WEBSITE BSE:512047 NSE: ROYAL IND Inc. Year: 1984 Industry: Diamond & Jewellery My Bucket: Add Stock
Last updated: 10:53
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1. Business Overview
Royal India Corporation Ltd. operates within the Diamond & Jewellery sector in India. Its core business likely involves the trading, manufacturing, and/or retail of diamonds and diamond jewellery, and potentially other precious metal jewellery. The company's business model would typically encompass sourcing rough diamonds or finished jewellery components, processing or designing them (if manufacturing), and distributing or selling them through wholesale channels, retail outlets, or directly to consumers. The company generates revenue by applying margins on the sale of these diamond and jewellery products.
2. Key Segments / Revenue Mix
Without specific financial reports, the company's revenue mix can be inferred to primarily include:
Polished Diamonds: Trading of cut and polished diamonds.
Diamond Jewellery: Manufacturing and/or sale of jewellery items studded with diamonds.
Other Jewellery: Potentially includes jewellery made from gold, silver, or other precious stones, depending on their strategic focus.
Specific contribution percentages for these segments are not available.
3. Industry & Positioning
The Indian Diamond & Jewellery industry is vast and diverse, characterized by a mix of highly fragmented unorganized players and a growing number of organized, branded retailers and manufacturers. Key players range from large integrated companies to specialized niche businesses. The industry is driven by domestic demand (weddings, festivals, investment) and increasingly by exports. Royal India Corporation Ltd. would be positioned within this competitive landscape, likely differentiating itself through product design, quality, pricing, distribution reach, or a specific market segment focus. Its exact standing (e.g., market share, revenue size) relative to peers would require specific financial data.
4. Competitive Advantage (Moat)
Without specific company details, it's challenging to confirm a durable competitive advantage. Potential moats in the diamond and jewellery sector could include:
Brand Reputation & Trust: Establishing a strong, trustworthy brand, especially for high-value items.
Sourcing Network: Robust and reliable access to rough diamonds or raw materials.
Design & Craftsmanship: Unique designs or superior manufacturing capabilities.
Distribution Network: Extensive retail footprint or strong wholesale client relationships.
Vertical Integration: Controlling multiple stages of the value chain from sourcing to retail, offering cost efficiencies.
For Royal India Corporation, any competitive advantage would depend on its specific operational strengths and market approach, which is not ascertainable from the provided information.
5. Growth Drivers
Key factors that could drive growth for Royal India Corporation Ltd. over the next 3-5 years include:
Rising Disposable Incomes: Increasing affluence among Indian consumers, leading to higher spending on discretionary luxury items like jewellery.
Urbanization & Changing Lifestyles: Growth in urban populations and evolving consumer tastes favoring organized and branded jewellery.
E-commerce Adoption: Expansion into online sales channels to reach a wider customer base.
Export Opportunities: Leveraging India's position as a global hub for diamond cutting and polishing to cater to international markets.
Wedding & Festival Demand: Continued cultural significance of jewellery in Indian weddings and festivals.
Shift to Organized Retail: Capture market share from the unorganized sector.
6. Risks
Commodity Price Volatility: Fluctuations in the prices of rough diamonds, gold, and other precious metals can impact profitability and inventory values.
Economic Downturn: Jewellery demand is highly sensitive to economic cycles and consumer discretionary spending.
Regulatory Changes: Changes in import duties, taxation (e.g., GST), or hallmarking regulations can affect operations and costs.
Intense Competition: High competition from both established national brands and local unorganized players.
Supply Chain Disruptions: Issues in sourcing raw materials or geopolitical events affecting diamond supply.
Inventory Management: Holding high-value inventory carries financial risk if demand slows or prices fall.
Counterfeit Products & Ethical Sourcing: Reputational risk from concerns over origin and ethical sourcing of diamonds.
7. Management & Ownership
As an Indian Corporation Ltd., the company is typically promoter-driven, with promoters holding a significant stake. The management team's quality would depend on their experience, industry expertise, track record, and adherence to corporate governance standards, which cannot be assessed without specific details. The ownership structure would generally comprise the promoter group, potentially institutional investors, and public shareholders.
