Past 10 year's financial track record analysis by Moneyworks4me indicates that PN Gadgil Jewellers Ltd is a average quality company.
The key valuation ratios of PN Gadgil Jewellers Ltd's currently when compared to its past seem to suggest it is in the Undervalued zone.
The Price Trend analysis by MoneyWorks4Me indicates it is Weak which suggest that the price of PN Gadgil Jewellers Ltd is likely to Fall in the short term. However, please check the rating on Quality and Valuation before investing.
Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end.
| Mar'21 | Mar'22 | Mar'23 | Mar'24 | TTM | |
|---|---|---|---|---|---|
| ROCE % ⓘ | 10.2% | 15.2% | 17.6% | 31.8% | - |
| Value Creation Index ⓘ | -0.2 | 0.1 | 0.3 | 1.4 | - |
Growth Parameters ⓘGrowth Parameters Colour Code Guide ⓘ | |||||
| Sales ⓘ | 1,802 | 2,465 | 4,398 | 6,032 | 6,032 |
| Sales YoY Gr. | - | 36.8% | 78.5% | 37.2% | - |
| Adj EPS ⓘ | 1.4 | 7.4 | 9.8 | 13.2 | 11.4 |
| YoY Gr. | - | 430.2% | 32.8% | 34.4% | - |
| BVPS (₹) ⓘ | 43.9 | 51.1 | 61.1 | 46.8 | 104.7 |
| Adj Net Profit ⓘ | 7.7 | 40.7 | 54.1 | 155 | 154 |
| Cash Flow from Ops. ⓘ | 113 | 28.7 | 106 | -3.4 | - |
| Debt/CF from Ops. ⓘ | 2 | 9.4 | 2.5 | -111.5 | - |
CAGR Colour Code Guide ⓘ
| 9 Years | 5 Years | 3 Years | 1 Years | |||||
|---|---|---|---|---|---|---|---|---|
| Sales ⓘ | NA | NA | 49.6% | 37.2% | ||||
| Adj EPS ⓘ | NA | NA | 111.6% | 34.4% | ||||
| BVPSⓘ | NA | NA | 2.2% | -23.5% | ||||
| Share Price | - | - | - | - | ||||
Performance Ratio Colour Code Guide ⓘ
| Mar'21 | Mar'22 | Mar'23 | Mar'24 | TTM | |
|---|---|---|---|---|---|
| Return on Equity % ⓘ | 2.5 | 12.5 | 14.5 | 32.6 | 15 |
| Op. Profit Mgn % ⓘ | 3.1 | 4 | 2.9 | 4.5 | 3.3 |
| Net Profit Mgn % ⓘ | 0.4 | 1.7 | 1.2 | 2.6 | 2.6 |
| Debt to Equity ⓘ | 0.8 | 0.8 | 0.7 | 0.7 | 0 |
| Working Cap Days ⓘ | 0 | 122 | 70 | 61 | 23 |
| Cash Conv. Cycle ⓘ | 0 | 83 | 43 | 41 | 12 |
Sales growth is growing at healthy rate in last 3 years 49.60%
Net Profit is growing at healthy rate in last 3 years 111.55%
Debt to equity has declined versus last 3 years average to 0.68
Sales growth is good in last 4 quarters at 20.15%
Return on Equity has declined versus last 3 years average to 15.00%
| Standalone | Consolidated | |
|---|---|---|
| TTM EPS (₹) | 11.4 | 11.4 |
| TTM Sales (₹ Cr.) | 6,032 | 6,111 |
| BVPS (₹.) ⓘ | 104.7 | 103.6 |
| Reserves (₹ Cr.) ⓘ | 1,578 | 1,271 |
| P/BV ⓘ | 5.78 | 5.84 |
| PE ⓘ | 53.24 | 53.19 |
| From the Market | |
|---|---|
| 52 Week Low / High (₹) | 591.70 / 843.80 |
| All Time Low / High (₹) | 591.70 / 843.80 |
| Market Cap (₹ Cr.) | 8,209 |
| Equity (₹ Cr.) | 135.7 |
| Face Value (₹) | 10 |
| Industry PE ⓘ | 91.2 |
| Pledged * | 0.00 | 0.00 |
| PARTICULARS | Mar'21 | Mar'22 | Mar'23 | Mar'24 |
|---|---|---|---|---|
| Sales | 1,802 | 2,465 | 4,398 | 6,032 |
| Operating Expenses ⓘ | 1,746 | 2,367 | 4,273 | 5,765 |
| Manufacturing Costs | 8 | 8 | 9 | 9 |
| Material Costs | 1,629 | 2,241 | 4,053 | 5,535 |
| Employee Cost | 34 | 39 | 46 | 55 |
