BSE: 544053 | NSE: MOTISONS | Diamond & Jewellery | Small Cap
Past 10 year's financial track record analysis by Moneyworks4me indicates that Motisons Jewellers Ltd is a average quality company.
The key valuation ratios of Motisons Jewellers Ltd's currently when compared to its past seem to suggest it is in the Overvalued zone.
The Price Trend analysis by MoneyWorks4Me indicates it is Weak which suggest that the price of Motisons 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'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | TTM | |
|---|---|---|---|---|---|---|---|---|
| ROCE % ⓘ | 7.5% | 7.7% | 8.9% | 12% | 14% | 16.7% | 16.7% | - |
| Value Creation Index ⓘ | -0.5 | -0.5 | -0.4 | -0.1 | -0 | 0.2 | 0.2 | - |
Growth Parameters ⓘGrowth Parameters Colour Code Guide ⓘ | ||||||||
| Sales ⓘ | 209 | 223 | 219 | 213 | 314 | 366 | 417 | 438 |
| Sales YoY Gr. | - | 6.9% | -1.8% | -2.7% | 47.6% | 16.5% | 13.8% | - |
| Adj EPS ⓘ | 0 | 0.1 | 0.1 | 0.2 | 0.2 | 0.3 | 0.3 | 0.4 |
| YoY Gr. | - | 25% | 0% | 200% | 53.3% | 47.8% | -2.9% | - |
| BVPS (₹) ⓘ | 1.4 | 1.4 | 1.4 | 1.6 | 1.8 | 2.1 | 3.3 | 3.5 |
| Adj Net Profit ⓘ | 2.9 | 3.5 | 3.2 | 9.7 | 14.7 | 22.2 | 32.4 | 38 |
| Cash Flow from Ops. ⓘ | 0.2 | 4.6 | 11.4 | 17.1 | 6.1 | 3.8 | -52.6 | - |
| Debt/CF from Ops. ⓘ | 749.3 | 29.2 | 12 | 8.4 | 25.1 | 43.1 | -2.1 | - |
CAGR Colour Code Guide ⓘ
| 9 Years | 5 Years | 3 Years | 1 Years | |||||
|---|---|---|---|---|---|---|---|---|
| Sales ⓘ | NA | 13.3% | 25.1% | 13.8% | ||||
| Adj EPS ⓘ | NA | 45.9% | 30.1% | -2.9% | ||||
| BVPSⓘ | NA | 18.3% | 29% | 57.8% | ||||
| Share Price | - | - | - | - | ||||
Performance Ratio Colour Code Guide ⓘ
| Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | TTM | |
|---|---|---|---|---|---|---|---|---|
| Return on Equity % ⓘ | 2.9 | 3.4 | 3.2 | 10.1 | 13.6 | 17.5 | 13.9 | 11.4 |
| Op. Profit Mgn % ⓘ | 8.5 | 8.5 | 10.8 | 14.6 | 12.3 | 13.4 | 15.2 | 15 |
| Net Profit Mgn % ⓘ | 1.4 | 1.6 | 1.4 | 4.5 | 4.7 | 6.1 | 7.8 | 8.8 |
| Debt to Equity ⓘ | 1.2 | 1.3 | 1.5 | 1.4 | 1.3 | 1.2 | 0.3 | 0 |
| Working Cap Days ⓘ | 0 | 378 | 402 | 429 | 315 | 306 | 333 | 185 |
| Cash Conv. Cycle ⓘ | 0 | 336 | 356 | 376 | 286 | 283 | 308 | 134 |
Sales growth is growing at healthy rate in last 3 years 25.07%
Net Profit is growing at healthy rate in last 3 years 30.06%
Debt to equity has declined versus last 3 years average to 0.34
Sales growth is good in last 4 quarters at 15.21%
Return on Equity has declined versus last 3 years average to 11.40%
| Standalone | Consolidated | |
|---|---|---|
| TTM EPS (₹) | 0.4 | - |
| TTM Sales (₹ Cr.) | 438 | - |
| BVPS (₹.) ⓘ | 3.5 | - |
| Reserves (₹ Cr.) ⓘ | 246 | - |
| P/BV ⓘ | 8.44 | - |
| PE ⓘ | 75.96 | - |
| From the Market | |
|---|---|
| 52 Week Low / High (₹) | 8.71 / 33.40 |
| All Time Low / High (₹) | 8.71 / 33.40 |
| Market Cap (₹ Cr.) | 2,909 |
| Equity (₹ Cr.) | 98.5 |
| Face Value (₹) | 1 |
| Industry PE ⓘ | 83.9 |
| Pledged * | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| PARTICULARS | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 |
|---|---|---|---|---|---|---|---|
| Sales | 208 | 223 | 219 | 213 | 314 | 366 | 417 |
| Operating Expenses ⓘ | 191 | 204 | 195 | 182 | 276 | 317 | 353 |
| Manufacturing Costs | 3 | 3 | 2 | 2 | 4 | 4 | 5 |
| Material Costs | 180 | 191 | 186 | 173 | 263 | 300 | 334 |
| Employee Cost | 5 | 6 | 6 | 5 | 6 | 8 | 9 |
| Other Costs ⓘ | 3 | 5 | 2 | 2 | 3 | 6 | 6 |
| Operating Profit ⓘ | 18 | 19 | 24 | 31 | 39 | 49 | 63 |
| Operating Profit Margin (%) | 8.5% | 8.5% | 10.8% | 14.6% | 12.3% | 13.4% | 15.2% |
| Other Income ⓘ | 0 | 0 | 0 | 0 | 0 | 1 | 0 |
| Interest ⓘ | 12 | 13 | 16 | 15 | 16 | 18 | 17 |
