PC Jeweller Ltd

PC Jeweller Ltd

₹ 70.6 5.03%
22 Jul 3:29 p.m.
About

PC Jeweller is engaged in the business of manufacturing, sale and trading of gold jewellery, diamond-studded jewellery and silver items and operates in different geographical areas. The Company’s export business of gold jewellery is on a B2B basis through its dealers based in the Gulf via Dubai based firms. [1] The company has a team of in-house designers.

Key Points

Brands
PC Jeweller owns jewellery sub-brands: Azva, Swarn Dharohar, LoveGold, Inayat and Mirosa and has launched many new jewellery designs under its sub-brands and Lal Quila collection. During FY20, the Company for the first time in India launched silver and gold medallions to commemorate ICC Cricket World Cup 2019. [1]

  • Market Cap 3,287 Cr.
  • Current Price 70.6
  • High / Low 73.7 / 25.4
  • Stock P/E
  • Book Value 63.0
  • Dividend Yield 0.00 %
  • ROCE -1.75 %
  • ROE -19.0 %
  • Face Value 10.0

Pros

  • Stock is trading at 1.15 times its book value

Cons

  • Company has low interest coverage ratio.
  • The company has delivered a poor sales growth of -41.3% over past five years.
  • Company has a low return on equity of -11.0% over last 3 years.
  • Debtor days have increased from 79.4 to 110 days.
  • Working capital days have increased from 1,877 days to 3,430 days

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.

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Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024
868 247 560 611 189 547 898 854 173 68 449 40 48
740 228 520 575 379 463 750 818 194 111 503 113 50
Operating Profit 128 18 40 36 -190 85 147 36 -20 -43 -54 -73 -2
OPM % 15% 7% 7% 6% -101% 15% 16% 4% -12% -64% -12% -182% -3%
3 15 -3 2 39 76 61 29 -2 5 45 3 11
Interest 95 93 108 123 114 122 122 125 124 125 124 126 130
Depreciation 8 7 7 7 7 7 7 7 7 7 5 5 4
Profit before tax 28 -67 -78 -91 -273 33 79 -67 -152 -170 -137 -201 -124
Tax % -115% -2% 1% -19% -37% -129% -9% -9% 98% 1% 1% -1% -2%
60 -66 -79 -74 -173 74 86 -61 -302 -172 -138 -198 -122
EPS in Rs 1.28 -1.41 -1.70 -1.58 -3.72 1.60 1.85 -1.31 -6.50 -3.69 -2.97 -4.25 -2.61
Raw PDF

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
3,990 5,325 6,361 7,301 8,464 9,610 8,672 5,206 2,825 1,605 2,472 605
3,507 4,726 5,631 6,543 7,699 8,620 8,374 4,749 2,410 1,696 2,216 777
Operating Profit 482 599 730 758 765 990 298 457 415 -91 256 -171
OPM % 12% 11% 11% 10% 9% 10% 3% 9% 15% -6% 10% -28%
20 36 59 50 97 92 77 80 24 53 163 64
Interest 127 153 227 251 286 324 354 374 396 442 499 505
Depreciation 10 12 23 23 22 21 19 37 35 28 27 20
Profit before tax 365 469 540 534 554 737 2 125 8 -508 -108 -632
Tax % 20% 24% 30% 25% 24% 27% 70% 34% -694% -23% 88% -0%
291 356 378 398 421 536 1 83 62 -391 -203 -629
EPS in Rs 8.12 9.95 10.56 11.12 11.75 13.58 0.02 2.10 1.33 -8.40 -4.37 -13.52
Dividend Payout % 6% 15% 15% 15% 4% 4% -0% -0% -0% -0% -0% -0%
Compounded Sales Growth
10 Years: -20%
5 Years: -41%
3 Years: -40%
TTM: -76%
Compounded Profit Growth
10 Years: %
5 Years: %
3 Years: %
TTM: -210%
Stock Price CAGR
10 Years: 1%
5 Years: 12%
3 Years: 38%
1 Year: 117%
Return on Equity
10 Years: 2%
5 Years: -6%
3 Years: -11%
Last Year: -19%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
Equity Capital 179 179 179 179 179 394 395 395 465 465 465 465
Reserves 1,210 1,503 1,811 2,230 3,173 3,487 3,526 3,608 3,804 3,423 3,225 2,466
233 1,004 682 970 803 1,116 2,121 2,429 2,414 3,391 3,736 4,150
1,813 1,546 2,052 2,371 3,242 3,987 1,608 1,465 1,214 266 209 188
Total Liabilities 3,435 4,233 4,724 5,751 7,397 8,984 7,649 7,897 7,898 7,545 7,636 7,269
63 84 90 91 88 93 74 169 139 121 115 71
CWIP 1 1 -0 -0 -0 1 1 1 -0 -0 1 -0
Investments 443 185 13 8 9 19 8 8 15 3 2 3
2,929 3,963 4,621 5,652 7,299 8,872 7,566 7,720 7,744 7,421 7,518 7,196
Total Assets 3,435 4,233 4,724 5,751 7,397 8,984 7,649 7,897 7,898 7,545 7,636 7,269

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
520 -786 333 16 794 358 -1,931 76 91 -719 100 64
-592 246 213 -25 -530 -378 978 38 94 115 30 7
141 571 -565 16 47 -4 652 -170 -156 570 -111 -108
Net Cash Flow 68 31 -19 7 312 -24 -302 -57 30 -34 19 -37

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
Debtor Days 62 43 45 49 66 70 84 132 185 65 63 110
Inventory Days 186 194 219 225 206 232 227 434 954 1,465 1,012 3,044
Days Payable 176 105 123 126 147 160 57 87 150 4 3 7
Cash Conversion Cycle 71 132 140 147 125 142 253 479 988 1,526 1,072 3,147
Working Capital Days 69 136 126 142 114 121 234 417 808 1,307 896 3,430
ROCE % 36% 29% 28% 26% 22% 23% 7% 8% 6% -1% 5% -2%

Shareholding Pattern

Numbers in percentages

Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024
54.53% 54.53% 54.53% 54.53% 54.53% 54.53% 54.53% 54.53% 54.53% 54.53% 54.53% 54.53%
0.79% 0.80% 0.99% 1.12% 1.41% 2.15% 1.65% 1.04% 0.84% 0.78% 0.93% 2.57%
1.49% 1.49% 1.49% 1.49% 1.49% 1.45% 1.45% 1.45% 1.49% 1.45% 1.45% 1.45%
43.19% 43.17% 42.97% 42.85% 42.56% 41.87% 42.36% 42.98% 43.15% 43.24% 43.08% 41.45%
No. of Shareholders 2,18,7692,19,3322,16,6192,06,8111,87,3831,72,8811,93,1852,01,2462,25,9162,30,3522,10,4002,09,539

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

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