Bhakti Gems & Jewellery Ltd

BGJL

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Market Cap

₹ 43 Cr

P/E

69.61

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Investment Checklist

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Performance

MARKET LEADER

Valuation

OVERVALUED

Growth

STABLE

Profitability

MODERATE MARGIN

Technicals

Bullish

Risk

MODERATE RISK

Investment Checklist

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Price

PE Ratio

Price

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Overview

Detailed Summary

Bhakti Gems & Jewellery Limited is a manufacturer, wholesaler, and supplier of gold jewellery, headquartered in Ahmedabad, Gujarat. It focuses on traditional Indian designs.

The company outsources manufacturing to job workers in Ahmedabad and Mumbai, ensuring a broad distribution network.

Products include handmade gold jewellery with stones like diamond, ruby, and cubic zirconia, catering to diverse consumer tastes.

Established as a private limited company in 2010, Bhakti transitioned to a public entity in 2017, with successful IPO fundraising.

Their procurement strategy involves sourcing gold and silver from both the bullion market and local Ahmedabad markets.

Sector

Diamond, Gems and Jewellery

Industry

Diamond Cutting / Jewellery - Medium / Small

Market Cap

43 Cr

Volatility

Low Risk

P/E Ratio

69.6

Industry P/E

22.8

PEG Ratio

—

P/B Ratio

1.8

52W High

30.00

52W Low

10.51

Sales CAGR

8.65%

8.79%

15.47%

10Y

21.70%

Profit CAGR

-12.82%

-8.22%

24.43%

10Y

56.21%

ROE

TTM

2.54%

3.50%

3.56%

10Y

2.80%

ROCE

TTM

3.73%

7.09%

6.98%

10Y

5.42%

Technicals

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Forecasts

Peers

Symbol	Price	Market Cap	P/E	P/B	Div Yield (%)	ROE (%)	ROCE (%)	ROA (%)
AJCJEWEL	85.00	52 Cr	17.92	1.72	0.00	13.74	12.07	5.95
MANOJJEWEL	50.94	46 Cr	9.61	1.49	0.00	22.99	30.65	18.28
ZODJRDMKJ	40.75	45 Cr	72.77	0.49	0.00	0.67	1.26	0.65
BGJL	28.50	43 Cr	69.61	1.76	0.00	2.54	3.73	2.32
UHZAVERI	13.66	42 Cr	683.00	1.05	0.00	0.30	0.26	0.21
EIGHTY	36.25	37 Cr	19.92	1.36	0.00	12.49	12.30	5.85
KANANIIND	1.79	35 Cr	16.27	0.53	0.00	3.15	3.37	2.21

Financial Statements

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Standalone Quarterly Results (in ₹ Crores)

Total Figures

QoQ Changes

Total Figures

	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025
Sales	16	26	31	31	7.33	25	41	40	9.39	4.08
Expenses	16	26	30	30	7.23	24	41	40	9.24	3.93
Operating Profit	0.26	0.40	0.45	0.51	0.10	0.38	0.20	0.40	0.15	0.15
OPM %	1.61	1.51	1.47	1.66	1.36	1.54	0.49	1.00	1.60	3.68
Other Income	0.00	0.00	0.00	0.02	0.01	0.00	0.00	0.09	0.00	0.00
Interest	0.05	0.12	0.19	0.16	0.02	0.09	0.04	0.05	0.03	0.01
Depreciation	0.02	0.00	0.03	0.03	0.00	0.04	0.02	0.01	0.00	0.00
Profit Before Tax	0.20	0.28	0.23	0.33	0.09	0.26	0.13	0.42	0.12	0.14
Tax %	25.00	21.43	52.17	36.36	22.22	23.08	15.38	30.95	16.67	28.57
Net Profit	0.15	0.22	0.11	0.21	0.07	0.20	0.11	0.30	0.10	0.11
EPS in Rs	0.07	0.15	0.07	0.14	0.05	0.13	0.08	0.20	0.07	0.07

