BSE: 530037
SPARKLE GOLD ROCK LIMITED
Classified under the precious metals industry and based in Jaipur, the entity formerly known as Sree Jayalakshmi Autospin Limited reported FY26 revenue of ₹111.57 crore. The business scaled up sharply from ₹227.60 lakhs in Q3 FY25 to ₹4,572.54 lakhs in Q3 FY26, with related party transactions with Sparkle Gold Mine Private Limited totaling ₹1,971.40 lakhs in sales and ₹3,308.16 lakhs in purchases — both flagged by auditors as lacking proper Section 188 approvals and arm's length pricing verification. Working capital is heavy, with trade receivables of ₹5,459.92 lakhs and inventory of ₹1,826.90 lakhs at recent reporting dates. The cost structure shows employee cost at 0.2% of revenue and other operating expenses at 0.3% of revenue, with materials at 0% of revenue. The statutory auditor issued a qualified opinion flagging related party transactions, MSME creditor non-compliance, lack of Expected Credit Loss provisions on receivables, and a customs penalty matter concerning the legacy IEC. Management is evaluating potential acquisitions. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. Single segment (100%). Working-capital intensive, small-cap, recently scaled precious metals entity with auditor qualifications and legacy compliance issues.
Exhibit 1: Financial summary, FY22–FY26 (all audited; no estimate years)
| ₹ crore · standalone | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Revenue | 2 | 0 | 0 | 9 | 112 |
| EBITDA (ex other income) | (0) | (0) | (0) | (0) | 5 |
| margin % | (8.1) | — | — | (2.8) | 4.7 |
| Owners' profit | (0) | (0) | 3 | (0) | 4 |
| EPS, as reported (₹) | (0.26) | (0.13) | 7.16 | 0.55 | 9.26 |
| ROE % · ROCE % | 6.7 · (17.2) | 3.2 · (8.8) | 234.8 · 234.7 | (21.8) · (12.1) | 78.6 · 99.4 |
| Debt / equity (x) | (1.39) | (1.37) | 0.00 | 3.46 | 3.05 |
| Cash from operations | 1 | (0) | (0) | (0) | (16) |
| Capex | 0 | 0 | 0 | (0) | (0) |
Exhibit 2: Quarterly performance, last 8 quarters
| ₹ crore | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 0 | 0 | 2 | 7 | 2 | 13 | 46 | 51 |
| Profit before tax | 0 | (0) | (0) | (0) | 0 | 0 | 1 | 4 |
| Net profit | 0 | (0) | (0) | (0) | 0 | 0 | 1 | 3 |
| EPS (₹) | (0.11) | 0.02 | (0.10) | 0.30 | 0.18 | 0.71 | 1.81 | 6.55 |
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. % |
|---|---|---|---|---|---|---|---|---|
| DECCAN GOLD MINES LTD. | 3,773 | — | 7.61 | — | (13.0) | (15.4) | — | (218.7) |
| Nanavati Ventures Limited | 37 | 123.1 | — | — | — | 0.7 | — | — |
| SPARKLE GOLD ROCK LIMITED ◆ | 32 | 7.7 | 6.04 | — | 78.6 | 99.4 | — | 7.9 |
| UTIQUE ENTERPRISES LIMITED | 22 | 6.7 | 0.93 | (2.5) | 2.9 | 1.7 | — | — |
| AMANAYA VENTURES LIMITED | 7 | 13.3 | 1.22 | — | 3.8 | 5.2 | — | 0.1 |
Exhibit 4: Where the company sits in its group
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/E (TTM) | 7.7 | 16.5 | 2 of 22 | 95% |
| P/B | 6.0 | 3.0 | 14 of 20 | 32% |
| ROCE | 99.4 | 7.8 | 1 of 24 | 100% |
| ROE | 78.6 | 7.6 | 1 of 20 | 100% |
| Debt / Equity | 3.0 | 0.4 | 20 of 20 | 0% |
| EBITDA margin | 7.9 | 6.8 | 9 of 19 | 56% |
| Revenue growth | 654.4 | 13.6 | 2 of 21 | 95% |
| Profit growth | 2211.9 | 55.9 | 1 of 20 | 100% |
| Market cap | 32 | 221 | 20 of 24 | 17% |
Exhibit 5: Filings of the last 90 days, with the measured price reaction
| Date · filing | Category | Importance | 1-day % | 5-day % |
|---|---|---|---|---|
| 1 Oct 2026 · Appointed M/s Dhadda and Associates as Statutory Auditor | management changes | medium | — | — |
| 1 Oct 2026 · Appointment of Statutory Auditor approved by Board | management changes | medium | — | — |
| 1 Oct 2026 · Appointment of Non-Executive Independent Director | management changes | medium | — | — |
| 1 Oct 2026 · Sparkle Gold Rock appoints new Non-Executive Independent Director | management changes | medium | — | — |
| 1 Oct 2026 · Shareholders approve massive 101x increase in authorized share capital | corporate actions | medium | — | — |
| 1 Oct 2026 · AGM Sep 30 2026: All 7 resolutions approved by shareholders | board shareholder meetings | low | — | — |
| 30 Sept 2026 · AGM 2026: All 7 resolutions passed, including share capital hike and borrowing limit approval | board shareholder meetings | low | — | — |
| 30 Sept 2026 · AGM held on 30 Sep 2026; seven resolutions tabled, results awaited | board shareholder meetings | low | — | — |
| 25 Sept 2026 · Trading Window closed from Oct 1 for Q2 and H1 FY26 results | compliance | minimal | — | — |
| 9 Sept 2026 · Sparkle Gold Rock publishes AGM notice in newspapers | compliance | minimal | — | — |
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.