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Asian Star Company Ltd (ASTAR)

Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 531847 NSE: ASTAR Diamond & Jewellery | Small Cap | Asian Star Co Share Price

₹615 -8.00 (-1.28%)

As on 14-Oct'26 16:59

Asian Star Company Ltd (ASTAR)

Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 531847 NSE: ASTAR Diamond & Jewellery | Small Cap | Asian Star Co Share Price

₹615 -8.00 (-1.28%)

As on 14-Oct'26 16:59

Key Metrics
Valuation Multiples
Market Cap
₹1,021 Cr.
Current Price
₹615
52-Week Low / High
₹533 / 842
TTM EPS
₹20.7
TTM Sales
₹2,804 Cr.
Book Value per Share
₹1,045.3
P/E Ratio
30.82
Higher than its 5-year historical median
Industry PE
50
Price to Book (P/B)
0.61
Lower than its 5-year historical median
Price to Sales (P/S)
0.36
Lower than its 5-year historical median
EV/EBITDA
15.87
In line with its 5-year historical median
Dividend Yield
0.24%
Profitability Efficiency
Return on Equity (ROE)
2.51%
Underperforms industry median
Return on Capital Employed (ROCE)
3.64%
Underperforms industry median
Return on Assets (ROA)
1.66%
Operating Profit Margin
2.3%
Net Profit Margin
1.4%
Gross Profit Margin
2.1%
Growth Momentum
1-yr vs 3-yr growth
Sales Growth (1 Year)
Improving versus 3-year growth rate
-5.59%
Operating Profit Growth (1 Year)
Improving versus 3-year growth rate
-22.95%
Net Profit Growth (1 Year)
Improving versus 3-year growth rate
-2.46%
Asset Quality
Promoter Holding
74.66%
Pledged shares (%) of Promoter's holding (%)
0.00%
Reserves
₹1,657 Cr.
Equity
₹16 Cr.
Face Value
₹10
All Time Low / High
₹50.00 / 1614.20

Asian Star Company stock performance

Key Ratios
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Quality

Somewhat Good
Check detailed performance

Valuation

Undervalued

Check Valuation charts

Price Trend

Semi Strong
Check Price chart
Q.1 Is Asian Star Company Ltd a good quality company?
Asian Star Company Ltd is a average quality company, based on a somewhat consistent multi-year financial track record.

This assessment is based on company’s performance on Revenue growth, ROCE, Equity and Assets, key margin ratios, cash conversion cycle, and debt to cash flow from operations and how it compares with its long term averages.

View More

We have analysed the performance of the company on the following:

  • How has it performed on generating Profits?

    By checking its Revenue growth, Gross, Operating and Net Margins compared to its last 5-year median.

  • How efficiently has it utilized Capital?

    By checking its ROCE, ROA, ROE and its Cash Conversion Cycle.

  • How is it managing its Debt?

    By checking its Debt to Equity and Cash Flow from Operations.

View More
How does Asian Star Company Ltd performance compare with that of its Peers?
Q.1 Revenue growth of Asian Star Company Ltd vs industry peers?
Asian Star Company Ltd revenue CAGR is 2.52%, compared to the industry median CAGR of 0%, indicating faster growth and gaining its market share.
Q.1 Promoter shareholding and pledge status of Asian Star Company Ltd?
Promoters hold 74.66% of the Asian Star Company Ltd, with 0.00% of their stake pledged, indicating no pledge risk.
Q.1 Stock return of Asian Star Company Ltd over the last decade?
Over the last 9 year(s), the stock has delivered a CAGR of -1.7% based on the current price.
View More

10 Year X-Ray :

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.
Asian Star Company Ltd has performed well in some of the past ten years indicating its past ten year financial track record is somewhat good

Value Creation ⓘ

Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25Mar'26TTM
ROCE % ⓘ6.6%6.2%6.2%4.4%3.8%5.9%7.1%7.6%5.2%4.4%-
Value Creation
Index ⓘ		-0.5-0.6-0.6-0.7-0.7-0.6-0.5-0.5-0.6-0.7-

Growth Parameters ⓘ
Sales ⓘ2,6972,8092,4502,1631,6873,0343,4272,6982,3362,2062,198
Sales YoY Gr.-4.2%-12.8%-11.7%-22%79.8%12.9%-21.3%-13.4%-5.6%-
Adj EPS ⓘ27.525.926.820.134.839.841.435.525.621.617.2
YoY Gr.--6%3.4%-25.1%73.4%14.4%4.1%-14.4%-27.9%-15.8%-
BVPS (₹) ⓘ404.9443.1467484.2513.3548.2582.5621.4644663.4670.3
Adj Net
Profit ⓘ		4441.442.832.155.763.766.356.840.934.528
Cash Flow from Ops. ⓘ129114119115164-16246-10.5164109-
Debt/CF from Ops. ⓘ66.95.85.43-3.913.6-65.23.24.5-

