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As of 6 Nov 2026, Minal Industries trades at 84.5× trailing earnings, above the industry P/E of 19.6×, and the shares are 43% below their 52-week high. It earns ROCE of 1.4% and ROE of −0.2%, and sales grew 17% a year over 3 years. The company has almost no debt. It is a small-cap company with a market cap of ₹65 Cr, ranked 55th of 82 Luxury Goods companies by market cap; the shares rose 63% over the past year.

As of 6 Nov 2026Prices are delayed about 15 minutes; fundamentals are from the quarter ended Jun 2026.How we calculate this

past year
Open
₹3.55
Day high
₹3.55
Day low
₹3.23
Prev. close
₹3.39
Volume
2.2 L

Health check

2 good · 4 to check
  • ReturnsAhead

    +62.5% over a year, better than 6 of 7 peers.

  • Price tagPricier

    P/E 84.5 vs industry 19.6.

  • GrowthSlow

    Sales +16.9% a year over 3 years.

  • ProfitabilityWeak

    ROCE 1.4% vs peer median 34.2%.

  • Balance sheetSolid

    Debt 0.10× equity, interest covered 38.0×.

  • Red flags3 to check

    Return on equity is low at −0.2%.

Compared with 7 industry peers. Computed from reported figures. Educational, not a recommendation.

Luxury Goods

81 listed peers. Screen the industry

Small cap

₹65 Cr, #55 of 82 in its industry by size.

Defensive

Beta 0.30 vs the NIFTY 50: moves less than the market.

Key metrics

Last 12 months to Jun 2026: sales ₹46 Cr · profit ₹0 Cr
Market cap
₹65 Cr
Small cap
P/E
84.5
Industry 19.6
Price to book
1.22
Peers 8.57
Dividend yield
0.00%
ROE
−0.2%
Peers 29.3%
ROCE
1.4%
Peers 34.2%
Debt to equity
0.10
Debt ₹6.32 Cr
EPS (TTM)
₹0.04
Face value ₹2
OPM (TTM)
1.2%
Net margin 0.8%
Sales growth
+30.6%
Latest quarter vs a year ago
Profit growth
+90.0%
Latest quarter vs a year ago
Price to sales
1.41
EV/EBITDA 65.7

Strengths and risks

Strengths

  • Practically debt-free.
  • Quarterly profit up 90.0% on a year ago.
  • Quarterly sales up 30.6% on a year ago.

Risks to check

  • Return on equity is low at −0.2%.
  • P/E of 84.5 against an industry P/E of 19.6.
  • 43% below its 52-week high.

Derived automatically from reported figures. Not a recommendation.

About Minal Industries

Minal Industries Limited operates as a diamantaire, and jewelry and engineering company worldwide. The company is involved in the manufacture and export of diamond studded gold and silver jewelry. It also provides dropshipping and custom jewelry design services. Minal Industries Limited was incorporated in 1988 and is based in Mumbai, India.

Headquarters
Mumbai
Sector
Consumer Cyclical
ISIN
INE097E01028
Website
minalindustrieslimited.in

Price range

52 weeks

₹1.71₹5.89

Today

₹3.23₹3.55
Avg volume (3M)
68.6K
1-year return
plus 62.5%
From 52-week high
minus 42.6%

Peers · Luxury Goods

Compare with peersScreen the whole industry
Company
TITANTitan Company5,000.00plus 3.42%4,43,65663.124.3038.4%37.1%11.6%29.2%16.0%0.30%plus 26.8%
KALYANKJILKalyan Jewellers India590.75plus 5.49%61,01042.69.6626.7%24.3%6.7%36.4%46.1%0.42%plus 7.2%
LALITHAALalithaa Jewellery Mart373.50plus 0.50%20,90521.96.3746.1%41.6%5.7%23.4%61.8%0.00%plus 50.3%
PCJEWELLERPC Jeweller15.77plus 1.35%15,46717.11.6510.3%10.8%24.6%10.7%–0.00%plus 29.0%
SKYGOLDSKY GOLD AND DIAMONDS951.95plus 0.31%14,74337.310.4935.9%33.0%7.5%76.0%145.4%0.00%plus 164.3%
THANGAMAYLThangamayil Jewellery4,148.20minus 4.32%12,89332.98.5734.2%29.3%6.5%39.2%64.0%0.43%plus 42.6%
BLUESTONEBlueStone Jewellery and Lifestyle710.85minus 2.09%10,867102.65.927.7%5.8%17.0%46.8%–0.00%plus 2.0%
MINALINDMinal Industries3.38minus 0.29%6584.51.22–1.4%1.2%16.9%–0.00%plus 62.5%
Median of 7 peers–0.50%15,46737.38.5734.2%29.3%7.5%36.4%61.8%0.00%29.0%

Quarterly results

Consolidated, ₹ crore
SalesSelect a row below to chart it
₹ CrJun 25Sep 25Dec 25Mar 26Jun 26
108.98.715.213.1
9.310.19.914.311.1
0.7−1.2−1.20.92
7.4%−13.2%−13.5%5.8%15.5%
0.20.60.31.20.4
0–000
0.10.10.10.10.1
0.8−0.7−11.92.3
11.1%2.1%–15.5%−4.3%
0.5−0.4−10.41
0.04-0.04-0.050.020.12

Profit & loss

Yearly, ₹ crore
Sales CAGR 3Y
+16.9%
ROE
−0.2%
Net profitSelect a row below to chart it
₹ CrMar 2023Mar 2024Mar 2025Mar 2026
26.837.851.142.8
–+41.2%+35.1%minus 16.2%
2740.850.242.6
−0.2−310.3
−0.9%−7.9%1.9%0.6%
2.30.90.31.3
1.70.10.10
0.70.50.50.6
–13.6–
−0.3−1.74.21
−5.9%−23.3%−0.6%38.1%
0.3−2.81.5−0.1
–minus 1000.1%–minus 106.8%
0.02-0.150.08-0.01

Forecast

Your assumptions, not a prediction

Balance sheet

At each financial year end, ₹ crore
Total assetsSelect a row below to chart it
₹ CrMar 2023Mar 2024Mar 2025Mar 2026
38.438.438.438.4
16.415.114.914.8
11.813.28.26.3
17.724.523.728.2
84.391.185.287.7
4.23.73.63.5
432.72.7
0.50.30.96.3
75.684.277.975.2
84.391.185.287.7

Cash flow

Yearly, ₹ crore
Cash from operationsSelect a row below to chart it
₹ CrMar 2023Mar 2024Mar 2025Mar 2026
−2.4−147.4
1.30.70.1−1.5
10.2−3.6−2
−0.1−0.20.64
−0.4−0.2−0.5−0.4
−2.8−1.23.67

Shareholding pattern

Source: NSE filings

NSE hasn’t returned a shareholding pattern for this company.

Major shareholders

NSE filing

Filings & events

News

No recent news coverage found.

My notes

Private to you