Thangamayil Jewellery Ltd - Stock Valuation and Financial Performance

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

Thangamayil Jeweller Share Price

1,293.05 37.85 3.02%
as on 28-Mar'24 16:01

DeciZen - make an informed investing decision on Thangamayil Jeweller

Overall Rating
Bole Toh

1. Quality

2. Valuation

Overvalued

3. Price Trend

Semi Strong

Thangamayil Jewellery stock performance -

mw4me loader
P/E Ratio (SA):
28.06
Market Cap:
3,535.8 Cr.
52-wk low:
487.8
52-wk high:
1,545

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 Semi Strong which suggest that the price of Thangamayil Jewellery Ltd is likely to Rise-somewhat 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'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23TTM
ROCE % 3%-0.5%9.4%10.9%11.6%12.4%18.3%19.1%10.6%14.4%-
Value Creation
Index
-0.8-1.0-0.3-0.2-0.2-0.10.30.4-0.20.0-

Growth Parameters

Growth Parameters Colour Code Guide

Sales 1,1911,4211,2721,2941,3771,4431,6921,8192,1933,1533,615
Sales YoY Gr.-19.3%-10.5%1.7%6.5%4.8%17.2%7.5%20.6%43.8%-
Adj EPS -4.6-8.13.85.18.31121.53018.133.745.9
YoY Gr.-NANA32.6%63.9%32.3%94.5%40%-39.6%85.7%-
BVPS (₹) 5646.950.154.461.570.480.2108.6118.2141.7173.3
Adj Net
Profit
-12.6-22.310.51422.930.358.982.449.792.4126
Cash Flow from Ops. 49.582.272.869.3-52.884.7-39.255.2-79.110.4-
Debt/CF from Ops. 4.72.21.91.5-3.81.8-6.15-4.950.9-

CAGR

CAGR Colour Code Guide

9 Years 5 Years 3 Years 1 Years
Sales 11.4%18%23.1%43.8%
Adj EPS NA32.2%16.2%85.7%
BVPS10.9%18.2%20.9%19.9%
Share Price 33.9% 50.1% 62.9% 158%

Key Financial Parameters

Performance Ratio Colour Code Guide

Mar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23TTM
Return on
Equity %
-7.8-15.87.99.714.416.728.531.81625.929.2
Op. Profit
Mgn %
1.20.23.43.74.34.96.97.84.75.46.3
Net Profit
Mgn %
-1.1-1.60.81.11.72.13.54.52.32.93.5
Debt to
Equity
1.51.410.71.20.81.10.91.21.4-
Working Cap
Days
13187889011113012212812310760
Cash Conv.
Cycle
101766964861071031171159922

Recent Performance Summary

Return on Equity has increased versus last 3 years average to 29.20%

Sales growth is growing at healthy rate in last 3 years 23.05%

Net Profit is growing at healthy rate in last 3 years 16.22%

Sales growth is good in last 4 quarters at 21.21%

Debt to equity has increased versus last 3 years average to 1.37

Latest Financials - Thangamayil Jewellery Ltd.

Standalone Consolidated
TTM EPS (₹) 45.9 -
TTM Sales (₹ Cr.) 3,615 -
BVPS (₹.) 173.3 -
Reserves (₹ Cr.) 448 -
P/BV 7.44 -
PE 28.06 -
From the Market
52 Week Low / High (₹) 487.80 / 1544.95
All Time Low / High (₹) 31.00 / 1544.95
Market Cap (₹ Cr.) 3,536
Equity (₹ Cr.) 27.4
Face Value (₹) 10
Industry PE 86.1

Management X-Ray of Thangamayil Jeweller:

