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Last Updated: April 2, 2026, 4:54 am
Author: Getaka|Social: XLinkedIn
Stock Ticker - BSE: 523373 | NSE: MINID

Mini Diamonds (India) Ltd: Intrinsic Value & Share Price Analysis

Fair Value

₹20.98Undervalued by 29.51%vs CMP ₹16.20

P/E (36.9) × ROE (12.6%) × BV (₹5.53) × DY (2.00%)

₹12.03Overvalued by 25.74%vs CMP ₹16.20
MoS: -34.7% (Negative)Confidence: 58/100 (Moderate)Models: 1 Under, 1 Fair, 7 Over
ModelCategoryValueWeightSignal
PE-ROEEarnings₹27.2123%Under (+68%)
Graham NumberEarnings₹7.4017%Over (-54.3%)
Earnings PowerEarnings₹1.2411%Over (-92.3%)
DCFCash Flow₹10.2311%Over (-36.9%)
Net Asset ValueAssets₹5.607%Over (-65.4%)
EV/EBITDAEnterprise₹5.779%Over (-64.4%)
Earnings YieldEarnings₹4.407%Over (-72.8%)
ROCE CapitalReturns₹11.949%Over (-26.3%)
Revenue MultipleRevenue₹17.226%Fair (+6.3%)
Consensus (9 models)₹12.03100%Overvalued
Key Drivers: EPS CAGR 29.7% lifts DCF — verify sustainability. | Wide model spread (₹1–₹27) — high uncertainty.

PE-ROE · Graham · EPV · DCF · NAV · EV/EBITDA · DDM · Earnings Yield · ROCE Capital · Revenue Multiple | CoE: 12% · Terminal: 4% · EPS CAGR: 29.7%

*Investments are subject to market risks

Investment Snapshot

58
Mini Diamonds (India) Ltd scores 58/100 (Average)
Based on 5 dimensions: health, institutional flow, earnings quality, momentum, and peer comparison
Stock Health57/100 · Moderate
ROCE 16.2% GoodROE 12.6% GoodD/E 1.68 High debtInterest Coverage 0.0x RiskyProfitable 3/5 years Mixed
Smart Money35/100 · Weak
Promoter decreased by 1.87% CautionShareholders down 40% Consolidation
Earnings Quality50/100 · Moderate
OPM stable around 2% Steady
Quarterly Momentum60/100 · Moderate
Revenue (4Q): +30% YoY AcceleratingProfit (4Q): -31% YoY Declining
Industry Rank85/100 · Strong
P/E 36.9 vs industry 45.5 In-lineROCE 16.2% vs industry 6.9% Above peersROE 12.6% vs industry 5.1% Above peers3Y sales CAGR: 65% High growth

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, 4:54 am

Market Cap 191 Cr.
Current Price 16.2
Intrinsic Value₹12.03
High / Low 43.6/14.5
Stock P/E36.9
Book Value 5.53
Dividend Yield0.00 %
ROCE16.2 %
ROE12.6 %
Face Value 2.00
PEG Ratio1.24

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

View Share Price Target for Mini Diamonds (India) Ltd

Competitors

Stock Name ⇩Market Cap ⇩Current Price ⇩High / Low ⇩Stock P/E ⇩Book Value ⇩Dividend Yield ⇩ROCE ⇩ROE ⇩Face Value ⇩
Mini Diamonds (India) Ltd 191 Cr. 16.2 43.6/14.536.9 5.530.00 %16.2 %12.6 % 2.00
Ashapuri Gold Ornament Ltd 123 Cr. 3.68 8.28/3.136.81 4.800.00 %13.8 %10.2 % 1.00
Asian Star Company Ltd 999 Cr. 624 800/53327.5 1,0050.24 %4.20 %2.89 % 10.0
Motisons Jewellers Ltd 1,217 Cr. 12.2 24.0/10.618.3 4.480.00 %14.5 %11.6 % 1.00
Goldiam International Ltd 3,279 Cr. 290 444/25120.9 90.51.03 %24.6 %17.1 % 2.00
Industry Average1,161.80 Cr80.6745.4989.580.48%6.93%5.13%6.00

