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Goldkart Jewels Overview

1. Business Overview

Goldkart Jewels Ltd. operates in the Diamond & Jewellery sector in India. The company is primarily engaged in the design, manufacturing (or sourcing), and retailing/wholesaling of various jewellery products. Its core business model involves offering a range of jewellery crafted from precious metals like gold, often adorned with diamonds and other precious stones. The company generates revenue through the sale of these finished jewellery pieces to consumers, likely through a combination of physical retail stores and potentially online channels.

2. Key Segments / Revenue Mix

While specific revenue contribution data is not available, Goldkart Jewels Ltd.'s primary segments would typically include:

Gold Jewellery: Ornaments made predominantly from gold, including traditional and modern designs.

Diamond Jewellery: Jewellery items where diamonds are the primary or significant precious stone, often set in gold or other metals.

Precious Stone Jewellery: Items featuring other precious or semi-precious gemstones.

The exact mix would depend on the company's strategic focus and customer base.

3. Industry & Positioning

The Indian Diamond & Jewellery industry is one of the largest globally, characterized by its significant cultural importance, especially during festivals and weddings. The market is highly fragmented, consisting of large organized national players (e.g., Titan, Malabar Gold & Diamonds, Kalyan Jewellers) and a vast number of regional and local unorganized players. Goldkart Jewels Ltd. operates within this competitive landscape. Without specific market share or brand recognition data, it is likely positioned as a regional player or a smaller national player competing on design, price, quality, and customer trust against both large incumbents and numerous local jewellers.

4. Competitive Advantage (Moat)

Without specific information, it is challenging to identify a strong, durable competitive advantage for Goldkart Jewels Ltd. Potential moats in the jewellery sector include:

Brand Reputation & Trust: A long-standing history of quality and ethical practices can build significant trust.

Design Exclusivity/Craftsmanship: Unique designs or specialized craftsmanship can attract specific customer segments.

Strong Retail Network: An extensive and well-located store presence can provide accessibility.

Supply Chain Efficiency: Direct sourcing of precious metals and stones can offer cost advantages.

However, establishing a sustainable moat in the fragmented Indian jewellery market is difficult, often requiring substantial investment in branding, design, and retail infrastructure.

5. Growth Drivers

Key factors that could drive growth for Goldkart Jewels Ltd. over the next 3-5 years include:

Rising Disposable Incomes: Increasing affluence among Indian consumers drives demand for discretionary luxury items like jewellery.

Cultural Significance: Continued strong demand driven by weddings, festivals, and gifting traditions.

Shift to Organized Retail: Consumers increasingly prefer branded and organized players due to assurances of quality, transparency (e.g., hallmarking), and modern retail experience.

Retail Expansion: Opening new stores in strategic locations, particularly in tier-2 and tier-3 cities.

E-commerce Adoption: Leveraging online platforms to reach a wider customer base and cater to changing shopping habits.

6. Risks

Gold & Diamond Price Volatility: Fluctuations in the prices of raw materials directly impact inventory costs, pricing strategies, and profit margins.

Intense Competition: The highly fragmented and competitive market can lead to pricing pressures and make market share gains difficult.

Regulatory Changes: Changes in government policies regarding import duties on gold/diamonds, hallmarking norms, or anti-money laundering regulations can impact operations.

Economic Slowdown: Jewellery demand is highly discretionary; an economic downturn can significantly reduce consumer spending.

Inventory Management: Holding large inventories of high-value items carries financial risk and requires efficient management to avoid obsolescence or capital lock-up.

Changing Fashion Trends: A failure to adapt to evolving consumer preferences and design trends can lead to stagnant sales.

7. Management & Ownership

As is common with many Indian companies, Goldkart Jewels Ltd. is likely promoted and majority-owned by a founding family or group of individuals. Without specific public disclosures, details on the specific promoters, their track record, or the broader management team's experience and quality are not readily available. The ownership structure typically involves significant promoter holdings, with the remaining shares potentially held by public shareholders or institutional investors, depending on its listing status and size.

