---
title: "Shanti Gold International Ltd (SHANTIGOLD) — Share Price, Financials & Analysis"
symbol: "SHANTIGOLD"
company: "Shanti Gold International Ltd"
canonical: "https://tapetide.com/stocks/SHANTIGOLD"
isin: "INE06ZD01017"
nse_symbol: "SHANTIGOLD"
bse_code: "544459"
sector: "Consumer Discretionary"
industry: "Consumer Durables"
market_cap_cr: 1927.85
generated_at: "2026-09-13T19:39:29.815Z"
---

# Shanti Gold International Ltd (SHANTIGOLD)

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

## Company

- **NSE Symbol:** SHANTIGOLD
- **BSE Code:** 544459
- **ISIN:** INE06ZD01017
- **Sector:** Consumer Discretionary
- **Industry:** Consumer Durables
- **Macro Sector:** Consumer Discretionary
- **Stock Type:** EQUITY
- **Listed Since:** 2025-08-01
- **Face Value:** ₹10
- **F&O Eligible:** No
- **Website:** shantigold.in

## About

Incorporated in 2003, Shanti Gold International Ltd offers a wide range of designs and products of 22KT CZ gold jewellery.[1]

## Latest Price

- **Price:** ₹258.17
- **Change:** +0.88 (+0.34%)
- **Open:** ₹256.9
- **Day High:** ₹259.75
- **Day Low:** ₹247.53
- **Previous Close:** ₹257.29
- **Volume:** 1074560
- **As Of:** 2026-09-11T10:20:50+00:00

## Key Fundamentals

Observed at 2026-09-11T04:43:47.257982Z.

- **Market Cap:** ₹1927.85 Cr
- **Classification:** Microcap
- **P/E (reported):** 14.1
- **P/E (TTM):** 10.63
- **EPS (TTM):** ₹24.29
- **Book Value:** ₹61.11
- **Price to Book:** 4.21
- **Dividend Yield:** 0%
- **ROE:** 36.65%
- **ROCE:** 49.51%
- **Debt to Equity:** 0.36
- **Revenue (yearly):** ₹2018.71 Cr
- **Net Income:** ₹142.07 Cr
- **EBITDA:** ₹199 Cr
- **52-Week High:** ₹280.75
- **52-Week Low:** ₹154.92
- **RSI (14):** 55.43

## Tapetide Score

- **Score:** 60 / 100
- **Score date:** 2026-09-04
- **Archetype:** Average Quality, Undemanding Price
- **What it means:** The financials sit mid-range rather than strong, and the multiple is not demanding. Nothing here stands out in either direction, so the read comes down to which single pillar you weight most and whether the next results move it off the middle.
- **Pillar profile:** Quality: Average · Valuation: Fair · Momentum: Rising
- **Percentile:** 87.9 (of 4473 scored stocks)
- **Confidence:** 100%
- **Data coverage:** 100%

| Pillar | Score | Weight |
| --- | --- | --- |
| financial health | 78.07 | 9% |
| growth | 98.9 | 9% |
| momentum | 79.17 | 12% |
| ownership | 66.47 | 24% |
| quality | 51.57 | 22% |
| valuation | 50.59 | 24% |

The Tapetide Score is decision-support only, not investment advice.

## Key Insights

### Strengths

- Company is expected to give good quarter
- Company has delivered good profit growth of 75.9% CAGR over last 5 years
- Company has a good return on equity (ROE) track record: 3 Years ROE 38.2%

### Weaknesses

- Though the company is reporting repeated profits, it is not paying out dividend
- Promoter holding has decreased over last quarter: -4.54%
- Company might be capitalizing the interest cost
- Working capital days have increased from 47.7 days to 89.7 days

## Growth Rates

| Metric | QoQ | 1Y | 3Y | 5Y |
| --- | --- | --- | --- | --- |
| cash flow growth | — | -17.42% | -328.57% | 44.55% |
| ebitda margin growth | 3.84% | 11.73% | 31.15% | 103.95% |
| net income growth | -2.7% | 154.61% | 92% | 76% |
| revenue growth | 8.43% | 81.46% | 44% | 40% |
| roce | — | 48.54% | 41.13% | 32.75% |
| roe | — | 31.88% | 30.94% | 122.26% |

