Lalithaa Jewellery Mart Limited
NSE: LALITHAAGems, Jewellery And WatchesShort-term ASM stage 1
Share price
₹376.45
-4.66% close of 8 Oct 2026
Price-based ratios (P/B, dividend yield, EV/EBITDA) are as of 5 Oct 2026, the close above is 8 Oct 2026.
Business score
How strong the business is, in one number. The parts behind it are in Pro.
55
out of 100 · worked out 8 Oct 2026
Your ratios
The numbers you want to see first. Tap Edit to change them.
Market cap
₹21,062 Cr
P/E ratio
20.8
P/B ratio
—
ROCE
38.6%
ROE
41.7%
Dividend yield
0.0%
Price & valuation chart
How the share price and its valuation have moved. Hover over the chart to see any day. Prices as of the last close.
Answers
Simple answers to the questions investors ask most, from the company's own numbers.
How fast it has been growing
Fewer than three years of filings — too early to judge growth.
Whether it grew faster than its sector
We do not have three full years of its sales yet, so there is nothing to compare with its sector.
Room to re-rate, or risk of de-rating
Too little price history yet to compare it with its own past.
Whether growth justifies the valuation
It has no steady three-year profit record yet, so growth cannot be weighed against the price.
| Profit growth | Price per ₹1 profit | Per 1% growth | |
|---|---|---|---|
| Lalithaa Jewellery Mart Limited — this one | — | 20.8× | — |
| Titan Company | 17%/yr | 66.5× | ₹3.9 |
| Kalyan Jewellers India Limited | 45%/yr | 39.0× | ₹0.87 |
| Thangamayil Jewellery Limited | 64%/yr | 38.0× | ₹0.59 |
| SKY GOLD AND DIAMONDS LIMITED | 144%/yr | 41.0× | — |
| PC Jeweller Limited | 77%/yr | 17.6× | ₹0.23 |
Compared with companies filed under the same label. That grouping comes from the exchange's filing category, so some of them may not be real rivals.
How it compares with its peers
Against companies the exchange files under the same label (Gems, Jewellery And Watches), it ranks 5 of 38 on returns, 32 of 40 on margin. That grouping comes from the exchange's filing category, so some of them may not be real rivals.
What makes it hard to beat — and is that still true?
A wide advantage: it earns 38.6% on capital, ahead of 87% of companies filed under the same label. That grouping comes from the exchange's filing category, so some of them may not be real rivals.
Whether its growth pays for itself
No — Over the 3 years of cash statements on file the business itself consumed ₹127 crore of cash before any plant spend, funded mostly borrowed — borrowings rose from ₹1255 crore to ₹2045 crore.
Profit reality check
Is the profit real cash? Simple checks on the accounts. Facts only, not advice.
6 of 7 checks clear · 86%
Latest result · Q1 FY27
What the last results showed. Whether management kept its word is in Pro.
Announced 11 Sep 2026 · Consolidated · Unaudited
Revenue
₹6,031 Cr
Net profit
₹208 Cr
Net margin
3.5%
EPS
₹4.16
Checklist before you investPRO
Points for and against, in one list.
Key numbers & peers
The main numbers grouped by topic, and how the company compares with similar ones.
