20-quarter listed-company comparison

Diamond, Gems & Jewellery Stocks in India

Diamond, Gems & Jewellery: Rajesh Exports Ltd owns the largest revenue base; Thangamayil Jewellery Ltd has the fastest current growth.

The 11 Jewellery companies listed in India are Thangamayil Jewellery Ltd (₹16.0K Cr, the largest), Senco Gold Ltd, Vaibhav Global Ltd and 8 more. 8 of 11 covered companies beat NIFTY 500 on relative strength. Readings are as of 28 Sep 2026.

Top 10 Jewellery Stocks in India (Sep 2026) — ranked by 4-Factor score

1D.P. Abhushan Ltd₹3.2K Cr74.6/100Favorable setup · strongest on ROCE and PEG
2Khazanchi Jewellers Ltd₹2.0K Cr73.7/100Favorable setup · strongest on ROCE and relative strength versus sector
3Thangamayil Jewellery Ltd₹16.0K Cr62.2/100Mixed-positive evidence · strongest on ROCE improvement and profit growth
4Senco Gold Ltd₹5.4K Cr59.4/100Mixed-positive evidence · strongest on ROCE improvement and profit growth
5Vaibhav Global Ltd₹3.5K Cr55.9/100Mixed-positive evidence · strongest on PEG and own-history P/E
6Golkunda Diamonds & Jewellery Ltd₹195 Cr54.2/100Thin evidence · provisional · strongest on relative strength versus sector and relative strength versus the benchmark
7Shringar House of Mangalsutra Ltd₹2.1K Cr46.6/100Mixed-negative evidence · strongest on ROCE and revenue growth
8PNGS Gargi Fashion Jewellery Ltd₹643 Cr45.4/100Mixed-negative evidence · strongest on ROCE and operating margin
9Rajesh Exports Ltd₹2.0K Cr33.8/100Adverse evidence · strongest on revenue growth and sector-relative P/E
10Asian Star Company Ltd₹1.1K Cr32.5/100Adverse evidence · strongest on 13-week relative-strength change and financial resilience

Ranked by the 4-Factor Sector Score (growth & earnings 35, capital efficiency 25, valuation 20, relative strength 20). Prices as of 25 Sep 2026. Not investment advice.

01 · the index people search for

Nifty Diamond, Gems & Jewellery Index — Constituents & Performance

All 11 listed Indian Diamond, Gems & Jewellery companies are named here, largest first — the same constituent set people search for as the Nifty Diamond, Gems & Jewellery index. Every figure is equal-weighted across those companies and carries its own as-of date. One large constituent cannot set the reading.

Thangamayil Jewellery Ltd₹16.0K Cr
Senco Gold Ltd₹5.4K Cr
Vaibhav Global Ltd₹3.5K Cr
D.P. Abhushan Ltd₹3.2K Cr
Shringar House of Mangalsutra Ltd₹2.1K Cr
Rajesh Exports Ltd₹2.0K Cr
Khazanchi Jewellers Ltd₹2.0K Cr
Asian Star Company Ltd₹1.1K Cr
SJ Corporation Ltd₹824 Cr
PNGS Gargi Fashion Jewellery Ltd₹643 Cr
Golkunda Diamonds & Jewellery Ltd₹195 Cr

02 · the sector itself · before any single company

How has Diamond, Gems & Jewellery moved against NIFTY 500?

The line below covers up to 5.2 years and opens on the 5Y view; the buttons cut it shorter. Over the most recent two of them this sector is 32% ahead of NIFTY 500. Earnings across its companies grew 55% on average over the last four reported quarters. It has been ahead of NIFTY 500 on a rolling three-month view for 18 weeks running.

