---
title: "Shubhlaxmi Jewel Art Ltd (SHUBHLAXMI) — Share Price, Financials & Analysis"
symbol: "SHUBHLAXMI"
company: "Shubhlaxmi Jewel Art Ltd"
canonical: "https://tapetide.com/stocks/SHUBHLAXMI"
isin: "INE01Z401013"
nse_symbol: "SHUBHLAXMI"
sector: "Consumer Discretionary"
industry: "Consumer Durables"
market_cap_cr: 18.77
generated_at: "2026-09-13T19:41:07.290Z"
---

# Shubhlaxmi Jewel Art Ltd (SHUBHLAXMI)

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

## Company

- **NSE Symbol:** SHUBHLAXMI
- **ISIN:** INE01Z401013
- **Sector:** Consumer Discretionary
- **Industry:** Consumer Durables
- **Macro Sector:** Consumer Discretionary
- **Stock Type:** EQUITY
- **Listed Since:** 2018-12-04
- **Face Value:** ₹10
- **F&O Eligible:** No
- **Website:** shubhlaxmiltd.in

## About

Incorporated in 2013, Shubhlaxmi Jewel Art Ltd deals in gold, silver, jewellery, and other precious metals.[1]

## Latest Price

- **Price:** ₹18.4
- **Change:** +0.7 (+3.95%)
- **Open:** ₹17.7
- **Day High:** ₹18.4
- **Day Low:** ₹17.7
- **Previous Close:** ₹17.7
- **Volume:** 3000
- **As Of:** 2026-09-11T09:57:49+00:00

## Key Fundamentals

Observed at 2026-09-11T04:43:44.136532Z.

- **Market Cap:** ₹18.77 Cr
- **Classification:** SME
- **P/E (reported):** 17.7
- **Book Value:** ₹22.29
- **Price to Book:** 0.79
- **Dividend Yield:** 0%
- **ROE:** 4.01%
- **ROCE:** 10.28%
- **Debt to Equity:** 0.57
- **Revenue (yearly):** ₹62.65 Cr
- **Net Income:** ₹1.07 Cr
- **EBITDA:** ₹2.63 Cr
- **52-Week High:** ₹40
- **52-Week Low:** ₹13.75
- **RSI (14):** 35.68

## Tapetide Score

- **Score:** 43 / 100
- **Score date:** 2026-09-04
- **Archetype:** Weak and Under Pressure
- **What it means:** Weak financials are the defining feature, and neither the valuation nor the trend reading is strong enough to offset them. Worth reading the risk flags and recent filings closely before anything else.
- **Pillar profile:** Quality: Weak · Valuation: Fair · Momentum: Falling
- **Percentile:** 22.3 (of 4473 scored stocks)
- **Confidence:** 88%
- **Data coverage:** 76%

| Pillar | Score | Weight |
| --- | --- | --- |
| financial health | 37.27 | 9% |
| growth | 61.76 | 9% |
| momentum | 11.57 | 12% |
| ownership | 33.85 | 24% |
| quality | 49.92 | 22% |
| valuation | 54.57 | 24% |

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

## Key Insights

### Strengths

- Stock is trading at 0.83 times its book value

### Weaknesses

- Though the company is reporting repeated profits, it is not paying out dividend
- Promoter holding has decreased over last quarter: -6.31%
- Company has a low return on equity of 4.91% over last 3 years.
- Company might be capitalizing the interest cost

## Growth Rates

| Metric | 1Y | 3Y | 5Y |
| --- | --- | --- | --- |
| cash flow growth | -261.7% | -238.21% | -172.34% |
| ebitda margin growth | -16% | -2.78% | 35.05% |
| net income growth | 18.89% | 1% | -8% |
| revenue growth | 13.7% | -7% | 17% |
| roce | -10.53% | -11.46% | 11.99% |
| roe | -28.77% | 5.04% | -61.14% |