Price
- Market cap
- ₹21,062 Cr
- Prev close
- ₹376.45
- 52w High
- ₹414
- 52w Low
- ₹240
- Enterprise value
- ₹23,069 Cr
- Beta
- —
- Price CAGR 1y
- —
- Price CAGR 3y
- —
- Price CAGR 5y
- —
- Price CAGR 10y
- —
Ratios
- Return on assets
- 9.2%
- PEG ratio
- —
- P/E ratio
- 20.8
- P/B ratio
- —
- EV / EBITDA
- 13.5
- Industry P/E
- 21.3
- ROCE
- 38.6%
- ROCE 5y average
- 31.0%
- ROE
- 41.7%
- Debt / Equity
- 0.7
- Interest coverage
- 6.7
- Dividend yield
- 0.0%
- ROE 3y average
- 30.0%
- ROE last year
- 42.0%
Annual P&L
- Annual revenue
- ₹25,024 Cr
- Annual profit
- ₹1,010 Cr
- Operating margin
- 7.0%
- Net profit margin
- 4.0%
- EBITDA margin
- 6.9%
- Sales growth 3y
- —
- Sales growth 5y
- —
- Profit growth 3y
- —
- Profit growth 5y
- —
- EPS
- ₹20.2
- Sales growth TTM
- 48.0%
- Profit growth TTM
- 177.0%
- Dividend payout
- 0.0%
Quarter P&L
- Sales latest quarter
- ₹6,031 Cr
- Profit latest quarter
- ₹208 Cr
- YoY quarterly sales growth
- 26.0%
- YoY quarterly profit growth
- -21.8%
- OPM latest quarter
- 6.0%
Balance Sheet
- Book Value
- ₹52.4
- Face Value
- ₹5.0
- Total debt
- ₹2,045 Cr
- Total cash
- ₹38 Cr
- Borrowings
- ₹2,045 Cr
- Reserves / Equity
- 10.7
Cash Flow
- Operating cash flow
- -₹398 Cr
- Free cash flow
- -₹465 Cr
- FCF yield
- -3.3%
- Net cash flow
- -₹36 Cr
Shareholding
- Promoter holding
- 82.8%
- FII holding
- 2.6%
- DII holding
- 4.9%
- Public holding
- 9.6%
Peer comparison
| Company | Price ₹ | P/E | Mkt cap ₹ Cr | Div yield % | Profit qtr ₹ Cr | Profit var % | Sales qtr ₹ Cr | Sales var % | ROCE % |
|---|---|---|---|---|---|---|---|---|---|
| Titan Company | 4,515.70 | 68.7 | 4,00,898 | 0.33 | 1,777.0 | 62.9 | 21,356.0 | 29.3 | 20.5 |
| Kalyan Jewellers | 528.50 | 37.3 | 54,581 | 0.47 | 348.7 | 32.0 | 10,588.9 | 45.7 | 21.1 |
| Lalithaa Jewel | 387.85 | 22.7 | 21,708 | 0.00 | 208.2 | -21.6 | 6,031.2 | 26.0 | 38.6 |
| Thangamayil Jew. | 4,861.00 | 38.5 | 15,109 | 0.37 | 85.1 | 86.2 | 2,666.4 | 71.2 | 25.5 |
| PC Jeweller | 12.82 | 16.2 | 12,574 | 0.00 | 221.9 | 37.0 | 877.0 | 21.0 | 9.6 |
| Sky Gold & Diam. | 810.65 | 37.5 | 12,555 | 0.00 | 104.9 | 136.9 | 2,012.8 | 77.9 | 27.0 |
| Bluestone Jewel | 787.95 | 213.8 | 12,038 | 0.00 | 6.0 | 120.2 | 736.9 | 49.6 | 6.8 |
| P N Gadgil Jewe. | 581.95 | 19.1 | 8,566 | 0.00 | 105.3 | 51.9 | 2,413.0 | 40.7 | 21.0 |
| Median | 221.31 | 19.5 | 1,293 | 0.00 | 22.9 | 49.8 | 431.1 | 39.0 | 21.6 |
Competes with: AURUS GEM CORPORATION LIMITED, Advit Jewels Limited, Asian Star Company Limited, Ausom Enterprise Limited, Banaras Beads Limited, BlueStone Jewellery and Lifestyle Limited, D. P. Abhushan Limited, Deepa Jewellers Limited, Ethos Limited, Goldiam International Limited, Horizon Industrial Parks Limited, KD Green Industries Limited, KDDL Limited, Kalyan Jewellers India Limited, Kanani Industries Limited, Laxmi Goldorna House Limited, Manbro Industries Limited, Manoj Vaibhav Gems N Jewellers Limited, Moksh Ornaments Limited, Motisons Jewellers Limited, P N Gadgil Jewellers Limited, PC Jeweller Limited, PNGS Reva Diamond Jewellery Limited, Priority Jewels Limited, RBZ Jewellers Limited, Radhika Jeweltech Limited, Renaissance Global Limited, SKY GOLD AND DIAMONDS LIMITED, Senco Gold Limited, Shankesh Jewellers Limited, Shanti Gold International Limited, Shringar House of Mangalsutra Limited, Silgo Retail Limited, Swarnsarita Jewels India Limited, Thangamayil Jewellery Limited, Timex Group India Limited, Titan Company, Tribhovandas Bhimji Zaveri Limited, Uday Jewellery Industries Limited, Vaibhav Global Limited
Quarterly results
Sales and profit for each of the last 13 quarters. Newest on the right. ₹ crore.
