Generic selectors
Exact matches only
Search in title
Search in content
Post Type Selectors
post
Last Updated on: 13 June, 2024|Author: Getaka | Social: X Twitter Profile

Fundamental Analysis of Thangamayil Jewellery Ltd

Basic Stock Data

Last Updated: June 12, 2024, 10:20 pm

Market Cap 3,853 Cr.
Current Price 1,404
High / Low1,550/722
Stock P/E31.3
Book Value 180
Dividend Yield0.42 %
ROCE20.3 %
ROE28.0 %
Face Value 10.0
PEG Ratio1.43

Competitors of Thangamayil Jewellery Ltd

Stock NameMarket CapCurrent PriceHigh / LowStock P/EBook ValueDividend YieldROCEROEFace Value
Parshva Enterprises Ltd 176 Cr. 175269/144627 13.50.00 %3.78 %2.33 % 10.0
Rajesh Exports Ltd 8,418 Cr. 285669/25925.1 5160.00 %3.23 %2.24 % 1.00
Penta Gold Ltd 11.6 Cr. 9.1537.8/7.60 23.10.00 %1.27 %21.2 % 10.0
Shubhlaxmi Jewel Art Ltd 30.6 Cr. 34.899.0/34.825.1 24.60.00 %9.44 %6.80 % 10.0
Silgo Retail Ltd 63.0 Cr. 34.041.0/17.420.0 29.20.00 %9.95 %7.43 % 10.0
Industry Average1,739.84 Cr107.59139.44121.280.00%5.53%8.00%8.20

Quarterly Result

MonthMar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024
Sales741250705631609826813745772960993896983
Expenses712252661605588790782715713868969845933
Operating Profit28-34426213632305992245150
OPM %4%-1%6%4%3%4%4%4%8%10%2%6%5%
Other Income-0-0-0-0-0-0-0-0-0-0-0-0-0
Interest656788891110999
Depreciation2223323263445
Profit before tax19-103616102621194279123836
Tax %29%24%25%28%24%27%25%26%26%26%32%26%22%
Net Profit14-727118191614315982828
EPS in Rs5.02-2.729.754.132.916.935.825.0311.3221.393.0610.2010.29

Last Updated: June 10, 2024, 6:19 am

Quarterly Chart

Profit & Loss - Annual Report

Last Updated: May 26, 2024, 3:10 pm

MonthMar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024
Sales1,5231,1911,4211,2721,2991,3791,4431,6921,8192,1933,1533,832
Expenses1,4401,1771,4181,2281,2511,3201,3731,5941,6722,1073,0003,614
Operating Profit83153434859719814786153218
OPM %5%1%0%3%4%4%5%6%8%4%5%6%
Other Income252312332230
Interest373529242119202123263536
Depreciation5688988109101316
Profit before tax43-21-33141934466911752108165
Tax %31%39%32%26%28%33%34%34%26%26%26%25%
Net Profit30-13-221114233046873980123
EPS in Rs10.81-4.59-8.133.845.108.3511.0416.6631.6014.0729.1044.91
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%

Growth

Compounded Sales Growth
10 Years:12%
5 Years:22%
3 Years:28%
TTM:22%
Compounded Profit Growth
10 Years:28%
5 Years:32%
3 Years:12%
TTM:55%
Stock Price CAGR
10 Years:32%
5 Years:53%
3 Years:48%
1 Year:86%
Return on Equity
10 Years:18%
5 Years:24%
3 Years:22%
Last Year:28%

Last Updated: June 5, 2024, 5:32 pm

Balance Sheet

MonthMar 2012Mar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Sep 2023
Equity Capital14141414141414141414141427
Reserves132154140115124136155179206284311375420
Borrowings258239236185146119229178260323417568527
Other Liabilities6818989101118168213282235154163289384
Total Liabilities4715954794144024376116527157759051,2471,358
Fixed Assets6174827478727471817984120126
CWIP2478111122723
Investments0000000000000
Other Assets4085183903323233645365806336948141,1251,228
Total Assets4715954794144024376116527157759051,2471,358

Reserves and Borrowings Chart

Thangamayil Jewellery Ltd Cash Flow

MonthMar 2012Mar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023
Cash from Operating Activity -5410849827369-5385-3955-7910
Cash from Investing Activity -40-18-17-3-5-6-27-17818-21-86
Cash from Financing Activity 98-70-45-90-64-5674-6224-649478
Net Cash Flow420-12-1147-65-78-72

Free Cash Flow

MonthMar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024
Free Cash Flow-156.00-221.00-182.00-103.00-71.00-170.00-107.00-162.00-176.00-331.00-415.00218.00

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 Days000000010100
Inventory Days138125113778796140143139149139127
Days Payable73429142717219313
Cash Conversion Cycle13292111687369123122130146138125
Working Capital Days10573854744386454749410386
ROCE %37%20%4%-1%13%15%16%17%21%25%11%17%