| Other Costs ⓘ | 75 | 80 | 164 | 166 |
| Operating Profit ⓘ | 56 | 97 | 126 | 267 |
| Operating Profit Margin (%) | 3.1% | 4.0% | 2.9% | 4.4% |
| Other Income ⓘ | 23 | 9 | 6 | 7 |
| Interest ⓘ | 34 | 32 | 33 | 44 |
| Depreciation ⓘ | 24 | 19 | 19 | 21 |
| Exceptional Items ⓘ | 0 | 0 | 0 | 0 |
| Profit Before Tax ⓘ | 21 | 56 | 79 | 208 |
| Tax ⓘ | 13 | 16 | 24 | 54 |
| Profit After Tax | 7 | 40 | 55 | 154 |
| PAT Margin (%) | 0.4% | 1.6% | 1.3% | 2.6% |
| Adjusted EPS (₹) | 1.4 | 7.3 | 10.0 | 13.1 |
| Dividend Payout Ratio (%) | 0% | 0% | 0% | 0% |
| PARTICULARS | Mar'21 | Mar'22 | Mar'23 | Mar'24 | ||||||
|---|---|---|---|---|---|---|---|---|---|---|
Equity and Liabilities | ||||||||||
| Shareholders Fund | 305 | 345 | 400 | 552 | ||||||
| Share Capital ⓘ | 118 | 118 | 118 | 118 | ||||||
| Reserves ⓘ | 187 | 227 | 282 | 434 | ||||||
| Minority Interest | 0 | 0 | 0 | 0 | ||||||
| Debt | 204 | 247 | 242 | 353 | ||||||
| Long Term Debt | 38 | 69 | 96 | 84 | ||||||
| Short Term Debt | 166 | 178 | 147 | 269 | ||||||
| Trade Payables | 81 | 156 | 124 | 145 | ||||||
| Others Liabilities ⓘ | 458 | 394 | 333 | 457 | ||||||
| Total Liabilities ⓘ | 1,047 | 1,142 | 1,100 | 1,507 | ||||||
Fixed Assets | ||||||||||
| Gross Block | 310 | 249 | 242 | 286 | ||||||
| Accumulated Depreciation | 127 | 71 | 68 | 87 | ||||||
| Net Fixed Assetsⓘ | 184 | 178 | 173 | 199 | ||||||
| CWIP ⓘ | 4 | 4 | 4 | 4 | ||||||
| Investmentsⓘ | 57 | 57 | 46 | 46 | ||||||
| Inventories | 614 | 670 | 574 | 937 | ||||||
| Trade Receivables | 33 | 44 | 56 | 43 | ||||||
| Cash Equivalents | 21 | 44 | 43 | 75 | ||||||
| Others Assetsⓘ | 135 | 147 | 204 | 203 | ||||||
| Total Assets ⓘ | 1,047 | 1,142 | 1,100 | 1,507 | ||||||
| PARTICULARS | Mar'21 | Mar'22 | Mar'23 | Mar'24 |
|---|---|---|---|---|
| Cash Flow From Operating Activity ⓘ | 113 | 29 | 106 | -3 |
| PBT ⓘ | 21 | 56 | 79 | 208 |
| Adjustment ⓘ | 52 | 46 | 100 | 65 |
| Changes in Working Capital ⓘ | 48 | -64 | -37 | -239 |
| Tax Paid ⓘ | -7 | -10 | -36 | -38 |
| Cash Flow From Investing Activity ⓘ | -30 | -18 | -59 | -39 |
| Capex | -41 | -5 | -58 | -20 |
| Net Investments | 7 | -18 | -2 | -22 |
| Others ⓘ | 4 | 5 | 2 | 3 |
| Cash Flow From Financing Activityⓘ | -88 | -6 | -47 | 52 |
| Net Proceeds from Shares ⓘ | 0 | 0 | 0 | 0 |
| Net Proceeds from Borrowing ⓘ | -72 | 32 | 26 | -11 |
| Interest Paid ⓘ | -30 | -28 | -29 | -41 |
| Dividend Paid ⓘ | 0 | 0 | 0 | 0 |
| Others ⓘ | 14 | -9 | -44 | 104 |
| Net Cash Flow ⓘ | -5 | 5 | 1 | 10 |
| PARTICULARS | Mar'21 | Mar'22 | Mar'23 | Mar'24 | ||||||
|---|---|---|---|---|---|---|---|---|---|---|
| Ratios | ||||||||||
| ROE (%) | 3.1 | 15.27 | 17.84 | 34.67 | ||||||
| ROCE (%) | 10.2 | 15.2 | 17.58 | 31.83 | ||||||
| Asset Turnover Ratio | 1.72 | 2.25 | 3.92 | 4.63 | ||||||
| PAT to CFO Conversion(x) | 16.14 | 0.73 | 1.93 | -0.02 | Working Capital Days | |||||
| Receivable Days | 7 | 6 | 4 | 3 | ||||||
| Inventory Days | 124 | 95 | 52 | 46 | ||||||
| Payable Days | 18 | 19 | 13 | 9 | ||||||