| Line item | Jun 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|
| Sales | 4,786 | 6,500 | 6,031 |
| Expenses | 4,352 | 5,955 | 5,658 |
| Material Cost | 4,651 | ||
| Change in Inventories | -590 | ||
| Purchases of Stock-in-Trade | 1,417 | ||
| Employee Cost | 79 | ||
| Other Expenses | 102 | ||
| Operating Profit | 435 | 544 | 373 |
| OPM % | 9 | 8 | 6 |
| Other Income | 8 | 2 | 4 |
| Exceptional items (within Other Income) | 0 | ||
| Interest | 50 | 49 | 62 |
| Depreciation | 34 | 33 | 30 |
| Profit before tax | 359 | 464 | 284 |
| Tax % | 26 | 26 | 27 |
| Net Profit | 266 | 346 | 208 |
| EPS in Rs | 5.31 | 6.91 | 4.16 |
| Diluted EPS in Rs | 4.16 |
Profit & loss
Yearly sales, costs and profit for 12 years, plus the last 12 months (TTM). ₹ crore.
| Line item | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|
| Sales | 16,788 | 16,897 | 25,024 |
| Expenses | 16,083 | 16,131 | 23,309 |
| Operating Profit | 705 | 766 | 1,715 |
| OPM % | 4.20 | 4.50 | 7 |
| Other Income | 13 | 11 | 13 |
| Interest | 161 | 186 | 237 |
| Depreciation | 72 | 87 | 131 |
| Profit before tax | 485 | 503 | 1,360 |
| Tax % | 26 | 28 | 26 |
| Net Profit | 360 | 365 | 1,010 |
| EPS in Rs | 151 | 7.29 | 20 |
| Dividend Payout % | 0 | 0 | 0 |
Compounded growth
Average yearly growth over different spans, as stored. A span can cross a demerger or an acquisition.
Compounded sales growth
- 10 years
- —
- 5 years
- —
- 3 years
- —
- TTM
- 48%
Compounded profit growth
- 10 years
- —
- 5 years
- —
- 3 years
- —
- TTM
- 177%
Return on equity
- 10 years
- —
- 5 years
- —
- 3 years
- 30%
- Last year
- 42%
Balance sheet
What the company owns and what it owes, at the end of each year. ₹ crore.
| Line item | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|
| Equity Capital | 12 | 250 | 250 |
| Reserves | 1,552 | 1,675 | 2,680 |
| Borrowings | 1,255 | 1,383 | 2,045 |
| Other Liabilities | 2,363 | 3,621 | 5,970 |
| Total Liabilities | 5,182 | 6,930 | 10,945 |
| Fixed Assets | 562 | 645 | 634 |
| CWIP | 47 | 15 | 24 |
| Investments | 0 | 0 | 0 |
| Other Assets | 4,574 | 6,271 | 10,287 |
| Total Assets | 5,182 | 6,930 | 10,945 |
Cash flows
Real money coming in and going out each year — from the business, from investments and from loans. ₹ crore.
| Line item | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|
| Cash from Operating Activity | -18 | 289 | -398 |
| Cash from Investing Activity | -112 | -215 | -66 |
| Cash from Financing Activity | 135 | -44 | 428 |
| Net Cash Flow | 5 | 30 | -36 |
| Free Cash Flow | -106 | 168 | -465 |
Ratios
How fast customers pay, how long stock sits, and how well capital earns — year by year.
| Line item | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|
| Debtor Days | 1 | 3 | 3 |
| Inventory Days | 101 | 139 | 159 |
| Days Payable | 3 | 6 | 8 |
| Cash Conversion Cycle | 99 | 135 | 154 |
| Working Capital Days | 26 | 32 | 37 |
| ROCE % | 23 | 39 |
Price trend
The price as a Renko brick chart: small moves drop out so the bigger path stands out.
