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    Moksh Ornaments Limited

    Mumbai-based manufacturer and exporter of gold jewellery, specialising in Kolkata-style gold bangles sold to wholesalers and retailers.

    Consumer Durables
    Consumer Discretionary

    Overview

    Price

    Market Cap

    ₹97 Cr

    Sector

    Consumer Durables

    Consumer Discretionary

    Rank

    Performance

    Financials

    Income Statement

    Financial Trajectories

    11
    Quarterly

    Balance Sheet

    Balance Sheet

    ₹ Cr · Annual
    Line itemFY20FY21FY22FY23FY24FY25FY26FY26
    LiabilitiesEquity Capital1111111111171818
    Reserves253034404794107111
    Borrowings603642850323925
    Other Liabilities831101731
    Total Liabilities103795080108144170185
    AssetsFixed Assets00000017
    CWIP00000000
    Investments00000000
    Other Assets103794979108143169177
    Total Assets103795080108144170185

    Cash Flow

    Cash Flow

    ₹ Cr · Annual
    Line itemFY19FY20FY21FY22FY23FY24FY25FY26
    ActivitiesCash from Operating319-12326-21-18-274
    Cash from Investing0-11770000-7
    Cash from Financing167-221-322423271
    SummaryCapital Expenditure
    Free Cash Flow320-5926-21-18-27-3
    FCF Margin

    Valuation

    Assumptions

    Current — MOKSH
    Price
    ₹12
    EPS (TTM)
    ₹0.96
    PE (TTM)
    12.5
    Profit growth
    25.4%

    The Earnings Per Share over the last 12 months.

    %

    Your assumption of the company's expected yearly EPS growth (e.g., 6 for 6%).

    Pre-filled with the lower of median (18.5×) and current (12.5×) PE — the conservative anchor.

    %

    The annualized return you aim to achieve. We solve for the price that delivers it, then compare to today's price.

    Valuation

    Current price
    ₹12
    vs
    Fair value · 15% return
    ₹16
    38%Undervalued

    At 25.4% growth and a 12× exit, ₹12 only delivers your return if you pay ₹16. The price is currently baking in 18% growth.

    EPS grows 25.4%/yr for 5 years, then fades to 6% over 2, exits at 12×.

    YearGrowthEPS (₹)
    FY2725.4%1.20
    FY2825.4%1.51
    FY2925.4%1.89
    FY3025.4%2.37
    FY3125.4%2.98
    FY3215.7% ·fade3.44
    FY336.0% ·fade3.65

    Methodology: we discount normalized net profit as a proxy for owner earnings (an earnings-power approximation — not full free cash flow). Terminal growth is capped at 6% (≈ nominal GDP) regardless of the required return. This is an analytical tool, not investment advice.

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