## Financial Statements

### Quarterly Results

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

| Item | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Sales | 240 | 266 | 303 | 297 | 293 | 430 | 637 | 659 | 716 |
| Expenses | 225 | 249 | 275 | 276 | 254 | 369 | 577 | 592 | 645 |
| Operating Profit | 15 | 17 | 28 | 21 | 38 | 61 | 60 | 67 | 71 |
| OPM % | 6 | 6 | 9 | 7 | 13 | 14 | 9 | 10 | 10 |
| Other Income | 2 | 2 | 1 | 1 | 1 | 3 | 3 | 3 | 2 |
| Interest | 4 | 5 | 5 | 6 | 5 | 4 | 4 | 4 | 6 |
| Depreciation | 1 | 1 | 1 | 1 | 1 | 1 | 2 | 2 | 2 |
| Profit before tax | 12 | 13 | 23 | 15 | 33 | 58 | 57 | 64 | 65 |
| Tax % | 24 | 28 | 22 | 40 | 25 | 24 | 29 | 19 | 23 |
| Net Profit | 9 | 9 | 18 | 9 | 25 | 44 | 40 | 52 | 50 |
| EPS in Rs | 9.36 | 9.64 | 3.07 | 1.6 | 4.29 | 5.71 | 5.23 | 6.77 | 6.58 |

### Profit & Loss

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

| Item | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM |
| --- | --- | --- | --- | --- | --- | --- | --- |
| Sales | 377 | 428 | 679 | 711 | 1106 | 2019 | 2442 |
| Expenses | 356 | 409 | 637 | 661 | 1015 | 1820 | 2183 |
| Operating Profit | 20 | 19 | 43 | 50 | 92 | 199 | 259 |
| OPM % | 5 | 4.4 | 6 | 7 | 8 | 10 | 11 |
| Other Income | 1 | 2 | 3 | 3 | 6 | 10 | 10 |
| Interest | 6 | 10 | 12 | 14 | 19 | 18 | 19 |
| Depreciation | 2 | 2 | 2 | 3 | 6 | 6 | 7 |
| Profit before tax | 14 | 8 | 31 | 36 | 73 | 184 | 244 |
| Tax % | 41 | 61 | 36 | 25 | 23 | 24 | — |
| Net Profit | 8 | 3 | 20 | 27 | 56 | 140 | 186 |
| EPS in Rs | 8.75 | 3.44 | 20.65 | 27.99 | 9.71 | 18.27 | 24.29 |
| Dividend Payout % | 0 | 0 | 0 | 0 | 0 | 0 | — |

### Balance Sheet

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

| Item | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
| --- | --- | --- | --- | --- | --- | --- |
| Equity Capital | 9 | 9 | 9 | 9 | 54 | 72 |
| Reserves | 42 | 41 | 61 | 88 | 98 | 526 |
| Borrowings | 116 | 144 | 165 | 211 | 243 | 216 |
| Other Liabilities | 30 | 20 | 22 | 18 | 24 | 42 |
| Total Liabilities | 197 | 214 | 257 | 325 | 420 | 856 |
| Fixed Assets | 29 | 43 | 42 | 60 | 57 | 59 |
| CWIP | 14 | 4 | 6 | 8 | 9 | 10 |
| Investments | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Assets | 154 | 167 | 208 | 257 | 354 | 787 |
| Total Assets | 197 | 214 | 257 | 325 | 420 | 856 |

### Cash Flow

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

| Item | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
| --- | --- | --- | --- | --- | --- | --- |
| Cash from Operating Activity | -28 | -16 | -4 | -13 | -15 | -261 |
| Cash from Investing Activity | 9 | -3 | -4 | -5 | 2 | -17 |
| Cash from Financing Activity | 18 | 18 | 9 | 20 | 13 | 272 |
| Net Cash Flow | 0 | 0 | 1 | 2 | 0 | -5 |
| Free Cash Flow | -20 | -20 | -7 | -23 | -19 | -267 |
| CFO/OP | -114 | -66 | 10 | -6 | -2 | -111 |

### Ratios

| Item | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
| --- | --- | --- | --- | --- | --- | --- |
| Debtor Days | 80 | 60 | 55 | 40 | 60 | 66 |
| Inventory Days | 49 | 77 | 50 | 72 | 54 | 70 |
| Days Payable | 4 | 7 | 4 | 3 | 2 | 2 |
| Cash Conversion Cycle | 125 | 130 | 101 | 110 | 112 | 134 |
| Working Capital Days | 27 | 38 | 31 | 19 | 34 | 90 |
| ROCE % | — | 10 | 20 | 19 | 26 | 33 |