Every brick is the same size, about one typical day's move. A new brick needs a full brick's move; turning the other way needs two. Bricks show where the price went, not where it will go.
Open interestPRO
Where option traders are positioned on this stock.
Industry numbers
The numbers that matter most in this industry, from the company's own filings.
the company's own unlisted debt securities in default at period end
0.00cr
2026-06-30
the company's own loans / revolving facilities in default at period end (standalone filing)
0.00cr
2026-06-30
News
News and filings about Lalithaa Jewellery Mart Limited. Open one to see why it matters.
No recent news for this company.
Supply chain
Who it buys from, sells to and competes with — as recorded in our map of company links.
Competes with
- AURUS GEM CORPORATION LIMITED
- Advit Jewels Limited
- Asian Star Company Limited
- Ausom Enterprise Limited
- Banaras Beads Limited
- BlueStone Jewellery and Lifestyle Limited
- D. P. Abhushan Limited
- Deepa Jewellers Limited
- Ethos Limited
- Goldiam International Limited
- Horizon Industrial Parks Limited
- KD Green Industries Limited
- KDDL Limited
- Kalyan Jewellers India Limited
- Kanani Industries Limited
- Laxmi Goldorna House Limited
- Manbro Industries Limited
- Manoj Vaibhav Gems N Jewellers Limited
- Moksh Ornaments Limited
- Motisons Jewellers Limited
- P N Gadgil Jewellers Limited
- PC Jeweller Limited
- PNGS Reva Diamond Jewellery Limited
- Priority Jewels Limited
- RBZ Jewellers Limited
- Radhika Jeweltech Limited
- Renaissance Global Limited
- SKY GOLD AND DIAMONDS LIMITED
- Senco Gold Limited
- Shankesh Jewellers Limited
Depends on the price of
- Gold
Buys from
- Shanti Gold International Limited · 22kt CZ casting gold jewellery
- Shringar House of Mangalsutra Limited · gold mangalsutras
About
What the company is, from our own records: where it sits, where it makes things, and what it is made of.
- Sector
- Consumer Durables
- Industry
- Gems, Jewellery And Watches
- Classification
- Consumer Durables › Gems, Jewellery And Watches
- ISIN
- INE0K9O01026
Plants
- Maraimalai manufacturing facility (operated through Asita Jewellery Manufacturing Private Limited) · Maraimalai Nagar, Tamil Nadu
- Thirumudivakkam manufacturing facility · Chennai, Tamil Nadu
News impact
Big market events that reach Lalithaa Jewellery Mart Limited, and how the effect spreads.
28 Sept, 10:16 IST · Market event · high impact
PC Jeweller shares rise 4% as firm becomes debt-free; stock rallies 89% in 6 months
PC Jeweller cleared all bank loans early and posted strong quarterly profit, which helps its own shareholders and mildly lifts sentiment for other jewellers without hurting anyone directly.
Who it hits first
- PC Jeweller, a jewellery retailer, cleared its loans to all 14 banks ahead of schedule, so it now pays no bank interest and keeps more profit.
- The company also reported quarterly profit up 37% to Rs 222 crore on revenue up 21% to Rs 877 crore, confirming the business is improving, not just the balance sheet.
- The stock rose 4% on the news and is up 89% in six months, showing investors already expected much of this turnaround.
Who may gain
- PC Jeweller shareholders, who own a debt-free company with lower risk and higher profit.
- Other listed jewellers such as Titan, Kalyan Jewellers and Lalithaa, who get a small sentiment lift as investors re-rate jewellery demand.
- Banks in the old 14-bank group, who got repaid early and free up lending capacity.
Along the supply chain
Downstream
No direct downstream link — jewellery is sold to shoppers, not to another factory, so no customer factory gains work from this.
Upstream
No direct supply-chain link — PC Jeweller names no gold or diamond supplier in the pack, and repaying banks does not order more metal.
Where demand moves
Business
No new customer demand is created — shoppers do not buy more gold because one jeweller repaid loans; the business benefit is lower interest cost, so more of each sale becomes profit.