LEADER · ahead 18w✓Price and the fundamentals both up19 of 24 companies ahead of NIFTY 500 by 5% or more over three months3 are 20% or more behind over a year while earnings grew 20% or more

RS ↑18w · 19/24 >200d (+1) · 19/24 lead (+2) · EPS 19/22↑

Diamond, Gems & Jewellery, equal-weighted, based at 200 NIFTY 500, same base, same start trailing 12-month earnings per share rising falling

Both lines start at 200 in the same week, so the distance between them is the whole story: the sector line is an equal-weighted index of its 24 companies. The bars underneath are trailing 12-month earnings per share, one bar per reported quarter, each member rebased to 100 at the start and the sector taking the median — so a price line pulling away from flat bars is a re-rating, not earnings. A bar turns red when that figure is lower than the quarter before. Rules are fixed and applied identically everywhere on this site: ahead by 5% or more over three months, or behind by 20% or more over a year while earnings grew 20% or more. Hover any point to read both values and the gap. This is a description of what the numbers did, not advice.

03 · sector relative strength, before individual stocks

Is Diamond, Gems & Jewellery outperforming NIFTY 500?

Diamond, Gems & Jewellery has outperformed NIFTY 500 by 35% over the last 52 weeks. Over 13 weeks the gap is a lead of 13.5%. 8 of 11 covered companies currently beat NIFTY on Mansfield relative strength, so leadership inside the sector is selective. Golkunda Diamonds & Jewellery Ltd is the strongest against the sector itself at +51.3%.

+13.5%Sector vs NIFTY 500 · 13 weeks

+35.0%Sector vs NIFTY 500 · 52 weeks

8/11Stocks leading NIFTY 500

3/10Stocks leading sector

Sector metric: — as of latest available · unclassified · direction unavailable.

The central tension: the companies with the most scale are not necessarily the companies creating the most change.

Start with scale. Then earnings trajectory. Then business quality. Only after those three agree should price leadership carry much weight.

Bottom line

Diamond, Gems & Jewellery has outperformed NIFTY 500 by 35% over 52 weeks and 13.5% over 13 weeks. 8 of 11 covered companies beat NIFTY on Mansfield relative strength, while 3 of 10 beat the sector itself. Rajesh Exports Ltd leads with revenue of ₹8,87,510 crore, based on 10 of 11 comparable companies through Jun 2026.

Companies

complete canonical membership

Combined market value

₹36.8K Cr

Thangamayil Jewellery Ltd

Revenue growing

9/10

positive TTM year-on-year growth

Beating NIFTY 500

8/11

positive Mansfield relative strength

Comparing 5 of 11

04 · research priority, made explicit

4-Factor Sector Score

An additive sector-relative research score. The four displayed point contributions always equal the total: Growth & earnings (35), Capital efficiency (25), Valuation (20), and Relative strength (20). Missing or stale evidence is absorbed inside the affected factor, never applied as a hidden adjustment.

Growth & earnings · 35%Capital efficiency · 25%Valuation · 20%Relative strength · 20%

D.P. Abhushan Ltd has the strongest current balance of earnings trajectory, business quality, valuation and price confirmation, with 100% evidence confidence.

Golkunda Diamonds & Jewellery Ltd has stronger price confirmation than earnings confirmation; that is a research prompt, not permission to chase.

How this score is built, and what the marks mean

Missing observations are not scored as bad. Their missing weight lowers confidence and pulls the final score toward neutral. PEG is not shown when the ratio cannot mean anything: the company must be making a profit, its price-to-earnings must be positive, and its three-year earnings growth must fall between 5% and 60%. Dividing a price multiple by a loss, or by growth measured off a tiny base, produces a number that looks precise and tells you nothing. Under relative strength, one mark per week shows the last 12 weeks: a mark is filled where the company led NIFTY 500 by 5% or more over the 13 weeks ending that week, which is the same test used everywhere on this site. Price stage places the company on the same six-step curve the sector itself is placed on — basing, turning, breaking out, leader, fading, asleep — read from how many weeks running it has led NIFTY 500 and whether that lead is widening or shrinking. It describes where the PRICE stands, not the earnings trajectory and not a recommendation, and it is left blank for a company whose weekly history is too short or too stale to read.

