Thangamayil Jewellery Ltd - Stock Valuation and Financial Performance

BSE: 533158 | NSE: THANGAMAYL | Diamond & Jewellery | Small Cap

Thangamayil Jeweller Share Price

2,069.95 -2.05 -0.10%
as on 04-Dec'24 13:37

DeciZen - make an informed investing decision on Thangamayil Jeweller

Overall Rating
Bole Toh

1. Quality

2. Valuation

Overvalued

3. Price Trend

Thangamayil Jewellery stock performance -

mw4me loader
P/E Ratio (SA):
59.62
Market Cap:
5,685.4 Cr.
52-wk low:
1,143.1
52-wk high:
2,639.9

Is Thangamayil Jewellery Ltd an attractive stock to invest in?

1. Is Thangamayil Jewellery Ltd a good quality company?

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

2. Is Thangamayil Jewellery Ltd undervalued or overvalued?

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

3. Is Thangamayil Jewellery Ltd a good buy now?

The Price Trend analysis by MoneyWorks4Me indicates it is Weak which suggest that the price of Thangamayil Jewellery Ltd is likely to Fall in the short term. However, please check the rating on Quality and Valuation before investing.

10 Year X-Ray of Thangamayil Jeweller:

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

Value Creation

Value Creation Index Colour Code Guide

Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24TTM
ROCE % -1.1%13.1%15.3%17%18.4%22.5%27.1%12.2%17.6%21.4%-
Value Creation
Index
-1.1-0.10.10.20.30.60.9-0.10.30.5-

Growth Parameters

Growth Parameters Colour Code Guide

Sales 1,4211,2721,2941,3771,4431,6921,8192,1933,1533,8274,274
Sales YoY Gr.--10.5%1.7%6.5%4.8%17.2%7.5%20.6%43.8%21.4%-
Adj EPS -8.13.85.18.31121.53018.133.74934.8
YoY Gr.-NA32.6%63.9%32.3%94.5%40%-39.6%85.7%45.4%-
BVPS (₹) 46.950.154.461.570.480.2108.6118.2141.7179.7188.1
Adj Net
Profit
-22.310.51422.930.358.982.449.792.413495
Cash Flow from Ops. 82.272.869.3-52.884.7-39.255.2-79.110.4330-
Debt/CF from Ops. 2.21.91.5-3.81.8-6.15-4.950.91.4-

CAGR

CAGR Colour Code Guide

9 Years 5 Years 3 Years 1 Years
Sales 11.6%21.5%28.1%21.4%
Adj EPS NA34.7%17.7%45.4%
BVPS16.1%20.6%18.3%26.9%
Share Price 36.8% 63.4% 44.8% 48.6%

Key Financial Parameters

Performance Ratio Colour Code Guide

Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24TTM
Return on
Equity %
-15.87.99.714.416.728.531.81625.930.518.9
Op. Profit
Mgn %
0.23.43.74.34.96.97.84.75.464.3
Net Profit
Mgn %
-1.60.81.11.72.13.54.52.32.93.52.2
Debt to
Equity
1.410.71.20.81.10.91.21.410.2
Working Cap
Days
87889011113012212812310710962
Cash Conv.
Cycle
766964861071031171159910219

Recent Performance Summary

Sales growth is growing at healthy rate in last 3 years 28.14%

Net Profit is growing at healthy rate in last 3 years 17.71%

Debt to equity has declined versus last 3 years average to 0.95

Sales growth is good in last 4 quarters at 23.45%

Return on Equity has declined versus last 3 years average to 18.90%

Latest Financials - Thangamayil Jewellery Ltd.

Standalone Consolidated
TTM EPS (₹) 34.8 -
TTM Sales (₹ Cr.) 4,274 -
BVPS (₹.) 188.1 -
Reserves (₹ Cr.) 489 -
P/BV 11.02 -
PE 59.62 -
From the Market
52 Week Low / High (₹) 1143.05 / 2639.90
All Time Low / High (₹) 31.00 / 2639.90
Market Cap (₹ Cr.) 5,685
Equity (₹ Cr.) 27.4
Face Value (₹) 10
Industry PE 87.2

Management X-Ray of Thangamayil Jeweller:

Shareholding Pattern

Promoter's Holding & Share Pledging

Pledged *14.7810.174.6510.588.798.798.772.382.382.62
* Pledged shares as % of Promoter's holding (%)

Event Update

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Analyst's Notes

Key Ratios of Thangamayil Jeweller

Adj EPS (Rs.)

Sales (Cr.)