Standalone Profit Loss (in ₹ Crores)

Total Figures

YoY Changes

Total Figures

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	TTM
Sales	23	39	62	55	68	88	103	104	113	115
Expenses	23	39	62	55	68	87	101	102	112	114
Operating Profit	0.21	0.29	0.13	0.29	0.40	0.47	1.97	1.62	1.07	1.13
OPM %	0.92	0.76	0.21	0.53	0.59	0.53	1.92	1.56	0.95	0.98
Other Income	0.10	0.05	0.09	0.09	0.04	1.21	0.00	0.02	0.10	NaN
Interest	0.06	0.08	0.12	0.07	0.09	0.51	0.85	0.52	0.20	0.21
Depreciation	0.01	0.01	0.01	0.01	0.01	0.02	0.07	0.08	0.07	0.07
Profit Before Tax	0.24	0.25	0.09	0.30	0.34	1.15	1.05	1.04	0.90	0.93
Tax %	29.94	26.71	25.32	24.18	23.10	23.94	24.34	25.53	24.99	23.66
Net Profit	0.17	0.19	0.07	0.23	0.26	0.88	0.80	0.78	0.68	0.71
EPS in Rs	—	—	—	—	0.61	0.78	0.53	0.43	0.46	0.42
Dividend Payout %	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	—

Standalone Balance Sheet (in ₹ Crores)

Total Figures

YoY Changes

Total Figures

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Equity Capital	0.56	4.85	6.81	8.72	10	10	10	10	15	15
Reserves	2.26	1.57	3.72	5.87	4.79	5.03	5.90	6.70	8.47	9.15
Borrowings	1.63	0.00	2.78	3.03	0.00	7.37	13	8.81	1.68	1.24
Other Liabilities	0.46	0.82	1.18	0.37	0.31	0.19	0.59	0.73	0.56	0.67
Total Liabilities	4.91	7.24	14	18	15	23	30	26	26	26
Fixed Assets	0.07	0.07	0.17	0.16	0.17	0.25	0.32	1.08	1.06	1.04
CWIP	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Investments	0.00	0.00	1.65	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Other Assets	4.84	7.16	13	18	15	22	30	25	25	25
Total Assets	4.91	7.24	14	18	15	23	30	26	26	26

Standalone Cash Flows (in ₹ Crores)

Total Figures

YoY Changes

Total Figures

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Cash from Operating Activity	-0.70	0.87	-4.45	-6.05	0.24	-0.05	0.60	1.59	6.84	-6.65
Cash from Investing Activity	-0.02	-0.01	-2.06	1.60	0.00	-0.14	-0.60	-1.61	-0.02	-0.14
Cash from Financing Activity	0.89	0.88	6.64	4.16	0.00	-0.02	-0.01	0.00	-0.02	0.00
Net Cash Flow	0.17	1.74	0.12	-0.29	0.24	-0.20	-0.01	-0.02	6.81	-6.79

Shareholdings

Shareholding History

Quarterly

Yearly

Quarterly

	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025
Promoters	39.19%	39.19%	39.19%	40.76%	40.62%	40.39%	40.79%	40.79%	40.79%	40.79%	40.79%	10.88%
FIIs	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
DIIs	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Public	60.81%	60.81%	60.81%	59.24%	59.38%	59.61%	59.21%	59.21%	59.21%	59.21%	59.21%	89.12%
Total Shareholders	11,794	11,287	11,121	11,154	11,209	11,390	11,317	11,317	11,792	11,660	11,527	10,567