All Competitor Stocks of Mini Diamonds (India) Ltd

Quarterly Result

MetricDec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Sales 42.9455.0324.3264.2772.2984.7089.13103.99115.6696.79100.46149.44166.64
Expenses 42.6354.7523.9864.7371.0983.2987.16101.80113.3397.6497.91146.19162.23
Operating Profit 0.310.280.34-0.461.201.411.972.192.33-0.852.553.254.41
OPM % 0.72%0.51%1.40%-0.72%1.66%1.66%2.21%2.11%2.01%-0.88%2.54%2.17%2.65%
Other Income 0.000.000.000.000.080.030.000.000.110.250.000.270.13
Interest 0.010.130.000.000.030.000.020.000.050.020.000.010.01
Depreciation 0.060.280.190.100.020.120.110.130.140.030.100.130.18
Profit before tax 0.24-0.130.15-0.561.231.321.842.062.25-0.652.453.384.35
Tax % 0.00%-15.38%0.00%0.00%0.00%-1.52%0.00%0.00%0.00%315.38%26.12%18.05%25.06%
Net Profit 0.24-0.110.14-0.571.221.341.842.052.25-2.701.822.783.26
EPS in Rs 0.14-0.060.08-0.320.690.751.030.170.19-0.230.150.240.28

Last Updated: March 3, 2026, 6:16 am

Quarterly Chart

Profit & Loss - Annual Report

Last Updated: February 27, 2026, 8:10 am

MetricMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025TTM
Sales 97124129128122111562191170246406513
Expenses 96122127125120111572090168243398504
Operating Profit 123320-1001279
OPM % 1%2%2%2%2%0%-1%1%0%1%1%2%2%
Other Income 00000000000-11
Interest 1122220000000
Depreciation 0000000000000
Profit before tax 11100-2-10012510
Tax % 31%29%34%38%12%-27%4%0%5%-4%-1%37%
Net Profit 01100-1-1001235
EPS in Rs 0.200.320.290.180.17-0.67-0.550.080.120.321.210.290.44
Dividend Payout % 0%0%0%0%0%0%0%0%0%0%0%0%

Profit & Loss Yearly Chart

YoY Net Profit Growth

Year2015-20162016-20172019-20202020-20212023-20242024-2025
YoY Net Profit Growth (%)0.00%-100.00%0.00%100.00%100.00%50.00%
Change in YoY Net Profit Growth (%)0.00%-100.00%100.00%100.00%0.00%-50.00%

Mini Diamonds (India) Ltd has shown an inconsistent trend in YoY Net Profit Growth (%) in the last 6 years from 2015-2016 to 2024-2025.

Growth

Compounded Sales Growth
10 Years:13%
5 Years:48%
3 Years:65%
TTM:34%
Compounded Profit Growth
10 Years:20%
5 Years:41%
3 Years:154%
TTM:-11%
Stock Price CAGR
10 Years:36%
5 Years:130%
3 Years:99%
1 Year:37%
Return on Equity
10 Years:6%
5 Years:11%
3 Years:12%
Last Year:10%

Last Updated: September 5, 2025, 3:55 pm

Balance Sheet

Last Updated: March 3, 2026, 3:15 am

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Sep 2025
Equity Capital 333333333342424
Reserves 122443222353942
Borrowings 131617242113864131522
Other Liabilities 46601046210172444182103153144141
Total Liabilities 64811269412992585292123176209209
Fixed Assets 1113300013222
CWIP 0000000000000
Investments 0000000000000
Other Assets 63801259112791575292120174207207
Total Assets 64811269412992585292123176209209

Reserves and Borrowings Chart

Cash Flow

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Cash from Operating Activity + -4-21-5-58523-7-0-38
Cash from Investing Activity + -00-0-0-0200-0-300
Cash from Financing Activity + 42-166-10-5-2-29238
Net Cash Flow 00-0000-0-00-021
Free Cash Flow -4-21-6-610522-9-0-38
CFO/OP -288%-68%31%-190%-216%2,194%-677%1,019%910%-586%-5%-489%

Free Cash Flow

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Free Cash Flow-12.00-14.00-14.00-21.00-19.00-13.00-9.00-6.00-4.00-12.00-13.005.00

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 138118199217248231351716238203218139
Inventory Days 1038812244138686147106493035
Days Payable 165171293168291234294761331221230129
Cash Conversion Cycle 7634279294656310313311745
Working Capital Days 1211121315183294197752
ROCE %7%10%12%10%8%1%-5%1%2%5%10%16%

Financial Efficiency Indicators Chart

Share Holding Pattern

MonthMar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Promoters 33.28%35.51%35.51%35.51%34.65%33.87%5.12%5.12%4.94%4.94%4.89%3.02%
Public 66.72%64.50%64.50%64.50%65.36%66.14%94.88%94.89%95.05%95.04%95.11%96.97%
No. of Shareholders 12,80812,77212,81112,84812,76212,59413,60714,54114,28113,80714,4788,657

Shareholding Pattern Chart

No. of Shareholders

Mini Diamonds (India) Ltd: Intrinsic Value & Share Price Analysis - Shareholder trend analysis

This stock is not held by any mutual fund.