## Shareholding Pattern

### Quarterly

| Category | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
| --- | --- | --- | --- | --- | --- |
| Promoters | 74.89% | 74.89% | 74.89% | 74.89% | 74.89% |
| FIIs | 2.71% | 2.67% | 2.21% | 2.18% | 1.92% |
| DIIs | 9.05% | 4.01% | 2.29% | 2.13% | 1.58% |
| Government | 0% | 0% | 0% | 0% | 0% |
| Public | 11.71% | 13.37% | 16.01% | 14.45% | 16.01% |
| Others | 1.64% | 5.06% | 4.6% | 6.35% | 5.6% |
| No. of Shareholders | 87109 | 35483 | 34135 | 32844 | 30274 |

## Technical Indicators

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

- **Overall Signal:** Strong Buy
- **Buy / Neutral / Sell:** 11 / 6 / 2

### Moving Averages — summary: **Strong Buy**

| Indicator | Value | Signal |
| --- | --- | --- |
| SMA (10) | 253.79 | Buy |
| EMA (10) | 256.52 | Buy |
| SMA (20) | 255.64 | Buy |
| EMA (20) | 251.65 | Buy |
| SMA (50) | 233.35 | Buy |
| EMA (50) | 239.4 | Buy |
| SMA (100) | 225.93 | Buy |
| EMA (100) | 228.82 | Buy |
| SMA (200) | 212 | Buy |
| EMA (200) | 222.02 | Buy |

### Oscillators — summary: **Sell**

| Indicator | Value | Signal |
| --- | --- | --- |
| RSI (14) | 55.85 | Neutral |
| MACD (12,26,9) | 6.95 | Sell |
| Stochastic (14,3,3) | 55.38 | Neutral |
| ADX (14) | 29.9 | Buy |
| Williams %R (14) | -43.2 | Neutral |
| ATR (14) | 12.95 | High Volatility |
| ROC (12) | -2.97 | Sell |
| Stoch RSI (14) | 45.77 | Neutral |
| UO (7,14,28) | 49.12 | Neutral |

## Filings & Documents

### Exchange Filings & Announcements

| Date | Document |
| --- | --- |
| 2026-09-04 | [Announcement under Regulation 30 (LODR)-Newspaper Publication](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=666d4107-de38-4dd6-8c00-3a66010b3eea.pdf) |
| 2026-09-03 | [Reg. 34 (1) Annual Report.](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=5e10aa7e-3304-4460-a68b-a040ef15bb02.pdf) |
| 2026-09-03 | [Notice Of 13Th Annual General Meeting Alongwith Annual Report For FY 2025-26](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=713bf267-8c5a-4761-a6ce-43c232192d99.pdf) |
| 2026-09-03 | [Letter To Shareholders](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=0a67fad7-ec5a-44bb-a318-6d132c9cce17.pdf) |
| 2026-09-03 | [Letter To Shareholders](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=2cfaff27-a04d-41ad-b940-121a1ccc068c.pdf) |
| 2026-09-01 | [Announcement under Regulation 30 (LODR)-Updates on Acquisition](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=bc1d7e57-57bd-41d6-8669-a65a62cfaf82.pdf) |
| 2026-08-31 | [Announcement under Regulation 30 (LODR)-Acquisition](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=2ac6f85c-d9f3-4eec-bb2f-cce3ec9ad2b9.pdf) |
| 2026-08-31 | [Announcement under Regulation 30 (LODR)-Newspaper Publication](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=5877653e-425d-4cab-afb7-eff2bef5f004.pdf) |
| 2026-08-26 | [Announcement under Regulation 30 (LODR)-Newspaper Publication](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=f546f3c3-08b5-44ef-9759-fc44b5372318.pdf) |
| 2026-08-24 | [Board Meeting Outcome for Meeting Held On Monday August 24 2026](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=c51732e7-f492-449d-9e17-b6f78c96a3ff.pdf) |

