---
title: "Gitanjali Gems Ltd (GITANJALI) — Share Price, Financials & Analysis"
symbol: "GITANJALI"
company: "Gitanjali Gems Ltd"
canonical: "https://tapetide.com/stocks/GITANJALI"
isin: "INE346H01014"
nse_symbol: "GITANJALI"
bse_code: "532715"
sector: "Consumer Discretionary"
industry: "Consumer Durables"
generated_at: "2026-09-13T20:00:53.630Z"
---

# Gitanjali Gems Ltd (GITANJALI)

Canonical page: https://tapetide.com/stocks/GITANJALI

## Company

- **NSE Symbol:** GITANJALI
- **BSE Code:** 532715
- **ISIN:** INE346H01014
- **Sector:** Consumer Discretionary
- **Industry:** Consumer Durables
- **Macro Sector:** Consumer Discretionary
- **Stock Type:** EQUITY
- **Listed Since:** 2006-03-10
- **Face Value:** ₹10
- **F&O Eligible:** No
- **Website:** gitanjaligroup.com

## About

Gitanjali Gems Ltd. is engaged in the trading, manufacturing, import and export of diamond cutting and polishing, diamond studded jewelry and plain gold jewelry.

## Latest Price

## Key Insights

### Strengths

- Stock is trading at 0.00 times its book value

### Weaknesses

- Company has low interest coverage ratio.
- The company has delivered a poor sales growth of 5.80% over past five years.
- Tax rate seems low
- Company has a low return on equity of 2.73% over last 3 years.
- Contingent liabilities of Rs.751 Cr.
- Earnings include an other income of Rs.319 Cr.
- Company has high debtors of 283 days.

## Growth Rates

| Metric | 1Y | 3Y | 5Y |
| --- | --- | --- | --- |
| net income growth | 27% | 70% | -19% |
| revenue growth | 19% | 10% | 6% |

## Financial Statements

### Quarterly Results

All figures in ₹ crore unless the row name says otherwise.

| Item | Dec 2014 | Mar 2015 | Jun 2015 | Sep 2015 | Dec 2015 | Mar 2016 | Jun 2016 | Sep 2016 | Dec 2016 | Mar 2017 | Jun 2017 | Sep 2017 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Sales | 3450 | 3487 | 2845 | 3457 | 3400 | 4283 | 3710 | 3965 | 3353 | 5545 | 5611 | 3789 |
| Expenses | 3229 | 3208 | 2716 | 3244 | 3168 | 4104 | 3571 | 3763 | 3125 | 5442 | 5431 | 3666 |
| Operating Profit | 220 | 280 | 129 | 213 | 232 | 179 | 140 | 201 | 228 | 103 | 180 | 123 |
| OPM % | 6 | 8 | 4.5 | 6 | 7 | 4.2 | 3.8 | 5 | 7 | 1.9 | 3.2 | 3.2 |
| Other Income | 155 | -101 | 109 | 21 | -3 | 30 | 75 | 33 | 27 | 123 | 55 | 113 |
| Interest | 270 | 204 | 208 | 189 | 137 | 197 | 146 | 171 | 178 | 198 | 160 | 140 |
| Depreciation | 9 | 20 | 19 | 20 | 18 | 24 | 17 | 18 | 20 | 20 | 8 | 27 |
| Profit before tax | 96 | -45 | 12 | 25 | 73 | -12 | 51 | 45 | 57 | 8 | 68 | 69 |
| Tax % | -1 | -16 | -25 | -20 | 3 | -19 | -12 | 0 | -3 | 32 | -2 | 8 |
| Net Profit | 97 | -40 | 14 | 30 | 70 | -9 | 57 | 46 | 59 | 6 | 69 | 64 |
| EPS in Rs | 9.79 | -2.96 | 2.03 | 3.22 | 7.37 | -2.27 | 5.24 | 3.84 | 4.86 | 0.47 | 5.86 | 5.38 |

### Profit & Loss

All figures in ₹ crore unless the row name says otherwise.

