Steady Climb to the Peak
The stock has demonstrated consistent gains, rising for nine consecutive days and delivering a cumulative return of 2.73% during this period. Trading within a narrow range of Rs.3.95 on the day it reached its peak, Khazanchi Jewellers maintained stability while advancing beyond its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages. This technical positioning underscores the stock’s robust trend across multiple timeframes.
Performance Relative to Market Benchmarks
Examining Khazanchi Jewellers’ performance against broader market indices reveals a strong relative showing. Over the past day, the stock recorded a gain of 0.24%, compared with the Sensex’s 0.60%. Over one week, the stock’s return of 0.99% outpaced the Sensex’s 0.26%. The one-month return of 3.91% also exceeded the Sensex’s 0.24%. Most notably, the three-month return stood at 29.33%, significantly higher than the Sensex’s 3.99% over the same period.
On a longer horizon, Khazanchi Jewellers posted a 21.58% return over the past year, more than double the Sensex’s 9.48%. Year-to-date, the stock’s 22.01% gain similarly outstripped the Sensex’s 9.34%. These figures highlight the company’s capacity to deliver market-beating returns consistently over multiple timeframes.
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Financial Growth and Profitability Metrics
Khazanchi Jewellers’ financial data reveals a strong growth trajectory. Net sales have expanded at an annual rate of 90.30%, while operating profit has grown at 105.40% annually. Net profit growth stands at 55.45%, reflecting the company’s ability to convert sales growth into bottom-line gains effectively.
The company reported outstanding quarterly results in September 2025, with Profit Before Tax excluding other income (PBT less OI) at Rs.31.20 crores, representing an 83.8% increase compared to the previous four-quarter average. Profit After Tax (PAT) for the quarter was Rs.23.55 crores, up 85.3% relative to the prior four-quarter average. Additionally, Profit Before Depreciation, Interest, and Taxes (PBDIT) reached a quarterly high of Rs.32.31 crores.
Debt Servicing and Capital Efficiency
The company’s debt servicing capacity is reflected in a Debt to EBITDA ratio of 1.14 times, indicating a manageable level of leverage relative to earnings. Return on Capital Employed (ROCE) stands at 20%, signalling efficient use of capital in generating profits. However, the enterprise value to capital employed ratio is 6, suggesting a relatively high valuation compared to capital base.
Market Capitalisation and Trading Dynamics
Khazanchi Jewellers holds a market capitalisation grade of 3, positioning it within the small-cap segment of the Gems, Jewellery And Watches sector. Despite the company’s size and performance, domestic mutual funds currently hold no stake in the stock. This absence may reflect a cautious stance or valuation considerations among institutional investors.
Long-Term Performance Context
While the stock has delivered strong returns over the past year and shorter periods, its three-year, five-year, and ten-year returns are recorded as zero in the available data. This suggests that the company’s recent growth phase is relatively recent or that historical data is not fully captured. In contrast, the Sensex has shown substantial gains over these longer periods, with returns of 40.46% over three years, 85.71% over five years, and 233.87% over ten years.
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Sector and Industry Positioning
Operating within the Gems, Jewellery And Watches sector, Khazanchi Jewellers’ recent performance aligns with sector trends, as its day-to-day price movement remains in line with sector averages. The company’s ability to maintain upward momentum while trading within a narrow price range reflects a degree of price stability amid sector fluctuations.
Summary of Key Metrics
To summarise, Khazanchi Jewellers’ stock has reached Rs.763.95, its highest level ever recorded. The stock’s upward trajectory over the last nine days, combined with strong quarterly financials and solid debt servicing metrics, underpin this milestone. The company’s growth in net sales, operating profit, and net profit over recent periods highlights a phase of healthy expansion.
While valuation metrics such as enterprise value to capital employed suggest a premium, the company’s return on capital employed and manageable leverage provide a balanced view of its financial health. The absence of domestic mutual fund holdings may indicate a divergence in market perception, but the stock’s performance relative to the Sensex and sector benchmarks remains noteworthy.
Khazanchi Jewellers’ achievement of an all-time high price is a testament to its recent operational and financial progress within the Gems, Jewellery And Watches industry.
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