S.M. Gold
BSE: SMGOLD · Gems, Jewellery And Watches
Limited coverage
We are not actively covering this company or have limited coverage today. Click to request coverage.
Snapshot
Unlock S.M. Gold's vital signs
Growth · Profitability · Valuation · Strength · Conviction
Company Overview
Business
S.M. Gold Limited is an Ahmedabad-based manufacturer and wholesaler specialising in gold jewellery, including mangalsutras, rings, and bracelets. The company processes gold bullion into finished pieces, often incorporating precious and semi-precious stones for both traditional and contemporary markets.
Business Model
The company operates on a business-to-business model, supplying finished jewellery products directly to various retailers across India. It leverages its manufacturing infrastructure and design capabilities to maintain a presence in the organized jewellery sector.
Management Commentary
Management focuses on maintaining a niche position within the highly fragmented Indian jewellery industry through rigorous quality control and craftsmanship.
Growth Outlook
Growth is driven by the company's ability to cater to diverse design preferences and its commitment to quality within the organized jewellery market.
Key Risks
- Gold Price Volatility. Fluctuations in the price of gold bullion can significantly impact the company's profit margins and inventory valuation.
- Market Competition. The Indian jewellery industry is highly fragmented, with intense competition from both large organized players and numerous unorganised local jewellers.
- Regulatory Risk. Changes in government policies regarding gold imports, taxation, or hallmarking standards could adversely affect operational costs and compliance requirements.
- Dependency on Retailers. As a B2B wholesaler, the company's revenue is highly dependent on the purchasing power and demand cycles of its retail jewellery partners.
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Key Metrics
REVENUE
₹156 Cr
TTM · standalone
NET PROFIT
₹2 Cr
TTM · standalone
EPS
₹1.29
TTM · standalone
RETURN ON EQUITY
6.1%
TTM · standalone
RETURN ON CAPITAL EMPLOYED
10.0%
TTM · standalone
P/E
9.3x
Q4 FY26 · standalone
EV/EBITDA
11.0x
Q4 FY26 · standalone
EBITDA MARGIN
1.7%
TTM · standalone
NET PROFIT MARGIN
2.4%
Q4 FY26 · standalone
DEBT TO EQUITY
0.5x
Q4 FY26 · standalone
Peers · Gems, Jewellery And Watches
| Company | Mkt Cap | P/E | EV/EBITDA | Rev Gr YoY | EBITDA Mgn | ROE | ROCE | 1Y Return |
|---|---|---|---|---|---|---|---|---|
S.M. GoldSMGOLD | ₹15 Cr | 8.75 | 10.94 | 77.8% | 1.7% | 6.1% | 10.0% | -26.3% |
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 Q4 FY26
Financials
S.M. Gold
BSE: SMGOLD · Gems, Jewellery And Watches
Limited coverage
We are not actively covering this company or have limited coverage today. Click to request coverage.
Snapshot
Unlock S.M. Gold's vital signs
Growth · Profitability · Valuation · Strength · Conviction
Company Overview
Business
S.M. Gold Limited is an Ahmedabad-based manufacturer and wholesaler specialising in gold jewellery, including mangalsutras, rings, and bracelets. The company processes gold bullion into finished pieces, often incorporating precious and semi-precious stones for both traditional and contemporary markets.
Business Model
The company operates on a business-to-business model, supplying finished jewellery products directly to various retailers across India. It leverages its manufacturing infrastructure and design capabilities to maintain a presence in the organized jewellery sector.
Management Commentary
Management focuses on maintaining a niche position within the highly fragmented Indian jewellery industry through rigorous quality control and craftsmanship.
Growth Outlook
Growth is driven by the company's ability to cater to diverse design preferences and its commitment to quality within the organized jewellery market.
Key Risks
- Gold Price Volatility. Fluctuations in the price of gold bullion can significantly impact the company's profit margins and inventory valuation.
- Market Competition. The Indian jewellery industry is highly fragmented, with intense competition from both large organized players and numerous unorganised local jewellers.
- Regulatory Risk. Changes in government policies regarding gold imports, taxation, or hallmarking standards could adversely affect operational costs and compliance requirements.
- Dependency on Retailers. As a B2B wholesaler, the company's revenue is highly dependent on the purchasing power and demand cycles of its retail jewellery partners.
Start your research today
Unlock AI insights, financials, peers and live data on S.M. Gold and 5,000+ companies — free.
Key Metrics
REVENUE
₹156 Cr
TTM · standalone
NET PROFIT
₹2 Cr
TTM · standalone
EPS
₹1.29
TTM · standalone
RETURN ON EQUITY
6.1%
TTM · standalone
RETURN ON CAPITAL EMPLOYED
10.0%
TTM · standalone
P/E
9.3x
Q4 FY26 · standalone
EV/EBITDA
11.0x
Q4 FY26 · standalone
EBITDA MARGIN
1.7%
TTM · standalone
NET PROFIT MARGIN
2.4%
Q4 FY26 · standalone
DEBT TO EQUITY
0.5x
Q4 FY26 · standalone
Peers · Gems, Jewellery And Watches
As of Q4 FY26