Strong Market Performance and Price Movement
Khazanchi Jewellers’ stock price has approached its 52-week high, currently standing just 0.26% shy of the peak level of ₹763.95. Despite a slight dip of 0.10% on the latest trading day, the stock has outperformed the broader Sensex index, which recorded a decline of 0.19% on the same day. Over the past week, the stock has shown a modest gain of 0.79%, closely tracking the Sensex’s 0.86% rise.
More notably, the stock’s one-month performance reveals a 3.82% increase, significantly ahead of the Sensex’s 0.20% movement. Over a three-month horizon, Khazanchi Jewellers has demonstrated a robust 25.36% gain, far surpassing the Sensex’s 4.02% advance. The one-year return of 21.50% further highlights the company’s ability to generate market-beating returns, compared to the Sensex’s 8.74% over the same period.
Year-to-date figures also reflect a similar trend, with the stock appreciating by 21.91%, more than double the Sensex’s 9.30% rise. The stock’s trading levels remain above all key moving averages, including the 5-day, 20-day, 50-day, 100-day and 200-day averages, signalling sustained upward momentum despite a recent pause after nine consecutive days of gains.
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Financial Growth and Profitability Metrics
The company’s financial results have demonstrated a strong upward trajectory. Net sales have expanded at an annual rate of 90.30%, while operating profit has grown at an even higher annual rate of 105.40%. This growth in core business operations has translated into a net profit increase of 55.45%, as reported in the latest results declared in September 2025.
Khazanchi Jewellers has posted positive results for two consecutive quarters, with the Profit Before Tax excluding other income (PBT less OI) for the most recent quarter reaching ₹31.20 crores, reflecting an 83.8% growth compared to the previous four-quarter average. The Profit After Tax (PAT) for the quarter stood at ₹23.55 crores, marking an 85.3% rise over the same comparative period. Additionally, the Profit Before Depreciation, Interest and Tax (PBDIT) for the quarter was recorded at ₹32.31 crores, the highest level achieved to date.
Debt and Capital Efficiency
Khazanchi Jewellers maintains a low Debt to EBITDA ratio of 1.14 times, indicating a strong capacity to service its debt obligations. The company’s Return on Capital Employed (ROCE) stands at 20%, reflecting efficient utilisation of capital in generating earnings. However, the enterprise value to capital employed ratio is 6.1, suggesting a relatively high valuation in relation to the company’s capital base.
Market Position and Shareholding Insights
Despite the company’s size and performance, domestic mutual funds currently hold no stake in Khazanchi Jewellers. This absence of mutual fund ownership may reflect a cautious stance regarding valuation or business fundamentals at prevailing price levels. The stock’s price-to-earnings-to-growth (PEG) ratio is 0.7, which provides a perspective on valuation relative to earnings growth.
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Sector Context and Comparative Performance
Operating within the gems, jewellery and watches sector, Khazanchi Jewellers’ stock performance has outpaced sector averages on multiple timeframes. The company’s ability to sustain growth in net sales and profitability amidst sector dynamics highlights its competitive positioning. The stock’s resilience is further demonstrated by its trading above all major moving averages, signalling continued investor confidence in the company’s fundamentals.
Recent Trading Trends and Market Sentiment
After a sustained run of nine consecutive days of gains, the stock experienced a minor pullback, which is not uncommon following a period of strong upward momentum. The day’s performance showed a slight underperformance relative to the sector by 0.31%, yet the stock’s overall trend remains positive. This consolidation phase may reflect normal market behaviour as investors digest recent gains.
Summary of Key Financial Indicators
Khazanchi Jewellers’ financial indicators present a picture of robust growth and operational strength. The company’s net sales and operating profit growth rates exceed 90% annually, while net profit growth surpasses 55%. Quarterly profit metrics have also shown significant expansion, with PBT less other income and PAT increasing by over 80% compared to prior averages. The company’s debt servicing capability remains strong, supported by a low Debt to EBITDA ratio.
Conclusion
The achievement of an all-time high stock price for Khazanchi Jewellers marks a significant milestone in the company’s journey. Supported by strong financial performance, market-beating returns, and solid capital management, the stock’s recent levels reflect the company’s sustained growth within the gems, jewellery and watches sector. While valuation metrics indicate a premium, the company’s operational results and market positioning provide a comprehensive context for this milestone.
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