CAGR ⓘ

9 Years 5 Years 3 Years 1 Years
Sales ⓘ-2.2%5.5%-13.7%-5.6%
Adj EPS ⓘ-2.7%-9.1%-19.6%-15.8%
BVPSⓘ5.6%5.3%4.4%3%
Share Price -1.4% -7.3% -10.5% -14.3%

Key Financial Parameters ⓘ

Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25Mar'26TTM
Return on
Equity % ⓘ		76.15.94.277.57.35.943.32.6
Op. Profit
Mgn % ⓘ		3.83.54.13.62.833.43.73.22.52.2
Net Profit
Mgn % ⓘ		1.61.51.81.53.32.11.92.11.81.61.3
Debt to
Equity ⓘ		1.21.10.90.80.60.70.70.70.50.5-
Working Cap
Days ⓘ		174169185191238150155209232218130
Cash Conv.
Cycle ⓘ		12112414015117110310715016716772

Valuation of Asian Star Co - Consolidated

YTD 1Y 3Y 5Y 10Y Max
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YTD 1Y 3Y 5Y 10Y Max
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YTD 1Y 3Y 5Y 10Y Max
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YTD 1Y 3Y 5Y 10Y Max
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Analyst's Notes

data not found
No data found!

Management X-Ray

Shareholding Pattern

Promoter's Holding & Share Pledging

Pledged *0.000.000.000.000.000.000.000.000.000.00
* Pledged shares as % of Promoter's holding (%)

Financials

PARTICULARSMar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25Mar'26
Sales3,4943,9053,6423,0532,5444,4234,4783,5232,9562,882
Operating Expenses ⓘ + 3,3623,7303,4612,9402,4824,2914,3393,4072,8752,819
Manufacturing Costs197251268299204352363344278271
Material Costs3,0533,3543,0792,5232,1903,8123,8292,9372,4582,400
Employee Cost 59675760486159667882
Other Costs ⓘ 53575758406789606067
Operating Profit ⓘ 132175182113631321391168163
Operating Profit Margin (%) 3.8%4.5%5.0%3.7%2.5%3.0%3.1%3.3%2.7%2.2%
Other Income ⓘ + 7852201012322224
Exceptional Items ⓘ -0-5-30-4-5-10-30
Interest ⓘ 313530225933403527
Depreciation ⓘ 18171716151412121110
Profit Before Tax ⓘ 901271377859113105975450
Tax ⓘ 24172114-51922201310
Profit After Tax 6610911663649483784140
PAT Margin (%) 1.9%2.8%3.2%2.1%2.5%2.1%1.9%2.2%1.4%1.4%
Adjusted EPS (₹)41.368.271.839.639.958.651.648.327.025.3
Dividend Payout Ratio (%)3.60%2.20%2.10%3.80%3.80%2.60%2.90%3.10%5.60%5.90%
PARTICULARSMar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25Mar'26

Equity and Liabilities

Shareholders Fund + 8439501,0751,1651,2141,3151,4351,5131,5661,661
Share Capital ⓘ 16.0116.0116.0116.0116.0116.0116.0116.0116.0116.01
Reserves ⓘ 8279341,0591,1491,1981,2991,4191,4971,5501,645
Debt +978844690663549691628741528493
Long Term Debt25235251515053535852
Short Term Debt953822639613498641575688470441
Minority Interest-333-2-2-2-2-2-4-4-3
Trade Payables337229201130219354371382242232
Others Liabilities ⓘ 812609477687575817690
Total Liabilities ⓘ 2,2362,3172,0592,0342,0482,4332,5072,7132,4082,473