ROE (%)

ROCE (%)

Profit And Loss

(All Figures are in Crores.)
PARTICULARSMar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24
Sales1,4211,2721,2941,3771,4431,6921,8192,1933,1533,827
Operating Expenses 1,4181,2281,2451,3181,3731,5941,6782,1073,0003,614
Manufacturing Costs14111017192224264967
Material Costs1,3601,1761,1851,2401,2901,4811,5931,9752,8163,404
Employee Cost 20222430334032435666
Other Costs 24202531315030627877
Operating Profit 3434859719814186153212
Operating Profit Margin (%) 0.2%3.4%3.7%4.3%4.9%5.8%7.8%3.9%4.9%5.5%
Other Income 2312338235
Interest 29242119202123263536
Depreciation 88988109101316
Exceptional Items 0000000000
Profit Before Tax -33141934466911752108165
Tax -114511152430132842
Profit After Tax -221114233046873980123
PAT Margin (%) -1.6%0.8%1.1%1.7%2.1%2.7%4.8%1.8%2.5%3.2%
Adjusted EPS (₹)-8.13.85.18.311.016.631.614.129.144.9
Dividend Payout Ratio (%)-6%13%20%21%23%15%16%36%21%22%

Balance Sheet

(All Figures are in Crores.)
PARTICULARSMar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24

Equity and Liabilities

Shareholders Fund 129138149169193220298324389493
Share Capital 14141414141414141427
Reserves 115124136155179206284311375466
Minority Interest0000000000
Debt17012894190154236269360508438
Long Term Debt50583631385562106134114
Short Term Debt1207059160116181207254373324
Trade Payables3445885875371372018
Others Liabilities 6579100193231222195212328530
Total Liabilities 3983894316116527157749041,2441,479

Fixed Assets

Gross Block100111115124127144148160206257
Accumulated Depreciation253342505663697685101
Net Fixed Assets7478727471817984120155
CWIP 8111122722
Investments 0000000000
Inventories2892813124765045646497509821,189
Trade Receivables0011203334
Cash Equivalents 692032523117177682
Others Assets21192526223724446146
Total Assets 3983894316116527157749041,2441,479

Cash Flow

(All Figures are in Crores.)
PARTICULARSMar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24
Cash Flow From Operating Activity 827369-5385-3955-7910330
PBT -33141934466911752108165
Adjustment 37322926252932354749
Changes in Working Capital 782727-10623-120-66-148-117158
Tax Paid 00-6-7-9-17-27-17-27-42
Cash Flow From Investing Activity -3-5-6-27-17818-21-86-30
Capex -3-5-4-11-5-9-6-16-31-37
Net Investments 00-3-17-151423-6-583
Others 0011331135
Cash Flow From Financing Activity -90-64-5674-6224-649478-293
Net Proceeds from Shares 0000000000
Net Proceeds from Borrowing 0000817-231838-4
Interest Paid -29-24-21-19-20-20-22-25-33-34
Dividend Paid -1-2-2-3-6-17-8-12-15-19
Others -59-39-3396-4444-1111388-235
Net Cash Flow -1147-65-78-728
PARTICULARSMar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24
Ratios
ROE (%)-15.797.919.7414.3816.7222.0933.4312.3922.3727.95
ROCE (%)-1.1113.0715.3217.0118.3722.4527.1112.2117.5521.42
Asset Turnover Ratio3.263.243.172.652.292.472.442.612.942.81
PAT to CFO Conversion(x)N/A6.644.93-2.32.83-0.850.63-2.030.132.68
Working Capital Days
Receivable Days0000000000
Inventory Days818283104124115122116100104
Payable Days512202219146222

Thangamayil Jewellery Ltd Stock News

Thangamayil Jewellery Ltd FAQs

Company share prices are keep on changing according to the market conditions. The closing price of Thangamayil Jeweller on 04-Dec-2024 13:37 is ₹2,070.
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 04-Dec-2024 13:37 the market cap of Thangamayil Jeweller stood at ₹5,685.4.
The latest P/E ratio of Thangamayil Jeweller as of 04-Dec-2024 13:37 is 59.62.
The latest P/B ratio of Thangamayil Jeweller as of 04-Dec-2024 13:37 is 11.02.
The 52-week high of Thangamayil Jeweller is ₹2,639.9 and the 52-week low is ₹1,143.1.
The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of Thangamayil Jeweller is ₹4,274 ( Cr.) .

