Tara Jewels Ltd - Stock Valuation and Financial Performance

BSE: 534756 | NSE: TARAJEWELS | Diamond & Jewellery | Small Cap

BSE Share Price
Not Listed

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Tara Jewels stock performance -

mw4me loader
P/E Ratio (CD):
0.00
Market Cap:
1.9 Cr.
52-wk low:
0.8
52-wk high:
0.8

Is an attractive stock to invest in?

1. Is a good quality company?

Data is not available for this company.

2. Is undervalued or overvalued?

The key valuation ratios of Tara Jewels Ltd's currently when compared to its past seem to suggest it is in the Overvalued zone.

3. Is a good buy now?

No data found

10 Year X-Ray of Tara Jewels:

Analysis of Financial Track Record

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end
Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end.

Financial track record gives insight into the company's performance on key parameters over the past ten years. MoneyWorks4me’s proprietary colour codes make it easy for retail investors to gauge the company’s past performance.

Value Creation

Value Creation Index Colour Code Guide

Mar'09Mar'10Mar'11Mar'12Mar'13Mar'14Mar'15Mar'16Mar'17Mar'18TTM
ROCE % 7%9%13.7%15.1%14.5%10.7%9%5.5%4.2%-42.9%-
Value Creation
Index
-0.5-0.40.00.10.0-0.2-0.4-0.6-0.7NA-

Growth Parameters

Growth Parameters Colour Code Guide

Sales 7988141,1391,3991,6351,6951,7351,7951,552840134
Sales YoY Gr.-2%40%22.8%16.9%3.7%2.4%3.5%-13.6%-45.9%-
Adj EPS 513.622.727.228.619.514.63.9-2.6-208.9-311.6
YoY Gr.-169.8%67.1%20%5.3%-31.9%-25.1%-73.3%-166.2%NA-
BVPS (₹) 87.3100.9120.9152.9199.9219.5236.9245.2242.4-51.6-51.6
Adj Net
Profit
8.924.140.84970.448369.6-6.4-514-767
Cash Flow from Ops. 3399.5-7.4-39.3-43.722.150.713.469.3-94.1-
Debt/CF from Ops. 10.52.8-33-8.7-7.617.58.155.210.7-9.5-

CAGR

CAGR Colour Code Guide

9 Years 5 Years 3 Years 1 Years
Sales 0.6%-12.5%-21.5%-45.9%
Adj EPS -251.3%-248.8%-342.8%NA
BVPS-194.3%-176.3%-160.2%-121.3%
Share Price - -5.3% - -

Key Financial Parameters

Performance Ratio Colour Code Guide

Mar'09Mar'10Mar'11Mar'12Mar'13Mar'14Mar'15Mar'16Mar'17Mar'18TTM
Return on
Equity %
5.814.420.319.618.39.36.41.6-1.1-218.9603.7
Op. Profit
Mgn %
78.28.59.19.19.18.55.86.31.3NAN
Net Profit
Mgn %
1.233.63.64.32.82.10.5-0.4-61.2-573.8
Debt to
Equity
2.21.61.11.20.70.70.71.21.2-7-
Working Cap
Days
02782072162112232362863855530
Cash Conv.
Cycle
01651241141211441571912674030

Recent Performance Summary

No data to display

Return on Equity has declined versus last 3 years average to %

Sales growth has been subdued in last 3 years %

Sales growth is not so good in last 4 quarters at %

Latest Financials - Tara Jewels Ltd.

Standalone Consolidated
TTM EPS (₹) -272.2 -311.6
TTM Sales (₹ Cr.) 120 134
BVPS (₹.) -346 -51.6
Reserves (₹ Cr.) -877 -152
P/BV 0.00 -0.01
PE 0.00 0.00
From the Market
52 Week Low / High (₹) 0.75 / 0.76
All Time Low / High (₹) 0.57 / 245.45
Market Cap (₹ Cr.) 1.9
Equity (₹ Cr.) 24.6
Face Value (₹) 10
Industry PE 86.1

Management X-Ray of Tara Jewels:

Shareholding Pattern

Promoter's Holding & Share Pledging

Pledged *72.9380.9085.1285.1299.4899.4897.8397.8397.8397.83
* Pledged shares as % of Promoter's holding (%)

Event Update

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Analyst's Notes

Key Ratios of Tara Jewels

Adj EPS (Rs.)

Sales (Cr.)