The company was originally incorporated as ‘P N Gadgil Jewellers Private Limited’, a private limited company under the provisions of the Companies Act, 1956, pursuant to a certificate of incorporation dated October 28, 2013, issued by the Registrar of Companies, Maharashtra at Pune (the RoC). The name of the company was subsequently changed to ‘P N Gadgil Jewellers Limited’, upon conversion of the company from a private limited to a public limited company, pursuant to a board resolution dated February 16, 2023, and a shareholders’ resolution dated March 10, 2023, and a fresh certificate of incorporation was issued on April 5, 2023, by the RoC.
P N Gadgil Jewellers is the fastest growing jewellery brand amongst the key organised jewellery players in India. The ‘PNG’ brand derives its legacy from the ‘P N Gadgil’ brand, which has a rich heritage dating back to 1832 and a legacy of over a century. Leveraging the legacy and heritage of the ‘PNG’ brand, the company has created a strong brand recall and presence in Maharashtra offering a wide range of precious metal / jewellery products including gold, silver, platinum and diamond jewellery, across various price points and designs which cover the need of its customers and include collections that are specifically designed for special occasions, such as weddings, engagements, anniversaries and festivals, as well as everyday wear jewellery. Its products are primarily sold under its flagship brand, ‘PNG’, and various sub - brands, through multiple channels, including its retail stores and various online marketplaces, including its website.
Owing to the company’s multi-channel approach, it complements its in - store experience with its digital presence through its own website and other major online marketplaces. Additionally, it has launched its mobile application ‘PNG Jewellers’, in March 2022. Its digital presence allows it to keep its customers updated on new designs and collections and familiarise them with its product portfolio, which enhances its customers’ in-store experience. It regularly interacts with a team of designers deployed at the Karigars’ facilities for introducing new and innovative design for its jewelleries. Its design team also helps customize jewellery catering to individual requirements in terms of design, size, polish and weight. The manufacturing of all its jewellery is carried out by many experienced and skilled artisans in and outside Maharashtra (Karigars). Its brand presence and stores in Maharashtra has helped it gaining access to, and maintaining a long-standing relationship with, the Karigars, who have been working with the company for several years.
Business area of the company
The company offers a wide range of precious metal/ jewellery products, including gold, silver, platinum and diamond jewellery under its brand name 'PNG' in various price ranges and designs.
Awards, accreditations, and recognition
Major events and milestones
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