Strong Momentum Drives New High
On 15 Dec 2025, Khazanchi Jewellers recorded its highest price in the last 52 weeks, touching Rs.757. This peak represents an all-time high for the company’s stock, which has been steadily advancing over the past several sessions. The stock has delivered a cumulative return of 1.65% over the last four trading days, outperforming its sector by 0.9% on the day of the new high.
The trading range during this period remained relatively narrow, confined to Rs.7, indicating a focused and steady upward movement rather than volatile swings. This price action is supported by the stock trading above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, signalling sustained positive momentum across short and long-term technical indicators.
Market Context and Sector Performance
The broader market environment on the day of Khazanchi Jewellers’ new high saw the Sensex open lower at 84,891.75, down by 375.91 points or 0.44%. Despite this, the Sensex was trading at 85,046.32, just 1.31% shy of its own 52-week high of 86,159.02. The index’s position above its 50-day moving average, which itself is above the 200-day moving average, reflects a generally bullish market trend.
Within this context, small-cap stocks led the market, with the BSE Small Cap index gaining 0.15% on the day. Khazanchi Jewellers, as a small-cap player in the Gems, Jewellery and Watches sector, has outpaced both its sector and the broader market indices over the past year.
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Financial Performance Underpinning the Rally
Khazanchi Jewellers’ financial metrics provide insight into the factors supporting its stock performance. Over the past year, the company’s net sales have grown at an annual rate of 90.30%, while operating profit has expanded at 105.40%. This robust growth in core business operations has been accompanied by a net profit increase of 55.45%, reflecting strong earnings momentum.
Recent quarterly results further highlight this trend. Profit before tax excluding other income (PBT less OI) for the latest quarter stood at Rs.31.20 crore, representing growth of 83.8% compared to the previous four-quarter average. Similarly, profit after tax (PAT) for the quarter was Rs.23.55 crore, up 85.3% relative to the same benchmark. Operating profit before depreciation and interest (PBDIT) reached a quarterly high of Rs.32.31 crore.
Market Returns and Valuation Metrics
Over the last 12 months, Khazanchi Jewellers has generated a return of 16.45%, significantly outpacing the Sensex’s 3.55% return and the broader BSE500 index’s 1.04%. This market-beating performance reflects the company’s ability to deliver growth in a competitive sector.
From a valuation perspective, the company’s return on capital employed (ROCE) stands at 20%, while the enterprise value to capital employed ratio is 6. The debt servicing capacity is supported by a low debt to EBITDA ratio of 1.14 times, indicating manageable leverage relative to earnings.
Stock Price Range and Historical Context
The stock’s 52-week low price was Rs.525.30, highlighting the extent of the rally to the current high of Rs.757. This range underscores the significant appreciation in the stock price over the past year, driven by both operational growth and market dynamics.
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Investor Composition and Market Position
Despite the company’s size and performance, domestic mutual funds currently hold no stake in Khazanchi Jewellers. This absence may reflect a cautious stance or valuation considerations by institutional investors who typically conduct detailed on-the-ground research. The company’s PEG ratio stands at 0.7, indicating the relationship between its price-to-earnings ratio and earnings growth rate.
Khazanchi Jewellers operates within the Gems, Jewellery and Watches sector, a segment that has shown resilience and growth potential. The company’s ability to maintain positive results for two consecutive quarters and deliver strong profit growth has contributed to its rising stock price and new 52-week high.
Summary of Key Metrics
To summarise, Khazanchi Jewellers’ recent stock performance is supported by:
- New 52-week and all-time high price of Rs.757
- Outperformance of sector by 0.9% on the day of the new high
- Consistent gains over four consecutive days with 1.65% returns
- Trading above all major moving averages (5, 20, 50, 100, 200 days)
- Strong annual growth rates in net sales (90.30%) and operating profit (105.40%)
- Robust quarterly profit growth with PBT less OI at Rs.31.20 crore and PAT at Rs.23.55 crore
- Market-beating 1-year return of 16.45% versus Sensex’s 3.55%
- Low debt to EBITDA ratio of 1.14 times and ROCE of 20%
These factors collectively illustrate the company’s solid financial footing and the market’s recognition of its performance through the recent stock price milestone.
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