Sector Alpha Week of 2026-07-24
Sector Alpha — machine-written from the numbers · Data as of 2026-07-24

Radhika Jeweltech Ltd

RADHIKAJWE
Diamond, Gems & Jewellery

Radhika Jeweltech Ltd's three tracks disagree. Price, valuation and the earnings engine each tell a different story — the next quarter or two settles it.

The sharpest disagreement: annual EPS moved +24.6% against a −33.7% price move — the market has not yet caught up with the delivery.

The price is in a downtrend (39 weeks in) while the P/E sits at the 45th percentile of its own 9-year range. Underneath, the last four quarters read deteriorating — profit −32.3% year on year, and −12% of the last 3 years' profit arrived as cash. What settles it: whether the price catches up with earnings that have already moved.

Stage
Consistent
partial read
Price
₹65.9
−33.7% 1Y
P/E
10.0×
45th pctile
of its own 9-year range
Revenue (Mar 26)
₹193 Cr
+23.5% YoY
Profit (Mar 26)
₹7.5 Cr
−32.3% YoY
Operating margin
5.7%
−6.7 pp YoY
ROCE
25%
FY26
ROIC
18.4%
vs WACC 12.0% → +6.4 pp
Cash conversion
−12%
of profit, last 3 FY
Unverified figures: Some figures on this page come from a second financial-data feed that could not be cross-checked against the primary source — the two do not share enough overlapping reported history to compare. They are drawn, because they are the only evidence there is, and every section carrying one is marked unverified. PEG is the exception: the quarterly curve is not drawn at all. PEG asks what is being paid for growth — both sides of that division come from the source that could not be checked, so it is withheld instead of marked.
01 · Price story

Price story Before the numbers, the tape. A stock price moves through four repeating seasons: a flat base (stage 1), an advance (2), a top (3), a decline (4). Where the price sits in that cycle frames everything below.

Radhika Jeweltech Ltd trades at ₹65.9, in a downtrend and 39 weeks into that stage. That is −3.8% against its own 200-day average. It sits at 30% of a 52-week range of ₹54 to ₹94. On relative strength it has been ahead of the NIFTY 500 on a trailing-13-week view for 2 straight weeks.

Today the stock is in a downtrend — week 39 of stage 4, confirmed. At ₹65.9 it trades −3.8% versus its 200-day average and sits at 30% of its 52-week range (₹54–₹94).

Jul 26: ₹65.9 Weekly closing price (₹) with 50- and 200-day averages; shaded bands mark the price stage (grey base, green advance, amber top, red decline). 3-year window.
−3.8% versus the 200-day line, week 39 of stage 4
Price50-day avg200-day avg
S2S4S4₹151₹120₹88.5₹57.0₹25.6₹66₹69Jul 23Apr 24Feb 25Nov 25Jul 26
S2S4S4₹151₹120₹88.5₹57.0₹25.6₹66₹69Jul 23Feb 25Jul 26
Beating or trailing, week by week since 2016 Each cell is one week from 2016 to now (504 weeks): the stock's trailing 13-week return minus the NIFTY 500's, green ahead / red behind (±25% ramp). Grey cells are the 13-week warm-up or weeks where the NIFTY 500 reading is not held.
trailing 13-week return vs the NIFTY 500
Sep 16Jul 26

Against the market, two honest reads. Cumulative: over the last 9.8 years the stock moved +367% while the NIFTY 500 moved +208% — ahead of the index over the full window. Recent form: on a trailing-13-week view the stock has been ahead for 2 straight weeks — the ribbon below is that same metric, week by week.

What would end the trend, mechanically: two Friday closes in a row below the 200-day line. That is the exit rule — no debates.

→ The trend is one thing; the bill is another. Are you paying up for it? Next: the P/E sits at the 45th percentile of its own range.

02 · Valuation

Valuation P/E is the price of ₹1 of annual profit: how many rupees the market pays for each rupee the company earns in a year.

Radhika Jeweltech Ltd trades at 10.0× P/E, mid-range by its own standards (45th percentile). Its long-run median P/E is 10.9×, measured across 8.7 years of weekly readings. This places the multiple against the stock’s own record, and says nothing about what the business is worth.

Today's P/E of 10.0× is mid-range by its own standards (45th percentile), against a long-run median of 10.9× measured over 8.7 years of weekly readings. This is a comparison against the stock's own history — not a claim about what it is worth.

P/E 10.0× vs a 10.9× long-run median P/E, weekly (left axis); earnings per share, trailing twelve months, weekly (right axis). 8.7-year window; loss-period spikes above 28× shown pinned at the top. The eps (ttm) bars are red where the reading is lower than the quarter before.
mid-range by its own standards (45th percentile)
P/EMedianEPS (TTM) (quarterly)
30.1×₹7.222.8×₹5.415.4×₹3.68.0×₹1.80.7×₹0.0×10.00×₹6Oct 17Dec 19Apr 22Aug 24Jul 26
30.1×₹7.222.8×₹5.415.4×₹3.68.0×₹1.80.7×₹0.0×10.00×₹6Oct 17Apr 22Jul 26
P/E
10.0×
45th percentile of 9y

Why the multiple sits where it does: over the past year annual EPS moved +24.6% against a −33.7% price move — earnings outran the price, pushing the multiple DOWN its own range.