### Earnings Call Transcripts

| Date | Document |
| --- | --- |
| 2026-08-20 | [Announcement under Regulation 30 (LODR)-Earnings Call Transcript](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=b0a0dbca-5780-4e79-9674-998f5ad9af9e.pdf) |
| 2026-05-27 | [Announcement under Regulation 30 (LODR)-Earnings Call Transcript](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=719fa4d3-b400-4abe-b1a7-8acf9842724c.pdf) |
| 2026-02-17 | [Announcement under Regulation 30 (LODR)-Earnings Call Transcript](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=bfc1567a-1990-4570-942f-86872436d8bb.pdf) |
| 2025-11-12 | [Announcement under Regulation 30 (LODR)-Earnings Call Transcript](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=5f8ad7f3-77e2-4653-a00b-624c8fdb8217.pdf) |

### Results & Financial Statements

| Date | Document |
| --- | --- |
| 2026-08-13 | [Results - Financial Results For The Quarter Ended June 30 2026](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=0e2b901c-83b1-49c9-9876-102edb4faa08.pdf) |
| 2026-05-21 | [Results - Financial Results For The Quarter And Year Ended March 31 2026](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=7c4abbce-7077-4c68-86fc-4c7a7e54dc2e.pdf) |
| 2026-02-10 | [Results - Unaudited Financial Results For The Quarter Ended December 31 2025 Alongwith Limited Review Report](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=5bd53d46-3fea-43e5-b9ea-4053ed32db1f.pdf) |
| 2025-11-04 | [Results - Unaudited Financial Results For The Quarter And Half-Year Ended September 30 2025](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=04e799fd-3f75-412f-a34a-1c576d544eb6.pdf) |
| 2025-08-20 | [Results - Financial Results For Quarter Ended June 30 2025](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=80b7ba9e-7b57-4b0b-ae18-c78a1f483b16.pdf) |

### Investor Presentations

| Date | Document |
| --- | --- |
| 2026-08-13 | [Announcement under Regulation 30 (LODR)-Investor Presentation](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=7f359160-d86a-4505-8a0b-210e309d0478.pdf) |
| 2026-05-22 | [Announcement under Regulation 30 (LODR)-Investor Presentation](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=bbf40f35-41fa-4d91-a95f-8ee0e74c6556.pdf) |
| 2026-02-10 | [Announcement under Regulation 30 (LODR)-Investor Presentation](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=d93ab514-be77-4ff9-8903-86b3131f1cad.pdf) |
| 2025-11-05 | [Announcement under Regulation 30 (LODR)-Investor Presentation](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=c9bf6464-a78b-4046-a142-ae816ca96ad3.pdf) |