8. Outlook
Royal India Corporation Ltd. operates in a dynamic and culturally significant sector in India. The underlying demand for diamonds and jewellery is supported by India's growing economy, rising disposable incomes, and cultural factors. However, the industry is also highly competitive and susceptible to commodity price volatility and economic downturns affecting discretionary spending. The company's future performance will largely depend on its ability to effectively manage its supply chain, adapt to evolving consumer preferences (including digital adoption), maintain design relevance, manage inventory risks, and strategically navigate the competitive landscape while leveraging any specific operational strengths it possesses.
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Market Cap ₹69 Cr.
Stock P/E 6.4
P/B 0.8
Current Price ₹5.9
Book Value ₹ 7.5
Face Value 10
52W High ₹10
Dividend Yield 0%
52W Low ₹ 2.8
Price goes above X
Price falls below X
PE goes above X
PE falls below X
₹ | |
| #(Fig in Cr.) | Sep 2022 | Dec 2022 | Mar 2023 | Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Mar 2025 | Jun 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Net Sales | 0 | 29 | 8 | 13 | 6 | 10 | 0 | 11 | 70 | 42 |
| Other Income | 0 | 0 | 1 | 0 | 0 | 0 | -3 | 0 | 1 | 1 |
| Total Income | 0 | 30 | 9 | 13 | 6 | 10 | -3 | 12 | 71 | 43 |
| Total Expenditure | 0 | 21 | 13 | 11 | 5 | 11 | 5 | 9 | 64 | 38 |
| Operating Profit | -0 | 8 | -4 | 3 | 2 | -0 | -8 | 3 | 7 | 5 |
| Interest | 4 | 3 | 0 | 3 | 3 | 3 | -5 | 3 | -5 | 1 |
| 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 | -4 | 5 | -4 | -0 | -2 | -4 | -3 | -0 | 12 | 3 |
| Provision for Tax | 0 | 0 | -3 | 0 | 0 | 0 | -1 | 0 | 1 | 0 |
| Profit After Tax | -4 | 5 | -1 | -0 | -2 | -4 | -3 | -0 | 11 | 3 |
| Adjustments | -0 | 0 | -0 | 0 | -0 | -0 | 0 | 0 | 0 | 0 |
| Profit After Adjustments | -4 | 5 | -1 | -0 | -2 | -4 | -3 | -0 | 11 | 3 |
| Adjusted Earnings Per Share | -1.6 | 2.1 | -0.5 | -0.1 | -0.7 | -1.6 | -1.1 | -0 | 1 | 0.3 |
| #(Fig in Cr.) | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net Sales | 162 | 184 | 284 | 102 | 126 | 201 | 2 | 2 | 38 | 29 | 220 | 123 |
| Other Income | 0 | 0 | 3 | 0 | 1 | 0 | 0 | 0 | 4 | 0 | 8 | -1 |
| Total Income | 162 | 184 | 287 | 102 | 127 | 201 | 3 | 2 | 41 | 29 | 228 | 123 |
| Total Expenditure | 162 | 183 | 285 | 102 | 127 | 209 | 2 | 3 | 37 | 31 | 213 | 116 |
| Operating Profit | 0 | 1 | 2 | -0 | 0 | -8 | 0 | -1 | 4 | -2 | 15 | 7 |
| Interest | 0 | 0 | 1 | 9 | 9 | 11 | 12 | 13 | 11 | 7 | 4 | -6 |
| Depreciation | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Exceptional Income / Expenses | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit Before Tax | 0 | 1 | 1 | -10 | -9 | -18 | -11 | -14 | -7 | -9 | 11 | 12 |
| Provision for Tax | 0 | 0 | 0 | -3 | -3 | -3 | -4 | -6 | -3 | -1 | 1 | 0 |
| Profit After Tax | 0 | 0 | 0 | -7 | -6 | -15 | -8 | -8 | -4 | -8 | 11 | 11 |