## Financial Statements

### Quarterly Results

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

| Item | Sep 2020 | Mar 2021 | Sep 2021 | Mar 2022 | Sep 2022 | Mar 2023 | Sep 2023 | Mar 2024 | Sep 2024 | Mar 2025 | Sep 2025 | Mar 2026 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Sales | 8.46 | 20.7 | 23.71 | 37.99 | 35.74 | 41.86 | 26.72 | 41.64 | 23.98 | 31.11 | 22.38 | 40.27 |
| Expenses | 7.23 | 19.14 | 22.84 | 36.94 | 34.73 | 40.63 | 25.17 | 40.93 | 22.04 | 30.3 | 18.25 | 41.76 |
| Operating Profit | 1.23 | 1.56 | 0.87 | 1.05 | 1.01 | 1.23 | 1.55 | 0.71 | 1.94 | 0.81 | 4.13 | -1.49 |
| OPM % | 14.54 | 7.54 | 3.67 | 2.76 | 2.83 | 2.94 | 5.8 | 1.71 | 8.09 | 2.6 | 18.45 | -3.7 |
| Other Income | 0.05 | 0 | 0 | 0 | 0.05 | 0.33 | 0.37 | 0.36 | 0 | 0 | 0.02 | -0.01 |
| Interest | 0.34 | 0.24 | 0.25 | 0.5 | 0.4 | 0.7 | 0.55 | 0.55 | 0.59 | 0.65 | 0.55 | 0.46 |
| Depreciation | 0.07 | 0.07 | 0.06 | 0.06 | 0.06 | 0.08 | 0.09 | 0.11 | 0.08 | 0.07 | 0.07 | 0.06 |
| Profit before tax | 0.87 | 1.25 | 0.56 | 0.49 | 0.6 | 0.78 | 1.28 | 0.41 | 1.27 | 0.09 | 3.53 | -2.02 |
| Tax % | 25.29 | 24.8 | 26.79 | 22.45 | 26.67 | 26.92 | 27.34 | 29.27 | 26.77 | 133.33 | 25.5 | -22.28 |
| Net Profit | 0.65 | 0.95 | 0.41 | 0.37 | 0.44 | 0.57 | 0.93 | 0.29 | 0.93 | -0.02 | 2.63 | -1.57 |
| EPS in Rs | 0.78 | 1.14 | 0.49 | 0.45 | 0.5 | 0.65 | 0.88 | 0.27 | 0.88 | -0.02 | 2.48 | -1.48 |

### Profit & Loss

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

| Item | Mar 2019 11m | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Sales | 51.23 | 53.09 | 29.12 | 61.49 | 77.26 | 68.07 | 54.9 | 62.65 |
| Expenses | 48.8 | 50.62 | 26.33 | 59.46 | 74.88 | 65.69 | 52.02 | 60.02 |
| Operating Profit | 2.43 | 2.47 | 2.79 | 2.03 | 2.38 | 2.38 | 2.88 | 2.63 |
| OPM % | 4.74 | 4.65 | 9.58 | 3.3 | 3.08 | 3.5 | 5.25 | 4.2 |
| Other Income | 0.01 | 0 | 0.05 | 0 | 0.38 | 0.69 | 0 | 0.01 |
| Interest | 0.75 | 0.73 | 0.58 | 0.86 | 1.23 | 1.19 | 1.36 | 1 |
| Depreciation | 0.33 | 0.14 | 0.15 | 0.12 | 0.14 | 0.2 | 0.15 | 0.13 |
| Profit before tax | 1.36 | 1.6 | 2.11 | 1.05 | 1.39 | 1.68 | 1.37 | 1.51 |
| Tax % | 25.74 | 24.38 | 24.17 | 24.76 | 26.62 | 27.38 | 32.85 | 29.8 |
| Net Profit | 1 | 1.21 | 1.59 | 0.78 | 1.02 | 1.22 | 0.9 | 1.06 |
| EPS in Rs | 1.2 | 1.46 | 1.91 | 0.94 | 1.16 | 1.15 | 0.85 | 1 |
| Dividend Payout % | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |

### Balance Sheet

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

| Item | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Equity Capital | 8.3 | 8.3 | 8.3 | 8.3 | 8.8 | 10.6 | 10.6 | 10.6 |
| Reserves | 4.33 | 5.54 | 7.13 | 8.72 | 9.76 | 11.07 | 11.97 | 13.03 |
| Borrowings | 7.7 | 7.1 | 5.01 | 6.55 | 11.53 | 10.55 | 13.59 | 13.37 |
| Other Liabilities | 4.13 | 1.82 | 4.27 | 2.93 | 4.2 | 3.66 | 5.52 | 15.57 |
| Total Liabilities | 24.46 | 22.76 | 24.71 | 26.5 | 34.29 | 35.88 | 41.68 | 52.57 |
| Fixed Assets | 1.99 | 2.04 | 1.89 | 1.79 | 1.94 | 1.92 | 1.84 | 1.73 |
| CWIP | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Assets | 22.47 | 20.72 | 22.82 | 24.71 | 32.35 | 33.96 | 39.84 | 50.84 |
| Total Assets | 24.46 | 22.76 | 24.71 | 26.5 | 34.29 | 35.88 | 41.68 | 52.57 |