Shareholding Pattern

Promoter's Holding & Share Pledging

Pledged *14.0114.7814.7814.7810.174.6510.588.798.798.77
* 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'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23
Sales1,1911,4211,2721,2941,3771,4431,6921,8192,1933,153
Operating Expenses 1,1771,4181,2281,2451,3181,3731,5941,6782,1073,000
Manufacturing Costs15141110171922242649
Material Costs1,1051,3601,1761,1851,2401,2901,4811,5931,9752,816
Employee Cost 16202224303340324356
Other Costs 39242025313150306278
Operating Profit 153434859719814186153
Operating Profit Margin (%) 1.2%0.2%3.4%3.7%4.3%4.9%5.8%7.8%3.9%4.9%
Other Income 5231233823
Interest 35292421192021232635
Depreciation 6889881091013
Exceptional Items 0000000000
Profit Before Tax -21-33141934466911752108
Tax -8-1145111524301328
Profit After Tax -13-221114233046873980
PAT Margin (%) -1.1%-1.6%0.8%1.1%1.7%2.1%2.7%4.8%1.8%2.5%
Adjusted EPS (₹)-4.6-8.13.85.18.311.016.631.614.129.1
Dividend Payout Ratio (%)-11%-6%13%20%21%23%15%16%36%21%

Balance Sheet

(All Figures are in Crores.)
PARTICULARSMar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23

Equity and Liabilities

Shareholders Fund 154129138149169193220298324389
Share Capital 14141414141414141414
Reserves 140115124136155179206284311375
Minority Interest0000000000
Debt23117012894190154236269360508
Long Term Debt1950583631385562106134
Short Term Debt2131207059160116181207254373
Trade Payables634458858753713720
Others Liabilities 826579100193231222195212328
Total Liabilities 4733983894316116527157749041,244

Fixed Assets

Gross Block97100111115124127144148160210
Accumulated Depreciation16253342505663697688
Net Fixed Assets827478727471817984122
CWIP 7811112272
Investments 0000000000
Inventories342289281312476504564649750982
Trade Receivables0001120333
Cash Equivalents 176920325231171776
Others Assets25211925262237244459
Total Assets 4733983894316116527157749041,244

Cash Flow

(All Figures are in Crores.)
PARTICULARSMar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23
Cash Flow From Operating Activity 49827369-5385-3955-7910
PBT -21-33141934466911752108
Adjustment 41373229262529323547
Changes in Working Capital 32782727-10623-120-66-148-117
Tax Paid -200-6-7-9-17-27-17-27
Cash Flow From Investing Activity -17-3-5-6-27-17818-21-86
Capex -17-3-5-4-11-5-9-6-16-31
Net Investments 000-3-17-151423-6-58
Others 0001133113
Cash Flow From Financing Activity -45-90-64-5674-6224-649478
Net Proceeds from Shares 0000000000
Net Proceeds from Borrowing 00000817-231838
Interest Paid -35-29-24-21-19-20-20-22-25-33
Dividend Paid -8-1-2-2-3-6-17-8-12-15
Others -2-59-39-3396-4444-1111388
Net Cash Flow -12-1147-65-78-72
PARTICULARSMar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23
Ratios
ROE (%)-7.82-15.797.919.7414.3816.7222.0933.4312.3922.37
ROCE (%)3.52-1.1113.0715.3217.0118.3722.4527.1112.2117.55
Asset Turnover Ratio2.233.263.243.172.652.292.472.442.612.94
PAT to CFO Conversion(x)N/AN/A6.644.93-2.32.83-0.850.63-2.030.13
Working Capital Days
Receivable Days0000000000
Inventory Days124818283104124115122116100
Payable Days2251220221914622

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 28-Mar-2024 16:01 is ₹1,293.1.
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 28-Mar-2024 16:01 the market cap of Thangamayil Jeweller stood at ₹3,535.8.
The latest P/E ratio of Thangamayil Jeweller as of 28-Mar-2024 16:01 is 28.06.
The latest P/B ratio of Thangamayil Jeweller as of 28-Mar-2024 16:01 is 7.44.
The 52-week high of Thangamayil Jeweller is ₹1,545 and the 52-week low is ₹487.8.
The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of Thangamayil Jeweller is ₹3,615 ( 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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