The price move, decomposed: over 5y, of the +51.8%/yr price move, ~+24.2%/yr came from earnings growth and ~+27.6 pp from the multiple (expanding). The split is the honest approximate (price return minus earnings growth); it makes the rally itself visible instead of hiding it behind the percentile.

Put together: the multiple is unremarkable against its own past, so the story rests on the earnings line underneath it, not the multiple.

A quarterly PEG curve, which only the second data source carries, is not drawn on this page: its two data sources do not share enough overlapping reported history to be compared. A figure nobody could check is not used to price growth — the gap is a decision, not missing data.

→ Cheap or dear rides on the earnings. Are they actually growing? Next: the fundamental stage — where the business sits in its arc, and how growth has compounded.

03 · Stage: Consistent

Stage: Consistent Every business sits somewhere on a fundamental arc, and this page names the spot before anything else. The last twelve quarters of revenue, profit and EPS growth — plus the return the business earns on its capital — are read as curves: Deteriorating (the curves are falling), Turning around (a trough has just formed and the last few quarters lift off it), Improving (the climb off the trough is sustained), Consistent (steadily positive with healthy returns), Topping out (still high but decelerating from the peak). When the curves genuinely disagree the read is Mixed; too little history is No read. CAGR (compound annual growth rate) is the smooth yearly pace that turns the starting value into the latest one — the fairest way to compare growth across different time spans. Read the columns together: if the 1-year number towers over the 10-year, recent growth is running hotter than the long-run trend. A dash means that window is not held, or the base year was a loss (where a growth rate is not meaningful).

Radhika Jeweltech Ltd reads as consistent on its fundamental arc. Consistent — revenue, profit and EPS growth have stayed positive through the window, with ROCE at 25.0% and holding. The read is built from 8 quarters across 4 curves, on partial evidence.

Three growth curves, twelve quarters Year-on-year growth of trailing-twelve-month revenue (left axis), profit and EPS (right axis — they swing far wider), % at each quarter-end. A missing point means that reading is not held for the quarter.
the trajectory the stage is read from
RevenueProfitEPS
51%49%38%41%25%32%12%23%−0.5%14%%%8.7%30%29.9%Jun 23Sep 24Mar 26
51%49%38%41%25%32%12%23%−0.5%14%%%8.7%30%29.9%Jun 23Sep 24Mar 26
ROCE Annual readings — the quarterly balance-sheet pieces this curve needs are not held for this stock, so the returns read moves once a year and carries less weight in the call.
the return curve, annual readings
ROCE
27%24%22%20%17%%25%FY23FY24FY26
27%24%22%20%17%%25%FY23FY24FY26
Revenue growth
Steady high
latest +8.7% · span +3.0% to +47.3%
Profit growth
Steady high
latest +30.0% · span +16.2% to +47.0%
EPS growth
Steady high
latest +29.9% · span +16.2% to +46.8%
ROCE
Steady high
latest 25.0% · span 18.0%–26.0%

Why it matters: steady curves with healthy returns are the compounding setup — the risk is the price, not the business.

Return readings here are annual, not quarterly — read as level and direction only; they can confirm the growth curves but never drive the stage on their own.

A partial read: at least one curve is short, or the returns curve is not the computed quarterly series — hold the stage word a little more loosely.

Growth, year by year: revenue +8.7% in FY26, profit +25.0% Year-over-year growth per fiscal year, %: revenue (left axis); net profit and EPS (right axis — profit growth swings far wider). Zero line drawn.
Revenue YoYProfit YoYEPS YoY
82%219%52%151%23%83%−6.5%16%−36%−52%%%8.7%25%FY16FY21FY26
82%219%52%151%23%83%−6.5%16%−36%−52%%%8.7%25%FY16FY21FY26
TTM growth by quarter Trailing-twelve-month growth versus the year-ago TTM, per quarter, %: revenue (left axis); profit and EPS (right axis). The acceleration read compares the last 4 quarters (+8.7%) with the last 8 annualized (+8.4%).
revenue stabilising, profit accelerating
Revenue TTM YoYProfit TTM YoYEPS TTM YoY
51%49%38%41%25%32%12%23%−0.5%14%%%8.7%30%Jun 23Sep 24Mar 26
51%49%38%41%25%32%12%23%−0.5%14%%%8.7%30%Jun 23Sep 24Mar 26
Compound annual growth rate (%) Compound annual growth rate over each window, %. Revenue, profit and EPS from fiscal-year figures; share price is the price CAGR over the same spans. A dash = that window is not held, or the base was a loss.
1yr3yr5yr10yr
Revenue+8.7%+26.9%+36.1%+16.7%
Profit+25.0%+35.7%+26.7%+38.0%
EPS+24.6%+36.0%+27.0%
Share price−33.7%+22.5%+51.8%
Revenue YoY (Mar 26)
+23.5%
latest quarter vs a year ago
Profit YoY (Mar 26)
−32.3%
latest quarter vs a year ago
Revenue 10y
16.7%
long-run compound pace

→ The stage names the trajectory. Next: the revenue line that produces it, quarter by quarter.

