921,8192,1933,1533,8274,094
Expenses1,4401,1771,4181,2281,2511,3201,3731,5941,6722,1073,0003,6143,877
Operating Profit83153434859719814786153212217
OPM %5%1%0%3%4%4%5%6%8%4%5%6%5%
Other Income2523123322350
Interest37352924211920212326353635
Depreciation568898810910131618
Profit before tax43-21-33141934466911752108165163
Tax %31%-39%-32%26%28%33%34%34%26%26%26%25%
Net Profit30-13-221114233046873980123121
EPS in Rs10.81-4.59-8.133.845.108.3511.0416.6631.6014.0729.1044.9144.16
Dividend Payout %23%-11%-6%13%20%21%23%15%16%36%21%22%

Profit & Loss Yearly Chart

YoY Net Profit Growth

Year2013-20142014-20152015-20162016-20172017-20182018-20192019-20202020-20212021-20222022-20232023-2024
YoY Net Profit Growth (%)-143.33%-69.23%150.00%27.27%64.29%30.43%53.33%89.13%-55.17%105.13%53.75%
Change in YoY Net Profit Growth (%)0.00%74.10%219.23%-122.73%37.01%-33.85%22.90%35.80%-144.30%160.30%-51.38%

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:12%
5 Years:22%
3 Years:28%
TTM:23%
Compounded Profit Growth
10 Years:28%
5 Years:32%
3 Years:12%
TTM:-15%
Stock Price CAGR
10 Years:34%
5 Years:64%
3 Years:46%
1 Year:43%
Return on Equity
10 Years:18%
5 Years:24%
3 Years:22%
Last Year:28%

Last Updated: Unknown

Balance Sheet

Last Updated: November 14, 2024, 7:30 pm

MonthMar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Sep 2024
Equity Capital14141414141414141414142727
Reserves154140115124136155179206284311375466489
Borrowings239236185146119229178260323417571532800
Other Liabilities18989101118168213282235154163287456553
Total Liabilities5954794144024376116527157759051,2471,4811,869
Fixed Assets74827478727471817984120154161
CWIP4781111227225
Investments0000000000000
Other Assets5183903323233645365806336948141,1251,3251,702
Total Assets5954794144024376116527157759051,2471,4811,869

Reserves and Borrowings Chart

Cash Flow

MonthMar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024
Cash from Operating Activity +10849827369-5385-3955-7910330
Cash from Investing Activity +-18-17-3-5-6-27-17818-21-86-30
Cash from Financing Activity +-70-45-90-64-5674-6224-649478-293
Net Cash Flow20-12-1147-65-78-728

Free Cash Flow

MonthMar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024
Free Cash Flow-156.00-221.00-182.00-103.00-71.00-170.00-107.00-162.00-176.00-331.00-418.00-320.00

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 Days000000101000
Inventory Days125113778796140143139149139127128
Days Payable34291427172193132
Cash Conversion Cycle92111687369123122130146138125126
Working Capital Days7385474438645474941038673
ROCE %20%4%-1%13%15%16%17%21%25%11%17%20%

Financial Efficiency Indicators Chart

Share Holding Pattern

MonthDec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024
Promoters66.66%66.66%66.66%66.66%66.66%67.16%67.16%67.16%67.32%67.33%67.33%61.28%
FIIs1.81%1.19%0.16%0.17%0.16%0.16%0.20%0.25%0.74%0.98%1.08%4.52%
DIIs10.51%11.51%11.49%11.46%11.46%11.46%11.46%11.39%11.40%11.51%12.08%12.77%
Public21.02%20.64%21.69%21.71%21.71%21.21%21.17%21.20%20.52%20.17%19.50%21.42%
No. of Shareholders11,04412,29611,44612,61814,89014,89620,91729,60432,95433,84733,13540,908

Shareholding Pattern Chart

No. of Shareholders

Mutual Fund Holdings

Fund NameNo of SharesAUM (%)Amount Invested (Cr)Previous Number of SharesPrevious DatePercentage Change
DSP Small Cap Fund1,337,3841.48199.451,140,0002024-12-1817.31%
SBI Small Cap Fund1,140,0000.72170.011,140,0002024-12-180%
SBI Conservative Hybrid Fund500,0000.7368.591,140,0002024-12-18-56.14%
SBI Conservative Hybrid Fund - Div (Annual)500,0000.7368.591,140,0002024-12-18-56.14%
SBI Conservative Hybrid Fund - Div (Monthly)500,0000.7368.591,140,0002024-12-18-56.14%
SBI Magnum Childrens Benefit Fund - Investment Plan143,8471.4321.451,140,0002024-12-18-87.38%
SBI Magnum Children Benefit Plan7,0000.90.961,140,0002024-12-18-99.39%

