Trading · Founded 1989 · www.atlasjewelleryindia.com · BSE 514394 · · ISIN INE022N01019
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Business
Atlas Jewellery India Ltd. (AJIL) operates in the trading sector, specifically focused on jewellery. Its core business model involves the sourcing, manufacturing (or outsourcing), and retailing of gold, diamond, and other precious metal and gemstone jewellery products. The company primarily generates revenue through the direct sale of these jewellery items to consumers, earning margins on the difference between procurement/production costs and retail prices. Given the nature of the industry in India, it likely caters to cultural, celebratory, and investment-driven demand for jewellery.
Revenue Mix
Specific segmentation of revenue by product type (e.g., gold, diamond, platinum jewellery) or geographical region is not publicly detailed from the provided information. The company operates as a consolidated entity within the jewellery trading industry.
Industry
The Indian jewellery industry is one of the largest globally, characterized by its significant cultural importance, high demand for gold, and a blend of organized and highly fragmented unorganized sectors. Demand is driven by festivals, weddings, gifting, and investment purposes. Atlas Jewellery India Ltd. operates within this intensely competitive environment, competing with established national brands, regional players, and numerous local jewellers. Its positioning likely depends on its specific brand recognition, store network, product range, and pricing strategy within the vast Indian market.
MOAT
Without specific details, it is challenging to definitively assess durable competitive advantages for Atlas Jewellery India Ltd. Potential moats in the jewellery sector can include:
Brand Recognition & Trust: A strong, established brand can command customer loyalty, especially in high-value purchases like jewellery.
Retail Network: An extensive and well-located store presence can provide accessibility and visibility.
Design & Craftsmanship: Unique designs and quality craftsmanship can differentiate products.
Supply Chain Efficiency: Optimized sourcing and inventory management can lead to cost advantages.
The Indian jewellery market is highly competitive, and customer trust often hinges on purity, pricing transparency, and design.
Growth Drivers
Key factors that can drive growth for Atlas Jewellery India Ltd. over the next 3-5 years include:
Rising Disposable Incomes: Increasing affluence in India fuels discretionary spending on jewellery.
Cultural Demand: Continued strong cultural and traditional demand for gold and jewellery for weddings, festivals, and gifting.
Shift to Organized Sector: A gradual shift of consumers from unorganized local jewellers to branded, organized players due to assurances on purity, design, and financing options.
Urbanization: Growth in urban populations and lifestyles often leads to increased demand for modern jewellery designs.
Design Innovation: Introduction of new and contemporary designs catering to evolving consumer preferences.
Risks
Volatility in Precious Metal Prices: Fluctuations in gold, silver, and diamond prices can impact inventory valuation, profitability, and consumer demand.
Intense Competition: The highly fragmented and competitive nature of the Indian jewellery market can pressure margins and market share.
Regulatory Changes: Government policies related to gold imports, duties, हॉलमार्किंग standards, and Goods and Services Tax (GST) can significantly affect operations and costs.
Economic Downturns: Jewellery is largely a discretionary purchase, making demand vulnerable to economic slowdowns or reduced consumer confidence.
Reputational Risk: Issues concerning product purity, ethical sourcing, or customer service can severely damage brand trust.
Inventory Management: Holding high-value inventory carries risks related to price fluctuations, theft, and storage costs.
Management & Ownership
Specific details regarding the promoters, individual management quality, or precise ownership structure (beyond public listing) are not provided. In India, promoter groups typically hold significant stakes and influence. The quality of governance, strategic direction, and operational execution depends heavily on the capabilities and integrity of the promoter family and the professional management team.
Outlook
Atlas Jewellery India Ltd. operates in a market with inherent demand drivers rooted in Indian culture and growing economic prosperity. The increasing formalization of the economy and rising disposable incomes present opportunities for organized jewellery retailers. However, the company faces significant challenges from intense competition, commodity price volatility, and evolving regulatory landscapes. Success will depend on its ability to maintain customer trust, innovate with designs, manage supply chain efficiencies, and navigate market shifts effectively.