Market Transactions

Date	Party	Category	Type	Avg Price (₹)	Total Value (₹)	Quantity	Percent Traded
Dec 11, 2025	Maheta jimi dishant	Bulk	Sell	28.42	0.43 Cr	1,50,000	0.99
Dec 08, 2025	Meet prafulchandra mehta	Insider - Director	Disposal	28.65	0.43 Cr	1,50,000	0.99
Dec 08, 2025	Varshaben akshay mehta	Insider - Promoter & Director	Disposal	28.53	0.21 Cr	75,000	0.49
Dec 04, 2025	Lalit kumar	Bulk	Buy	29.12	0.30 Cr	1,03,851	0.69
Dec 04, 2025	Nand kishore jain	Bulk	Buy	29.12	0.22 Cr	76,221	0.50
Dec 03, 2025	Sahil gupta	Bulk	Buy	28.54	0.55 Cr	1,90,998	1.26
Dec 03, 2025	Neeraj kumar singla	Bulk	Sell	28.31	0.46 Cr	1,62,248	1.07
Dec 03, 2025	Rekha khatri	Bulk	Buy	28.33	0.33 Cr	1,15,108	0.76
Dec 03, 2025	Vikas jain	Bulk	Sell	28.75	0.23 Cr	80,000	0.53
Dec 03, 2025	Rekha khatri	Bulk	Sell	28.80	0.03 Cr	9,503	0.06

Projection

Actions

Action Type

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Announcements

Last 7 days

Newest

Sentiment

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Documents

Presentations

Concalls

Reports

Presentations

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Financial Statements

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Standalone Quarterly Results (in ₹ Crores)

Total Figures

QoQ Changes

Total Figures

	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025
Sales	16	26	31	31	7.33	25	41	40	9.39	4.08
Expenses	16	26	30	30	7.23	24	41	40	9.24	3.93
Operating Profit	0.26	0.40	0.45	0.51	0.10	0.38	0.20	0.40	0.15	0.15
OPM %	1.61	1.51	1.47	1.66	1.36	1.54	0.49	1.00	1.60	3.68
Other Income	0.00	0.00	0.00	0.02	0.01	0.00	0.00	0.09	0.00	0.00
Interest	0.05	0.12	0.19	0.16	0.02	0.09	0.04	0.05	0.03	0.01
Depreciation	0.02	0.00	0.03	0.03	0.00	0.04	0.02	0.01	0.00	0.00
Profit Before Tax	0.20	0.28	0.23	0.33	0.09	0.26	0.13	0.42	0.12	0.14
Tax %	25.00	21.43	52.17	36.36	22.22	23.08	15.38	30.95	16.67	28.57
Net Profit	0.15	0.22	0.11	0.21	0.07	0.20	0.11	0.30	0.10	0.11
EPS in Rs	0.07	0.15	0.07	0.14	0.05	0.13	0.08	0.20	0.07	0.07

Standalone Profit Loss (in ₹ Crores)

Total Figures

YoY Changes

Total Figures

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	TTM
Sales	23	39	62	55	68	88	103	104	113	115
Expenses	23	39	62	55	68	87	101	102	112	114
Operating Profit	0.21	0.29	0.13	0.29	0.40	0.47	1.97	1.62	1.07	1.13
OPM %	0.92	0.76	0.21	0.53	0.59	0.53	1.92	1.56	0.95	0.98
Other Income	0.10	0.05	0.09	0.09	0.04	1.21	0.00	0.02	0.10	NaN
Interest	0.06	0.08	0.12	0.07	0.09	0.51	0.85	0.52	0.20	0.21
Depreciation	0.01	0.01	0.01	0.01	0.01	0.02	0.07	0.08	0.07	0.07
Profit Before Tax	0.24	0.25	0.09	0.30	0.34	1.15	1.05	1.04	0.90	0.93
Tax %	29.94	26.71	25.32	24.18	23.10	23.94	24.34	25.53	24.99	23.66
Net Profit	0.17	0.19	0.07	0.23	0.26	0.88	0.80	0.78	0.68	0.71
EPS in Rs	—	—	—	—	0.61	0.78	0.53	0.43	0.46	0.42
Dividend Payout %	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	—

Standalone Balance Sheet (in ₹ Crores)

