Stock Performance Overview
On 11 Dec 2025, Khazanchi Jewellers recorded a closing price of Rs.753, marking its highest level ever. The stock outperformed its sector by 1.78% on the day, registering a gain of 0.71% compared to the Sensex’s modest 0.06% rise. This marks the second consecutive day of gains, with a cumulative return of 1.46% over this period. The stock traded within a narrow range of Rs.6, indicating a stable upward momentum.
Technical indicators show the stock trading above its key moving averages, including the 5-day, 20-day, 50-day, 100-day, and 200-day averages, signalling a robust upward trend. This alignment of moving averages often reflects sustained investor confidence and positive price action.
Comparative Returns Against Benchmarks
Khazanchi Jewellers’ performance over various time frames highlights its market strength. Over the past week, the stock gained 1.72%, contrasting with the Sensex’s decline of 0.97%. The one-month return stands at 8.96%, well ahead of the Sensex’s 0.68%. Over three months, the stock surged by 27.41%, significantly outpacing the Sensex’s 3.54% rise.
Year-to-date, Khazanchi Jewellers has delivered a 20.34% return, compared to the Sensex’s 8.06%. Over the last year, the stock’s return of 17.50% notably exceeds the BSE500’s 0.14% gain. However, the stock’s three, five, and ten-year returns are recorded as 0.00%, indicating either a recent listing or data unavailability for these periods, while the Sensex posted strong gains of 35.79%, 83.17%, and 237.16% respectively over the same durations.
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Financial Growth and Profitability
Khazanchi Jewellers has demonstrated strong financial growth, with net sales expanding at an annual rate of 90.30%. Operating profit has grown at an even higher annual rate of 105.40%, reflecting effective cost management and operational efficiency. Net profit growth stands at 55.45%, underscoring the company’s ability to convert revenue growth into bottom-line gains.
The company reported outstanding quarterly results in September 2025, with Profit Before Tax excluding other income (PBT less OI) reaching Rs.31.20 crores, representing an 83.8% growth compared to the previous four-quarter average. Profit After Tax (PAT) for the quarter was Rs.23.55 crores, up 85.3% versus the prior four-quarter average. The highest quarterly Profit Before Depreciation, Interest and Tax (PBDIT) was Rs.32.31 crores, signalling strong operational cash flow generation.
Debt and Capital Efficiency
The company’s debt servicing capability is reflected in a low Debt to EBITDA ratio of 1.14 times, indicating manageable leverage relative to earnings. Return on Capital Employed (ROCE) stands at 20%, which is a solid indicator of capital efficiency. However, the enterprise value to capital employed ratio is 5.9, suggesting a relatively high valuation in relation to the company’s capital base.
Market Position and Shareholding
Despite its market capitalisation grade of 3, Khazanchi Jewellers has a limited presence in domestic mutual fund portfolios, with holdings reported at 0%. This may reflect cautious positioning by institutional investors or a focus on other sectors. The company operates within the Gems, Jewellery And Watches industry, a sector known for its cyclical nature and sensitivity to consumer demand and discretionary spending.
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Assessing Sustainability of the Current Levels
The recent price milestone of Rs.753 is supported by a combination of strong quarterly earnings, consistent sales growth, and favourable technical indicators. The stock’s outperformance relative to the Sensex and its sector over multiple time frames highlights its relative strength in the market.
However, the company’s valuation metrics suggest a premium pricing environment. The enterprise value to capital employed ratio of 5.9 and a PEG ratio of 0.6 indicate that while earnings growth has been substantial, the market is pricing in expectations of continued performance. Investors may note the absence of significant institutional holdings, which could influence liquidity and price stability.
Khazanchi Jewellers’ ability to maintain its current momentum will depend on sustaining its growth rates and profitability metrics amid sector dynamics. The company’s demonstrated capacity to generate operating profits and manage debt effectively provides a foundation for ongoing performance.
Summary
Khazanchi Jewellers’ achievement of an all-time high stock price of Rs.753 marks a noteworthy event in its market journey. Supported by strong financial results, consistent sales and profit growth, and positive technical signals, the stock has outpaced broader market indices and its sector peers. While valuation levels reflect a premium, the company’s fundamentals and capital efficiency underpin its current market standing.
As the Gems, Jewellery And Watches sector continues to evolve, Khazanchi Jewellers’ recent performance highlights its position as a significant player within the industry, with a track record of delivering robust returns over the past year and beyond.
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