ROCE / ROE Trend

EPS Trend

Key Financial Ratios

MonthMar 25Mar 24
FaceValue 10.0010.00
Basic EPS (Rs.) 1.406.02
Diluted EPS (Rs.) 1.406.02
Cash EPS (Rs.) 1.587.24
Book Value[Excl.RevalReserv]/Share (Rs.) 26.5724.29
Book Value[Incl.RevalReserv]/Share (Rs.) 26.5724.29
Revenue From Operations / Share (Rs.) 172.12688.07
PBDIT / Share (Rs.) 3.157.26
PBIT / Share (Rs.) 2.976.04
PBT / Share (Rs.) 2.275.96
Net Profit / Share (Rs.) 1.406.01
NP After MI And SOA / Share (Rs.) 1.406.01
PBDIT Margin (%) 1.831.05
PBIT Margin (%) 1.720.87
PBT Margin (%) 1.310.86
Net Profit Margin (%) 0.810.87
NP After MI And SOA Margin (%) 0.810.87
Return on Networth / Equity (%) 5.2624.76
Return on Capital Employeed (%) 11.1724.85
Return On Assets (%) 1.561.21
Total Debt / Equity (X) 0.031.68
Asset Turnover Ratio (%) 2.100.00
Current Ratio (X) 1.411.04
Quick Ratio (X) 1.150.92
Inventory Turnover Ratio (X) 14.080.00
Interest Coverage Ratio (X) 79.0398.20
Interest Coverage Ratio (Post Tax) (X) 52.6982.32
Enterprise Value (Cr.) 362.2529.89
EV / Net Operating Revenue (X) 0.890.12
EV / EBITDA (X) 48.7611.53
MarketCap / Net Operating Revenue (X) 0.890.06
Price / BV (X) 5.781.98
Price / Net Operating Revenue (X) 0.890.06
EarningsYield 0.010.12

Profitability Ratios (%)

Liquidity Ratios

Liquidity Ratios (%)

Interest Coverage Ratios (%)

Valuation Ratios

About the Company - Qualitative Analysis

Mini Diamonds (India) Ltd. is a Public Limited Listed company incorporated on 12/02/1987 and has its registered office in the State of Maharashtra, India. Company's Corporate Identification Number(CIN) is L36912MH1987PLC042515 and registration number is 042515. Currently Company is involved in the business activities of Working of diamonds and other precious and semi-precious stones including the working of industrial quality stones and synthetic or reconstructed precious or semi-precious stones. Company's Total Operating Revenue is Rs. 405.57 Cr. and Equity Capital is Rs. 23.57 Cr. for the Year ended 31/03/2025.
INDUSTRYADDRESSCONTACT
Gems, Jewellery & Precious MetalsDW-9020, Bharat Diamond Bourse, Mumbai Maharashtra 400051Contact not found
Management
NamePosition Held
Mr. Upendra N ShahChairman & Managing Director
Mr. Ronish U ShahExecutive Director
Mr. Narayanbhai KevadiaNon Exe.Non Ind.Director
Mr. Chintan ShahIndependent Director
Ms. Niharika RoongtaIndependent Director
Mr. Ashutosh TiwariIndependent Director

FAQ

What is the intrinsic value of Mini Diamonds (India) Ltd and is it undervalued?

As of 10 April 2026, Mini Diamonds (India) Ltd's intrinsic value is ₹12.03, which is 25.74% lower than the current market price of ₹16.20, suggesting the stock is overvalued. This is calculated using the PE ratio method factoring in ROE (12.6 %), book value (₹5.53), dividend yield (0.00 %), and 5-year EPS CAGR.

What is the current share price and 52-week range of Mini Diamonds (India) Ltd?

Mini Diamonds (India) Ltd is trading at ₹16.20 as of 10 April 2026, with a FY2026-2027 high of ₹43.6 and low of ₹14.5. The stock is currently near its 52-week low. Market cap stands at ₹191 Cr..

How does Mini Diamonds (India) Ltd's P/E ratio compare to its industry?

Mini Diamonds (India) Ltd has a P/E ratio of 36.9, which is below the industry average of 45.49. This is broadly in line with or below the industry average.

Is Mini Diamonds (India) Ltd financially healthy?

Key indicators for Mini Diamonds (India) Ltd: ROCE of 16.2 % indicates efficient capital utilization. Dividend yield is 0.00 %.

Is Mini Diamonds (India) Ltd profitable and how is the profit trend?

Mini Diamonds (India) Ltd reported a net profit of ₹3 Cr in Mar 2025 on revenue of ₹406 Cr. Compared to ₹0 Cr in Mar 2022, the net profit shows an improving trend.

Does Mini Diamonds (India) Ltd pay dividends?

Mini Diamonds (India) Ltd has a dividend yield of 0.00 % at the current price of ₹16.20. 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 Mini Diamonds (India) 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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