| Depreciation ⓘ | 1 | 1 | 3 | 3 | 3 | 2 | 2 |
| Exceptional Items ⓘ | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit Before Tax ⓘ | 5 | 5 | 4 | 13 | 20 | 30 | 45 |
| Tax ⓘ | 2 | 1 | 1 | 3 | 5 | 8 | 12 |
| Profit After Tax | 3 | 3 | 3 | 10 | 15 | 22 | 32 |
| PAT Margin (%) | 1.4% | 1.6% | 1.4% | 4.5% | 4.7% | 6.1% | 7.7% |
| Adjusted EPS (₹) | 0.1 | 0.1 | 0.1 | 0.1 | 0.2 | 0.3 | 0.3 |
| Dividend Payout Ratio (%) | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
| PARTICULARS | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | |||
|---|---|---|---|---|---|---|---|---|---|---|
Equity and Liabilities | ||||||||||
| Shareholders Fund | 100 | 104 | 92 | 101 | 115 | 137 | 328 | |||
| Share Capital ⓘ | 75 | 75 | 65 | 65 | 65 | 65 | 98 | |||
| Reserves ⓘ | 25 | 29 | 27 | 36 | 50 | 72 | 230 | |||
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |||
| Debt | 124 | 132 | 137 | 140 | 148 | 161 | 108 | |||
| Long Term Debt | 1 | 10 | 9 | 19 | 16 | 13 | 1 | |||
| Short Term Debt | 123 | 123 | 127 | 121 | 132 | 148 | 108 | |||
| Trade Payables | 23 | 15 | 19 | 14 | 19 | 18 | 17 | |||
| Others Liabilities ⓘ | 4 | 6 | 20 | 20 | 22 | 20 | 21 | |||
| Total Liabilities ⓘ | 250 | 257 | 267 | 275 | 306 | 336 | 474 | |||
Fixed Assets | ||||||||||
| Gross Block | 18 | 19 | 22 | 22 | 25 | 21 | 22 | |||
| Accumulated Depreciation | 4 | 5 | 8 | 11 | 13 | 13 | 15 | |||
| Net Fixed Assetsⓘ | 14 | 15 | 14 | 12 | 11 | 7 | 7 | |||
| CWIP ⓘ | 1 | 1 | 1 | 1 | 0 | 0 | 0 | |||
| Investmentsⓘ | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |||
| Inventories | 225 | 230 | 232 | 240 | 284 | 320 | 413 | |||
| Trade Receivables | 1 | 1 | 6 | 2 | 2 | 1 | 1 | |||
| Cash Equivalents | 5 | 4 | 2 | 6 | 5 | 3 | 33 | |||
| Others Assetsⓘ | 4 | 6 | 12 | 13 | 3 | 4 | 20 | |||
| Total Assets ⓘ | 250 | 257 | 267 | 275 | 306 | 336 | 474 | |||
| PARTICULARS | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 |
|---|---|---|---|---|---|---|---|
| Cash Flow From Operating Activity ⓘ | 0 | 5 | 11 | 17 | 6 | 4 | -53 |
| PBT ⓘ | 5 | 5 | 4 | 13 | 20 | 30 | 45 |
| Adjustment ⓘ | 13 | 14 | 19 | 18 | 19 | 20 | 18 |
| Changes in Working Capital ⓘ | -15 | -13 | -11 | -11 | -27 | -38 | -103 |
| Tax Paid ⓘ | -3 | -1 | -1 | -3 | -5 | -8 | -12 |
| Cash Flow From Investing Activity ⓘ | -1 | -2 | 0 | -1 | 1 | 2 | -3 |
| Capex | -1 | -2 | 0 | -1 | -1 | 2 | -2 |
| Net Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Others ⓘ | 0 | 0 | 0 | 0 | 1 | 0 | -1 |
| Cash Flow From Financing Activityⓘ | 2 | -4 | -13 | -13 | -7 | -8 | 85 |
| Net Proceeds from Shares ⓘ | 0 | 0 | 0 | 0 | 0 | 0 | 159 |
| Net Proceeds from Borrowing ⓘ | -1 | 9 | 0 | 10 | -3 | -3 | -12 |
| Interest Paid ⓘ | -12 | -13 | -16 | -15 | -16 | -18 | -17 |
| Dividend Paid ⓘ | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Others ⓘ | 15 | 0 | 4 | -7 | 12 | 13 | -44 |
| Net Cash Flow ⓘ | 1 | -1 | -2 | 4 | -1 | -3 | 30 |
| PARTICULARS | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | |||
|---|---|---|---|---|---|---|---|---|---|---|
| Ratios | ||||||||||
| ROE (%) | 3.29 | 3.8 | 3.42 | 10.05 | 13.63 | 17.56 | 13.85 | |||
| ROCE (%) | 7.52 | 7.73 | 8.89 | 12.03 | 13.99 | 16.68 | 16.65 | |||
| Asset Turnover Ratio | 0.84 | 0.89 | 0.84 | 0.79 | 1.09 | 1.14 | 1.03 | |||
| PAT to CFO Conversion(x) | 0 | 1.67 | 3.67 | 1.7 | 0.4 | 0.18 | -1.66 | Working Capital Days | ||
| Receivable Days | 1 | 2 | 6 | 7 | 2 | 2 | 1 | |||
| Inventory Days | 390 | 368 | 381 | 401 | 302 | 301 | 321 | |||
| Payable Days | 47 | 37 | 34 | 35 | 23 | 23 | 19 | |||