| Item | Mar 2009 | Mar 2010 | Mar 2011 | Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | TTM |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Sales | 5089 | 6527 | 9377 | 12498 | 16418 | 12436 | 11481 | 13984 | 16571 | 18297 |
| Expenses | 4762 | 6043 | 8787 | 11622 | 15225 | 11573 | 10401 | 13208 | 15872 | 17664 |
| Operating Profit | 327 | 484 | 590 | 876 | 1194 | 863 | 1080 | 776 | 699 | 633 |
| OPM % | 6 | 7 | 6 | 7 | 7 | 7 | 9 | 6 | 4.2 | 3.5 |
| Other Income | 3 | 3 | 104 | 83 | 10 | 9 | 29 | 175 | 259 | 319 |
| Interest | 137 | 218 | 254 | 406 | 546 | 797 | 973 | 772 | 721 | 676 |
| Depreciation | 34 | 45 | 56 | 29 | 37 | 38 | 47 | 81 | 75 | 74 |
| Profit before tax | 158 | 225 | 383 | 524 | 621 | 36 | 88 | 98 | 161 | 202 |
| Tax % | 2 | 10 | 7 | 6 | 4 | 1 | -1 | -8 | -3 | — |
| Net Profit | 155 | 202 | 357 | 490 | 595 | 36 | 87 | 105 | 167 | 198 |
| EPS in Rs | 17.7 | — | 41.81 | 53.47 | 64.27 | 3.64 | 9.73 | 10.12 | 14.14 | 16.57 |
| Dividend Payout % | 10 | 8 | 7 | 6 | 5 | 0 | 0 | 5 | 6 | — |

### Balance Sheet

All figures in ₹ crore unless the row name says otherwise.

| Item | Mar 2009 | Mar 2010 | Mar 2011 | Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Sep 2017 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Equity Capital | 85 | 84 | 85 | 91 | 92 | 92 | 98 | 102 | 119 | 119 |
| Reserves | 1992 | 2112 | 2445 | 3019 | 3676 | 3852 | 4061 | 6223 | 6444 | 6603 |
| Borrowings | 2047 | 2595 | 3127 | 3944 | 5239 | 8484 | 8819 | 8361 | 8254 | 7185 |
| Other Liabilities | 1769 | 1624 | 2449 | 3637 | 4911 | 2266 | 3746 | 6288 | 8722 | 9969 |
| Total Liabilities | 5893 | 6416 | 8107 | 10690 | 13919 | 14694 | 16724 | 20975 | 23539 | 23876 |
| Fixed Assets | 307 | 309 | 275 | 243 | 283 | 327 | 363 | 2520 | 2528 | 2288 |
| CWIP | 53 | 63 | 95 | 96 | 88 | 81 | 81 | 81 | 40 | 40 |
| Investments | 33 | 36 | 43 | 58 | 102 | 86 | 84 | 49 | 62 | 78 |
| Other Assets | 5500 | 6008 | 7693 | 10292 | 13445 | 14200 | 16196 | 18325 | 20909 | 21470 |
| Total Assets | 5893 | 6416 | 8107 | 10690 | 13919 | 14694 | 16724 | 20975 | 23539 | 23876 |

### Cash Flow

All figures in ₹ crore unless the row name says otherwise.

| Item | Mar 2008 | Mar 2009 | Mar 2010 | Mar 2011 | Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Cash from Operating Activity | 102 | -636 | 137 | 526 | 368 | -16 | -2966 | 463 | 1338 | — |
| Cash from Investing Activity | -206 | -133 | -24 | -58 | -7 | -107 | -34 | -90 | -31 | — |
| Cash from Financing Activity | 609 | -57 | -172 | -267 | -149 | 441 | 2385 | -468 | -1330 | — |
| Net Cash Flow | 506 | -826 | -59 | 201 | 212 | 318 | -615 | -95 | -23 | — |
| Free Cash Flow | 36 | -664 | 122 | 472 | 361 | -87 | -3000 | 458 | 1282 | — |
| CFO/OP | 47 | -191 | 33 | 94 | 50 | 5 | -342 | 45 | 177 | — |

### Ratios

| Item | Mar 2008 | Mar 2009 | Mar 2010 | Mar 2011 | Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Debtor Days | 172 | 198 | 181 | 156 | 157 | 160 | 278 | 315 | 301 | 283 |
| Inventory Days | 112 | 175 | 141 | 132 | 126 | 112 | 122 | 194 | 163 | 173 |
| Days Payable | 148 | 129 | 88 | 100 | 113 | 112 | 58 | 123 | 164 | 199 |
| Cash Conversion Cycle | 137 | 244 | 234 | 188 | 171 | 160 | 343 | 386 | 300 | 257 |
| Working Capital Days | 162 | 247 | 234 | 65 | 71 | 56 | 106 | 124 | 107 | 86 |
| ROCE % | 9 | 8 | 10 | 12 | 14 | 14 | 8 | 9 | 6 | 6 |