Capital
Investors are moving money into PC Jeweller as a turnaround bet, with a small spillover of buying interest into profitable jewellery peers.
How it spreads across sectors
Consumer Durables
Mild positive for jewellery makers as PC Jeweller's profit growth signals healthy festive demand, but no cost or order change for paint, appliance or other durable makers.
Consumer Services
No real readthrough — jewellery retail strength does not fill hotels, restaurants or online carts.
When it plays out
Immediate
1–7 days: PC Jeweller stays firm on debt-free headlines; peers see small sympathy moves.
Medium term
1–6 months: PC Jeweller must show it can grow stores and margins debt-free; peers trade on their own results.
Short term
1–4 weeks: focus shifts to festive jewellery sales and whether PC Jeweller sustains profit without debt.
25 Sept, 15:12 IST · Market event · high impact
Accel India, 360 ONE Group sell over 4% stake in BlueStone for ₹513 cr
Two early investors sold 4% of jeweller BlueStone for ₹513 crore to institutions, pressuring its shares briefly while rival jewellers see no change.
Who it hits first
- Accel India and 360 ONE Group, early backers of BlueStone Jewellery, sold over 4% of the company for Rs 513 crore.
- Domestic and overseas funds bought an equal number of shares at the same price, fully absorbing the block.
- BlueStone faces brief share-price pressure from the extra supply, while its stores and sales run unchanged.
Who may gain
- Buying domestic and overseas funds gain — they picked up a large 4% block at market price in one go.
- BlueStone gets a wider institutional shareholder base, which can steady future trading.
- Rival jewellers such as Titan, Kalyan and PC Jeweller gain nothing — no shoppers or gold sales move.
Along the supply chain
Downstream
No downstream change — shoppers see the same stores, prices and designs; a share sale touches none of it.
Upstream
No upstream change — gold, diamond and making-charge suppliers keep the same orders from BlueStone.
Where demand moves
Business
No business demand change — BlueStone stores sell the same jewellery; only the share register changes.
Capital
Capital rotates from early backers Accel and 360 ONE into institutional funds; free float rises and brief selling pressure fades as new holders settle.
How it spreads across sectors
Consumer Durables
Neutral for jewellery and Consumer Durables — a fund-to-fund share sale at one retailer moves no demand for peers.
When it plays out
Immediate
1-7 days: BlueStone shares digest the extra supply; price finds a base as buyers settle.
Medium term
1-6 months: back to earnings, store growth and gold prices; the block fades from memory.
Short term
1-4 weeks: new institutional holders settle in; wider float can improve daily trading.
22 Sept, 16:24 IST · Market event · high impact
75% rally in 6 months! PC Jeweller share price zooms over 6% | Here's why
PC Jeweller paid off over 98% of its bank loans, lifting its own shares as borrowing costs fall, while rival jewellers gain only sentiment with no direct sales boost.
Who it hits first
- PC Jeweller Limited, a jewellery retailer, cleared its outstanding loans from its group of banks, settling over 98% of its debt and moving toward debt-free status.
- Its shares rose 6.10% on the day and are up 75% in six months as investors price in lower interest costs and lower failure risk.
- Rival jewellers see no change in their own loans or sales from this news, only a small sentiment lift for the jewellery sector.
Who may gain
- PC Jeweller shareholders, who now own a jewellery retailer with far lower debt and smaller interest bills.
- PC Jeweller's consortium banks, whose loans are now repaid with risk removed.
- Listed jeweller peers broadly, who get a small confidence lift as one stressed name cleans up.
Along the supply chain
Downstream
No direct downstream link — shoppers and showrooms see no price or supply change from the loan repayment.
Upstream
No direct upstream link — gold and diamond suppliers see no extra orders, since this is a balance-sheet clean-up, not higher jewellery output.
Where demand moves
Business
No new household demand for jewellery — PC Jeweller sold no extra gold; the gain is financial, as cash that went to interest payments can now fund stock and stores.
Capital
Fresh buying flows into PC Jeweller shares on the solvency news, with a light sympathy bid for listed jeweller peers such as Titan and Kalyan Jewellers.
How it spreads across sectors
Consumer Durables
Mild positive sentiment for jeweller stocks as one peer's debt risk fades, but no change in gold demand, costs, or sales across the sector.