Motisons Jewellers was originally formed as partnership firm under the name and style of M/s MOTISONS JEWELLERS, pursuant to a deed of partnership dated October 16, 1997 as amended and restated from time to time. M/s Motisons Jewellers was thereafter converted into a public limited company in the name and style of Motisons Jewellers Limited on May 09, 2011 pursuant to the provisions of Companies Act, 1956 and was granted a certificate of incorporation dated May 09, 2011 issued by the Registrar of Companies, Jaipur, Rajasthan.
It is a Jewellery retail player with a history of more than 2 decades in the jewellery industry having experienced entrepreneurs. Its jewellery business includes the sale of jewellery made of gold, diamond, kundan and sale of other jewellery products that include pearl, silver, platinum, precious, semi-precious stones and other metals. Its other offerings include gold and silver coins, utensils and other artifacts. It commenced its business through a partnership firm 'M/s Motisons Jewellers' in 1997 which was subsequently converted into public limited company in 2011 and currently have presence across multiple prominent locations in Jaipur, Rajasthan.
It primarily source finished jewellery from third party suppliers located across India. This includes all types of jewellery made of gold, diamond and other precious and semi-precious stones. Additionally, to cater to the increasing demand in the market, it also engage artisans on job work basis and have its own manufacturing facilities located in Jaipur, Rajasthan for diamond and gem stone studded jewellery. It outsources the work of making ornaments to various artisans with whom it have developed relationships. It offers a large variety of handcrafted jewellery, which are designed and manufactured by its in-house designers in close collaboration along with skilled local craftsman located across the country. To ensure optimum prices and mitigate the risk of suppliers' concentration, it procures raw materials from various suppliers across the country. This procurement process enables it to offer a wide range of products.
Its product profile includes traditional, contemporary and combination designs across jewellery lines, for special occasions such as weddings and festivals to daily wear jewellery for all ages, genders and across various price points. Its offerings include gold jewellery, diamond jewellery and other silverware from handmade Indian ethnic to the cutting-edge styles of the urban world. Its gold, diamond and other jewellery inventory in each showroom reflects customer preferences and designs. Its focus on design and innovation, its ability to recognize consumer preferences and market trends, the intricacy of its designs and the quality of its products are its key strengths.
Business area of the company
The company primarily sources finished jewellery from third party suppliers located across India. This includes all types of jewellery made of gold, diamond and other precious and semi-precious stones
Products of the company
Awards, accreditations or recognition
History and milestones
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MoneyWorks4Me rates and ranks mutual funds based on the following data-driven system:
Funds ranking in screeners: Performance Consistency and Quality are two parameters used for ranking funds for SIP. The ranking as follows GG, GO, GR, OG, OO, OR, RG, RO and RR.
With the same color-coded funds, the one with the higher Average 3-year rolling returns (over 5 to 10 years), the number that appears in the Performance tag, ranks higher.
Here is the summary:
The third tag Upside Potential is not relevant for SIP. It is relevant for lumpsum investments in Mutual Funds.
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