Company	Score	Price stage	Growth & earnings/35	Capital efficiency/25	Valuation/20	Relative strength/20
1D.P. Abhushan LtdDPABHUSHAN	74.6/100Favorable setup100% evidence	BREAKING OUT	25.9/35 Revenue 30.8% · PAT 94.3% · OPM change 1 pp 100% evidence	18.5/25 ROCE 39.6% · OPM 11% 100% evidence	14.9/20 P/E 13.2× · PEG 0.68 100% evidence	15.3/20 RS sector -0.5% · RS bench 15.6% · 1Y -10%11 of 12 weeks ahead 100% evidence
Exact sum: 25.9 + 18.5 + 14.9 + 15.3 = 74.6 · Decision use: Confirmed research leader: earnings, capital efficiency and relative strength agree. Move to management, catalyst and risk diligence.
2Khazanchi Jewellers LtdKHAZANCHI	73.7/100Favorable setup76% evidence		27.9/35 Revenue 24.4% · PAT 100% · OPM change 2 pp 95% evidence	17.8/25 ROCE 34.8% · OPM 7% 76% evidence	12.9/20 P/E 19.4× · PEG — 50% evidence	15.1/20 RS sector 15.7% · RS bench 14.7% · 1Y 36.4%12 of 12 weeks ahead to 2026-08-23 70% evidence
Exact sum: 27.9 + 17.8 + 12.9 + 15.1 = 73.7 · Decision use: Confirmed research leader: earnings, capital efficiency and relative strength agree. Move to management, catalyst and risk diligence.
3Thangamayil Jewellery LtdTHANGAMAYL	62.2/100Mixed-positive evidence100% evidence	FADING	27.6/35 Revenue 83.2% · PAT 100% · OPM change -1 pp 100% evidence	13.1/25 ROCE 25.5% · OPM 5% 100% evidence	9.4/20 P/E 40.6× · PEG 0.77 100% evidence	12.1/20 RS sector 12.6% · RS bench 28.1% · 1Y 138.3%8 of 12 weeks ahead 100% evidence
Exact sum: 27.6 + 13.1 + 9.4 + 12.1 = 62.2 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
4Senco Gold LtdSENCO	59.4/100Mixed-positive evidence100% evidence	TURNING	25.2/35 Revenue 43.1% · PAT 100% · OPM change -3 pp 100% evidence	12.7/25 ROCE 21.2% · OPM 7% 100% evidence	13.7/20 P/E 9.5× · PEG 1.35 100% evidence	7.8/20 RS sector -12% · RS bench 2% · 1Y -11.3%5 of 12 weeks ahead 100% evidence
Exact sum: 25.2 + 12.7 + 13.7 + 7.8 = 59.4 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
5Vaibhav Global LtdVAIBHAVGBL	55.9/100Mixed-positive evidence100% evidence	ASLEEP	21.1/35 Revenue 10.4% · PAT 73.8% · OPM change 3 pp 100% evidence	13.6/25 ROCE 16.4% · OPM 11% 100% evidence	19.1/20 P/E 12.2× · PEG 0.33 100% evidence	2.1/20 RS sector -20.7% · RS bench -7.9% · 1Y -16.6%4 of 12 weeks ahead 100% evidence
Exact sum: 21.1 + 13.6 + 19.1 + 2.1 = 55.9 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
