Key Financials Snapshot

TTM · Consolidated · ₹ in Cr
Market Cap
₹97 Cr.
Stock P/E
7.8
P/B
0.6
Current Price
₹46.4
Book Value
₹ 72.3
Face Value
10
52W High
₹47.3
52W Low
₹ 28.3
Dividend Yield
0%

Swarnsarita Jewels Overview

Business

Swarnsarita Jewels India Ltd. operates within the Diamond & Jewellery sector in India. The company is primarily involved in the manufacturing, wholesale, and potentially retail of gold, diamond, and other precious gemstone jewellery. Its core business model involves sourcing raw materials (gold, rough diamonds, gemstones), designing and crafting various jewellery pieces, and then distributing them through wholesale channels to other jewellers, or potentially through its own retail outlets to end consumers. The company generates revenue by selling finished jewellery products at a margin over its material, design, and manufacturing costs.

Revenue Mix

Without specific financial data, the primary revenue streams for Swarnsarita Jewels India Ltd. are likely to originate from:

Gold Jewellery: Manufacturing and sale of gold ornaments.

Diamond Jewellery: Manufacturing and sale of diamond-studded jewellery.

Other Precious Stones/Metals: Sales related to jewellery incorporating other gemstones or platinum/silver, though gold and diamonds typically form the bulk for such companies in India.

Specific percentage contributions for these segments are not publicly available without detailed financial reports.

Industry

The Indian Diamond & Jewellery industry is one of the largest globally, characterized by its cultural significance, high consumption, and a blend of organized and highly fragmented unorganized players. Competition is intense, with established national brands (e.g., Tanishq, Malabar Gold & Diamonds, Kalyan Jewellers) and numerous regional and local jewellers. Swarnsarita Jewels India Ltd. likely positions itself either as a wholesaler/manufacturer for other retailers, or as a retail brand targeting specific consumer segments or regional markets. Its positioning against larger, more established brands would likely involve focusing on competitive pricing, unique designs, purity assurance, or catering to specific customer needs. The industry is also seeing a shift towards organized retail due to factors like hallmarking regulations and consumer trust.

MOAT

For a company in the Indian jewellery sector, potential competitive advantages (moats) could include:

Brand Reputation & Trust: A strong reputation for purity, quality, and ethical sourcing, particularly crucial in the Indian market.

Design & Craftsmanship: Ability to create unique, appealing designs that resonate with consumer preferences.

Sourcing Network: Efficient and cost-effective sourcing of gold, diamonds, and gemstones, which can impact pricing and inventory.

Distribution Network: A robust wholesale network or strategically located retail stores.

Customer Loyalty: Built through consistent quality, service, and after-sales support.

The existence and strength of these moats for Swarnsarita Jewels India Ltd. would depend on its market presence, operational efficiency, and customer perception, which cannot be definitively assessed without specific company data.

Growth Drivers

Key factors that can drive growth for Swarnsarita Jewels India Ltd. over the next 3-5 years include:

Rising Disposable Incomes: Increasing affluence among Indian consumers boosts demand for discretionary goods like jewellery.

Cultural Significance: Jewellery plays a crucial role in Indian weddings, festivals, and as an investment, ensuring sustained demand.

Shift to Organized Sector: Growing consumer preference for branded and hallmarked jewellery, benefiting organized players.

Expansion of Retail Footprint: Opening new stores or increasing presence in key markets.

E-commerce Adoption: Leveraging online channels to reach a wider customer base beyond physical locations.

Product Diversification: Introducing new collections, designs, or targeting new demographic segments.

Risks

Price Volatility of Raw Materials: Fluctuations in gold, diamond, and other precious metal/gemstone prices can impact profitability and inventory valuation.

Intense Competition: Highly competitive market with established national and local players, leading to pressure on margins.

Economic Downturn: Jewellery demand is highly sensitive to economic cycles and consumer discretionary spending.

Regulatory Changes: Changes in import duties, GST, hallmarking regulations, or anti-money laundering policies can affect operations and costs.

Reputational Risk: Issues related to product purity, quality, or ethical sourcing can severely damage brand trust.

Working Capital Management: High working capital requirements due to inventory holding and receivables.

Management & Ownership

Typically, companies in India, especially mid-sized ones, are promoter-led. This often implies that the founding family or individuals hold significant ownership and are actively involved in the management and strategic direction of the company. Management quality would ideally be assessed based on their experience in the jewellery sector, track record of navigating market cycles, strategic vision, and commitment to corporate governance. Without specific details, it can be assumed that the promoters maintain a substantial stake, aligning their interests with the company's long-term performance.