| #(Fig in Cr.) | Sep 2019 | Dec 2019 | Mar 2020 | Jun 2020 | Sep 2020 | Dec 2020 | Mar 2021 | Jun 2021 | Sep 2021 | Dec 2021 |
|---|---|---|---|---|---|---|---|---|---|---|
| Net Sales | 0 | 1 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1 |
| Other Income | 0 | 1 | 0 | 0 | 0 | 0 | 0 | 2 | 0 | 0 |
| Total Income | 0 | 2 | 0 | 1 | 0 | 0 | 0 | 2 | 0 | 1 |
| Total Expenditure | -1 | 1 | -7 | 0 | 4 | 2 | -0 | 1 | 1 | 1 |
| Operating Profit | 2 | 1 | 7 | 0 | -4 | -2 | 1 | 2 | -0 | 0 |
| Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Depreciation | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Exceptional Income / Expenses | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit Before Tax | 2 | 1 | 7 | 0 | -4 | -2 | 1 | 2 | -1 | 0 |
| Provision for Tax | -0 | -0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit After Tax | 2 | 1 | 7 | 0 | -4 | -2 | 1 | 2 | -1 | -0 |
| Adjustments | 0 | 0 | 0 | 0 | 0 | 0 | -0 | -0 | 0 | 0 |
| Profit After Adjustments | 2 | 1 | 7 | 0 | -4 | -2 | 1 | 2 | -1 | -0 |
| Adjusted Earnings Per Share | 0.2 | 0.1 | 0.7 | 0 | -0.4 | -0.2 | 0.1 | 0.1 | -0.1 | -0 |
| #(Fig in Cr.) | Mar 2011 | Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net Sales | 0 | 0 | 0 | 73 | 201 | 14 | 9 | 6 | 3 | 2 | 1 | 1 |
| Other Income | 0 | 1 | 0 | 0 | 5 | 8 | 0 | 2 | 9 | 13 | 0 | 2 |
| Total Income | 0 | 1 | 0 | 73 | 205 | 21 | 9 | 7 | 12 | 15 | 1 | 3 |
| Total Expenditure | 0 | 0 | 0 | 71 | 200 | 23 | 15 | 10 | 6 | 6 | 6 | 3 |
| Operating Profit | 0 | 1 | -0 | 2 | 6 | -2 | -6 | -2 | 6 | 9 | -5 | 3 |
| Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Depreciation | 0 | 0 | 0 | 0 | 1 | 3 | 2 | 1 | 1 | 0 | 0 | 0 |
| Exceptional Income / Expenses | 0 | -1 | 0 | 0 | 0 | -2 | -2 | -0 | 0 | 0 | 0 | 0 |
| Profit Before Tax | 0 | 0 | -0 | 2 | 5 | -7 | -10 | -3 | 6 | 9 | -5 | 2 |
| Provision for Tax | 0 | 0 | 0 | 0 | 2 | -1 | -1 | 1 | 0 | -0 | 0 | 0 |
| Profit After Tax | 0 | 0 | -0 | 2 | 3 | -6 | -9 | -4 | 5 | 9 | -5 | 2 |
| Adjustments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit After Adjustments | 0 | 0 | -0 | 2 | 3 | -6 | -9 | -4 | 5 | 9 | -5 | 2 |
| Adjusted Earnings Per Share | 0.3 | 0.2 | -0.1 | 0.3 | 0.3 | -0.6 | -0.9 | -0.4 | 0.5 | 0.9 | -0.5 | 0.1 |
| # | 1 Year | 3 Year | 5 Year | 10 Year |
|---|---|---|---|---|
| Sales CAGR | -50% | -45% | -41% | 0% |
| Operating Profit CAGR | -156% | 0% | 0% | 0% |
| PAT CAGR | -156% | 0% | 0% | 0% |
| # | 1 Year | 3 Year | 5 Year | 10 Year |
|---|---|---|---|---|
| Share Price CAGR | 0% | 0% | -28% | -13% |
| ROE Average | -3% | 2% | -0% | 1% |
| ROCE Average | -3% | 2% | -0% | 1% |
| #(Fig in Cr.) | Mar 2011 | Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Shareholder's Funds | 2 | 2 | 2 | 73 | 172 | 165 | 156 | 152 | 157 | 167 | 162 |
| Minority's Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Borrowings | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Current Liabilities | 0 | 0 | 0 | 0 | -0 | -1 | -2 | -1 | -1 | -1 | -1 |
| Total Current Liabilities | 1 | 0 | 0 | 2 | 21 | 6 | 6 | 5 | 5 | 5 | 5 |
| Total Liabilities | 3 | 2 | 2 | 75 | 193 | 170 | 160 | 156 | 161 | 171 | 166 |