ROE (%)

ROCE (%)

Profit And Loss

(All Figures are in Crores.)
PARTICULARSMar'09Mar'10Mar'11Mar'12Mar'13Mar'14Mar'15Mar'16Mar'17Mar'18
Sales797.98814.161,139.411,399.091,635.451,695.401,735.281,795.071,551.60839.85
Operating Expenses 742.53747.351,042.331,272.131,486.781,540.981,587.871,692.421,456.18852.94
Manufacturing Costs25.7125.2138.9354.7151.2461.9855.4747.2952.2126
Material Costs656.39661.35926.291,126.671,345.251,360.471,425.131,543.121,313.81726.05
Employee Cost 26.1723.9935.9539.8740.6152.9149.5945.5638.8229.61
Other Costs 34.2636.8041.1750.8849.6965.6257.6956.4651.3471.28
Operating Profit 55.4566.8197.07126.96148.67154.42147.40102.6595.42-13.09
Operating Profit Margin (%) 6.9%8.2%8.5%9.1%9.1%9.1%8.5%5.7%6.1%-1.6%
Other Income 1.911.791.416.699.968.5416.5124.5611.355.28
Interest 37.5727.2832.5447.0549.0765.0871.5578.0388.9388.81
Depreciation 6.6010.9912.3814.2313.9021.5128.0921.7122.3216
Exceptional Items -0.9000000000-598.10
Profit Before Tax 12.2930.3453.5672.3795.6576.3664.2627.47-4.48-710.72
Tax 3.295.8212.1718.4721.9825.9920.619.570.1410.18
Profit After Tax 924.5341.4053.8973.6750.3843.6617.91-4.62-720.90
PAT Margin (%) 1.1%3.0%3.6%3.9%4.5%3.0%2.5%1.0%-0.3%-85.8%
Adjusted EPS (₹)4.813.622.729.230.020.517.77.3-1.9-292.0
Dividend Payout Ratio (%)0%0%0%0%0%5%0%0%0%0%

Balance Sheet

(All Figures are in Crores.)
PARTICULARSMar'09Mar'10Mar'11Mar'12Mar'13Mar'14Mar'15Mar'16Mar'17Mar'18

Equity and Liabilities

Shareholders Fund 155.15179.26220.89275.19491.30540.44583.37603.64596.97-127.07
Share Capital 11.8511.85181824.5824.6224.6224.6224.6224.62
Reserves 143.30167.41202.89257.19466.72515.82558.74579.02572.35-151.70
Minority Interest0.761.171.730000000
Debt344.40282.05242.57338.98330.49386.06410738.89742.01894.22
Long Term Debt344.40282.05242.576.946.271.160.331.831.470.49
Short Term Debt000332.04324.22384.90409.67737.06740.54893.73
Trade Payables244.82175.63353.53382.30304.47319.12301.70481.98387.99166.51
Others Liabilities 15.1913.1117.8033.7239.0749.7046.8850.8060.98136.86
Total Liabilities 760.32651.22836.531,030.201,165.331,295.321,341.941,875.321,787.951,070.51

Fixed Assets

Gross Block83.43101.11121.69144.30156.62210.71228.74136.05145.78120.49
Accumulated Depreciation28.1539.0350.1563.4877.2194.97115.8119.1838.1739.09
Net Fixed Assets55.2862.0871.5380.8279.41115.74112.92116.87107.6181.39
CWIP 001.860.140.850.3002.8300
Investments 0.240.291.951.233.133.703.726.052.632.18
Inventories339.34307.69434.28588.97650.94693.50576.45581.03522.19387.25
Trade Receivables319.77239.02281.90316.43290.15380.77533.671,055.781,052.53537.76
Cash Equivalents 26.7626.0627.2922.34112.3871.0484.7578.1575.5943.95
Others Assets18.9316.1017.7220.2728.4730.2830.4334.6127.4017.98
Total Assets 760.32651.22836.531,030.201,165.331,295.321,341.941,875.321,787.951,070.51

Cash Flow

(All Figures are in Crores.)
PARTICULARSMar'09Mar'10Mar'11Mar'12Mar'13Mar'14Mar'15Mar'16Mar'17Mar'18
Cash Flow From Operating Activity 32.9599.45-7.35-39.28-43.6822.1450.7213.4069.30-94.07
PBT 12.2930.3453.5672.3795.6576.3664.2627.47-4.48-710.72
Adjustment 38.1631.8341.3352.6150.3469.618490.96103.46702.34
Changes in Working Capital -15.2341.64-95.28-157.75-166.05-100.93-76.65-100.49-25.45-84.66
Tax Paid -2.27-4.36-6.96-6.51-23.62-22.90-20.90-4.55-4.23-1.04
Cash Flow From Investing Activity -9.54-16.25-22.63-21.06-19.33-48.28-22.06-28.83-3.213.75
Capex -11.11-17.79-19.72-21.70-21.05-52.10-26.68-32.52-11.29-0.26
Net Investments 0.28-0.05-1.650.88-1.90-0.540.09-1.303.750.40
Others 1.291.59-1.26-0.253.624.374.524.984.333.61
Cash Flow From Financing Activity -14.42-83.9029.0155.6594.511.05-32.6411.51-67.8690.87
Net Proceeds from Shares 000.230150.030.091.22000
Net Proceeds from Borrowing 0000054.1223.51000
Interest Paid -31.64-21.55-27.17-39.87-41.39-50.28-57.37-61.20-70.99-61.19
Dividend Paid 00000-2.460000
Others 17.22-62.3555.9495.52-14.13-0.42072.703.13152.06
Net Cash Flow 8.99-0.71-0.98-4.7031.50-25.09-3.99-3.93-1.770.54
PARTICULARSMar'09Mar'10Mar'11Mar'12Mar'13Mar'14Mar'15Mar'16Mar'17Mar'18
Ratios
ROE (%)5.814.6720.8621.8719.229.777.773.02-0.77N/A
ROCE (%)9.9811.9918.6422.120.0416.1314.129.026.3N/A
Asset Turnover Ratio1.051.151.531.51.491.381.321.120.850.59
PAT to CFO Conversion(x)3.664.05-0.18-0.73-0.590.441.160.75N/AN/A
Working Capital Days
Receivable Days1461258378687296162248346
Inventory Days155145119133138145134118130198
Payable Days1361169911493848093121139