6Golkunda Diamonds & Jewellery Ltd523676	54.2/100Thin evidence · provisional57% evidence		14.6/35 Revenue 1.3% · PAT -12.4% · OPM change -0.8 pp 53% evidence	13.8/25 ROCE 19.9% · OPM 9.7% 57% evidence	9.1/20 P/E 16× · PEG — 50% evidence	16.7/20 RS sector 51.3% · RS bench 52.8% · 1Y 64.2%9 of 12 weeks ahead to 2026-03-29 70% evidence
Exact sum: 14.6 + 13.8 + 9.1 + 16.7 = 54.2 · Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.
7Shringar House of Mangalsutra LtdSHRINGARMS	46.6/100Mixed-negative evidence74% evidence	BREAKING OUT	15.2/35 Revenue 65.1% · PAT 65.8% · OPM change -3 pp 95% evidence	15.0/25 ROCE 26.8% · OPM 9% 95% evidence	10.0/20 P/E 17.1× · PEG — 15% evidence	6.4/20 RS sector -12.5% · RS bench 1.5% · 1Y 12.9%4 of 12 weeks ahead 70% evidence
Exact sum: 15.2 + 15 + 10 + 6.4 = 46.6 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
8PNGS Gargi Fashion Jewellery Ltd543709	45.4/100Mixed-negative evidence76% evidence	BASING	9.0/35 Revenue 18.3% · PAT 8.7% · OPM change -3.5 pp 95% evidence	19.8/25 ROCE 33.8% · OPM 19.8% 76% evidence	10.7/20 P/E 20.6× · PEG — 50% evidence	5.9/20 RS sector -9% · RS bench -26.3% · 1Y -26.2%0 of 11 weeks ahead 70% evidence
Exact sum: 9 + 19.8 + 10.7 + 5.9 = 45.4 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
9Rajesh Exports LtdRAJESHEXPO	33.8/100Adverse evidence91% evidence	BASING	19.5/35 Revenue 79.5% · PAT 100% · OPM change 0 pp 74% evidence	4.8/25 ROCE 1.9% · OPM 0% 100% evidence	7.9/20 P/E 11.8× · PEG 1.74 100% evidence	1.6/20 RS sector -55.4% · RS bench -47.1% · 1Y -66.7%0 of 12 weeks ahead 100% evidence
Exact sum: 19.5 + 4.8 + 7.9 + 1.6 = 33.8 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
10Asian Star Company LtdASTAR	32.5/100Adverse evidence87% evidence	TURNING	6.3/35 Revenue -3.8% · PAT -23.3% · OPM change -0.9 pp 95% evidence	8.3/25 ROCE 3.6% · OPM 2.1% 95% evidence	6.0/20 P/E 33.8× · PEG — 50% evidence	11.9/20 RS sector -4.7% · RS bench 10.7% · 1Y -2%2 of 12 weeks ahead 100% evidence
Exact sum: 6.3 + 8.3 + 6 + 11.9 = 32.5 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
11SJ Corporation Ltd504398	46.1/100Thin evidence · provisional33% evidence	TURNING	19.1/35 Revenue — · PAT — · OPM change 16.7 pp 17% evidence	6.0/25 ROCE 0.1% · OPM 10.7% 76% evidence	8.5/20 P/E 824× · PEG — 15% evidence	12.5/20 RS sector — · RS bench 127.2% · 1Y —5 of 5 weeks ahead 25% evidence
Exact sum: 19.1 + 6 + 8.5 + 12.5 = 46.1 · Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.