| Fixed Assets | 0 | 0 | 0 | 0 | 6 | 6 | 3 | 2 | 1 | 1 | 0 |
| Other Non-Current Assets | 3 | 2 | 2 | 2 | 9 | 2 | 2 | 2 | 1 | 0 | 0 |
| Total Current Assets | 0 | 0 | 0 | 74 | 177 | 162 | 155 | 152 | 159 | 170 | 165 |
| Total Assets | 3 | 2 | 2 | 75 | 193 | 170 | 160 | 156 | 161 | 171 | 166 |
| #(Fig in Cr.) | Mar 2011 | Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Opening Cash & Cash Equivalents | 0 | 0 | 0 | 0 | 1 | 2 | 1 | 0 | 0 | 1 | 0 |
| Cash Flow from Operating Activities | -0 | -1 | -0 | -68 | -81 | -3 | -0 | -0 | 0 | -14 | 4 |
| Cash Flow from Investing Activities | 0 | 1 | 0 | 0 | -14 | 2 | 0 | -0 | 0 | 1 | -0 |
| Cash Flow from Financing Activities | 0 | 0 | 0 | 69 | 96 | 0 | 0 | 0 | 0 | -0 | -0 |
| Net Cash Inflow / Outflow | -0 | 0 | -0 | 1 | 0 | -1 | -0 | -0 | 1 | -14 | 4 |
| Closing Cash & Cash Equivalent | 0 | 0 | 0 | 1 | 2 | 1 | 0 | 0 | 1 | 0 | 0 |
| # | Mar 2011 | Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Per Share (Rs) | 0.27 | 0.2 | -0.08 | 0.32 | 0.32 | -0.63 | -0.93 | -0.4 | 0.54 | 0.92 | -0.5 |
| CEPS(Rs) | 0.28 | 0.21 | -0.07 | 0.32 | 0.39 | -0.32 | -0.74 | -0.32 | 0.59 | 0.95 | -0.48 |
| DPS(Rs) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Book NAV/Share(Rs) | 4.11 | 4.31 | 4.16 | 13.5 | 17.05 | 16.41 | 15.49 | 15.09 | 15.63 | 16.55 | 16.05 |
| Core EBITDA Margin(%) | 0 | 0 | 0 | 2.44 | 0.47 | -69.89 | -72.51 | -73.24 | -67.08 | -159.5 | -362.54 |
| EBIT Margin(%) | 0 | 0 | 0 | 2.44 | 2.53 | -51.09 | -114.49 | -61.85 | 173.5 | 419.09 | -368.94 |
| Pre Tax Margin(%) | 0 | 0 | 0 | 2.41 | 2.38 | -51.66 | -115.09 | -62.36 | 172.58 | 416.75 | -371.91 |
| PAT Margin (%) | 0 | 0 | 0 | 2.22 | 1.58 | -46.72 | -107.67 | -71.83 | 164.01 | 422.74 | -383.14 |
| Cash Profit Margin (%) | 0 | 0 | 0 | 2.22 | 1.96 | -23.81 | -86.24 | -57.19 | 180.27 | 437.23 | -366.82 |
| ROA(%) | 4.18 | 3.39 | -1.58 | 4.21 | 2.37 | -3.52 | -5.63 | -2.53 | 3.43 | 5.57 | -2.97 |
| ROE(%) | 6.83 | 4.71 | -1.76 | 4.62 | 2.64 | -3.8 | -5.8 | -2.6 | 3.51 | 5.71 | -3.05 |
| ROCE(%) | 7.22 | 5.26 | -1.61 | 4.75 | 4.14 | -4.15 | -6.17 | -2.23 | 3.72 | 5.66 | -2.93 |
| Receivable days | 0 | 0 | 0 | 361.5 | 193.59 | 3713.75 | 5750.86 | 8855.57 | 0 | 0 | 0 |
| Inventory Days | 0 | 0 | 0 | 0 | 60.08 | 741.61 | 896.12 | 1197.5 | 1708.78 | 2276.32 | 3463.49 |
| Payable days | 0 | 0 | 0 | 0 | 10.03 | 141.5 | 6.95 | 4.53 | 1.77 | 0.19 | 0.19 |
| PER(x) | 0 | 0 | 0 | 85.64 | 265.92 | 0 | 0 | 0 | 151.88 | 58.49 | 0 |
| Price/Book(x) | 0 | 0 | 3.94 | 2.03 | 4.92 | 1.19 | 4.33 | 4.46 | 5.25 | 3.25 | 1.73 |
| Dividend Yield(%) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| EV/Net Sales(x) | 0 | 0 | 0 | 1.89 | 4.2 | 14.31 | 77.93 | 121.7 | 248.92 | 247.25 | 214.3 |
| EV/Core EBITDA(x) | 33.46 | 5.93 | -240.98 | 77.46 | 144.3 | -111.12 | -108.08 | -288.23 | 131.17 | 57.03 | -60.77 |
| Net Sales Growth(%) | 0 | 0 | 0 | 0 | 174.89 | -93.18 | -36.77 | -35.7 | -40.42 | -33.97 | -40.33 |
| EBIT Growth(%) | -16.43 | -17.3 | -130.94 | 5790.6 | 184.66 | -237.94 | -41.7 | 65.26 | 267.14 | 59.5 | -152.52 |
| PAT Growth(%) | -18.63 | -27.08 | -137.37 | 5240.41 | 95.72 | -301.47 | -45.72 | 57.1 | 236.04 | 70.21 | -154.08 |