Tara Jewels Ltd Stock News

Tara Jewels Ltd FAQs

Company share prices are keep on changing according to the market conditions. The closing price of Tara Jewels on 01-Jan-1970 05:30 is ₹0.00.
Market capitalization or market cap is determined by multiplying the current market price of a company's shares with the total number of shares outstanding. As of 01-Jan-1970 05:30 the market cap of Tara Jewels stood at ₹1.85.
The latest P/E ratio of Tara Jewels as of 01-Jan-1970 05:30 is 0.00.
The latest P/B ratio of Tara Jewels as of 01-Jan-1970 05:30 is 0.00.
The 52-week high of Tara Jewels is ₹0.76 and the 52-week low is ₹0.75.
The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of Tara Jewels is ₹120.2 ( Cr.) .

About Tara Jewels Ltd

Tara Jewels was originally incorporated as a private limited company on March 16, 2001, with the name Tara Ultimo Private Limited. Thereafter, pursuant to the Scheme of Merger dated January 23, 2009 and resolution of the shareholders in the EGM dated March 13, 2009, the name of the company was changed to Tara Jewels Private Limited and a fresh certificate of incorporation dated March 25, 2009 was granted by the RoC. They became a public limited company pursuant to a special resolution of the shareholders in an EGM dated September 16, 2010. The fresh certificate of incorporation consequent to the change of status was granted to the company on September 23, 2010 by the RoC.

They are an integrated player in the jewellery industry with experience ranging from designing to retailing of jewellery. They have been the second highest exporter of studded jewellery from EPZ and EOU complexes in India for the year 2006-2007, 2007-2008 and 2008-2009. Their business can be divided into three operations namely, manufacturing, exporting and retailing. Their portfolio of products includes gold, platinum, honeydium, and silver jewellery with or without studded precious and semiprecious stones. Their products have presence across different price points and cater to customers across high-end, mid-market and value market segments.

They have four manufacturing units, of which one is located in Panyu, China. The other three units are located in Mumbai, India out of which two units are situated in SEEPZ and one in MIDC. During Fiscal 2010 and Fiscal 2009 they have achieved an aggregate production of 2562.91 kgs and 1551.50 kgs of jewellery, respectively. Their manufacturing units are spread over an area of 100,000 square feet employing 41 designers and 747 craftsmen, as on August 31, 2010. They export studded jewellery which are manufactured by us and by third party manufacturers. They export studded jewellery to jewellery chains including Christ Uhrean & Schmuck and retailers including Walmart. They primarily export to Australia, China, Canada, European Union, South Africa, UAE, UK and USA. In European Union they export to 16 countries including Austria, Germany and Switzerland. The company’s export income has grown at a CAGR of 12.05% from Fiscal 2008 to Fiscal 2010. During Fiscal 2010, 2009 and 2008, their income from exports constitutes 97.75%, 99.58% and 99.95% of their total income, respectively.

They conduct their jewellery retail business under the brand “Tara Jewels” and shortly they will be rebranding themselves as “Tara Jewellers”. They entered jewellery retailing in India in October 2008 with the launch of their existing store at Andheri, Mumbai and as on September 15, 2010 they operate 15 existing Stores spread over an aggregate area of 14,210 square feet. They intend to launch 15 Proposed Stores across India by December 31, 2010. Their retail stores span across suburban areas of metro cities, mini metros and cities with higher concentration of mid-income segment. Their sales from retail operations increased by 511.83% to Rs 142.74 million in fiscal 2010 from Rs 23.33 million in fiscal 2009.