Showing 10 of 11 companies

05 · what price has already done

Market action

Thangamayil Jewellery Ltd has the strongest one-year price move in Diamond, Gems & Jewellery at +138.3%. SJ Corporation Ltd leads on Mansfield relative strength against NIFTY at +127.2%. 8 of 11 covered companies are above zero on that measure. Every line covers 313 weekly closes through 2026-09-25.

Price and relative strength

Every company, the sector's own index and NIFTY 500 all start level on the left edge of the window, so only the distance between the lines counts — the highest line has risen the most since then, and the chart at the top of this page is drawn the same way. It opens on one year; the buttons beside it stretch that to three or five.

06 · the story behind the numbers

Diamond, Gems & Jewellery — the story behind the numbers

This is the written read behind the Diamond, Gems & Jewellery figures above — what is actually happening in the sector, in words, with the evidence each claim rests on. It is dated 22 Aug 2026. It also states what would change this read.

How old this read is: This read comes from our fortnightly sector read dated 22 Aug 2026 — 37 days old. The numbers above it are newer than the words here.

What would change this read

The mid-cycle formalisation call breaks if the gold price stops rising and volume does not step up to replace it.

Sources: our fortnightly Diamond, Gems & Jewellery read, 22 Aug 2026.

07 · compare level, then change

Revenue Scale & Growth Durability

Rajesh Exports Ltd has the highest Revenue among the 11 Diamond, Gems & Jewellery companies compared here, at ₹8,87,510 crore. Senco Gold Ltd is next at ₹9,660 crore. Thangamayil Jewellery Ltd has the highest Revenue growth at 83.2%, so level and change sit with different companies. 10 of 11 companies report a comparable reading, the latest through Jun 2026.

What the numbers say: Rajesh Exports Ltd is the scale leader at ₹8,87,510 crore, 91.9× the revenue of Senco Gold Ltd. Thangamayil Jewellery Ltd's growth is 83.2% from a ₹9,622 crore base, with 20 reported observations in the 20-quarter window. Treat the growth leader as an acceleration candidate, not as equally proven scale.

LeaderRajesh Exports Ltd · ₹8,87,510 crore

Gap91.9× versus #2 · Senco Gold Ltd

Persistence8/8 recent comparable periods

Coverage10/11 companies · 166 observations

Investor read: Rajesh Exports Ltd is the scale benchmark; Thangamayil Jewellery Ltd is the acceleration watch. Promote the challenger only if growth persists and converts into margin and returns.

This conclusion weakens if: Rajesh Exports Ltd's growth falls below Thangamayil Jewellery Ltd's for two consecutive comparable reports while operating margin also compresses.

Revenue is compared on a common reported-currency basis. Growth is year-on-year, so seasonality does not masquerade as progress.

Revenuelargest

1Rajesh Exports Ltd RAJESHEXPO₹8.9 L Cr

2Senco Gold Ltd SENCO₹9.7K Cr

3Thangamayil Jewellery Ltd THANGAMAYL₹9.6K Cr

4D.P. Abhushan Ltd DPABHUSHAN₹4.4K Cr

5Vaibhav Global Ltd VAIBHAVGBL₹3.8K Cr

Revenue growthfastest growers

1Thangamayil Jewellery Ltd THANGAMAYL83%

2Rajesh Exports Ltd RAJESHEXPO80%

3Shringar House of Mangalsutra Ltd SHRINGARMS⚠ unverified65%

4Senco Gold Ltd SENCO43%

5D.P. Abhushan Ltd DPABHUSHAN31%

Revenue · company comparison

10/11 level · 10/11 change

On every company-comparison chart on this page: solid lines show level, dotted lines show change when “Both” is selected, and a missing report breaks the line rather than being invented.

All-company data · latest reported quarter

In every all-company table on this page, each figure is the company’s latest single reported quarter. The rankings above them use trailing-twelve-month or current-market values, so a company can legitimately show a different number in each.

Company	Revenue	Revenue growth	Reported
Rajesh Exports Ltd RAJESHEXPO	₹2.4 L Cr	83%	Jun 2026
Senco Gold Ltd SENCO	₹3.1K Cr	67%	Jun 2026
Thangamayil Jewellery Ltd THANGAMAYL	₹2.7K Cr	71%	Jun 2026
Vaibhav Global Ltd VAIBHAVGBL	₹917 Cr	13%	Jun 2026
D.P. Abhushan Ltd DPABHUSHAN	₹852 Cr	58%	Jun 2026
Asian Star Company Ltd ASTAR⚠ unverified	₹638 Cr	-11%	Jun 2026
Khazanchi Jewellers Ltd KHAZANCHI	₹586 Cr	45%	Jun 2026
Shringar House of Mangalsutra Ltd SHRINGARMS⚠ unverified	₹548 Cr	65%	Jun 2026
Golkunda Diamonds & Jewellery Ltd 523676	₹63 Cr	-15%	Dec 2025
SJ Corporation Ltd 504398	₹55 Cr	832%	Jun 2026
PNGS Gargi Fashion Jewellery Ltd 543709	₹30 Cr	11%	Jun 2026