## Shareholding Pattern

### annual

| Category | Mar 2017 | Dec 2017 |
| --- | --- | --- |
| Promoters | 31.04% | 27.76% |
| FIIs | 8.17% | 10.23% |
| DIIs | 4.18% | 5.36% |
| Public | 56.6% | 56.65% |
| No. of Shareholders | 69844 | 80991 |

### Quarterly

| Category | Jun 2016 | Sep 2016 | Dec 2016 | Mar 2017 | Jun 2017 | Sep 2017 | Dec 2017 |
| --- | --- | --- | --- | --- | --- | --- | --- |
| Promoters | 32.88% | 30.28% | 30.99% | 31.04% | 31.04% | 31.04% | 27.76% |
| FIIs | 3.33% | 0.45% | 5.59% | 8.17% | 8.36% | 8.05% | 10.23% |
| DIIs | 4.47% | 6.12% | 4.21% | 4.18% | 4.1% | 4.1% | 5.36% |
| Public | 59.31% | 63.16% | 59.21% | 56.6% | 56.5% | 56.81% | 56.65% |
| No. of Shareholders | 71977 | 68752 | 72178 | 69844 | 68590 | 67608 | 80991 |

## Technical Indicators

Derived from daily closing prices and recomputed each trading session; values move with the market.

- **Overall Signal:** Neutral
- **Buy / Neutral / Sell:** 7 / 5 / 7

### Moving Averages — summary: **Neutral**

| Indicator | Value | Signal |
| --- | --- | --- |
| SMA (10) | 185.26 | Sell |
| EMA (10) | 186.62 | Sell |
| SMA (20) | 191.66 | Sell |
| EMA (20) | 188.12 | Sell |
| SMA (50) | 181.56 | Buy |
| EMA (50) | 182.34 | Sell |
| SMA (100) | 167.26 | Buy |
| EMA (100) | 174.73 | Buy |
| SMA (200) | 169.18 | Buy |
| EMA (200) | 169.04 | Buy |

### Oscillators — summary: **Neutral**

| Indicator | Value | Signal |
| --- | --- | --- |
| RSI (14) | 45.82 | Neutral |
| MACD (12,26,9) | -0.44 | Sell |
| Stochastic (14,3,3) | 56.17 | Neutral |
| ADX (14) | 29.32 | Buy |
| Williams %R (14) | -60.3 | Neutral |
| ATR (14) | 11.01 | High Volatility |
| ROC (12) | -6.75 | Sell |
| Stoch RSI (14) | 18.19 | Buy |
| UO (7,14,28) | 61.23 | Neutral |

## Filings & Documents

### Exchange Filings & Announcements

| Date | Document |
| --- | --- |
| 2024-02-19 | [Corporate Insolvency Resolution Process (CIRP)-Liquidation - Corporate Insolvency Resolution Process (CIRP)](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=21dcedca-037d-42c3-871e-d44cbe6bd513.pdf) |
| 2021-11-18 | [Disclosures under Reg. 29(2) of SEBI (SAST) Regulations, 2011](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=A2F08CA7_3F31_49A5_BB25_B0F87691C74C_142926.pdf) |
| 2021-11-18 | [Disclosures under Reg. 29(2) of SEBI (SAST) Regulations, 2011](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=DD9D58D5_FB8C_4D63_B05F_D483A301495F_143056.pdf) |
| 2021-11-18 | [Disclosures under Reg. 29(2) of SEBI (SAST) Regulations, 2011](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=EFA7E45F_9D3F_443A_994C_F8B9ADA41F97_143307.pdf) |
| 2021-11-18 | [Disclosures under Reg. 29(2) of SEBI (SAST) Regulations, 2011](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=520D0928_D2A7_49EE_B421_03720B01DF6F_143503.pdf) |
| 2021-11-18 | [Disclosures under Reg. 29(2) of SEBI (SAST) Regulations, 2011](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=CB4EE6EF_5C9B_40C7_A578_AF78DDCA98D8_143644.pdf) |
| 2021-11-18 | [Disclosures under Reg. 29(2) of SEBI (SAST) Regulations, 2011](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=CE414124_BECD_49B3_AABF_9D0200F6CF9E_143829.pdf) |
| 2021-03-17 | [Disclosures under Reg. 29(2) of SEBI (SAST) Regulations, 2011](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=D4D115EF_CB2B_497F_B100_1A290A68E432_113621.pdf) |
| 2020-07-13 | [Status of CIRP](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=8BD399DF-138D-4533-B6FF-752E4E41FD0C-085119.pdf) |