### Other Documents

| Date | Document |
| --- | --- |
| 9h - Board approved inventory valuation change from FIFO to WAC, retrospectively from April 1, 2024. | [Board Meeting Outcome for Board Meeting Held On Monday, May 11, 2026 9h - Board approved inventory valuation change from FIFO to WAC, retrospectively from April 1, 2024.](https://www.bseindia.com/xml-data/corpfiling/AttachLive/078faa85-b6e4-4f18-91a1-816c1e6d5daa.pdf) |
| 9 Apr - Submitted Regulation 74(5) depository certificate for quarter ended March 31, 2026. | [Compliances-Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018 9 Apr - Submitted Regulation 74(5) depository certificate for quarter ended March 31, 2026.](https://www.bseindia.com/xml-data/corpfiling/AttachHis/9dd5adc9-981d-4320-8274-8983598b9b4f.pdf) |
| 8h - Board approved inventory valuation change from FIFO to WAC, effective April 1, 2024 retrospectively. | [Change In Accounting Policy - Disclosure Under Regulation 30 Read With Schedule III Of SEBI (LODR) Regulations, 2015 8h - Board approved inventory valuation change from FIFO to WAC, effective April 1, 2024 retrospectively.](https://www.bseindia.com/xml-data/corpfiling/AttachLive/67fd9a59-9927-442f-98c8-d89d9708b454.pdf) |
| 8h - Acuite report for Q4 FY2025-26 shows IPO proceeds fully aligned with stated objects, with no deviation. | [Announcement under Regulation 30 (LODR)-Monitoring Agency Report 8h - Acuite report for Q4 FY2025-26 shows IPO proceeds fully aligned with stated objects, with no deviation.](https://www.bseindia.com/xml-data/corpfiling/AttachLive/cac69297-1e55-4266-9c5b-b09e65b35116.pdf) |
| 31 Mar - Revised Dubai subsidiary incorporation expected by June 30, 2026 due to regional geopolitical disruptions. | [Update - Intimation Under Regulation 30 Of The SEBI (LODR) Regulations, 2015 31 Mar - Revised Dubai subsidiary incorporation expected by June 30, 2026 due to regional geopolitical disruptions.](https://www.bseindia.com/xml-data/corpfiling/AttachHis/7258fb1e-0646-4314-b9fe-764c18d4b54a.pdf) |
| 25 Apr - Postal ballot passed reappointment and remuneration increase for MD Pankajkumar Jagawat and WTD Manojkumar Jain. | [Shareholder Meeting / Postal Ballot-Outcome of Postal_Ballot 25 Apr - Postal ballot passed reappointment and remuneration increase for MD Pankajkumar Jagawat and WTD Manojkumar Jain.](https://www.bseindia.com/xml-data/corpfiling/AttachHis/e2432b63-4bc3-4326-ad20-72cbdb824b90.pdf) |
| 25 Apr - Postal ballot approved reappointment and higher remuneration for MD Pankajkumar Jagawat and WTD Manojkumar Jain. | [Shareholder Meeting / Postal Ballot-Scrutinizer"s Report 25 Apr - Postal ballot approved reappointment and higher remuneration for MD Pankajkumar Jagawat and WTD Manojkumar Jain.](https://www.bseindia.com/xml-data/corpfiling/AttachHis/09e7a981-2e18-406d-9a6b-a2aefb123572.pdf) |
| 24 Feb - Non-deal roadshow with analysts on Feb 26, 2026, 15:30-17:00 IST in Mumbai; no unpublished price-sensitive information. | [Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation 24 Feb - Non-deal roadshow with analysts on Feb 26, 2026, 15:30-17:00 IST in Mumbai; no unpublished price-sensitive information.](https://www.bseindia.com/xml-data/corpfiling/AttachHis/c3e198ea-68c8-48bf-84f8-b7d773e4e79d.pdf) |
| 19 Mar - MD Jagawat and WTD Jain reappointed 1 Sep 2026–31 Aug 2031; pay increase effective 1 Feb 2026; postal ballot. | [Announcement under Regulation 30 (LODR)-Change in Directorate 19 Mar - MD Jagawat and WTD Jain reappointed 1 Sep 2026–31 Aug 2031; pay increase effective 1 Feb 2026; postal ballot.](https://www.bseindia.com/xml-data/corpfiling/AttachHis/4c545c80-83bd-46d9-9f8e-700dbb2fe7d4.pdf) |
| 19 Mar - MD and Whole-time Director re-appointed Sept 1, 2026–Aug 31, 2031; remuneration increased from Feb 1, 2026; subject to postal ballot. | [Board Meeting Outcome for Board Meeting Outcome Held On Thursday, March 19, 2026 19 Mar - MD and Whole-time Director re-appointed Sept 1, 2026–Aug 31, 2031; remuneration increased from Feb 1, 2026; subject to postal ballot.](https://www.bseindia.com/xml-data/corpfiling/AttachHis/d5b0ae8b-ccbe-411c-9686-2533db4adced.pdf) |

### Earnings Call Documents

| Date | Document |
| --- | --- |
| Nov 2025 | [Concall - Nov 2025](https://www.bseindia.com/xml-data/corpfiling/AttachHis/5f8ad7f3-77e2-4653-a00b-624c8fdb8217.pdf) |
| May 2026 | [Concall - May 2026](https://www.bseindia.com/xml-data/corpfiling/AttachHis/719fa4d3-b400-4abe-b1a7-8acf9842724c.pdf) |
| May 2026 | [Concall - May 2026](https://www.bseindia.com/xml-data/corpfiling/AttachLive/719fa4d3-b400-4abe-b1a7-8acf9842724c.pdf) |
| May 2026 | [Concall - May 2026](https://www.bseindia.com/xml-data/corpfiling/AttachHis/bbf40f35-41fa-4d91-a95f-8ee0e74c6556.pdf) |
| May 2026 | [Concall - May 2026](https://www.bseindia.com/xml-data/corpfiling/AttachLive/bbf40f35-41fa-4d91-a95f-8ee0e74c6556.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 2026-09-13T19:39:29.815Z.