ROCE Trend

EPS Trend

Key Financial Ratios

MonthMar 24Mar 23Mar 22Mar 21Mar 20
FaceValue10.0010.0010.0010.0010.00
Basic EPS (Rs.)44.9158.1328.0963.1133.01
Diluted EPS (Rs.)44.9158.1328.0963.1133.01
Cash EPS (Rs.)50.8767.8835.1370.0140.70
Book Value[Excl.RevalReserv]/Share (Rs.)179.73283.38236.35217.15160.46
Book Value[Incl.RevalReserv]/Share (Rs.)179.73283.38236.35217.15160.46
Dividend / Share (Rs.)10.0012.0010.0010.005.00
Revenue From Operations / Share (Rs.)1394.602297.841598.491325.561233.24
PBDIT / Share (Rs.)79.36113.8964.04108.8673.44
PBIT / Share (Rs.)73.40104.1357.01101.9566.01
PBT / Share (Rs.)60.1678.6737.9285.2650.59
Net Profit / Share (Rs.)44.9158.1228.0963.1133.28
PBDIT Margin (%)5.694.954.008.215.95
PBIT Margin (%)5.264.533.567.695.35
PBT Margin (%)4.313.422.376.434.10
Net Profit Margin (%)3.222.521.754.762.69
Return on Networth / Equity (%)24.9820.5011.8829.0620.73
Return on Capital Employeed (%)31.9226.3617.7838.0031.90
Return On Assets (%)8.326.394.2511.176.38
Long Term Debt / Equity (X)0.230.340.320.200.24
Total Debt / Equity (X)1.011.411.110.901.07
Asset Turnover Ratio (%)2.812.932.612.442.47
Current Ratio (X)1.541.581.721.681.44
Quick Ratio (X)0.130.180.100.080.13
Inventory Turnover Ratio (X)3.163.152.792.692.77
Dividend Payout Ratio (NP) (%)15.5818.9232.039.5036.22
Dividend Payout Ratio (CP) (%)13.7616.2025.618.5629.61
Earning Retention Ratio (%)84.4281.0867.9790.5063.78
Cash Earning Retention Ratio (%)86.2483.8074.3991.4470.39
Interest Coverage Ratio (X)5.994.473.366.524.76
Interest Coverage Ratio (Post Tax) (X)4.393.282.474.783.16
Enterprise Value (Cr.)3954.631848.211832.921057.20534.96
EV / Net Operating Revenue (X)1.030.580.830.580.31
EV / EBITDA (X)18.1611.8320.867.085.31
MarketCap / Net Operating Revenue (X)0.920.430.670.440.19
Retention Ratios (%)84.4181.0767.9690.4963.77
Price / BV (X)7.173.544.592.701.50
Price / Net Operating Revenue (X)0.920.430.670.440.19
EarningsYield0.030.050.020.100.13

Profitability Ratios (%)

Liquidity Ratios

Liquidity Ratios (%)

Interest Coverage Ratios (%)

Valuation Ratios

Fair Value

Fair Value of as of December 22, 2024 is: 3,063.10

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 52.32% compared to the current share price 2,011.00

Intrinsic Value of as of December 22, 2024 is: 3,275.14

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 62.86% compared to the current share price 2,011.00

Last 5 Year EPS CAGR: 6.92%

*Investments are subject to market risks

Strength and Weakness

StrengthWeakness
  1. The company has shown consistent growth in sales (1.62 cr) and profit (59.69 cr) over the years.
  1. The stock has a low average ROCE of 14.83%, which may not be favorable.
  2. The stock has a high average Working Capital Days of 69.58, which may not be favorable.
  3. The stock has a high average Cash Conversion Cycle of 110.25, which may not be favorable.
  4. The company has higher borrowings (325.77) compared to reserves (241.08), which may suggest financial risk.
  • 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: 3.22%
      • 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: 31.92% (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%: 24.98% (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): 4.39
      • 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: 0.13
      • 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: 57.9 (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: 1.01
      • 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

Thangamayil Jewellery Ltd. is a Public Limited Listed company incorporated on 24/03/2000 and has its registered office in the State of Tamil Nadu, India. Company’s Corporate Identification Number(CIN) is L36911TN2000PLC044514 and registration number is 044514. Currently Company is involved in the business activities of Manufacture of jewellery and related articles. Company’s Total Operating Revenue is Rs. 2193.07 Cr. and Equity Capital is Rs. 13.72 Cr. for the Year ended 31/03/2022.
INDUSTRYADDRESSCONTACT
Gems, Jewellery & Precious MetalsNo.124, Nethaji Road, Madurai Tamil Nadu 625001companysecretary@thangamayil.com
http://www.thangamayil.com
Management
NamePosition Held
Mr. Balarama Govinda DasManaging Director
Mr. N B KumarJoint Managing Director
Mr. Ba RameshJoint Managing Director
Mrs. Yamuna Vasini Deva DasiNon Executive Director
Mr. S RethinaveluIndependent Director
Mr. Lalji VoraIndependent Director
Mr. V R MuthuIndependent Director
Mr. S M ChandrasekaranIndependent Director
Mrs. J RajakumariIndependent Director

FAQ

What is the latest intrinsic value of ?

The latest intrinsic value of as on 21 December 2024 is ₹3063.10, which is 52.32% higher than the current market price of ₹2,011.00. The stock has a market capitalization of 5,517 Cr. and recorded a high/low of 2,650/1,140 during the current fiscal year 2024-2025. As of Sep 2024, the company has reserves of ₹489 Cr and total liabilities of ₹1,869 Cr.

What is the Market Cap of ?

The Market Cap of is 5,517 Cr..

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

The current stock price of as on 21 December 2024 is 2,011.

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

In FY 2024-2025, the High / Low of stocks is 2,650/1,140.

What is the Stock P/E of ?

The Stock P/E of is 57.9.

What is the Book Value of ?

The Book Value of is 188.

What is the Dividend Yield of ?

The Dividend Yield of is 0.50 %.

What is the ROCE of ?

The ROCE of is 20.3 %.

What is the ROE of ?

The ROE of is 28.0 %.

What is the Face Value of ?

The Face Value of 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 . 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