| Adjustments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit After Adjustments | 0 | 0 | 0 | -7 | -6 | -15 | -8 | -8 | -4 | -8 | 11 | 11 |
| Adjusted Earnings Per Share | 0.1 | 0.2 | 0.2 | -3 | -2.6 | -6.6 | -3.4 | -3.5 | -1.6 | -3.6 | 1 | 0.2 |
| # | 1 Year | 3 Year | 5 Year | 10 Year |
|---|---|---|---|---|
| Sales CAGR | 659% | 379% | 2% | 3% |
| Operating Profit CAGR | 0% | 0% | 0% | 0% |
| PAT CAGR | 0% | 0% | 0% | 0% |
| # | 1 Year | 3 Year | 5 Year | 10 Year |
|---|---|---|---|---|
| Share Price CAGR | -29% | 8% | 48% | 10% |
| ROE Average | 41% | 14% | -71% | -46% |
| ROCE Average | 11% | 4% | 2% | 1% |
| #(Fig in Cr.) | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Shareholder's Funds | 37 | 38 | 34 | 27 | 21 | 6 | -2 | -10 | -14 | -22 | 78 |
| Minority's Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Borrowings | 0 | 0 | 35 | 77 | 91 | 101 | 111 | 124 | 137 | 132 | 101 |
| Other Non-Current Liabilities | -0 | -0 | 0 | -2 | -5 | -8 | -12 | -18 | -21 | -21 | -23 |
| Total Current Liabilities | 15 | 60 | 154 | 211 | 227 | 39 | 39 | 39 | 41 | 41 | 47 |
| Total Liabilities | 52 | 97 | 223 | 312 | 334 | 137 | 137 | 136 | 144 | 130 | 202 |
| Fixed Assets | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Current Assets | 1 | 1 | 2 | 3 | 4 | 4 | 4 | 4 | 16 | 9 | 43 |
| Total Current Assets | 51 | 96 | 222 | 309 | 329 | 134 | 133 | 131 | 127 | 121 | 158 |
| Total Assets | 52 | 97 | 223 | 312 | 334 | 137 | 137 | 136 | 144 | 130 | 202 |
| #(Fig in Cr.) | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Opening Cash & Cash Equivalents | 0 | 2 | 0 | 0 | 2 | 1 | 1 | 1 | 1 | 1 | 1 |
| Cash Flow from Operating Activities | 7 | -2 | -35 | -38 | -14 | -10 | -11 | -11 | -1 | -2 | -23 |
| Cash Flow from Investing Activities | -0 | 0 | -0 | -2 | -1 | 0 | 0 | -0 | -12 | 7 | -34 |
| Cash Flow from Financing Activities | -6 | 0 | 35 | 41 | 14 | 10 | 11 | 12 | 14 | -5 | 57 |
| Net Cash Inflow / Outflow | 2 | -2 | 0 | 2 | -1 | 1 | -0 | 0 | -0 | 0 | 0 |
| Closing Cash & Cash Equivalent | 2 | 0 | 0 | 2 | 1 | 1 | 1 | 1 | 1 | 1 | 1 |
| # | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Per Share (Rs) | 0.1 | 0.2 | 0.16 | -3.01 | -2.61 | -6.6 | -3.35 | -3.45 | -1.61 | -3.57 | 0.99 |
| CEPS(Rs) | 0.15 | 0.2 | 0.16 | -3.01 | -2.61 | -6.6 | -3.35 | -3.45 | -1.61 | -3.56 | 0.99 |
| DPS(Rs) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Book NAV/Share(Rs) | 16.05 | 16.25 | 14.75 | 11.73 | 9.13 | 2.53 | -0.82 | -4.28 | -5.89 | -9.46 | 6.82 |
| Core EBITDA Margin(%) | 0.28 | 0.39 | -0.19 | -0.71 | -0.79 | -3.98 | -0.88 | -61.48 | 0.23 | -8.47 | 3.42 |
| EBIT Margin(%) | 0.23 | 0.41 | 0.77 | -0.32 | 0.16 | -3.83 | 21.22 | -39.71 | 10.7 | -8.54 | 7 |
| Pre Tax Margin(%) | 0.22 | 0.41 | 0.29 | -9.55 | -6.85 | -9.19 | -522.19 | -772.55 | -18.18 | -31.41 | 5.22 |
| PAT Margin (%) | 0.14 | 0.25 | 0.13 | -6.84 | -4.79 | -7.59 | -358.07 | -450.51 | -9.92 | -28.58 | 4.92 |
| Cash Profit Margin (%) | 0.22 | 0.25 | 0.13 | -6.84 | -4.79 | -7.59 | -358 | -450.36 | -9.88 | -28.51 | 4.93 |
