Goblin India
BSE: GOBLIN · Gems, Jewellery And Watches
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Snapshot
Unlock Goblin India's vital signs
Growth · Profitability · Valuation · Strength · Conviction
Company Overview
Business
Goblin India Limited is an Ahmedabad-based company specialising in the design, marketing, and distribution of travel gear and lifestyle accessories. Its product portfolio encompasses hard and soft luggage, trolleys, backpacks, and executive laptop bags.
Business Model
The company operates through a multi-channel distribution network, including exclusive brand outlets, multi-brand dealers, and e-commerce platforms. It employs an asset-light model by outsourcing manufacturing while maintaining strict quality control and design oversight.
- Primary Segments:Retail and Corporate Gifting
Management Commentary
Management focuses on design innovation and expanding the company's footprint from its base in Western India to a pan-India presence. The strategy emphasises both retail expansion and digital marketing initiatives.
Growth Outlook
Growth is expected to be driven by strategic retail expansion and the scaling of digital marketing initiatives. The company is also exploring opportunities in related lifestyle categories and promotional merchandise.
- Market Focus:Pan-India expansion
Key Risks
- Competitive Intensity. The company faces significant competition from both established domestic luggage brands and international labels.
- Supply Chain Dependency. Reliance on outsourced manufacturing may expose the company to quality control issues or supply chain disruptions.
- Economic Sensitivity. Demand for travel gear and lifestyle accessories is highly sensitive to discretionary consumer spending and travel trends.
- Market Liquidity. As a company listed on the BSE SME platform, it may face risks associated with lower trading volumes and liquidity compared to mainboard listings.
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Peers · Gems, Jewellery And Watches
| Company | Mkt Cap | P/E | EV/EBITDA | Rev Gr YoY | EBITDA Mgn | ROE | ROCE | 1Y Return |
|---|---|---|---|---|---|---|---|---|
Goblin IndiaGOBLIN | ₹12 Cr | — | — | — | 6.5% | — | — | -48.5% |
Maxgrow IndiaMAXGROW | ₹632 Cr | — | — | — | 2.0% | — | — | +1200.7% |
RBZ Jewellers LimitedRBZJEWEL | ₹585 Cr | 10.30 | 7.45 | 30.3% | 14.3% | 20.8% | 30.5% | +6.5% |
PNGS Gargi Fashion Jewellery LimitedGARGI | ₹576 Cr | — | — | — | 27.0% | — | — | -37.2% |
Uday Jewellery Industries LimitedUDAYJEW | ₹464 Cr | 17.78 | 13.64 | 128.5% | 7.0% | 25.1% | 33.4% | -18.8% |
Manbro Industries LimitedMANBRO | ₹346 Cr | 35.93 | 345.70 | — | 270.3% | 2.3% | 2.3% | -89.7% |
As of Mar 2026
Financials
Goblin India
BSE: GOBLIN · Gems, Jewellery And Watches
Limited coverage
We are not actively covering this company or have limited coverage today. Click to request coverage.
Snapshot
Unlock Goblin India's vital signs
Growth · Profitability · Valuation · Strength · Conviction
Company Overview
Business
Goblin India Limited is an Ahmedabad-based company specialising in the design, marketing, and distribution of travel gear and lifestyle accessories. Its product portfolio encompasses hard and soft luggage, trolleys, backpacks, and executive laptop bags.
Business Model
The company operates through a multi-channel distribution network, including exclusive brand outlets, multi-brand dealers, and e-commerce platforms. It employs an asset-light model by outsourcing manufacturing while maintaining strict quality control and design oversight.
- Primary Segments:Retail and Corporate Gifting
Management Commentary
Management focuses on design innovation and expanding the company's footprint from its base in Western India to a pan-India presence. The strategy emphasises both retail expansion and digital marketing initiatives.
Growth Outlook
Growth is expected to be driven by strategic retail expansion and the scaling of digital marketing initiatives. The company is also exploring opportunities in related lifestyle categories and promotional merchandise.
- Market Focus:Pan-India expansion
Key Risks
- Competitive Intensity. The company faces significant competition from both established domestic luggage brands and international labels.
- Supply Chain Dependency. Reliance on outsourced manufacturing may expose the company to quality control issues or supply chain disruptions.
- Economic Sensitivity. Demand for travel gear and lifestyle accessories is highly sensitive to discretionary consumer spending and travel trends.
- Market Liquidity. As a company listed on the BSE SME platform, it may face risks associated with lower trading volumes and liquidity compared to mainboard listings.
Start your research today
Unlock AI insights, financials, peers and live data on Goblin India and 5,000+ companies — free.
Peers · Gems, Jewellery And Watches
As of Mar 2026