### Other Documents

| Date | Document |
| --- | --- |
| 19 Feb 2024 - Gitanjali Gems Limited ordered for liquidation under IBC. | [Corporate Insolvency Resolution Process (CIRP)-Liquidation - Corporate Insolvency Resolution Process (CIRP) 19 Feb 2024 - Gitanjali Gems Limited ordered for liquidation under IBC.](https://www.bseindia.com/xml-data/corpfiling/AttachHis/21dcedca-037d-42c3-871e-d44cbe6bd513.pdf) |
| — | [Disclosures under Reg. 29(2) of SEBI (SAST) Regulations, 2011 18 Nov 2021](https://www.bseindia.com/xml-data/corpfiling/AttachHis/EFA7E45F_9D3F_443A_994C_F8B9ADA41F97_143307.pdf) |
| — | [Disclosures under Reg. 29(2) of SEBI (SAST) Regulations, 2011 18 Nov 2021](https://www.bseindia.com/xml-data/corpfiling/AttachHis/520D0928_D2A7_49EE_B421_03720B01DF6F_143503.pdf) |
| — | [Disclosures under Reg. 29(2) of SEBI (SAST) Regulations, 2011 18 Nov 2021](https://www.bseindia.com/xml-data/corpfiling/AttachHis/CB4EE6EF_5C9B_40C7_A578_AF78DDCA98D8_143644.pdf) |
| — | [Disclosures under Reg. 29(2) of SEBI (SAST) Regulations, 2011 18 Nov 2021](https://www.bseindia.com/xml-data/corpfiling/AttachHis/CE414124_BECD_49B3_AABF_9D0200F6CF9E_143829.pdf) |

### Annual Reports

| Date | Document |
| --- | --- |
| from nse | [Annual Report 2012 from nse](https://archives.nseindia.com/annual_reports/AR_GITANJALI_2011_2012_17092012101958.zip) |
| from nse | [Annual Report 2010 from nse](https://archives.nseindia.com/annual_reports/AR_GITANJALI_2009_2010_03092010120000.zip) |
| from bse | [Annual Report 2017 from bse](https://www.bseindia.com/bseplus/AnnualReport/532715/5327150317.pdf) |
| from bse | [Annual Report 2016 from bse](https://www.bseindia.com/bseplus/AnnualReport/532715/5327150316.pdf) |
| from bse | [Annual Report 2015 from bse](https://www.bseindia.com/bseplus/AnnualReport/532715/5327150315.pdf) |
| from bse | [Annual Report 2014 from bse](https://www.bseindia.com/bseplus/AnnualReport/532715/5327150314.pdf) |
| from bse | [Annual Report 2013 from bse](https://www.bseindia.com/bseplus/AnnualReport/532715/5327150313.pdf) |
| from bse | [Annual Report 2012 from bse](https://www.bseindia.com/bseplus/AnnualReport/532715/5327150312.pdf) |
| from bse | [Annual Report 2011 from bse](https://www.bseindia.com/bseplus/AnnualReport/532715/5327150311.pdf) |
| from bse | [Annual Report 2010 from bse](https://www.bseindia.com/bseplus/AnnualReport/532715/5327150310.pdf) |

---

Provenance differs by section. Financial statements, shareholding and filings are as reported in company disclosures to NSE/BSE/SEBI. Price, volume and 52-week levels are exchange market data. Technical indicators are computed by Tapetide from daily closing prices. The Tapetide Score is Tapetide's own analysis. Analyst ratings are third-party estimates, not company statements. All figures are for research and information only and are not investment advice. Generated 2026-09-13T20:00:53.630Z.