8. Outlook

The Indian jewellery market offers significant long-term growth potential, driven by demographic trends, increasing wealth, and the cultural importance of jewellery. Goldkart Jewels Ltd., positioned within this sector, could benefit from the ongoing formalization of the industry and rising consumer demand for quality and trusted brands. However, the company faces inherent challenges including highly volatile raw material prices, intense competition from both large national players and numerous local jewellers, and the need for significant capital investment for brand building and retail expansion. Its ability to carve out a niche through distinct designs, build strong customer trust, and effectively manage its supply chain and inventory will be crucial for sustained growth and profitability in this dynamic market.

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Goldkart Jewels Key Financials

Market Cap ₹289 Cr.

Stock P/E 87.1

P/B 5.7

Current Price ₹172

Book Value ₹ 29.9

Face Value 10

52W High ₹285

Dividend Yield 0%

52W Low ₹ 172

Goldkart Jewels Share Price

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Volume
Price

Goldkart Jewels Quarterly Price

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Goldkart Jewels Peer Comparison

Goldkart Jewels Quarterly Results

#(Fig in Cr.)
Net Sales
Other Income
Total Income
Total Expenditure
Operating Profit
Interest
Depreciation
Exceptional Income / Expenses
Profit Before Tax
Provision for Tax
Profit After Tax
Adjustments
Profit After Adjustments
Adjusted Earnings Per Share

Goldkart Jewels Profit & Loss

#(Fig in Cr.) Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 TTM
Net Sales 51 54 59 67 94 62 77 58 68 82
Other Income 0 0 0 0 0 0 0 0 0 0
Total Income 51 54 59 67 94 62 77 58 68 82
Total Expenditure 50 54 58 65 93 61 75 56 65 76
Operating Profit 1 1 2 2 2 2 2 2 3 6
Interest 1 1 1 2 1 1 1 2 2 1
Depreciation 0 0 0 0 0 0 0 0 0 0
Exceptional Income / Expenses 0 0 0 0 0 0 0 1 -0 0
Profit Before Tax 0 0 0 1 0 0 0 2 1 5
Provision for Tax 0 0 0 0 0 0 0 0 0 1
Profit After Tax 0 0 0 0 0 0 0 2 1 3
Adjustments 0 0 0 0 0 0 0 0 0 0
Profit After Adjustments 0 0 0 0 0 0 0 2 1 3
Adjusted Earnings Per Share 0 0 0 0 0.1 0.1 0.1 0.9 0.6 2

Growth Rates

# 1 Year 3 Year 5 Year 10 Year
Sales CAGR 21% 2% -3% 0%
Operating Profit CAGR 100% 44% 25% 0%
PAT CAGR 200% 0% 0% 0%
# 1 Year 3 Year 5 Year 10 Year
Share Price CAGR -17% 81% 73% NA%
ROE Average 8% 6% 4% 3%
ROCE Average 11% 9% 7% 8%

Goldkart Jewels Balance Sheet

#(Fig in Cr.) Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
Shareholder's Funds 5 5 9 10 21 21 21 23 36 50
Minority's Interest 0 0 0 0 0 0 0 0 0 0
Borrowings 0 1 0 0 0 1 3 3 1 0
Other Non-Current Liabilities 0 0 0 -0 0 0 0 0 0 0
Total Current Liabilities 8 6 13 12 12 15 18 12 14 15
Total Liabilities 13 12 22 22 33 37 42 37 51 65
Fixed Assets 0 0 0 0 0 0 0 0 0 0
Other Non-Current Assets 0 0 0 0 0 0 0 1 13 25
Total Current Assets 12 12 22 22 33 37 42 36 37 40
Total Assets 13 12 22 22 33 37 42 37 51 65

Goldkart Jewels Cash Flow

#(Fig in Cr.) 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 0 0 0 0 0 0 0 0 1
Cash Flow from Operating Activities 2 1 -9 2 -9 -1 0 5 2 3
Cash Flow from Investing Activities -0 -0 0 -0 -0 -0 -0 -1 -0 -1
Cash Flow from Financing Activities -2 -1 9 -2 9 1 0 -4 -1 -2
Net Cash Inflow / Outflow 0 0 -0 0 -0 -0 0 -0 0 0
Closing Cash & Cash Equivalent 0 0 0 0 0 0 0 0 1 1