### Cash Flow

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

| Item | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Cash from Operating Activity | -14.72 | 1.05 | 2.35 | -1.89 | 1.23 | -0.47 | -1.7 | 0.8 |
| Cash from Investing Activity | -2.32 | -0.19 | -0.01 | -0.02 | 0.09 | 0.5 | -0.07 | -0.03 |
| Cash from Financing Activity | 17.62 | -1 | -2.59 | 1.86 | -1.16 | -0.18 | 1.87 | -0.95 |
| Net Cash Flow | 0.57 | -0.14 | -0.25 | -0.05 | 0.16 | -0.14 | 0.1 | -0.18 |
| Free Cash Flow | -17.04 | 0.86 | 2.34 | -1.91 | 0.94 | -0.7 | -1.77 | 0.77 |
| CFO/OP | -592 | 60 | 103 | -78 | 65 | -4 | -48 | 39 |

### Ratios

| Item | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Debtor Days | 11.76 | 8.8 | 15.79 | 12.82 | 6.66 | 9.12 | 7.58 | 13.17 |
| Inventory Days | 154.36 | 145.68 | 329.99 | 136.97 | 124.92 | 186.58 | 288.91 | 316.24 |
| Days Payable | 23.77 | 4.41 | 33.27 | 5.19 | 7.4 | 7.14 | 9.26 | 30.07 |
| Cash Conversion Cycle | 142.34 | 150.07 | 312.51 | 144.6 | 124.18 | 188.55 | 287.22 | 299.34 |
| Working Capital Days | 82.79 | 87.45 | 168.84 | 101.74 | 90.19 | 118.45 | 153.98 | 137.09 |
| ROCE % | — | 11.29 | 13 | 8.68 | 9.77 | 9.34 | 7.98 | 6.86 |

## Shareholding Pattern

### Quarterly

| Category | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Promoters | 64.95% | 64.95% | 64.95% | 60.21% | 60.21% | 58.87% | 56.29% | 56.29% | 56.2% | 63.64% | 63.62% | 57.31% |
| FIIs | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
| DIIs | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
| Government | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
| Public | 32.36% | 32.63% | 31.78% | 35.81% | 35.45% | 37.31% | 39.22% | 40.25% | 40.4% | 33.77% | 33.97% | 40.31% |
| Others | 2.69% | 2.42% | 3.27% | 3.98% | 4.34% | 3.82% | 4.49% | 3.45% | 3.4% | 2.59% | 2.41% | 2.38% |
| No. of Shareholders | 516 | 556 | 587 | 595 | 693 | 810 | 929 | 919 | 910 | 798 | 782 | 769 |

## Technical Indicators

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

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

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

| Indicator | Value | Signal |
| --- | --- | --- |
| SMA (10) | 18.65 | Sell |
| EMA (10) | 18.43 | Sell |
| SMA (20) | 18.7 | Sell |
| EMA (20) | 19.14 | Sell |
| SMA (50) | 22.34 | Sell |
| EMA (50) | 21.02 | Sell |
| SMA (100) | 22.88 | Sell |
| EMA (100) | 22.62 | Sell |
| SMA (200) | 24.49 | Sell |
| EMA (200) | 23.53 | Sell |

### Oscillators — summary: **Buy**

| Indicator | Value | Signal |
| --- | --- | --- |
| RSI (14) | 41.6 | Neutral |
| MACD (12,26,9) | -1.04 | Buy |
| Stochastic (14,3,3) | 32.88 | Neutral |
| ADX (14) | 44.45 | Buy |
| Williams %R (14) | -41.1 | Neutral |
| ATR (14) | 0.89 | High Volatility |
| ROC (12) | -3.16 | Sell |
| Stoch RSI (14) | 74.72 | Neutral |
| UO (7,14,28) | 57.5 | Neutral |