04 · 4-Factor Sector Score

4-Factor Sector Score

42.2/100 — rank 21 of 26 in Diamond, Gems & Jewellery · 83% evidence confidence

Radhika Jeweltech Ltd scores 42.2 out of 100 against the 26 companies it is compared with in Diamond, Gems & Jewellery, ranking 21. Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.

The four contributions add to the total exactly: 11.6 + 15.7 + 11.2 + 3.7 = 42.2. This is the SAME number shown on the sector comparison — it is computed once, for the whole peer set, and read here.

What would change it: The read weakens if profit growth turns negative or margin improvement reverses while sector-relative strength deteriorates.

05 · Revenue

Revenue Revenue is the top line: everything the company billed its customers in the period.

Radhika Jeweltech Ltd reported ₹193 Cr of revenue in the Mar 26 quarter, +23.5% year on year. That is the 7th straight quarter of year-on-year growth. Over 10 years it has compounded at 16.7% a year. The last full year, FY26, came in at ₹639 Cr. The last four reported quarters add to ₹639 Cr.

Radhika Jeweltech Ltd reported ₹193 Cr of revenue in the Mar 26 quarter, +23.5% year on year. That is the 7th straight quarter of year-on-year growth. Over 10 years it has compounded at 16.7% a year. The last full year, FY26, came in at ₹639 Cr. The last four reported quarters add to ₹639 Cr.

FY26 revenue came in at ₹639 Cr (+8.7% on the year), capping 10 years at 16.7% compound. The latest quarter (Mar 26) printed ₹193 Cr, +23.5% year on year — the 7th consecutive quarter of year-over-year growth.

FY26 revenue ₹639 Cr (+8.7% YoY) Revenue bars, ₹ Cr (left); YoY growth-% line (right). 11-year window. A bar is red when it is lower than the year before.
16.7% a year over 10 years
RevenueYoY growth
69082%51852%34523%173−6.5%0−36%₹ Cr%₹6398.7%FY16FY21FY26
69082%51852%34523%173−6.5%0−36%₹ Cr%₹6398.7%FY16FY21FY26
Mar 26: ₹193 Cr (+23.5% YoY) Quarterly revenue bars, ₹ Cr (left); YoY growth-% line (right). Last 12 quarters. A bar is red when it is lower than the quarter before.
7th straight quarter of growth
Revenue (quarterly)YoY growth
23195%17366%11537%587.8%0−21%₹ Cr%₹19323.5%Jun 23Sep 24Mar 26
23195%17366%11537%587.8%0−21%₹ Cr%₹19323.5%Jun 23Sep 24Mar 26

Pace check: the last four quarters averaged +8.6% growth against the decade's 16.7% — the current year is running slower than its own long-run rate.

Acceleration check: trailing-twelve-month revenue grew +8.7% over the last 4 quarters against +8.4%/yr over the last 8 — stabilising; TTM profit +30.0% vs +22.9%/yr — accelerating.

→ Revenue grew — did margins hold as it scaled? Next: 5.7% this quarter (−6.7 pp YoY).

06 · Operating margin

Operating margin Operating margin is what is left of every ₹100 of sales after running the business, before interest and tax. It is the cleanest read on pricing power and cost control.

Radhika Jeweltech Ltd's operating margin is 5.7% in the Mar 26 quarter, −6.7 percentage points against the same quarter a year ago. Across 12 fiscal years the operating margin has ranged 7.0% to 17.0%. The current quarter is running below every full year in that window.

Radhika Jeweltech Ltd's operating margin is 5.7% in the Mar 26 quarter, −6.7 percentage points against the same quarter a year ago. Across 12 fiscal years the operating margin has ranged 7.0% to 17.0%. The current quarter is running below every full year in that window.

The latest quarter's operating margin is 5.7%, −6.7 pp against the same quarter a year ago. Across 12 fiscal years the operating margin has ranged 7.0%–17.0%.

🚨 Why the margin moved: operating margin went −6.7 pp year on year while gross margin went +2.5 pp — the loss came mostly below the gross line: operating leverage, with costs spread over a bigger revenue base.

FY26: 16.0% Operating margin by fiscal year, %, line (left); year-on-year change in the margin, in percentage points, line (right). 12-year window.
within a 7.0–17.0% band over 12 years
operating marginYoY change (pp)
18%9.9%15%6.7%12%3.5%9.1%0.3%6.2%−2.9%%%16%1%FY15FY20FY26
18%9.9%15%6.7%12%3.5%9.1%0.3%6.2%−2.9%%%16%1%FY15FY20FY26
Mar 26: 5.7% operating margin (−6.7 pp YoY) Quarterly operating margin, %, line (left); year-on-year change in the margin, in percentage points, line (right). Last 12 quarters. Operating profit as a share of revenue, per quarter.
Operating marginYoY change (pp)
27%6.6%21%3.0%16%−0.6%9.9%−4.1%4.2%−7.7%%%5.7%−6.7%Jun 23Sep 24Mar 26
27%6.6%21%3.0%16%−0.6%9.9%−4.1%4.2%−7.7%%%5.7%−6.7%Jun 23Sep 24Mar 26

→ Margins slipped — did that reach the bottom line? Next: profit −32.3% in the latest quarter.

