Manoj Vaibhav Gems N Jewellers Ltd Hits All-Time Low Amid Prolonged Downtrend

Recent Price Movement and Market Context

On 23 Feb 2026, Manoj Vaibhav Gems N Jewellers Ltd touched Rs.158.15, its lowest level ever recorded. This follows a four-day consecutive decline, during which the stock lost 6.97% in value. Despite a marginal positive day change of 0.06% today, the stock underperformed its sector by 1.53% and lagged behind the Sensex, which gained 0.39% on the same day.

The stock is trading below its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating a persistent bearish trend. Over the past week, the stock declined by 5.47%, compared to a modest 0.17% fall in the Sensex. The one-month performance shows a 4.46% loss against a 1.96% gain in the benchmark index.

Longer-term figures reveal a more pronounced underperformance. Manoj Vaibhav Gems N Jewellers Ltd has delivered a negative return of 19.90% over three months, while the Sensex declined by only 2.46%. Over the past year, the stock’s return stands at -27.89%, contrasting sharply with the Sensex’s 10.39% gain. Year-to-date, the stock has fallen 11.64%, whereas the Sensex is down 2.45%. Over three, five, and ten years, the stock has shown no appreciable gains, remaining flat at 0.00%, while the Sensex has surged by 39.47%, 67.10%, and 255.12% respectively.

Financial Performance and Valuation Metrics

Despite the stock’s price weakness, Manoj Vaibhav Gems N Jewellers Ltd reported positive financial results in the six months ending December 2025. Net sales reached Rs.1,440.62 crores, reflecting a robust growth rate of 26.39%. Operating profit to interest ratio stood at a healthy 6.62 times, the highest recorded, while profit before tax excluding other income was Rs.43.63 crores, also a peak figure for the period.

The company’s return on capital employed (ROCE) is 14.4%, which is considered very attractive. Its enterprise value to capital employed ratio is 1, indicating a valuation discount relative to its peers’ historical averages. Over the past year, profits have increased by 21.7%, even as the stock price declined by 27.89%. The price/earnings to growth (PEG) ratio is 0.3, suggesting the stock is trading at a low valuation relative to its earnings growth.

Long-Term Growth and Market Position

Over the last five years, the company’s net sales have grown at an annualised rate of 12.76%, while operating profit has increased by 15.70% annually. These growth rates, while positive, have not translated into corresponding stock price appreciation. The company’s market capitalisation grade is rated 4, reflecting its mid-tier size within the sector.

Domestic mutual funds hold no stake in Manoj Vaibhav Gems N Jewellers Ltd, a notable factor given their capacity for detailed research and selective investment. This absence of institutional backing may reflect reservations about the company’s valuation or business prospects at current price levels.

The stock’s Mojo Score stands at 46.0, with a Mojo Grade recently downgraded from Hold to Sell on 16 Feb 2026. This downgrade signals a reassessment of the company’s relative attractiveness within the Gems, Jewellery and Watches sector.

Comparative Performance and Sector Context

Manoj Vaibhav Gems N Jewellers Ltd has underperformed the BSE500 index over the last three months, one year, and three years. While the sector has experienced fluctuations, the stock’s relative weakness is evident in its sustained negative returns and failure to keep pace with broader market indices.

The stock’s discount valuation relative to peers is underscored by its enterprise value to capital employed ratio of 1, which is lower than typical sector averages. Despite this, the lack of price recovery suggests market concerns persist.

Summary of Key Metrics

To summarise, Manoj Vaibhav Gems N Jewellers Ltd’s stock has reached an unprecedented low of Rs.158.15, reflecting a sustained downtrend across multiple time horizons. The company’s financials show mixed signals, with solid sales growth and profitability metrics contrasting with subdued market performance and limited institutional interest.

The stock’s trading below all major moving averages and its recent downgrade to a Sell grade highlight the challenges it faces in regaining investor confidence. While valuation metrics suggest the stock is attractively priced relative to earnings growth and capital employed, the market’s response remains cautious.

Overall, the data portrays a company navigating a difficult phase in the market, with its stock price reflecting the cumulative impact of these factors.

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