Full 20-quarter history · every available company

Revenue · reported quarter history

Asian Star Company Ltd · ASTAR⚠ unverified

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022₹808 Cr

Mar 2023₹1.1K Cr

Jun 2023₹924 Cr

Sep 2023₹922 Cr

Dec 2023₹691 Cr

Mar 2024₹986 Cr

Jun 2024₹759 Cr

Sep 2024₹654 Cr

Dec 2024₹688 Cr

Mar 2025₹854 Cr

Jun 2025₹717 Cr

Sep 2025₹759 Cr

Dec 2025₹660 Cr

Mar 2026₹746 Cr

Jun 2026₹638 Cr

D.P. Abhushan Ltd · DPABHUSHAN

Sep 2021₹448 Cr

Dec 2021₹668 Cr

Mar 2022₹440 Cr

Jun 2022₹433 Cr

Sep 2022₹485 Cr

Dec 2022₹672 Cr

Mar 2023₹385 Cr

Jun 2023₹471 Cr

Sep 2023₹546 Cr

Dec 2023₹765 Cr

Mar 2024₹557 Cr

Jun 2024₹505 Cr

Sep 2024₹1.0K Cr

Dec 2024₹1.1K Cr

Mar 2025₹717 Cr

Jun 2025₹540 Cr

Sep 2025₹968 Cr

Dec 2025₹1.2K Cr

Mar 2026₹1.3K Cr

Jun 2026₹852 Cr

Golkunda Diamonds & Jewellery Ltd · 523676

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022₹56 Cr

Mar 2023₹56 Cr

Jun 2023₹55 Cr

Sep 2023₹44 Cr

Dec 2023₹50 Cr

Mar 2024₹81 Cr

Jun 2024₹60 Cr

Sep 2024₹57 Cr

Dec 2024₹74 Cr

Mar 2025₹62 Cr

Jun 2025₹69 Cr

Sep 2025₹81 Cr

Dec 2025₹63 Cr

Mar 2026—

Jun 2026—

Khazanchi Jewellers Ltd · KHAZANCHI

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023—

Jun 2023₹187 Cr

Sep 2023—

Dec 2023₹208 Cr

Mar 2024—

Jun 2024₹381 Cr

Sep 2024₹375 Cr

Dec 2024₹394 Cr

Mar 2025₹622 Cr

Jun 2025₹404 Cr

Sep 2025₹549 Cr

Dec 2025₹589 Cr

Mar 2026₹508 Cr

Jun 2026₹586 Cr

PNGS Gargi Fashion Jewellery Ltd · 543709

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022₹7 Cr

Dec 2022₹10 Cr

Mar 2023₹7 Cr

Jun 2023₹7 Cr

Sep 2023₹11 Cr

Dec 2023₹18 Cr

Mar 2024₹15 Cr

Jun 2024₹44 Cr

Sep 2024₹23 Cr

Dec 2024₹36 Cr

Mar 2025₹23 Cr

Jun 2025₹27 Cr

Sep 2025₹46 Cr

Dec 2025₹46 Cr

Mar 2026₹30 Cr

Jun 2026₹30 Cr

Rajesh Exports Ltd · RAJESHEXPO

Sep 2021₹41.2K Cr

Dec 2021₹65.2K Cr

Mar 2022₹85.8K Cr

Jun 2022₹49.5K Cr

Sep 2022₹1.3K Cr

Dec 2022₹94.5K Cr

Mar 2023₹1.2 L Cr

Jun 2023₹85.7K Cr

Sep 2023₹38.1K Cr

Dec 2023₹65.5K Cr

Mar 2024₹91.4K Cr

Jun 2024₹60.4K Cr

Sep 2024₹66.9K Cr