07 · Net profit

Net profit Net profit is what survives every cost, interest and tax — the number EPS, dividends and book value all grow from.

Radhika Jeweltech Ltd earned ₹7.5 Cr of net profit in the Mar 26 quarter, −32.3% year on year. Full-year FY26 profit was ₹75.0 Cr. The 10-year compound rate is 38.0%. That is 3.9% of the quarter's revenue. The same quarter a year earlier earned ₹11.1 Cr.

Radhika Jeweltech Ltd earned ₹7.5 Cr of net profit in the Mar 26 quarter, −32.3% year on year. Full-year FY26 profit was ₹75.0 Cr. The 10-year compound rate is 38.0%. That is 3.9% of the quarter's revenue. The same quarter a year earlier earned ₹11.1 Cr.

Mar 26 profit was ₹7.5 Cr, −32.3% year on year. On the full year, FY26 printed ₹75.0 Cr (+25.0%), and the 10-year compound rate is 38.0%.

FY26 profit ₹75.0 Cr (+25.0% YoY) Net profit bars, ₹ Cr (left); YoY growth-% line (right). 11-year window. A bar is red when it is lower than the year before.
38.0% a year over 10 years
Net profitYoY growth
81219%61151%4183%2016%0−52%₹ Cr%₹7525%FY16FY21FY26
81219%61151%4183%2016%0−52%₹ Cr%₹7525%FY16FY21FY26
Mar 26: ₹7.5 Cr (−32.3% YoY) Quarterly net profit bars, ₹ Cr (left); YoY growth-% line (right). Last 12 quarters. A bar is red when it is lower than the quarter before.
Net profit (quarterly)YoY growth
33203%25140%1777%813%0−50%₹ Cr%₹8−32.3%Jun 23Sep 24Mar 26
33203%25140%1777%813%0−50%₹ Cr%₹8−32.3%Jun 23Sep 24Mar 26

🚨 Why profit moved: revenue contributed +23.5% and the margin −6.7 pp — the quarter was revenue-led despite a thinner margin.

Pace comparison, last four quarters: profit +28.9% vs revenue +8.6%. Profit is growing faster than sales — fixed costs are being spread over a bigger base, and each extra rupee of revenue drops more to the bottom line.

→ Profit rose — but did the cash follow? Next: −12% of the last 3 years' profit arrived as cash.

08 · Cash flow — the router

Cash flow — the router The P&L says what was earned; the cash-flow statement says what actually arrived. Operating cash flow (CFO) against profit is the cleanest lie detector in the accounts.

Over the last 3 fiscal years −12% of Radhika Jeweltech Ltd's reported profit arrived as operating cash — a gap worth watching. In FY26 that was ₹−13.0 Cr of operating cash against ₹75.0 Cr of profit. After ₹1.0 Cr of capital spending, ₹−14.0 Cr was left as free cash.

FY26: operating cash of ₹−13.0 Cr against reported profit of ₹75.0 Cr, leaving free cash of ₹−14.0 Cr after ₹1.0 Cr of capital spending. Across the last 3 fiscal years the conversion rate is −12% of profit.

Cash-flow readings here are annual — that is the resolution our series carries, so this section moves once a year.

FY26: CFO ₹−13.0 Cr vs profit ₹75.0 Cr Operating cash flow and net profit by fiscal year, ₹ Cr; the line is free cash flow (CFO minus capital spending). 11-year window, annual resolution.
−12% of 3-year profit arrived as cash
Operating cashNet profitFree cash
87442−40−83₹ Cr₹−13₹75₹−14FY16FY21FY26
87442−40−83₹ Cr₹−13₹75₹−14FY16FY21FY26
FY26: CFO = −17% of profit (three-year rate −12%) Operating cash as a share of net profit, per fiscal year, % (line). Dashed line = 100% — every unit of profit arriving as cash; outlier years shown pinned.
Conversion100%
387%71%−245%−560%−876%%−17%FY16FY21FY26
387%71%−245%−560%−876%%−17%FY16FY21FY26

🚨 Why conversion sits at −12%: the cash cycle tightened 148 days between FY21 and FY26 — cash that used to wait in the cycle now reaches the bank sooner. Less than 70% of profit arriving as cash is the thing to watch on this page.

Router verdict: no single sink dominates — the next section checks both the working-capital cycle and the capital spending.

→ So follow the cash to where it goes. Next: a 328-day cycle and ₹1.0 Cr of building.

09 · Where the cash goes

Where the cash goes Working capital is the cash tied up between paying suppliers and getting paid: debtor days (customers owe), inventory days (stock waits), and the cash conversion cycle (the whole loop, in days of sales).