| ROA(%) | 0.41 | 0.61 | 0.23 | -2.59 | -1.86 | -6.47 | -5.65 | -5.85 | -2.66 | -6.01 | 6.51 |
| ROE(%) | 0.62 | 1.21 | 1.05 | -22.74 | -24.99 | -113.22 | -393.57 | 0 | 0 | 0 | 41.03 |
| ROCE(%) | 0.87 | 1.79 | 3.62 | -0.34 | 0.18 | -6.66 | 0.4 | -0.59 | 3.27 | -2.1 | 10.68 |
| Receivable days | 99.29 | 130.7 | 177.19 | 751.7 | 719.1 | 301.46 | 0 | 0 | 747.02 | 1030.91 | 84.27 |
| Inventory Days | 10.04 | 1.13 | 8.53 | 127.77 | 167.15 | 104.94 | 0 | 0 | 484.45 | 511.1 | 141.27 |
| Payable days | 29.98 | 63.87 | 127.74 | 568.12 | 572 | 233.75 | 7024.2 | 8494.77 | 419.7 | 422.72 | 57.17 |
| PER(x) | 36.67 | 11.07 | 8.39 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 9.1 |
| Price/Book(x) | 0.23 | 0.13 | 0.09 | 0.13 | 0.18 | 0.15 | -0.87 | -0.75 | -0.41 | -1.18 | 1.32 |
| Dividend Yield(%) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| EV/Net Sales(x) | 0.07 | 0.05 | 0.17 | 0.87 | 0.79 | 0.53 | 55.41 | 77.78 | 3.78 | 5.44 | 0.9 |
| EV/Core EBITDA(x) | 23.68 | 13.13 | 21.69 | -268.31 | 485.84 | -13.94 | 260.36 | -196.58 | 35.15 | -64.24 | 12.87 |
| Net Sales Growth(%) | 23.35 | 13.23 | 54.64 | -64.26 | 23.72 | 59.73 | -98.92 | -18.18 | 2021.56 | -23.13 | 662.85 |
| EBIT Growth(%) | 123.88 | 105.92 | 189.95 | -115.07 | 161.8 | -3870.87 | 105.97 | -253.13 | 671.66 | -161.38 | 725.12 |
| PAT Growth(%) | 51.15 | 96.44 | -17.3 | -1956.93 | 13.4 | -153.09 | 49.18 | -2.94 | 53.26 | -121.39 | 231.34 |
| EPS Growth(%) | 51.21 | 96.39 | -17.3 | -1957.06 | 13.39 | -153.09 | 49.18 | -2.94 | 53.26 | -121.38 | 127.69 |
| Debt/Equity(x) | 0.13 | 0.13 | 1.31 | 3.2 | 4.57 | 18.43 | -62.61 | -13.34 | -10.1 | -6.06 | 1.36 |
| Current Ratio(x) | 3.36 | 1.61 | 1.44 | 1.46 | 1.45 | 3.4 | 3.41 | 3.34 | 3.11 | 2.92 | 3.39 |
| Quick Ratio(x) | 3.36 | 1.59 | 1.37 | 1.18 | 1.2 | 1.89 | 1.88 | 1.84 | 2.12 | 1.95 | 0.6 |
| Interest Cover(x) | 30.48 | 149.27 | 1.62 | -0.04 | 0.02 | -0.71 | 0.04 | -0.05 | 0.37 | -0.37 | 3.93 |
| Total Debt/Mcap(x) | 0.59 | 1 | 14.17 | 24.22 | 24.98 | 119.5 | 71.71 | 17.88 | 24.79 | 5.12 | 1.03 |
| # | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Promoter | 45.92 | 45.92 | 33.26 | 38 | 38 | 38 | 38 | 42.47 | 41.97 | 42.47 |
| FII | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| DII | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Public | 54.08 | 54.08 | 66.74 | 62 | 62 | 62 | 62 | 57.53 | 58.03 | 57.53 |
| Others | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 |
| # | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Promoter | 1.06 | 1.06 | 2.56 | 4.16 | 4.16 | 4.16 | 4.16 | 5.01 | 4.95 | 5.01 |
| FII | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| DII | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Public | 1.25 | 1.25 | 5.14 | 6.79 | 6.79 | 6.79 | 6.79 | 6.79 | 6.85 | 6.79 |
| Others | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total | 2.31 | 2.31 | 7.7 | 10.95 | 10.95 | 10.95 | 10.95 | 11.8 | 11.8 | 11.8 |
* The pros and cons are machine generated.
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