Royal India Corporation (BSE: ROYALIND) had a P/E of 1.3× on 6 Nov 2026, below the industry P/E of 19.6×, and the shares are 32% below their 52-week high. Its ROCE of 51% is the highest among the 7 largest Luxury Goods peers, and sales grew 7.5% a year over 3 years, though net profit is above operating profit, which points to a one-off gain. The company has almost no debt. It is a small-cap company with a market cap of ₹64 Cr, ranked 56th of 82 Luxury Goods companies by market cap; the shares fell 26% over the past year.
- ₹5.74
- ₹5.74
- ₹5.28
- ₹5.58
- 91.8K
Health check
- ReturnsBehind
−26.2% over a year, better than 0 of 7 peers.
- Price tagDistorted
A one-off gain inflates profit, so P/E isn’t comparable right now.
- GrowthSlow
Sales +7.5% a year over 3 years.
- ProfitabilityStrong
ROCE 51.4% vs peer median 34.2%.
- Balance sheetSolid
Debt 0.08× equity, interest covered 137.2×, Piotroski 6 of 9.
- Red flags4 to check
Quarterly profit down 39.1% on a year ago.
Small cap
Market sensitivity
Key metrics
- Market cap
- ₹64 Cr
- Small cap
- P/E
- 1.3
- Industry 19.6
- Price to book
- 0.47
- Peers 8.57
- Dividend yield
- 0.00%
- ROE
- 49.0%
- Peers 29.3%
- ROCE
- 51.4%
- Peers 34.2%
- Debt to equity
- 0.08
- Debt ₹12 Cr
- EPS (TTM)
- ₹4.31
- OPM (TTM)
- 46.0%
- Net margin 59.8%
- Sales growth
- −91.3%
- Latest quarter vs a year ago
- Profit growth
- −39.1%
- Latest quarter vs a year ago
- Price to sales
- 0.74
- EV/EBITDA 1.0
Strengths and risks
Strengths
- Return on equity of 49.0%.
- Return on capital employed of 51.4%.
- Practically debt-free.
Risks to check
- Quarterly profit down 39.1% on a year ago.
- Quarterly sales down 91.3% on a year ago.
- Net profit is above operating profit, so a one-off gain is likely flattering earnings.
- 32% below its 52-week high.
About Royal India Corporation
Royal India Corporation Limited engages in the wholesale trading of gold bullion, plain gold jewelry, gold coins, and medallions in India. It is also involved in the sales of 23k 995 and 999 purity Indian made gold coins in round and rectangular shapes; and defence business. The company was formerly known as Natraj Financial & Services Limited and changed its name to Royal India Corporation Limited in October 2006. Royal India Corporation Limited was…
- Headquarters
- Mumbai
- Employees
- 7
- Sector
- Consumer Cyclical
- ISIN
- INE510H01015
- Website
- ricl.in
Price range
- Avg volume (3M)
- 1 L
- 1-year return
- minus 26.2%
- From 52-week high
- minus 32.0%
Peers · Luxury Goods
| Company | ||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| TITANTitan Company | 5,000.00 | plus 3.42% | 4,43,656 | 63.1 | 24.30 | 38.4% | 37.1% | 11.6% | 29.2% | 16.0% | 0.30% | plus 26.8% |
| KALYANKJILKalyan Jewellers India | 590.75 | plus 5.49% | 61,010 | 42.6 | 9.66 | 26.7% | 24.3% | 6.7% | 36.4% | 46.1% | 0.42% | plus 7.2% |