Fixed Assets

Net Fixed Assets ⓘ +260241229217203178168173163157
Gross Block363356357352348312302318299300
Accumulated Depreciation103115128134145134135146136142
CWIP ⓘ 0000001000
Investments ⓘ 32657266858364807998
Inventories630559566554485565767921744728
Trade Receivables8629257656678061,0481,0491,087934886
Cash Equivalents 295405312341334305319316315331
Others Assets ⓘ 157121114188135254140137172272
Total Assets ⓘ 2,2362,3172,0592,0342,0482,4332,5072,7132,4082,473
PARTICULARSMar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25Mar'26
Cash Flow From Operating Activity ⓘ + 63278128105116-17694-6723090
PBT ⓘ 901271377859113105975750
Adjustment ⓘ 36524971-191980233679
Changes in Working Capital ⓘ -40117-36-2679-283-67-168159-29
Tax Paid ⓘ -24-18-21-17-3-26-24-19-21-10
Cash Flow From Investing Activity ⓘ + -44-34-12-4-1161630170
Capex -13-3-8-5-06-316-4-3
Net Investments -31-31-40-0109-25-12
Others ⓘ 00000010151616
Cash Flow From Financing Activity ⓘ + -188-134-208-71-123132-9734-248-74
Net Proceeds from Shares ⓘ 0000000000
Net Proceeds from Borrowing ⓘ 2-229-10-1305-6
Interest Paid ⓘ -28-31-26-20-4-5-30-38-34-26
Dividend Paid ⓘ -2-2-2-2-2-2-2-2-2-2
Others ⓘ -161-99-209-49-117141-6874-217-41
Net Cash Flow ⓘ -170110-9329-7-2813-3-016
PARTICULARSMar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25Mar'26
Ratios
ROE (%)8.1212.1811.435.645.387.446.035.262.72.51
ROCE (%)6.478.929.355.563.576.56.786.344.123.64
Asset Turnover Ratio1.521.721.661.491.251.971.811.351.151.18
PAT to CFO Conversion(x)0.952.551.11.671.81-1.871.13-0.865.612.25
Working Capital Days
Receivable Days90.3083.5084.7085.60105.7076.5085.50110.60124.80115.20
Inventory Days56.3055.6056.406774.5043.3054.3087.40102.8093.30
Payable Days38.5030.8025.502429.1027.4034.5046.8046.3036

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Announcements

Asian Star Company Ltd FAQs

The current trading price of Asian Star Co on 14-Oct-2026 16:59 is ₹615.0.

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 13-Oct-2026 the market cap of Asian Star Co stood at ₹1,021.2 Cr

The latest P/E ratio of Asian Star Co as of 13-Oct-2026 is 37.13.

The latest P/B ratio of Asian Star Co as of 13-Oct-2026 is 0.95.

The 52-week high of Asian Star Co is ₹842.0 and the 52-week low is ₹533.1.

The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of Asian Star Co is ₹2,198 ( Cr.) .

Past 10 year's financial track record analysis by Moneyworks4me indicates that Asian Star Company Ltd is a average quality company.

The key valuation ratios of Asian Star Company 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 Semi Strong which suggest that the price of Asian Star Company Ltd is likely to Rise-somewhat in the short term. However, please check the rating on Quality and Valuation before investing.

About Asian Star Company Ltd

Established in 1971 and headquartered in Mumbai, Asian Star Company Limited is one of the world's leading integrated diamantaires. The Company straddles the entire value chain and has a formidable presence in diamond manufacturing, jewellery manufacturing and retailing.

The Parent Company has three wholly owned foreign subsidiaries - Asian Star DMCC, Asian Star Co. Ltd (USA) and Asian Star Trading (Hong Kong) Ltd. & one jointly controlled associate Partnership Firm in India - Shah Manufacturers.

The Parent Company, its subsidiaries and jointly controlled associate are engaged in the business of diamond cutting and polishing, jewellery manufacturing and retailing. The Parent Company is also engaged in the ownership, operation and maintenance of wind turbines for generation of electricity through wind power in India

Its team of qualified and skilled artisans exhibits the finest art of manufacturing the best polished makes from rough diamonds. Its technologically advanced manufacturing set-up in Surat, India.

Wide Area Network computerization, online manufacturing processes and eco-friendly environment elevate its infrastructure to a world-class level. All processes follow stringent quality norms and its management systems confirm with ISO 9001: 2015 certified by TUV NORD.

Business area of the company

The company is one of the world’s leading diamantaires primarily engaged in the business of diamond cutting and polishing, jewellery manufacturing and retailing. The company is also engaged in generation of electricity through wind power in India.