The company has received the “Global Supplier of the Year” award from the Walmart, USA for 2005 and 2007. They have also been awarded with “Second Highest Exporter” award for the year 2006-2007, 2007-2008 and 2008-2009 among EPZ and EOU complexes by Gems and Jewellery Export Promotion Council. They have also received “Second Highest Net Foreign Exchange Earner” and “Highest Export Performance” award in SEEPZ, both for 2007-2008 in gems and jewellery sector. Further, their facility situated at SEEPZ, Mumbai has received “Green” assessment during Walmart’s ethical standard audit in 2010. All their operations are integrated into SAP.

Their Promoter, Rajeev Sheth, is a certified gemologist from Gemological Institute of America, USA and bench jeweller trained in USA and Japan. He has over 30 years of manufacturing and retail experience. He is also responsible for introducing concepts like flexible manufacturing units and turntable technology in the company.

Products:

Their portfolio of products includes gold, platinum, and silver jewellery with or without studded precious and semi-precious stones.

Milestones:

2001

  • Formation of the company as a private limited company viz., Tara Ultimo Private Limited

2003

  • Strategic investment of Fabrikant H.K Trading Limited in the company

2005

  • Tara becomes a DTC sightholder
  • Invested into a factory space admeasuring 35,000 square feet
  • Received the Global Supplier of the Year of Walmart

2006

  • Acquired the order book of Fabrikant-Leer International Limited.
  • Setting up of the subsidiaries, Tara Jewels Holding, Inc. and Fabrikant Tara International LLC.

2007

  • Set up a 31,452 square feet factory at Panyu, China
  • Got award for Highest Export Performance from SEZ, Mumbai
  • Received “Overall Excellence” award for being second highest exporter in the category of studded precious metal jewellery exports in EPZ by The Gem and Jewellery Export Promotion Council
  • Received the Global Supplier of the Year of Walmart

2008

  • Awarded with “Highest Export Performance” and “Second Highest Net Foreign Exchange Earner” award amongst gems and jewellery sector units in SEEPZ, Mumbai by SEEPZ SEZ
  • Received “Overall Excellence” award for being second highest exporter in the category of studded precious metal jewellery exports in EPZ by The Gem and Jewellery Export Promotion Council

2009

  • Launched India Retail with 3 stores.
  • Tara appointed as member of SEEPZ Authority Cell.
  • Received “Overall Excellence” award for being second highest exporter in the category of studded precious metal jewellery exports in EPZ by The Gem and Jewellery Export Promotion Council.
  • Merger of Tara Jewels Exports Private Limited and T Two International Private Limited with their company pursuant to the Scheme of Merger.

2010

  • Conversion into a public limited company.

2011

  • Certified as ‘Nominated Agency’ as per Para 4.A.4 of Foreign Trade Policy (RE 2008)

Subsidiaries:

1. Quatro Jewellery Private Limited;

Quatro Jewellery Private Limited was incorporated under the Companies Act on October 18, 1999. The objects of this company include carrying on the business of manufacturing, processing, cutting, preparing, polishing, refining, acquiring, disposing of, importing, exporting, supplying and dealing in any and all classes of diamonds, including industrial diamonds, gems, precious and semi precious stones, pearls, including cultured pearls, synthetic stones and jewellery, ornaments and personal effects made of gold, silver, platinum, diamond, gems, precious and semi-precious stones, synthetic stones, pearls, including cultured pearls whether studded or otherwise.

2. Tara Jewels Holdings, Inc;

Tara Jewels Holdings, Inc. was incorporated under Section 402 of the Business Corporation Law of the State of New York on July 13, 2006. Under the certificate of incorporation, the address to which the secretary of state shall mail a copy of any process against Tara Jewels Holdings, Inc. is National Registered Agents Inc., 875 Avenue of the Americas, New York, NY 10001. The company is engaged in the business of ownership of interests in Fabrikant Tara International LLC.

3. Fabrikant-Tara International LLC;

Fabrikant-Tara International LLC was incorporated as a limited liability company under the Delaware Limited Liability Company Act on July 13, 2006. Fabrikant-Tara International LLC is treated as a partnership for U.S federal and state income tax purposes. The total equity of Fabrikant-Tara International LLC is reflected as members’ equity as opposed to common stock and retained earnings as is the case with corporations.

4. Tara Hong Kong Private Limited; and

Tara Hong Kong Limited was incorporated as a limited liability company under the Hong Kong Companies Ordinance, on November 10, 2006 and its company number is 1086640. The company is engaged in the business of import and export of jewellery.

5. Tara China Jewelery Limited.

Tara China Jewelry Limited was incorporated as a limited company registered on Guangzhou Administration Bureau for Industry and Commerce Panyu Branch, on September 19, 2008 and its company number is 304236. The scope of business of the company is research, design, value added, production of gold, diamond products with other jewellery ornaments, sale of company’s products, plated metallic product processing (excluding electro plating), and provision of after – sales advices.

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