BSE: 540936
Gautam Gems Limited
Operates in the gems, jewellery and watches segment from a registered office in Surat, Gujarat. For FY26, reported revenue of ₹79.71 crore, with materials the dominant cost at 104.2% of revenue, against employee costs of 0.8% and other operating expenses of 0.6%. Capital expenditure was ₹0.02 crore, indicating a low-asset, trading-heavy business model. The company is listed on BSE with 4,61,07,900 equity shares outstanding. The statutory auditor flagged that trade receivables and advances over 3 years old are under litigation with uncertain realisable value, and that TDS had not been paid to government authorities on time. Operating cash flow turned negative at ₹10.25 lakhs in FY26 from a positive ₹44.33 lakhs in FY25. AR · MarketPing reader · 2026-08-03
Revenue streams, as the annual report describes them. Gems, Jewellery and Watches. Thin-margin, low-asset gems and jewellery business
Exhibit 1: Financial summary, FY22–FY26 (all audited; no estimate years)
| ₹ crore · standalone | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Revenue | 180 | 91 | 101 | 78 | 80 |
| EBITDA (ex other income) | 1 | 1 | 1 | 1 | 1 |
| margin % | 0.6 | 0.8 | 0.7 | 0.8 | 0.9 |
| Owners' profit | 1 | 0 | 0 | 0 | 1 |
| EPS, as reported (₹) | 0.52 | 0.71 | 0.09 | 0.14 | 0.16 |
| ROE % · ROCE % | 3.6 · 7.1 | 1.4 · 3.3 | 0.7 · 1.7 | 0.6 · 1.5 | 1.3 · 2.3 |
| Debt / equity (x) | 0.57 | 0.25 | 0.08 | 0.12 | 0.11 |
| Cash from operations | 1 | 0 | (26) | 0 | (0) |
| Capex | (0) | 0 | 0 | 0 | (0) |
Exhibit 2: Quarterly performance, last 8 quarters
| ₹ crore | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 17 | 13 | 23 | 23 | 23 | 13 | 20 | 29 |
| Profit before tax | 0 | 0 | 0 | 0 | 0 | 0 | 1 | 0 |
| Net profit | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| EPS (₹) | 0.02 | 0.03 | 0.02 | 0.02 | 0.03 | 0.02 | 0.09 | 0.03 |
Exhibit 3: Peers — basic industry group, by market cap
| Company | M.cap ₹ cr | P/E | P/B | EV/EBITDA | ROE % | ROCE % | Rev CAGR 5y % | EBITDA m. % |
|---|---|---|---|---|---|---|---|---|
| KHAZANCHI JEWELLERS LTD | 1,792 | 12.6 | 5.61 | — | 28.0 | 37.7 | — | 6.8 |
| UDAY JEWELLERY INDS. LTD. | 753 | 28.5 | 3.63 | — | 17.2 | 23.1 | — | 8.3 |
| PNGS GARGI FASHION JEWELLERY L | 540 | 11.4 | 3.81 | — | 22.1 | 27.0 | — | 30.4 |
| KD GREEN INDUSTRIES LTD | 284 | 18.1 | 3.95 | 31.7 | 7.0 | 8.6 | — | 16.5 |
| GOLKUNDA DIAMONDS & JEWELLERY | 246 | 18.0 | 3.07 | — | 17.1 | 20.7 | — | 9.0 |
| AJC Jewel Manufacturers Limite | 198 | 47.5 | — | — | — | 28.7 | — | — |
| ASHAPURI GOLD ORNAMENT L | 192 | 9.3 | 1.15 | — | 11.1 | 15.0 | — | 11.4 |
| Patdiam Jewellery Limited | 147 | 7.8 | — | — | — | — | — | — |
Exhibit 4: Where the company sits in its group
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/E (TTM) | 17.6 | 12.9 | 27 of 47 | 44% |
| P/B | 0.3 | 1.0 | 2 of 37 | 97% |
| ROCE | 1.8 | 4.7 | 34 of 50 | 33% |
| ROE | 1.4 | 2.3 | 24 of 37 | 36% |
| Debt / Equity | 0.1 | 0.1 | 21 of 37 | 44% |
| EBITDA margin | 0.7 | 6.8 | 26 of 35 | 27% |
| Revenue growth | 24.5 | 13.8 | 16 of 36 | 57% |
| Profit growth | 78.8 | 1.4 | 10 of 34 | 73% |
| Market cap | 13 | 25 | 43 of 54 | 21% |
Exhibit 5: Filings of the last 90 days, with the measured price reaction
| Date · filing | Category | Importance | Next day % | 5-day % |
|---|---|---|---|---|
| 20 Oct 2026 · Share transfer agent confirms timely processing of dematerialisation requests | compliance | minimal | — | — |
| 2 Oct 2026 · Gautam Gems appoints Madhav Upadhyay and Associates as Secretarial Auditor | management changes | medium | — | — |
| 2 Oct 2026 · 13th AGM results: all 3 resolutions passed with over 99% approval | compliance | minimal | — | — |
| 30 Sept 2026 · 13th AGM proceedings: PAT up 147%, revenue rises 1.75% | board shareholder meetings | medium | — | — |
| 30 Sept 2026 · Trading window closed for Q2 FY27 results compliance | compliance | minimal | — | — |
| 9 Sept 2026 · Gautam Gems announces 13th AGM on September 30, 2026 | compliance | minimal | — | — |
| 9 Sept 2026 · AGM notice published in newspapers, 13th AGM on September 30, 2026 | compliance | minimal | — | — |
| 7 Sept 2026 · Gautam Gems sets Sept 30, 2026 as 13th AGM date; cut-off date Sept 24, 2026 | board shareholder meetings | low | — | — |
| 7 Sept 2026 · Gautam Gems 13th AGM on Sep 30 2026 via VC, e-voting Sep 26-29 | board shareholder meetings | low | — | — |
| 7 Sept 2026 · 13th AGM on Sep 30, 2026 and FY26 Integrated Annual Report filed | board shareholder meetings | medium | — | — |
How to read this document
| Where a broker report shows | This document shows | Why |
|---|---|---|
| A rating (BUY / ADD / REDUCE / SELL) | A state: the latest filed quarter and the measured reactions | an event is a fact; a rating is an opinion that requires SEBI RA registration |
| A target price and upside | The current price and the multiples against the group | a target is a forecast; a multiple is a measurement |
| Estimate years marked E | More audited years; no estimates | MarketPing publishes no forecasts — your own model lives on the Models page |
Sources, method and disclosures
This document is a statistical summary of publicly filed information and market data, prepared by software from primary sources: SEBI results XBRL filed with BSE and NSE, LODR disclosures, shareholding patterns, exchange price data. It contains no research recommendation, no price target and no opinion on the merits of any security, and is not a research report within the meaning of the SEBI (Research Analysts) Regulations, 2014, Regulation 2(1)(w)(vii). Financial statements are as filed (consolidated where the company files consolidated results). Ratios are computed over filed lines. Where a figure is unavailable the table shows a dash rather than an estimate. The business brief is written by MarketPing's reader from the annual report and checked against it; no figure in a table was generated by a model. Nothing here constitutes investment advice, an offer or a solicitation; readers should consult a SEBI-registered adviser before acting. MarketPing is not a SEBI-registered intermediary.