About Thangamayil Jewellery Ltd

The company was incorporated as a private limited Company on March 24, 2000 under the Companies Act, 1956 as Thangamayil Jewellery Private Limited vide Certificate of Incorporation issued by the Registrar of Companies, Tamil Nadu, Chennai. The name of the Company was changed to Thangamayil Jewellery Limited upon conversion into Public Limited Company with effect from November 20, 2007 and a fresh certificate of incorporation was obtained from Registrar of Companies, Tamil Nadu, Chennai.

The Company is one of the leading jewellery retailers in Madurai. Prior to the formation of Thangamayil Jewellery Private Limited in the year 2000 the business was carried on by the promoters of the company in the name of Balu Jewellery (Partnership concern). Since 1984 the company is in the business of manufacturing and trading of jewellery.

The company was formed with an objective to carry on the business of jewellers, goldsmiths, silversmiths and dealers in precious metals, articles of vertu, coin, precious and semi precious metals, metals, bullions, diamonds, precious and semiprecious stones, gems, gemstones and manufacturers, dealers, importers and exporters and traders of all types of Jewellery, Jewellery products, articles of vertu, coins, watches, cutlery, curios, ornaments, utensils, made out of platinum, gold, silver or any combinations thereof, or any contribution of any of them with any other metal or alloy; to carry on the business of importers and exporters and dealers and traders in diamonds, precious and semi precious stones, gems and gem stone.

The Company trades in Gold Jewellery, Diamond and Platinum jewels. The ornaments are also made to order as per specific requirements by the customer and the same are manufactured at the company’s unit near Madurai. Further gold Jewels are bought readymade from various dealers in the states of Andhra Pradesh, Gujarat, Kerala and West Bengal, according to the designs, models and current fashions and demand in the market for sale at the counters.

Thangamayil introduced the Hallmarking practice for the first time in Madurai and also conducted an awareness campaign introducing this concept to the customers in the market serviced by the Company. The Company has its showroom at Netaji Road, Madurai. This showroom was set up in the year 2001. The showroom is housed in a three storied set up in total area of 11,416 sq. ft.

The Company has a policy of price assurance with respect to returns of the product subject only to changes in underlying metal prices. Again, the Company has very transparent practices when it comes to exchange of jewellery. Customers often bring in jewels purchased from other retailers for exchange and remaking into new jewellery. The Company has acquired sophisticated machinery to measure the quality and carat value of the gold brought in. The measurements are scientific and tamper proof, thereby giving the customer an assurance on the exchange value that they receive in return for their jewellery. These initiatives have gone to build a sound reputation for the Company in the minds of the customers.

In case of diamonds, items like ear stud, nose ring, diamond necklace etc., are made to order and or bought readymade from the respective dealers as per the designs and demand of the customers. The stones are verified for its “Dosham” before the sale to the customers as a tradition prevails in south India for diamond articles for purity and blemishes of the stone. Platinum jewels are also sold according to the customers’ specification and requirements. The gold jewels are tested for its purity and hallmarked at 916* for a guaranteed quality and purity of its contents by the Company.

During the financial year 2008-09 the Company in its efforts to have retail presence all over Tamilnadu, opened three retail outlets at Rajapalayam, Ramanathpuram and Karaikudi. The areas of the showrooms are 1200 sq. ft., 6700 sq. ft. and 2500 sq. ft. respectively. TMJL has recently opened a new showroom at Dindigul and is taking steps to open a showroom at Trichy

Products manufactured by the company include:

  • Gold jewellary
  • Diamond Jewellary
  • Silvar jewellary
  • Platinum Jewellery
  • Gem Stones
  • Gift items
  • The company also offers Chit scheme and fixed deposits

Milestones:

  • 2000, March - Incorporated as Thangamayil Jewellery Private Limited
  • 2001, May- Purchase of Gold Assaying Machine to ensure quality of gold ornament through laser technology
  • 2001, June-Opening of exclusive Showroom for Diamond and other precious stones at Madurai (entire showroom 15000 sq.ft)
  • 2001, August- Obtained BIS hallmarking license – pioneers in the field
  • 2003, May-With the help of World gold council, initiated the concept of “Akshya Thritiyai” and helped in a breakthrough in gold jewellery market.
  • 2006, January-Registration of “Thangamayil” as a trademark
  • 2008, April-Opened showroom at Rajapalayam (entire showroom 1500 sq.ft)
  • 2008, September-Opened showroom at Karaikudi (entire showroom 2250 sq.ft) 
  • 2009, March-Opened showroom at Ramanathpuram (entire showroom 3000 sq.ft)
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