Radhika Jeweltech Ltd's cash conversion cycle runs 328 days in FY26, down from 476 days in FY21. Capital spending ran ₹1.0 Cr over the last 3 years. At FY26 sales of ₹639 Cr each day of that cycle holds about ₹1.8 Cr, so roughly ₹574 Cr sits inside the business at any moment.

FY26: debtors at 1 days, inventory at 339 days — roughly 11.2 months of stock waiting to sell; that is where the cash sits while it waits — for a full cycle of 328 days, tighter than FY21's 476.

The full loop: cash goes out to suppliers and production on day 0; stock waits 339 days to sell; customers pay about 1 days after that; and suppliers themselves are paid at 11 days — netting out to the 328-day cycle.

In money terms: at FY26 sales of ₹639 Cr, each day of the cycle holds about ₹1.8 Cr — so the 328-day loop keeps roughly ₹574 Cr sitting inside the business at any moment.

FY26: a 328-day cash cycle Debtor days, inventory days, payable days and the cash conversion cycle by fiscal year. 12-year window.
−148 days vs FY21
Cash cycleInventory daysDebtor daysPayable days
518379240101−38days328d339d1d11dFY15FY17FY20FY23FY26
518379240101−38days328d339d1d11dFY15FY20FY26

On the investment side: capital spending of ₹1.0 Cr over the last 3 fiscal years against ₹6.0 Cr of depreciation — spending at or below maintenance level. Capital work-in-progress stands at ₹0.0 Cr (FY26) — capacity paid for but not yet earning.

FY26: capex ₹1.0 Cr, work-in-progress ₹0.0 Cr Capital spending per fiscal year, ₹ Cr (bars); capital work-in-progress, ₹ Cr (line). Quarterly capital-spending history is not held for India — annual is the honest resolution.
steady investment
CapexWork-in-progress
151172−2₹ Cr₹1₹0FY16FY18FY21FY23FY26
151172−2₹ Cr₹1₹0FY16FY21FY26

The synthesis: neither the cycle nor the build-out is hoarding the cash — the machine is reasonably clean.

→ Does all this activity actually earn its cost of capital? Next: ROCE is 25% and the ROIC − WACC spread is +6.4 pp.

10 · Return on capital

Return on capital Return on capital employed (ROCE) is the profit the whole business earns on all the money in it — equity and debt together. It is the single best test of whether growth creates value or just size.⚠ unverified

Radhika Jeweltech Ltd earns a ROCE of 25% in FY26. That is up from a trough of 8% in FY17. Return on invested capital clears the cost of that capital by +6.4 percentage points, so growth here adds value rather than only size. The wiring behind it is 11.7% net margin on 1.33× asset turns.

FY26 ROCE is 25%, recovered from a FY17 trough of 8% — the full ladder below shows the fall and the climb, undoctored.

Why the return is what it is — the wiring (FY26): 11.7% net margin × 1.33× asset turns × 1.21× balance-sheet leverage ≈ 18.8% on equity. Margin does its share; leverage is modest — this is an earned return, not a borrowed one.

The capstone test — ROIC − WACC: 18.4% − 12.0% = a +6.4 pp spread. The 12.0% is a standing assumption for the cost of capital in India, not a per-stock estimate — read the sign and the size of the spread, not the decimals. A spread this wide means every rupee reinvested creates more than a rupee of value — the engine compounds.

FY26: ROCE 25% Return on capital employed by fiscal year, % (line); ROIC by fiscal year, % (line). 11-year window, dips included. Dashed line = the 12.0% cost of capital used on this page.
the climb back from FY17's 8%
ROCEROIC (annual)WACC
27%22%17%12%6.6%%25%18.7%FY16FY21FY26
27%22%17%12%6.6%%25%18.7%FY16FY21FY26
Q4 FY26: ROCE 25.1% (TTM) vs WACC 12.0% Trailing-twelve-month ROCE and ROIC, per quarter, %; dashed line = the cost of capital. Last 12 quarters, put on a trailing-twelve-month basis and anchored to the annual figure.
ROCE (TTM)ROIC (TTM)WACC
29%24%20%15%11%%25.1%22.7%Q1 FY24Q2 FY25Q4 FY26
29%24%20%15%11%%25.1%22.7%Q1 FY24Q2 FY25Q4 FY26

→ Returns like these — is the balance sheet borrowing to make them? Next: debt-to-equity is 0.15.

11 · Debt

Debt Debt-to-equity says how much of the business is funded by borrowings. Low is the safe corner; the trend matters as much as the level.⚠ unverified

Radhika Jeweltech Ltd carries total debt of ₹58.0 Cr against shareholder equity of ₹398 Cr as of Mar 26, a debt-to-equity of 0.15 — effectively unlevered. On the annual view that ratio went from 0.12 in FY22 to 0.15 in FY26. The returns elsewhere on this page are therefore earned rather than borrowed.

Mar 26: total debt of ₹58.0 Cr against shareholder equity of ₹398 Cr — a debt-to-equity of 0.15. On the annual view, debt-to-equity went from 0.12 (FY22) to 0.15 (FY26). The returns on this page are earned, not borrowed.