Goldkart Jewels Ratios

# 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 0 0 0 0.05 0.08 0.05 0.9 0.58 1.98
CEPS(Rs) 0.13 0.25 0.31 0.55 0.07 0.09 0.08 0.92 0.62 2.02
DPS(Rs) 0 0 0 0 0 0 0 0 0 0
Book NAV/Share(Rs) 0 0 0 0 12.61 12.69 12.74 13.64 21.32 29.92
Core EBITDA Margin(%) 2.04 1.78 2.57 3.09 1.73 2.56 2.16 3.67 4.65 7.43
EBIT Margin(%) 1.97 1.72 2.51 3.04 1.69 2.53 2.11 6.02 4.55 7.35
Pre Tax Margin(%) 0.05 0.17 0.54 0.76 0.15 0.28 0.16 3.01 1.94 5.58
PAT Margin (%) 0.03 0.11 0.32 0.54 0.09 0.21 0.12 2.59 1.43 4.03
Cash Profit Margin (%) 0.1 0.18 0.38 0.6 0.13 0.24 0.17 2.64 1.52 4.11
ROA(%) 0.13 0.5 1.08 1.64 0.3 0.37 0.22 3.8 2.22 5.73
ROE(%) 0.37 1.34 2.66 3.81 0.54 0.61 0.42 6.82 3.32 7.71
ROCE(%) 8.21 7.65 8.63 9.21 5.79 4.62 4.45 9.48 7.13 10.61
Receivable days 9.52 0 35.85 34.67 48.67 108.43 104.15 139.47 72.94 30.73
Inventory Days 76.57 75.34 85.79 83.83 56.52 94.44 81.87 101.1 118.85 130.18
Payable days 0 0 0 0 0 10.47 16.41 16.27 0 0.12
PER(x) 0 0 0 0 268.92 156.45 323.49 32.18 145.96 109.4
Price/Book(x) 0 0 0 0 1.07 0.95 1.35 2.12 3.97 7.22
Dividend Yield(%) 0 0 0 0 0 0 0 0 0 0
EV/Net Sales(x) 0.16 0.15 0.34 0.29 0.36 0.55 0.58 1.07 2.29 4.56
EV/Core EBITDA(x) 7.99 8.33 13.11 9.34 20.98 21.41 26.67 29.11 49.23 61.42
Net Sales Growth(%) 0 6.28 8.35 13.8 40.44 -33.8 23.26 -24.14 16.8 20.74
EBIT Growth(%) 0 -7.41 58.19 37.85 -21.92 -0.73 2.51 116.84 -11.67 94.84
PAT Growth(%) 0 266.31 201.78 96.17 -76.95 52.6 -30.63 1591.81 -35.49 240.47
EPS Growth(%) 0 0 0 0 0 52.79 -30.68 1591.73 -35.49 240.48
Debt/Equity(x) 1.69 1.62 1.36 1.25 0.55 0.67 0.74 0.61 0.4 0.27
Current Ratio(x) 1.61 1.87 1.71 1.8 2.78 2.48 2.29 3.08 2.64 2.73
Quick Ratio(x) 0.2 0.03 0.47 0.59 1.56 1.28 1.39 1.72 0.61 0.68
Interest Cover(x) 1.03 1.11 1.27 1.33 1.1 1.13 1.08 2 1.74 4.15
Total Debt/Mcap(x) 0 0 0 0 0.52 0.71 0.55 0.29 0.1 0.04

Goldkart Jewels Shareholding Pattern

# Sep 2021 Mar 2022 Sep 2022 Mar 2023 Sep 2023 Mar 2024 Sep 2024 Mar 2025 Sep 2025 Mar 2026
Promoter 73.19 73.19 69.32 74.14 74.14 74.14 74.14 74.14 74.14 74.14
FII 0 0 0 0 0 0 0 0 0 0
DII 0 0 0 0 0 0 0 0 0 0
Public 26.81 26.81 30.68 25.86 25.86 25.86 25.86 25.86 25.86 25.86
Others 0 0 0 0 0 0 0 0 0 0
Total 100 100 100 100 100 100 100 100 100 100

Goldkart Jewels News

Goldkart Jewels Pros & Cons

Pros

  • Company has reduced debt.
  • Company is almost debt free.

Cons

  • Company has a low return on equity of 6% over the last 3 years.
  • Debtor days have increased from 0 to 0.12days.
  • Stock is trading at 5.7 times its book value.
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