Financial Efficiency Indicators Chart

Share Holding Pattern

MonthMar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023
Promoters70.07%70.29%70.31%66.66%66.66%66.66%66.66%66.66%67.16%67.16%67.16%67.32%
FIIs1.88%1.90%1.85%1.81%1.19%0.16%0.17%0.16%0.16%0.20%0.25%0.74%
DIIs5.74%7.09%7.18%10.51%11.51%11.49%11.46%11.46%11.46%11.46%11.39%11.40%
Public22.31%20.72%20.66%21.02%20.64%21.69%21.71%21.71%21.21%21.17%21.20%20.52%
No. of Shareholders8,77610,4059,44711,04412,29611,44612,61814,89014,89620,91729,60432,954

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 Fund1,337,3841.48199.45143,8472024-06-11829.73%
SBI Small Cap Fund1,140,0000.72170.01143,8472024-06-11692.51%
SBI Conservative Hybrid Fund500,0000.7368.59143,8472024-06-11247.59%
SBI Conservative Hybrid Fund - Div (Annual)500,0000.7368.59143,8472024-06-11247.59%
SBI Conservative Hybrid Fund - Div (Monthly)500,0000.7368.59143,8472024-06-11247.59%
SBI Magnum Childrens Benefit Fund - Investment Plan143,8471.4321.45143,8472024-06-110%
SBI Magnum Children Benefit Plan7,0000.90.96143,8472024-06-11-95.13%

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.)50.8867.8835.1370.0140.70
Book Value[Excl.RevalReserv]/Share (Rs.)179.74283.38236.35217.15160.46
Book Value[Incl.RevalReserv]/Share (Rs.)179.74283.38236.35217.15160.46
Dividend / Share (Rs.)10.0012.0010.0010.005.00
Revenue From Operations / Share (Rs.)1396.612297.841598.491325.561233.24
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 (%)5.684.954.008.215.95
PBIT Margin (%)5.254.533.567.695.35
PBT Margin (%)4.303.422.376.434.10
Net Profit Margin (%)3.212.521.754.762.69
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)3.393.152.792.692.77
Dividend Payout Ratio (NP) (%)0.0018.9232.039.5036.22
Dividend Payout Ratio (CP) (%)0.0016.2025.618.5629.61
Earning Retention Ratio (%)0.0081.0867.9790.5063.78
Cash Earning Retention Ratio (%)0.0083.8074.3991.4470.39
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.)3954.511848.211832.921057.20534.96
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 (%)0.0081.0767.9690.4963.77
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: 1,584.15

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: 12.83% compared to the current price 1404

Intrinsic Value: 1,931.65

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: 37.58% compared to the current price ₹1404

Last 5 Year EPS CAGR: 21.94%

*Investments are subject to market risks

Strength and Weakness

StrengthWeakness
  1. The stock has a high average ROCE of 16.25%, which is a positive sign.
  2. The company has shown consistent growth in sales (1.42 cr) and profit (51.08 cr) over the years.
  1. The stock has a high average Working Capital Days of 72.25, which may not be favorable.
  2. The stock has a high average Cash Conversion Cycle of 110.75, which may not be favorable.
  3. The company has higher borrowings (283.46) compared to reserves (210.08), which may suggest financial risk.

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 Thangamayil Jewellery Ltd:
    1. Net Profit Margin: 3.21%
      • 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: 6.58%)
      • 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: 8.44%)
      • 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: 31.3 (Industry average Stock P/E: 137.22)
      • 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

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 MetailsNo.124, Nethaji Road, Madurai Tamil Nadu 625001companysecretary@thangamayil.com
http://www.thangamayil.com
Management
NamePosition Held
Mr. Balarama Govinda DasChairman & Managing 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. Jeevagan RajakumariIndependent Director

FAQ

What is the latest fair value of Thangamayil Jewellery Ltd?

The latest fair value of Thangamayil Jewellery Ltd is ₹1584.15.

What is the Market Cap of Thangamayil Jewellery Ltd?

The Market Cap of Thangamayil Jewellery Ltd is 3,853 Cr..

What is the current Stock Price of Thangamayil Jewellery Ltd as on 12 June 2024?

The current stock price of Thangamayil Jewellery Ltd as on 12 June 2024 is ₹1,404.

What is the High / Low of Thangamayil Jewellery Ltd stocks in FY 2024?

In FY 2024, the High / Low of Thangamayil Jewellery Ltd stocks is 1,550/722.

What is the Stock P/E of Thangamayil Jewellery Ltd?

The Stock P/E of Thangamayil Jewellery Ltd is 31.3.

What is the Book Value of Thangamayil Jewellery Ltd?

The Book Value of Thangamayil Jewellery Ltd is 180.

What is the Dividend Yield of Thangamayil Jewellery Ltd?

The Dividend Yield of Thangamayil Jewellery Ltd is 0.42 %.

What is the ROCE of Thangamayil Jewellery Ltd?

The ROCE of Thangamayil Jewellery Ltd is 20.3 %.

What is the ROE of Thangamayil Jewellery Ltd?

The ROE of Thangamayil Jewellery Ltd is 28.0 %.

What is the Face Value of Thangamayil Jewellery Ltd?

The Face Value of Thangamayil Jewellery 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 Thangamayil Jewellery 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