Awards and Achievements

  • 1992: Awarded 1st position for Highest Export - GJEPC.
  • 1992: Trophy for Meritorious Export Growth - Government of India.
  • 1993: 2nd Highest Exporter Award - GJEPC.
  • 1993: National Award for Highest Export Growth - The President of India.
  • 1994: Certificate of Merit for outstanding Export - Government of India.
  • 1996: 5th Highest Exporter Award - GJEPC.
  • 1988: 4th Highest Exporter Award - GJEPC.
  • 1999: 3rd Highest Exporter Award - GJEPC.
  • 1999: 12th position amongst Indian Exporters - FIEO.
  • 2000: Certificate of Excellence in Export - FIEO.
  • 2000: 5th Highest Exporter Award - GJEPC.
  • 2001: Niryat Shree/Niryat Bandhu Award -Silver Trophy - FIEO.
  • 2001: 1st Award for Highest Export - GJEPC.
  • 2002: Niryat Shree/Niryat Bandhu Award - Silver Trophy - FIEO.
  • 2002: Awarded 1st position for Highest Export - GJEPC.
  • 2003: Awarded 1st position for Highest Export - GJEPC.
  • 2003: 112th position in market cap - ET 500.
  • 2004: Awarded 1st position for Highest Export - GJEPC.
  • 2007: Won the Tahitian Pearl Trophy 2007.
  • 2007: Bagged the Solitaire Design Awards in the Pret (Futuristic) category.
  • 2008: Won the Solitaire Design Awards in the Daily Wear category.
  • 2008: Won the Gold Award at the 7th International South Sea Pearl Jewellery Design Competition in the Earrings category.
  • 2009: Shagun Jewels bagged the ‘The Retail Jeweller Awards 2009’ in the innovative Jewellery of the year category.
  • 2010: Asian Star bags First Award in the Export House category - Government of Maharashtra.
  • 2010: Won the Solitaire Design Awards in the Daily Wear category.
  • 2011: Awarded 1st prize in the Solitaire Design Awards 2011 for Formal Wear category.
  • 2012: Won the Rio Tinto Diamonds Global Design Competition under Champagne Diamonds category.
  • 2019: Ranked 476 in the “Top 500 Corporations of India” in 2019 by Fortune India.
  • 2020: The company’s designers Harjas Kaur, Namrata Bhardwaj  and Arif Hossain won the Artisan Awards; winning pieces were manufactured by A'Star Jewellery.
  • 2020: 'A2+' rating for short-term and 'A- ; Negative' rating for long-term bank facilities by CARE (Credit Analysis & Research Ltd.).
  • 2021: Ranked 359 in 'India's Top 500 Companies' by Dun and Bradstreet.
  • 2021: Awarded Certificate of Design Excellence by the Artisan Design Jewellery Awards 2021 as winner under Victorian Jewellery Category.
  • 2022: 'A2+' rating for short-term and 'A- ; Stable' rating for long-term bank facilities by CARE (Credit Analysis & Research Ltd.)

Milestones

  • 1991: Initiated its global distribution network.
  • 1995: Registered as Public Limited Company.
  • 1996: Initial public issue of Rs. 20 crores and listed on Bombay Stock Exchange.
  • 1996: Wholly-owned subsidiary in New York - Asian Star Co. Ltd.
  • 1998: ISO 9002 CERTIFICATE from RWTUV, GERMANY for quality system.
  • 2000: Initiated jewellery manufacturing operations for international market.
  • 2001: ISO 9001: 2000 CERTIFICATE from RWTUV, GERMANY.
  • 2001: Another wholly-owned subsidiary in Los Angeles - 'InterGem'.
  • 2004: Acquired equity stake in domestic brand 'Carbon'.
  • 2004: Expansion of its jewellery operations.
  • 2004: A'Star Jewellery set-up - Begun manufacturing operations for the domestic market.
  • 2004: A'Star Jewellery branches in Hyderabad and Bangalore.
  • 2005: A'Star Jewellery branch in Chennai.
  • 2005: Flagship stores in Bangalore and Delhi for brand ‘Carbon.’
  • 2006: Flagship stores in Mumbai, Hyderabad and Ghaziabad for brand ‘Carbon.’
  • 2007: A'Star Jewellery branches in Delhi, Chandigarh and Ahmedabad.
  • 2007: Enhanced set-up in Surat, measuring 65,000 sq. ft. for diamond processing.
  • 2008: Launched retail venture `Shagun Jewels`; opened the first store in Hyderabad.
  • 2008: Acquired additional premises at SEEPZ for international jewellery operations.
  • 2008: Wholly-owned subsidiary in Dubai - Inter Gems DMCC.
  • 2010: ISO 9001: 2008 CERTIFICATE from TUV NORD, Germany.
  • 2010: Expansion of the production capacity of domestic jewellery division by 50%.
  • 2010: Asian Star Jewels Pvt. Ltd., a wholly-owned jewellery subsidiary for international market, began its manufacturing operations.
  • 2010: New jewellery manufacturing unit at Hosur, Tamil Nadu.
  • 2011: Wholly-owned subsidiary in Hong Kong - Asian Star Trading (Hong Kong) Ltd.
  • 2011: A'Star Jewellery opened a Couture Diamond Boutique ex-factory at Mumbai.
  • 2012: Registered as a commercial member of the Responsible Jewellery Council (RJC).
  • 2013: Asian Star Co. Ltd.- Certified Member of the Responsible Jewellery Council (RJC).
  • 2013: Expansion of set-up in Surat to 100,000 sq. ft. area for diamond processing.
  • 2015: One amongst few to receive Strategic Supply from De Beers.
  • 2015: Long-term rough supply contracts with Alrosa, Dominion Diamond and Rio Tinto.
  • 2016: Approved Manufacturer of CanadaMark and Australian Diamonds.
  • 2017: Approved Manufacturer of Forevermark.
  • 2017: ISO 9001: 2015 CERTIFICATE from TUV NORD, Germany.
  • 2021: Approved Programme Participant of De Beers Code of Origin.
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