| LALITHAALalithaa Jewellery Mart | 373.50 | plus 0.50% | 20,905 | 21.9 | 6.37 | 46.1% | 41.6% | 5.7% | 23.4% | 61.8% | 0.00% | plus 50.3% |
| PCJEWELLERPC Jeweller | 15.77 | plus 1.35% | 15,467 | 17.1 | 1.65 | 10.3% | 10.8% | 24.6% | 10.7% | – | 0.00% | plus 29.0% |
| SKYGOLDSKY GOLD AND DIAMONDS | 951.95 | plus 0.31% | 14,743 | 37.3 | 10.49 | 35.9% | 33.0% | 7.5% | 76.0% | 145.4% | 0.00% | plus 164.3% |
| THANGAMAYLThangamayil Jewellery | 4,148.20 | minus 4.32% | 12,893 | 32.9 | 8.57 | 34.2% | 29.3% | 6.5% | 39.2% | 64.0% | 0.43% | plus 42.6% |
| BLUESTONEBlueStone Jewellery and Lifestyle | 710.85 | minus 2.09% | 10,867 | 102.6 | 5.92 | 7.7% | 5.8% | 17.0% | 46.8% | – | 0.00% | plus 2.0% |
| ROYALINDRoyal India Corporation | 5.39 | minus 3.41% | 64 | 1.3 | 0.47 | 51.4% | 49.0% | 46.0% | 7.5% | – | 0.00% | minus 26.2% |
| Median of 7 peers | – | 0.50% | 15,467 | 37.3 | 8.57 | 34.2% | 29.3% | 7.5% | 36.4% | 61.8% | 0.00% | 29.0% |
Quarterly results
| ₹ Cr | Mar 25 | Jun 25 | Sep 25 | Dec 25 | Mar 26 | Jun 26 |
|---|---|---|---|---|---|---|
| – | 41.7 | 4.4 | – | 0.5 | 3.6 | |
| – | 38.1 | 3.7 | – | 3.6 | 2.7 | |
| – | 3.6 | 0.7 | −0.5 | −3.1 | 1 | |
| – | 8.5% | 16.7% | – | −632.2% | 26.7% | |
| – | 1.1 | 1.1 | 1.1 | 74.3 | 1.4 | |
| −4.8 | 1.4 | 0.2 | 0.2 | – | 0.4 | |
| – | 0 | 0 | 0 | 0.1 | 0.1 | |
| −0.2 | – | – | – | – | – | |
| – | 3.2 | 1.6 | 0.4 | 71.1 | 1.9 | |
| – | – | – | – | 34.3% | – | |
| – | 3.2 | 1.6 | 0.4 | 46.7 | 2 | |
| – | 0.30 | 0.13 | 0.04 | 3.98 | 0.16 |
Profit & loss
- Sales CAGR 3Y
- +7.5%
- ROE
- 49.0%
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| 37.5 | 28.8 | 220 | 46.6 | |
| – | minus 23.1% | +662.9% | minus 78.8% | |
| 34.8 | 31.3 | 207 | 43.6 | |
| 2.7 | −2.4 | 12.9 | 2.9 | |
| 7.3% | −8.5% | 5.9% | 6.3% | |
| 1.3 | −0 | 2.7 | 76.5 | |
| 10.8 | 6.6 | 3.9 | 0.6 | |
| 0 | 0 | 0 | 0.1 | |
| −0 | −0 | −0.2 | −2.2 | |
| −6.8 | −9.1 | 11.5 | 76.5 | |
| 45.4% | 9.0% | 5.7% | 31.9% | |
| −3.7 | −8.2 | 10.8 | 52.4 | |
| -1.61 | -3.57 | 0.99 | 4.44 |
Forecast
Balance sheet
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| 23.1 | 23.1 | 109 | 118 | |
| −36.7 | −44.9 | −32 | 18.3 | |
| 137 | 132 | 101 | 11.8 | |
| 40.9 | 41.3 | 46.6 | 53 | |
| 165 | 152 | 225 | 201 | |
| 0.2 | 0.2 | 0.2 | 2.3 | |
| – | – | – | 1.5 | |
| 0.1 | 0 | 0 | 0.1 | |
| 1.1 | 1.1 | 1.2 | 1.5 | |
| 163 | 150 | 224 | 196 | |
| 165 | 152 | 225 | 201 |
Cash flow
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| −1.5 | −2 | −23.4 | 102 | |
| −12.4 | 7 | −34 | −17.5 | |
| 13.6 | −5 | 57.4 | −83 | |
| −0.3 | 0 | 0 | 1.5 | |
| −0.2 | −0 | −0 | −1.1 | |
| −1.7 | −2 | −23.4 | 101 |
Shareholding pattern
This company is listed only on BSE, so there’s no NSE category split. See Major shareholders below for the named holders.
Major shareholders
Filings & events
News
No recent news coverage found.