FY26: debt ₹58.0 Cr at 0.15× equity Total debt by fiscal year, ₹ Cr (bars); debt-to-equity, × (line). 5-year window.
Total debtDebt-to-equity
630.20×470.18×310.15×160.13×00.11×₹ Cr×₹580.15×FY22FY24FY26
630.20×470.18×310.15×160.13×00.11×₹ Cr×₹580.15×FY22FY24FY26
Mar 26: debt ₹58.0 Cr, debt-to-equity 0.15 Total debt per quarter, ₹ Cr (bars); debt-to-equity, × (line). Last 12 quarters. India reports the full balance sheet half-yearly, so the intervening quarter carries the prior reading forward.
Total debt (quarterly)Debt-to-equity
630.22×470.19×310.17×160.14×00.11×₹ Cr×₹580.15×Jun 23Sep 24Mar 26
630.22×470.19×310.17×160.14×00.11×₹ Cr×₹580.15×Jun 23Sep 24Mar 26

→ Who owns this, and are they adding or leaving? Next: Promoters cut 6.0 points over 8 quarters.

12 · Ownership

Ownership Who owns the stock, quarter by quarter: promoters (the controlling owners), foreign and domestic institutions, and the public. Steady accumulation by people close to the numbers is a signal; a quiet register is also an answer.

Promoters cut 6.0 points of Radhika Jeweltech Ltd over 8 quarters, the biggest move on the register. That takes promoters to 57.7% of the company. Foreign institutions moved +0.0 points over the same window, to 0.0%. The register is read on the four disclosed classes only; nothing is inferred between filings.

The register over the last two years — Promoters: −6.0 points over 8 quarters to 57.7%; Foreign institutions: +0.0 points over 8 quarters to 0.0%; Domestic institutions: +0.0 points over 8 quarters to 0.0%.

🚨 Why the register moved: promoters drove it (−6.0 points) — distribution into the market’s bid.

Fiscal-year ends: promoters −6.0 pts from Mar 24 to Mar 26 Shareholding at each fiscal-year end (March quarter), % of the company. 3 year-ends held.
PromotersForeign inst.Domestic inst.Public
69%50%32%13%−5.1%%57.7%0.1%0%42.2%Mar 24Mar 25Mar 26
69%50%32%13%−5.1%%57.7%0.1%0%42.2%Mar 24Mar 25Mar 26
Promoters cut 6.0 points over 8 quarters Shareholding by holder class, % of the company, quarterly, last 13 quarters.
PromotersForeign inst.Domestic inst.Public
69%50%32%13%−5.1%%57.7%0.0%0.0%42.3%Jun 23Dec 24Jun 26
69%50%32%13%−5.1%%57.7%0.0%0.0%42.3%Jun 23Dec 24Jun 26

→ One last check: does the safety math agree? Next: the balance-sheet safety line.

13 · Safety line

Safety line The Z-score estimates how far a company sits from balance-sheet distress — above roughly 3 is safe, below roughly 1.8 is the danger zone. It was built for manufacturers, so it is not applied to banks and lenders.

Radhika Jeweltech Ltd: the Z-score is not available for this stock, so we say so rather than invent one. It is a distance-to-distress estimate from the balance sheet, not a forecast of failure. The debt, cash-flow and return sections above carry the balance-sheet evidence this page does hold, and each of them states its own reporting date.

The safety line in one sentence: the Z-score is not available for this stock, so we say so rather than invent one.

