As of 6 Nov 2026, Shanti Gold International trades at 9.6× trailing earnings, below the industry P/E of 19.6×, and the shares are 38% below their 52-week high. Sales and net profit grew 44% and 92% a year over 3 years, with ROCE of 33% and ROE of 38%. Debt is 0.36× equity. It is a small-cap company with a market cap of ₹2,088 Cr, ranked 19th of 82 Luxury Goods companies by market cap; the shares rose 15% over the past year.
- ₹275.00
- ₹279.90
- ₹267.00
- ₹277.00
- 13.2 L
Health check
- ReturnsBehind
+14.7% over a year, better than 2 of 7 peers.
- Price tagCheaper
P/E 9.6 vs industry 19.6.
- GrowthStrong
Sales +43.8%, profit +91.9% a year over 3 years.
- ProfitabilityAverage
ROCE 32.6% vs peer median 34.2%.
- Balance sheetSolid
Debt 0.36× equity, interest covered 11.2×, Piotroski 6 of 9.
- Red flags2 to check
38% below its 52-week high.
Small cap
Market sensitivity
Key metrics
- Market cap
- ₹2,088 Cr
- Small cap
- P/E
- 9.6
- Industry 19.6
- Price to book
- 3.28
- Peers 8.57
- Dividend yield
- 0.00%
- ROE
- 38.1%
- Peers 29.3%
- ROCE
- 32.6%
- Peers 34.2%
- Debt to equity
- 0.36
- Debt ₹216 Cr
- EPS (TTM)
- ₹28.40
- Face value ₹10
- OPM (TTM)
- 10.6%
- Net margin 6.4%
- Sales growth
- +144.7%
- Latest quarter vs a year ago
- Profit growth
- +46.9%
- Latest quarter vs a year ago
- Price to sales
- 0.86
- EV/EBITDA 10.1
Strengths and risks
Strengths
- Return on equity of 38.1%.
- Return on capital employed of 32.6%.
- Quarterly profit up 46.9% on a year ago.
- Quarterly sales up 144.7% on a year ago.
- P/E of 9.6 against an industry P/E of 19.6.
Risks to check
- 38% below its 52-week high.
- Promoter stake down from 74.9% to 70.3%.
About Shanti Gold International
Shanti Gold International Limited engages in the design, development, manufacture, sale, and wholesale of gold and silver jewelry in India and internationally. The company offers bangles, rings, necklaces, chokers, harams, pendants, chand balis, jhumkas, jewelry sets, and other occasion-specific jewelry for weddings, festive, and daily-wear applications. It serves jewelry retailers and wholesalers. The company exports its products to the United Arab…
- Headquarters
- Mumbai
- Employees
- 286
- Sector
- Consumer Cyclical
- ISIN
- INE06ZD01017
- Website
- shantigold.in
Price range
- Avg volume (3M)
- 36.6 L
- 1-year return
- plus 14.7%
- From 52-week high
- minus 37.8%
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% |
| SHANTIGOLDShanti Gold International | 272.15 | minus 1.75% | 2,088 | 9.6 | 3.28 | 32.6% | 38.1% | 9.9% | 43.8% | 91.9% | 0.00% | plus 14.7% |
| 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 | Jun 25 | Sep 25 | Dec 25 | Mar 26 | Jun 26 |
|---|---|---|---|---|---|
| 293 | 430 | 637 | 659 | 716 | |
| 241 | 369 | 577 | 592 | 645 | |
| 51.4 | 60.6 | 60.2 | 67 | 71.5 | |
| 17.6% | 14.1% | 9.4% | 10.2% | 10.0% | |
| 1.2 | 2.7 | 2.6 | 3.4 | 1.7 | |
| 5.2 | 4.2 | 4.4 | 4.5 | 5.7 | |
| 1.4 | 1.4 | 1.5 | 1.7 | 2.2 | |
| 45.9 | 57.6 | 56.8 | 64.3 | 65.3 | |
| 25.1% | 24.0% | 29.3% | 19.2% | 22.6% | |
| 34.4 | 43.8 | 40.1 | 51.9 | 50.5 | |
| 4.76 | 7.30 | 6.26 | 7.86 | 7.00 |
Profit & loss
- Sales CAGR 3Y
- +43.8%
- Profit CAGR 3Y
- +91.9%
- EPS CAGR 3Y
- +97.6%
- ROE
- 38.1%
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| 679 | 711 | 1,106 | 2,019 | |
| – | +4.7% | +55.5% | +82.5% | |
| 637 | 661 | 1,016 | 1,820 | |
| 42.7 | 50 | 89.9 | 199 | |
| 6.3% | 7.0% | 8.1% | 9.9% | |
| 2.5 | 3.1 | 5.5 | 9.3 | |
| 11.9 | 13.8 | 18.7 | 18 | |
| 2.5 | 3.4 | 5.7 | 6.1 | |
| 0.1 | −0.1 | −0 | 0.2 | |
| 31 | 35.8 | 71.1 | 184 | |
| 36.0% | 25.0% | 23.9% | 24.0% | |
| 19.8 | 26.9 | 54.1 | 140 | |
| – | +35.6% | +101.4% | +159.0% | |
| 2.75 | 3.72 | 7.50 | 21.21 |
Forecast
Balance sheet
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| 9 | 9 | 54 | 72.1 | |
| 60.8 | 87.7 | 83.7 | 526 | |
| 165 | 211 | 243 | 216 | |
| 21.7 | 18.1 | 24.1 | 41.8 | |
| 257 | 325 | 405 | 856 | |
| 26.6 | 46.6 | 42.4 | 45.4 | |
| 6 | 7.8 | 8.9 | 10 | |
| 0 | 0 | 0 | 0 | |
| 11.2 | 42.9 | 14.2 | 49.2 | |
| 213 | 228 | 340 | 752 | |
| 257 | 325 | 405 | 856 |
Cash flow
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| −4.8 | −13 | −15.3 | −261 | |
| −4.5 | −5.1 | 1.3 | −16.7 | |
| 9.2 | 19.6 | 13.3 | 272 | |
| −0.1 | 1.5 | −0.8 | −5.2 | |
| −3.9 | −10.4 | −6.6 | −6.3 | |
| −8.8 | −23.4 | −21.9 | −267 |
Shareholding pattern
- Promoters70.35%
- Public29.65%
| Quarter | Split | Promoters | Public | Promoter change |
|---|---|---|---|---|
| 30 Sep 2026 | 70.35% | 29.65% | 0.00 | |
| 24 Aug 2026 | 70.35% | 29.65% | minus 4.54 | |
| 30 Jun 2026 | 74.89% | 25.11% | 0.00 | |
| 31 Mar 2026 | 74.89% | 25.11% | 0.00 | |
| 31 Dec 2025 | 74.89% | 25.11% | – |
Major shareholders
Filings & events
News
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