When it plays out
Immediate
PC Jeweller shares stay firm over 1–7 days as the 6.10% jump digests and traders watch for debt-free confirmation.
Medium term
Over 1–6 months PC Jeweller's lower interest bill can show in profits if sales hold, while peers stay unaffected.
Short term
Over 1–4 weeks peers drift with gold prices and festive demand, not this news, unless PC Jeweller confirms zero debt.
16 Sept, 20:53 IST · Market event · high impact
UPDATE: GRT Jewellers launches ₹431 crore open offer for remaining TBZ stake
GRT Jewellers launched its ₹431-crore open offer for TBZ at roughly Rs 249 a share — far below TBZ’s Rs 548 market price — so TBZ holders face a likely sharp fall while rival jewellers are unaffected.
Who it hits first
- TBZ (Tribhovandas Bhimji Zaveri) is changing owners: Chennai-based GRT Jewellers, which is buying a 74.12% controlling block, has now launched the compulsory Rs 431 crore open offer for the remaining ~26% of shares from the public.
- The Rs 431 crore price tag works out to roughly Rs 248-250 per share — less than half of TBZ’s Rs 547.50 market price on 16 September — so anyone holding TBZ shares is sitting on a price the buyer itself will not pay.
- TBZ is under Stage-3 exchange surveillance (ASM, up from Stage 1 on 2 September) with 10% daily price bands, which marks the 79% rally since the deal as exchange-flagged speculation and makes leveraged bets on it much harder.
Who may gain
- GRT Jewellers (unlisted) is the strategic winner: the launch moves it a step closer to full control of TBZ’s stores, brand and north-India footprint.
- No listed company benefits in any near-term, tradeable way — this launch only sets the exit price for TBZ’s own minority holders, and rival jewellers’ sales and costs are untouched.
Along the supply chain
Downstream
TBZ’s customers are retail jewellery buyers, not companies, so there is no downstream business customer affected; shoppers see no change in stores or prices from an ownership swap.
Upstream
TBZ buys gold and diamonds from bullion dealers and suppliers who keep selling to the same stores under a new owner — no supplier loses or gains business from this launch.
Where demand moves
Business
No supply is disrupted and no new demand is created: TBZ’s shops keep selling jewellery as before, only the owner changes. GRT gains TBZ’s store network and brand to sell through, which over quarters could pull some wedding-jewellery demand from rivals, but no orders shift today.
Capital
Money parked in TBZ for the takeover thrill now faces a confirmed cash exit at ~Rs 249 versus a Rs 547.50 market price, so event-driven holders are likely to sell and rotate into other jewellery names or out of the theme entirely; no broad sector rotation is expected since peers were already shown to trade on gold prices, not this deal.
How it spreads across sectors
Consumer Durables
Neutral for the wider sector: a single-brand ownership change with a below-market exit price, no readthrough to other retailers’ earnings — the 31 August precedent showed large peers flat-to-down while only TBZ moved.
When it plays out
Immediate
TBZ’s price confronts the confirmed ~Rs 249 exit: profit-booking and long unwinding likely within days, slowed by 10% bands and ASM curbs.
Medium term
Deal completion and integration; TBZ trades as a GRT-controlled listed subsidiary and slowly re-rates toward jewellery-peer multiples rather than takeover fantasy.
Short term
Tendering-window mechanics play out over coming weeks; with the market far above the offer price, acceptances should be negligible and GRT stays near 74.12%.
Dividends, splits & big trades
Money paid out, share splits and buybacks, and big buys or sells by funds and insiders.
Bulk & block deals
| Date | Who | Bought / sold | Shares | Price |
|---|---|---|---|---|
| 24 Aug 2026 | NK SECURITIES RESEARCH PRIVATE LIMITED | BUY | 66,91,599 | ₹265.59 |
| 24 Aug 2026 | NK SECURITIES RESEARCH PRIVATE LIMITED | SELL | 66,91,599 | ₹265.74 |
Documents
Annual reports, results presentations and earnings calls, straight from the source.
- Results presentation30 Jun 2026
Facts from company filings and exchange data. Not investment advice: nothing here tells you to buy or sell.