Related companies · same sector · Diamond, Gems & Jewellery Every company is compared on the shape of its own curves, not static ratios. The Revenue, EPS and ROCE columns each draw that company's last 12 quarters as a mini line of the ACTUAL level (trailing-twelve-month revenue and EPS, and the ROCE itself) — so a line that climbs is a business getting bigger, a line that sinks is one shrinking. The colour tracks the same line: green when it is rising or steadily healthy, amber when it is rolling over from a high (still elevated but turning down), red when it is falling, grey when flat or stuck. Colour and direction always agree — a green line never points down. The ROCE curve is the return on capital (annual readings for peers, so a slightly coarser line than the quarterly one at the top of this page). The Stage column then runs the same 12-quarter trajectory classifier used at the top of the page on each company and names where it sits. What lands a company in each bucket: CONSISTENT — growth stays positive across the window and returns are healthy (ROCE ≥ 15%, or ROE ≥ 12% for lenders); IMPROVING — profit or EPS fell into real decline, bottomed a few quarters back, and has climbed back to positive and held there; TURNING AROUND — the same kind of trough but more recent, with the latest quarters just lifting off it (an early, unconfirmed turn); TOPPING OUT — growth is still positive but decelerating hard from its own peak while returns have stopped rising; DETERIORATING — two or more growth curves are shrinking (latest below zero) and staying there, not one soft quarter; MIXED — the curves genuinely disagree, or no clean majority, so no single word fits; NO READ — fewer than eight usable quarters. It is a like-for-like read of every company against its own past, not a ranking against the group.
CompanyP/EMkt capRevenueEPSROCEStage
Radhika Jeweltech Ltd this page10.0×₹751 CrConsistent
Titan Company Ltd80.6×₹4.2L CrTurning around
Kalyan Jewellers India Ltd43.0×₹59,233 CrConsistent
Thangamayil Jewellery Ltd60.7×₹21,467 CrImproving
Bluestone Jewellery & Lifestyle Ltd209.0×₹11,772 CrNo read
Sky Gold & Diamonds Ltd36.8×₹10,124 CrMixed
PC Jeweller Ltd12.6×₹9,011 CrNo read
P N Gadgil Jewellers Ltd21.3×₹8,780 CrMixed
Senco Gold Ltd10.9×₹6,273 CrTurning around
Vaibhav Global Ltd15.7×₹4,216 CrImproving
Rajesh Exports Ltd20.9×₹3,510 CrImproving
D.P. Abhushan Ltd74.8×₹3,032 CrConsistent
Rajesh Exports Ltd23.3×₹2,626 CrMixed
D.P. Abhushan Ltd12.3×₹2,295 CrConsistent
Shringar House of Mangalsutra Ltd18.3×₹2,118 CrNo read
Khazanchi Jewellers Ltd24.0×₹1,836 CrNo read
Tribhovandas Bhimji Zaveri Ltd8.5×₹1,728 CrNo read
Khazanchi Jewellers Ltd18.6×₹1,666 CrNo read
Motisons Jewellers Ltd25.2×₹1,612 CrMixed
Shanti Gold International Ltd10.9×₹1,523 CrNo read
PNGS Reva Diamond Jewellery Limited19.9×₹1,287 Cr
Utssav CZ Gold Jewels Ltd21.1×₹1,248 CrNo read
Asian Star Company Ltd24.0×₹971 CrTurning around
PNGS Gargi Fashion Jewellery Ltd25.8×₹785 CrMixed
SJ Corporation Ltd₹776 Cr
Manoj Vaibhav Gems N Jewellers Ltd6.6×₹761 CrTopping out
PNGS Gargi Fashion Jewellery Ltd21.8×₹685 CrTopping out
RBZ Jewellers Ltd10.3×₹564 CrMixed
Uday Jewellery Industries Ltd13.7×₹491 CrMixed
Golkunda Diamonds & Jewellery Ltd16.0×₹195 CrMixed
12 · Frequently asked questions

Frequently asked questions

What is Radhika Jeweltech Ltd's share price today?

Radhika Jeweltech Ltd trades at ₹65.9, −33.7% over the past year. The company is valued at ₹751 Cr. The stock sits at 30% of its 52-week range of ₹54–₹94, −3.8% versus its 200-day average. On the tape, the price is in a downtrend, 39 weeks in. — as of 24 July 2026.

What were Radhika Jeweltech Ltd's latest quarterly results?

Radhika Jeweltech Ltd reported revenue of ₹193 Cr and net profit of ₹7.5 Cr for the Mar 26 quarter. Revenue rose 23.5% and profit fell 32.3% year on year. Earnings per share were ₹0.64. The operating margin was 5.7%, 6.7 pp lower than a year earlier. — as of 24 July 2026.

What is Radhika Jeweltech Ltd's revenue?

Radhika Jeweltech Ltd reported revenue of ₹193 Cr in the Mar 26 quarter, +23.5% year on year. For the full FY26 fiscal year, revenue was ₹639 Cr (+8.7%). Over the last 10 years revenue compounded at 16.7% a year. — as of 24 July 2026.

What is Radhika Jeweltech Ltd's profit?

Radhika Jeweltech Ltd earned ₹7.5 Cr of net profit in the Mar 26 quarter, −32.3% year on year. Full-year FY26 profit was ₹75.0 Cr. The operating margin ran 5.7% in the latest quarter. — as of 24 July 2026.

What is Radhika Jeweltech Ltd's market cap?

Radhika Jeweltech Ltd's market capitalisation is ₹751 Cr at a share price of ₹65.9. Market cap is the share price multiplied by shares outstanding, so it is restated whenever the price moves. — as of 24 July 2026.

What is Radhika Jeweltech Ltd's P/E ratio?

Radhika Jeweltech Ltd trades at a P/E of 10.0×, at the 45th percentile of its own 9-year range, against a long-run median of 10.9×. This is a comparison with the stock's own history, not a value call — as of 24 July 2026.

Does Radhika Jeweltech Ltd pay a dividend?

Not in its latest year — Radhika Jeweltech Ltd's dividend payout was 0% of profit in FY26. It did record a payout in 3 of its last 12 reported fiscal years, so there is a history but no current dividend. This page holds the payout ratio, not a per-share amount. — as of 24 July 2026.

Is Radhika Jeweltech Ltd overvalued?

On its own history, Radhika Jeweltech Ltd looks mid-range against its own history: its P/E of 10.0× sits at the 45th percentile of its 9-year range (long-run median 10.9×). That is a percentile read against the stock's own past, not a price opinion or a direction call. — as of 24 July 2026.

Is Radhika Jeweltech Ltd growing?