Outlook

The outlook for Swarnsarita Jewels India Ltd. is influenced by the dynamic Indian jewellery market. The bull case is supported by India's demographic advantages, rising incomes, and the strong cultural affinity for jewellery, which creates a robust demand base. The ongoing shift towards the organized sector and increasing brand consciousness could allow companies like Swarnsarita to grow market share if they can build trust and scale effectively. However, the bear case involves significant challenges such as volatile gold and diamond prices, intense competition that pressures margins, and the cyclical nature of discretionary consumer spending. Economic slowdowns or adverse regulatory changes could impact demand and profitability. Success will depend on the company's ability to manage commodity price risks, innovate with designs, strengthen its brand, and efficiently expand its reach in a highly competitive and traditional market.

Swarnsarita Jewels Share Price

Live · BSE / NSE · Inception: 1992
₹ | |
Volume
Price

Key Financials — Profit & Loss

₹ in Cr · Consolidated · annual

Swarnsarita Jewels Quarterly Results

#(Fig in Cr.) Mar 2024 Jun 2024 Sep 2024 Dec 2024 Mar 2025 Jun 2025 Sep 2025 Dec 2025 Mar 2026 Jun 2026
Net Sales 171 155 230 219 158 152 262 218 237 206
Other Income 0 0 0 0 0 0 0 -0 7 0
Total Income 172 155 230 219 158 152 262 218 244 206
Total Expenditure 170 145 227 213 160 142 252 214 244 191
Operating Profit 2 10 3 5 -2 10 10 3 -1 16
Interest 2 2 2 2 1 1 1 1 2 2
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 0 8 1 3 -4 8 9 2 -3 14
Provision for Tax 0 2 0 1 0 2 2 0 4 3
Profit After Tax 0 6 1 2 -4 6 7 2 -7 11
Adjustments 0 -0 0 0 0 0 -0 -0 0 0
Profit After Adjustments 0 6 1 2 -4 6 7 2 -7 11
Adjusted Earnings Per Share 0 3 0.4 1.1 -1.9 2.9 3.3 0.8 -3.3 5.1

Swarnsarita 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 Mar 2026 TTM
Net Sales 322 287 486 549 559 576 842 840 770 761 868 923
Other Income 5 4 4 6 7 4 8 3 2 1 7 7
Total Income 326 290 491 555 566 580 849 843 771 762 875 930
Total Expenditure 317 281 480 542 553 565 832 827 756 746 852 901
Operating Profit 9 9 11 12 13 15 18 17 16 16 24 28
Interest 5 4 4 5 5 6 7 8 9 7 7 6
Depreciation 0 0 0 0 1 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 4 4 6 7 7 8 10 8 7 9 17 22
Provision for Tax 1 1 2 2 2 2 3 2 2 4 4 9
Profit After Tax 3 3 4 5 5 5 7 6 5 5 12 13
Adjustments 0 0 0 0 0 0 0 0 0 0 0 0
Profit After Adjustments 3 3 4 5 5 5 7 6 5 5 12 13
Adjusted Earnings Per Share 1.3 1.4 2.1 2.3 2.2 2.6 3.6 3 2.3 2.5 5.9 5.9

Swarnsarita 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 Mar 2026
Shareholder's Funds 82 84 89 94 98 104 112 118 123 128 140
Minority's Interest 0 0 0 0 0 0 0 0 0 0 0
Borrowings 0 0 0 0 0 0 19 19 9 3 1
Other Non-Current Liabilities 0 0 0 0 2 1 1 1 1 0 0
Total Current Liabilities 87 87 116 140 108 121 112 112 111 93 84
Total Liabilities 169 171 205 234 208 226 244 249 243 225 226
Fixed Assets 2 2 2 2 3 5 5 5 6 1 1
Other Non-Current Assets 8 3 7 12 12 9 10 33 13 14 17
Total Current Assets 159 167 196 221 194 211 229 212 223 210 208
Total Assets 169 171 205 234 208 226 244 249 243 225 226

Swarnsarita 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 Mar 2026
Opening Cash & Cash Equivalents 14 32 20 45 41 19 32 44 41 23 12
Cash Flow from Operating Activities 1 -17 -2 -26 13 6 8 9 5 12 13
Cash Flow from Investing Activities -4 5 5 2 1 -1 2 1 -1 5 -1
Cash Flow from Financing Activities 21 0 22 20 -35 7 2 -13 -22 -28 -22
Net Cash Inflow / Outflow 18 -12 25 -4 -21 13 12 -3 -18 -11 -9
Closing Cash & Cash Equivalent 32 20 45 41 19 32 44 41 23 12 3