Total Figures

YoY Changes

Total Figures

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Equity Capital	0.56	4.85	6.81	8.72	10	10	10	10	15	15
Reserves	2.26	1.57	3.72	5.87	4.79	5.03	5.90	6.70	8.47	9.15
Borrowings	1.63	0.00	2.78	3.03	0.00	7.37	13	8.81	1.68	1.24
Other Liabilities	0.46	0.82	1.18	0.37	0.31	0.19	0.59	0.73	0.56	0.67
Total Liabilities	4.91	7.24	14	18	15	23	30	26	26	26
Fixed Assets	0.07	0.07	0.17	0.16	0.17	0.25	0.32	1.08	1.06	1.04
CWIP	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Investments	0.00	0.00	1.65	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Other Assets	4.84	7.16	13	18	15	22	30	25	25	25
Total Assets	4.91	7.24	14	18	15	23	30	26	26	26

Standalone Cash Flows (in ₹ Crores)

Total Figures

YoY Changes

Total Figures

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Cash from Operating Activity	-0.70	0.87	-4.45	-6.05	0.24	-0.05	0.60	1.59	6.84	-6.65
Cash from Investing Activity	-0.02	-0.01	-2.06	1.60	0.00	-0.14	-0.60	-1.61	-0.02	-0.14
Cash from Financing Activity	0.89	0.88	6.64	4.16	0.00	-0.02	-0.01	0.00	-0.02	0.00
Net Cash Flow	0.17	1.74	0.12	-0.29	0.24	-0.20	-0.01	-0.02	6.81	-6.79

Peers

Symbol	Price	Market Cap	P/E	P/B	Div Yield (%)	ROE (%)	ROCE (%)	ROA (%)
AJCJEWEL	85.00	52 Cr	17.92	1.72	0.00	13.74	12.07	5.95
MANOJJEWEL	50.94	46 Cr	9.61	1.49	0.00	22.99	30.65	18.28
ZODJRDMKJ	40.75	45 Cr	72.77	0.49	0.00	0.67	1.26	0.65
BGJL	28.50	43 Cr	69.61	1.76	0.00	2.54	3.73	2.32
UHZAVERI	13.66	42 Cr	683.00	1.05	0.00	0.30	0.26	0.21
EIGHTY	36.25	37 Cr	19.92	1.36	0.00	12.49	12.30	5.85
KANANIIND	1.79	35 Cr	16.27	0.53	0.00	3.15	3.37	2.21

Oscillators

BearishNeutralBullish

Neutral

Bearish

Neutral

Bullish

Overall

BearishNeutralBullish

Bullish

Bearish

Neutral

Bullish

Moving Averages

BearishNeutralBullish

Bullish

Bearish

Neutral

Bullish

Overall

BearishNeutralBullish

Bullish

Bearish

Neutral

Bullish

Overview

Detailed Summary

Bhakti Gems & Jewellery Limited is a manufacturer, wholesaler, and supplier of gold jewellery, headquartered in Ahmedabad, Gujarat. It focuses on traditional Indian designs.

The company outsources manufacturing to job workers in Ahmedabad and Mumbai, ensuring a broad distribution network.

Products include handmade gold jewellery with stones like diamond, ruby, and cubic zirconia, catering to diverse consumer tastes.

Established as a private limited company in 2010, Bhakti transitioned to a public entity in 2017, with successful IPO fundraising.

Their procurement strategy involves sourcing gold and silver from both the bullion market and local Ahmedabad markets.

Sector

Diamond, Gems and Jewellery

Industry

Diamond Cutting / Jewellery - Medium / Small

Market Cap

43 Cr

Volatility

Low Risk

P/E Ratio

69.6

Industry P/E

22.8

PEG Ratio

—

P/B Ratio

1.8

52W High

30.00

52W Low

10.51

Sales CAGR

8.65%

8.79%

15.47%

10Y

21.70%

Profit CAGR

-12.82%

-8.22%

24.43%

10Y

56.21%

ROE

TTM

2.54%

3.50%

3.56%

10Y

2.80%

ROCE

TTM

3.73%

7.09%

6.98%

10Y

5.42%