| EPS Growth(%) | -18.63 | -27.06 | -137.86 | 526.59 | -1.5 | -301.47 | -45.72 | 57.1 | 236.03 | 70.2 | -154.08 |
| Debt/Equity(x) | 0 | 0.14 | 0 | 0.01 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Current Ratio(x) | 0.15 | 0.28 | 9.14 | 30.52 | 8.44 | 27.36 | 26.58 | 30.65 | 30.62 | 33.87 | 31.17 |
| Quick Ratio(x) | 0.15 | 0.28 | 9.14 | 30.52 | 6.87 | 23.55 | 23.18 | 27.3 | 27.84 | 31.31 | 28.93 |
| Interest Cover(x) | 0 | 0 | 0 | 74.45 | 17.39 | -90 | -188.25 | -120.42 | 188.29 | 179.23 | -124.19 |
| Total Debt/Mcap(x) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| # | Jun 2021 | Sep 2021 | Dec 2021 | Mar 2022 | Jun 2022 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | Sep 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Promoter | 95.82 | 95.82 | 95.82 | 95.82 | 95.82 | 95.82 | 95.82 | 95.82 | 95.82 | 95.82 |
| FII | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| DII | 0 | 0 | 0 | 0 | 0.14 | 0 | 0 | 0 | 0 | 0 |
| Public | 4.18 | 4.18 | 4.18 | 4.18 | 4.04 | 4.18 | 4.18 | 4.18 | 4.18 | 4.18 |
| Others | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 |
| # | Jun 2021 | Sep 2021 | Dec 2021 | Mar 2022 | Jun 2022 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | Sep 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Promoter | 9.64 | 9.64 | 9.64 | 9.64 | 9.64 | 9.64 | 9.64 | 9.64 | 9.64 | 9.64 |
| FII | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| DII | 0 | 0 | 0 | 0 | 0.01 | 0 | 0 | 0 | 0 | 0 |
| Public | 0.42 | 0.42 | 0.42 | 0.42 | 0.41 | 0.42 | 0.42 | 0.42 | 0.42 | 0.42 |
| Others | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total | 10.07 | 10.07 | 10.07 | 10.07 | 10.07 | 10.07 | 10.07 | 10.07 | 10.07 | 10.07 |
| # | 1 Year | 3 Year | 5 Year | 10 Year |
|---|---|---|---|---|
| Sales CAGR | -50% | -45% | -41% | — |
| Operating Profit CAGR | -156% | — | — | — |
| PAT CAGR | -156% | — | — | — |
| Share Price CAGR | 0% | 0% | -28% | -13% |
| ROE Average | -3% | +2% | 0% | +1% |
| ROCE Average | -3% | +2% | 0% | +1% |
| # | Jun 2021 | Sep 2021 | Dec 2021 | Mar 2022 | Jun 2022 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | Sep 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Promoter | 95.82 | 95.82 | 95.82 | 95.82 | 95.82 | 95.82 | 95.82 | 95.82 | 95.82 | 95.82 |
| FII | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| DII | 0 | 0 | 0 | 0 | 0.14 | 0 | 0 | 0 | 0 | 0 |
| Public | 4.18 | 4.18 | 4.18 | 4.18 | 4.04 | 4.18 | 4.18 | 4.18 | 4.18 | 4.18 |
| Others | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 |
| # | Jun 2021 | Sep 2021 | Dec 2021 | Mar 2022 | Jun 2022 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | Sep 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Promoter | 9.64 | 9.64 | 9.64 | 9.64 | 9.64 | 9.64 | 9.64 | 9.64 | 9.64 | 9.64 |
| FII | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| DII | 0 | 0 | 0 | 0 | 0.01 | 0 | 0 | 0 | 0 | 0 |
| Public | 0.42 | 0.42 | 0.42 | 0.42 | 0.41 | 0.42 | 0.42 | 0.42 | 0.42 | 0.42 |
| Others | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total | 10.07 | 10.07 | 10.07 | 10.07 | 10.07 | 10.07 | 10.07 | 10.07 | 10.07 | 10.07 |
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