Swarnsarita Jewels Ratios

# Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
Earnings Per Share (Rs) 1.3 1.39 2.08 2.3 2.17 2.63 3.6 3.02 2.3 2.52 5.93
CEPS(Rs) 1.37 1.49 2.18 2.4 2.59 2.83 3.73 3.16 2.45 2.71 6.08
DPS(Rs) 0 0 0 0 0 0 0 0 0 0 0
Book NAV/Share(Rs) 39.15 40.55 42.63 44.93 47.1 49.88 53.53 56.52 58.86 61.46 67.31
Core EBITDA Margin(%) 1.41 1.85 1.34 1.16 1.14 1.84 1.19 1.59 1.82 2 1.87
EBIT Margin(%) 2.9 3.02 2.19 2.23 2.2 2.49 2.05 1.93 1.98 2.09 2.67
Pre Tax Margin(%) 1.21 1.47 1.33 1.31 1.23 1.38 1.22 1 0.86 1.19 1.91
PAT Margin (%) 0.84 1.01 0.89 0.87 0.81 0.95 0.89 0.75 0.62 0.69 1.42
Cash Profit Margin (%) 0.89 1.09 0.93 0.91 0.97 1.02 0.92 0.78 0.66 0.74 1.46
ROA(%) 1.78 1.7 2.3 2.18 2.05 2.52 3.19 2.55 1.95 2.24 5.48
ROE(%) 3.37 3.48 5 5.25 4.72 5.42 6.96 5.49 3.99 4.19 9.21
ROCE(%) 6.58 5.41 5.93 5.85 5.82 6.82 7.55 6.82 6.5 7.14 10.9
Receivable days 48.22 58.35 36.33 38.73 43.24 50.04 37.99 35.16 38.73 41.92 34.38
Inventory Days 69.26 98.09 65.64 66.67 70.26 60.11 39.65 44.89 52.19 52.35 48.1
Payable days 8.76 8.64 2.32 2.24 2.08 1.22 0.88 2.29 3.58 2.95 2.88
PER(x) 15.05 15.92 7.93 5.3 3.19 5 6.27 5.66 13.97 9.55 5.04
Price/Book(x) 0.5 0.55 0.39 0.27 0.15 0.26 0.42 0.3 0.55 0.39 0.44
Dividend Yield(%) 0 0 0 0 0 0 0 0 0 0 0
EV/Net Sales(x) 0.26 0.37 0.2 0.21 0.17 0.19 0.15 0.16 0.2 0.17 0.15
EV/Core EBITDA(x) 8.79 11.85 8.76 9.3 7.3 7.62 7.36 8.37 9.94 7.85 5.53
Net Sales Growth(%) 33.92 -10.86 69.69 12.85 1.88 2.96 46.2 -0.21 -8.36 -1.08 14.03
EBIT Growth(%) 14.99 -7.13 22.7 15.19 0.68 16.17 20.74 -6.13 -6.06 4.2 46.04
PAT Growth(%) -15.78 7.1 49.91 10.55 -5.56 20.96 36.93 -16.08 -23.82 9.62 135.06
EPS Growth(%) -15.78 7.11 49.91 10.54 -5.56 20.96 36.93 -16.08 -23.82 9.62 135.06
Debt/Equity(x) 0.92 0.94 1.19 1.4 1.03 1.12 1.13 1.03 0.88 0.67 0.51
Current Ratio(x) 1.83 1.92 1.69 1.58 1.79 1.74 2.04 1.88 2.01 2.25 2.47
Quick Ratio(x) 1.05 0.92 0.93 0.77 0.84 1.02 1.19 0.9 1.03 1.09 1.05
Interest Cover(x) 1.71 1.95 2.55 2.43 2.27 2.24 2.48 2.08 1.77 2.32 3.53
Total Debt/Mcap(x) 1.84 1.72 3.06 5.14 6.98 4.26 2.68 3.39 1.61 1.72 1.14

Growth Rates

Compounded annual
# 1 Year 3 Year 5 Year 10 Year
Sales CAGR +14% +1% +9% +10%
Operating Profit CAGR +50% +12% +10% +10%
PAT CAGR +140% +26% +19% +15%
Share Price CAGR +50% +8% +23% +7%
ROE Average +9% +6% +6% +5%
ROCE Average +11% +8% +8% +7%

Swarnsarita Jewels Shareholding Pattern

Latest · Jun 2026
100% held
Promoters 60.11 %
FII 0 %
DII (MF + Insurance) 0 %
Public (retail) 39.89 %
# Mar 2024 Jun 2024 Sep 2024 Dec 2024 Mar 2025 Jun 2025 Sep 2025 Dec 2025 Mar 2026 Jun 2026
Promoter 52.0352.0352.0352.0352.0352.0352.0352.0352.0360.11
FII 0000000000
DII 0000000000
Public 47.9747.9747.9747.9747.9747.9747.9747.9747.9739.89
Others 0000000000
Total 100100100100100100100100100100

Swarnsarita Jewels Peer Comparison

Diamond & Jewellery Edit Columns

Swarnsarita Jewels Quarterly Price

10-year quarterly close · BSE
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News & Updates

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Swarnsarita Jewels Pros & Cons

Pros

  • Stock is trading at 0.6 times its book value
  • Debtor days have improved from 2.95 to 2.88days.
  • Company has reduced debt.

Cons

  • Company has a low return on equity of 6% over the last 3 years.
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