## Filings & Documents

### Other Documents

| Date | Document |
| --- | --- |
| 9 Jul - Unreadable OCR text; announcement content cannot be determined. | [Disclosure under SEBI Takeover Regulations 9 Jul - Unreadable OCR text; announcement content cannot be determined.](https://nsearchives.nseindia.com/corporate/team_sandeshc_01072026112014_INTIMATION1.PDF) |
| 9 January 2026 - Registrar confirms dematerialisation for quarter ended 31-Dec-2025; certificates confirmed/mutilated, depositories updated. | [Certificate under SEBI (Depositories and Participants) Regulations, 2018 9 January 2026 - Registrar confirms dematerialisation for quarter ended 31-Dec-2025; certificates confirmed/mutilated, depositories updated.](https://nsearchives.nseindia.com/corporate/SHUBHLAXMI_09012026153956_Regulation-74_5_-_Shubhlaxmi_Jewel_Art_Limited_31Dec25.pdf) |
| 8 January 2026 - Mrs. Binal Manan Shah appointed Additional Independent Director for five-year term effective January 8, 2026; ICSI associate. | [Outcome of Board Meeting 8 January 2026 - Mrs. Binal Manan Shah appointed Additional Independent Director for five-year term effective January 8, 2026; ICSI associate.](https://nsearchives.nseindia.com/corporate/SHUBHLAXMI_08012026160712_OUTCOME_BOARD_MEETING__1___1_.pdf) |
| 8 January 2026 - Mrs. Binal Manan Shah appointed Additional Independent Director effective Jan 8, 2026 for five-year term. | [Appointment 8 January 2026 - Mrs. Binal Manan Shah appointed Additional Independent Director effective Jan 8, 2026 for five-year term.](https://nsearchives.nseindia.com/corporate/SHUBHLAXMI_08012026160845_OUTCOME_BOARD_MEETING__1___1_.pdf) |
| 7 Sep - Shubhlaxmi Jewel Art Limited has informed about Resignation of Director/KMP/SMP | [Resignation of Director/KMP/SMP 7 Sep - Shubhlaxmi Jewel Art Limited has informed about Resignation of Director/KMP/SMP](https://nsearchives.nseindia.com/corporate/SHUBHLAXMI_ROID_98081_KMP_Doc.zip) |
| 7 Sep - Share transfer books closed September 23-30, 2026 for 8th AGM on September 30, 2026. | [Record Date 7 Sep - Share transfer books closed September 23-30, 2026 for 8th AGM on September 30, 2026.](https://nsearchives.nseindia.com/corporate/SHUBHLAXMI_07092026191300_NSE_INTIMATION__1_.PDF) |
| 7 Sep - Board met on 7 Sep 2026; approved AGM, appointed auditor, and CFO resigned effective 2 Sep 2026. | [Outcome of Board Meeting 7 Sep - Board met on 7 Sep 2026; approved AGM, appointed auditor, and CFO resigned effective 2 Sep 2026.](https://nsearchives.nseindia.com/corporate/SHUBHLAXMI_07092026185141_BM_OUTCOME.PDF) |
| 7 Sep - Board approved FY26 results, AGM on Sept 30, 2026; appointed APS Associates for 5 years; CFO resigned Sept 2, 2026. | [Change in Management 7 Sep - Board approved FY26 results, AGM on Sept 30, 2026; appointed APS Associates for 5 years; CFO resigned Sept 2, 2026.](https://nsearchives.nseindia.com/corporate/SHUBHLAXMI_07092026185514_BM_OUTCOME.PDF) |
| 7 Sep - Board approved 30 Sep 2026 AGM, appointed APS Associates auditor for 5 years, noted CFO resignation effective 2 Sep 2026. | [Outcome of Board Meeting 7 Sep - Board approved 30 Sep 2026 AGM, appointed APS Associates auditor for 5 years, noted CFO resignation effective 2 Sep 2026.](https://nsearchives.nseindia.com/corporate/SHUBHLAXMI_07092026185015_BM_OUTCOME.PDF) |
| 6 Aug - Parth Nair and Associates resigned as secretarial auditor effective August 6, 2026. | [Change in Auditors 6 Aug - Parth Nair and Associates resigned as secretarial auditor effective August 6, 2026.](https://nsearchives.nseindia.com/corporate/SHUBHLAXMI_06082026183750_PARTH_NAIR_AND_ASSOCIAYES_REDINGANTION_LETTER.PDF) |

### Annual Reports

| Date | Document |
| --- | --- |
| from nse | [Annual Report 2026 from nse](https://archives.nseindia.com/annual_reports/SME_AR_31874_SHUBHLAXMI_2025_2026_A_3518660_08092026164627.pdf) |
| from nse | [Annual Report 2025 from nse](https://archives.nseindia.com/annual_reports/SME_AR_28765_SHUBHLAXMI_2024_2025_A_3128911_06092025163313.pdf) |
| from nse | [Annual Report 2024 from nse](https://archives.nseindia.com/annual_reports/SME_AR_25839_SHUBHLAXMI_2023_2024_05092024172355.pdf) |
| from nse | [Annual Report 2023 from nse](https://archives.nseindia.com/annual_reports/SME_AR_23740_SHUBHLAXMI_2022_2023_07092023151512_09072023160014.zip) |
| from nse | [Annual Report 2022 from nse](https://archives.nseindia.com/annual_reports/SME_AR_21635_SHUBHLAXMI_2021_2022_07092022181949_09072022190029.zip) |
| from nse | [Annual Report 2021 from nse](https://archives.nseindia.com/annual_reports/SME_AR_19724_SHUBHLAXMI_2020_2021_08092021172309_09082021180024.zip) |
| from nse | [Annual Report 2020 from nse](https://archives.nseindia.com/annual_reports/SME_AR_17919_SHUBHLAXMI_2019_2020_04122020185941_04122020190006.zip) |
| from nse | [Annual Report 2019 from nse](https://archives.nseindia.com/annual_reports/SME_AR_16088_SHUBHLAXMI_2018_2019_27092019163836_27092019170003.zip) |

---

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 2026-09-13T19:41:07.290Z.