Not right now — Radhika Jeweltech Ltd's latest numbers are shrinking: latest-quarter revenue +23.5% year on year, profit −32.3%, and the margin −6.7 pp at 5.7%. The 10-year compound rates are 16.7% (revenue) and 38.0% (profit). The earnings engine currently reads: deteriorating — as of 24 July 2026.

How is Radhika Jeweltech Ltd performing?

Radhika Jeweltech Ltd is in a downtrend, 39 weeks in. Its latest quarter's revenue rose 23.5% and profit fell 32.3% year on year. Against the NIFTY 500 it has been ahead on a trailing-13-week view for 2 weeks. This describes what the data did, not a rating. — as of 24 July 2026.

What stage is Radhika Jeweltech Ltd in?

Consistent — revenue, profit and EPS growth have stayed positive through the window, with ROCE at 25.0% and holding. The read comes from the last 12 quarters of growth (revenue growth +8.7% latest, profit growth +30.0% latest, eps growth +29.9% latest) plus the ROCE curve, classified by deterministic rules — a trajectory read, not a buy or sell call — as of 24 July 2026.

Is Radhika Jeweltech Ltd in an uptrend?

No — the price is in a downtrend (week 39 of stage 4), trading −3.8% versus its 200-day average and at 30% of its 52-week range. Price stages cycle base → advance → top → decline, and the stage names where this stock sits in that cycle — as of 24 July 2026.

Is Radhika Jeweltech Ltd beating the market?

On recent form, yes — Radhika Jeweltech Ltd has been ahead of the NIFTY 500 on a trailing-13-week view for 2 straight weeks, the same metric the week-by-week ribbon on this page draws. Separately, on the cumulative view: over the last 9.8 years the stock moved +367% against the NIFTY 500's +208% — ahead of the index over the full window. — as of 24 July 2026.

Will Radhika Jeweltech Ltd's share price go up?

This page publishes no price forecast for Radhika Jeweltech Ltd. What it measures instead: the share price is ₹65.9, the price is in a downtrend 39 weeks in. Its P/E of 10.0× sits at the 45th percentile of its own 9-year range. — as of 24 July 2026.

Who owns Radhika Jeweltech Ltd?

Promoters hold 57.7% of Radhika Jeweltech Ltd, foreign institutions 0.0%, domestic institutions 0.0% and the public 42.3% (latest quarter). The biggest move on the register over the last two years: Promoters cut 6.0 points over 8 quarters. — as of 24 July 2026.

Does Radhika Jeweltech Ltd have too much debt?

No — Radhika Jeweltech Ltd's debt-to-equity is 0.15, and operating profit covers the interest bill 52×. FY26 borrowings were ₹58.0 Cr against equity of ₹398 Cr. The returns on this page are earned, not borrowed — as of 24 July 2026.

What is Radhika Jeweltech Ltd's capex?

Radhika Jeweltech Ltd spent ₹1.0 Cr on capital expenditure over the last 3 fiscal years, a figure derived from the change in fixed assets plus depreciation. In FY26 alone that was ₹1.0 Cr, with ₹0.0 Cr in capital work-in-progress — capacity paid for but not yet earning. — as of 24 July 2026.

What is Radhika Jeweltech Ltd's cash flow?

Radhika Jeweltech Ltd generated ₹−13.0 Cr of operating cash flow in FY26 and ₹−14.0 Cr of free cash flow after ₹1.0 Cr of capital spending. Reported profit that year was ₹75.0 Cr, so operating cash ran behind profit. Cash-flow resolution for India is annual. — as of 24 July 2026.

Is Radhika Jeweltech Ltd's profit real cash?

Not fully — over the last 3 fiscal years, −12% of Radhika Jeweltech Ltd's reported profit arrived as operating cash. In FY26, operating cash was ₹−13.0 Cr against reported profit of ₹75.0 Cr. The cash then goes into a mix of the working-capital cycle and capacity. Cash-flow resolution is annual — as of 24 July 2026.

Where is Radhika Jeweltech Ltd in its business cycle?

Radhika Jeweltech Ltd's FY26 operating margin was 16.0%, against a 12-year band of 7.0%–17.0%: mid-band by its own history — neither the peak that precedes mean-reversion nor the trough that precedes recovery. The latest quarter ran 5.7%. Profitability versus a company's own long band is the cleanest cycle clock this page holds — as of 24 July 2026.

What could break the Radhika Jeweltech Ltd story?

The sharpest disagreement: annual EPS moved +24.6% against a −33.7% price move — the market has not yet caught up with the delivery. Mechanically, two Friday closes in a row below the 200-day average would end the price trend — that is the exit rule this page tracks — as of 24 July 2026.

Is Radhika Jeweltech Ltd a stock worth studying right now?

This is not investment advice. The machine read: Radhika Jeweltech Ltd's three tracks disagree. Price, valuation and the earnings engine each tell a different story — the next quarter or two settles it. The sharpest open question: whether the price catches up with earnings that have already moved. Every number on this page is drawn deterministically from the raw series, with no forecasts and no price opinions — as of 24 July 2026.

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