Dec 2024₹96.6K Cr

Mar 2025₹2.0 L Cr

Jun 2025₹1.3 L Cr

Sep 2025₹1.8 L Cr

Dec 2025₹2.4 L Cr

Mar 2026₹2.4 L Cr

Jun 2026₹2.4 L Cr

Senco Gold Ltd · SENCO

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022₹1.0K Cr

Sep 2022₹911 Cr

Dec 2022₹1.3K Cr

Mar 2023₹814 Cr

Jun 2023₹1.3K Cr

Sep 2023₹1.1K Cr

Dec 2023₹1.7K Cr

Mar 2024₹1.1K Cr

Jun 2024₹1.4K Cr

Sep 2024₹1.5K Cr

Dec 2024₹2.0K Cr

Mar 2025₹1.4K Cr

Jun 2025₹1.8K Cr

Sep 2025₹1.5K Cr

Dec 2025₹3.1K Cr

Mar 2026₹2.0K Cr

Jun 2026₹3.1K Cr

Shringar House of Mangalsutra Ltd · SHRINGARMS⚠ unverified

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023—

Jun 2023—

Sep 2023—

Dec 2023—

Mar 2024—

Jun 2024₹271 Cr

Sep 2024₹416 Cr

Dec 2024₹391 Cr

Mar 2025₹351 Cr

Jun 2025₹333 Cr

Sep 2025₹529 Cr

Dec 2025₹659 Cr

Mar 2026₹726 Cr

Jun 2026₹548 Cr

SJ Corporation Ltd · 504398

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023—

Jun 2023—

Sep 2023—

Dec 2023—

Mar 2024—

Jun 2024—

Sep 2024—

Dec 2024—

Mar 2025₹8 Cr

Jun 2025₹6 Cr

Sep 2025—

Dec 2025₹7 Cr

Mar 2026₹8 Cr

Jun 2026₹55 Cr

Thangamayil Jewellery Ltd · THANGAMAYL

Sep 2021₹705 Cr

Dec 2021₹631 Cr

Mar 2022₹609 Cr

Jun 2022₹826 Cr

Sep 2022₹813 Cr

Dec 2022₹745 Cr

Mar 2023₹772 Cr

Jun 2023₹960 Cr

Sep 2023₹993 Cr

Dec 2023₹896 Cr

Mar 2024₹983 Cr

Jun 2024₹1.2K Cr

Sep 2024₹1.2K Cr

Dec 2024₹1.1K Cr

Mar 2025₹1.4K Cr

Jun 2025₹1.6K Cr

Sep 2025₹1.7K Cr

Dec 2025₹2.4K Cr

Mar 2026₹2.8K Cr

Jun 2026₹2.7K Cr

Vaibhav Global Ltd · VAIBHAVGBL

Sep 2021₹641 Cr

Dec 2021₹751 Cr

Mar 2022₹672 Cr

Jun 2022₹630 Cr

Sep 2022₹646 Cr

Dec 2022₹724 Cr

Mar 2023₹693 Cr

Jun 2023₹658 Cr

Sep 2023₹705 Cr

Dec 2023₹888 Cr

Mar 2024₹789 Cr

Jun 2024₹756 Cr

Sep 2024₹796 Cr

Dec 2024₹977 Cr

Mar 2025₹850 Cr

Jun 2025₹814 Cr

Sep 2025₹877 Cr

Dec 2025₹1.1K Cr

Mar 2026₹935 Cr

Jun 2026₹917 Cr

Revenue growth · reported quarter history

Asian Star Company Ltd · ASTAR⚠ unverified

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023—

Jun 2023—

Sep 2023—

Dec 2023-15%

Mar 2024-8.6%

Jun 2024-18%

Sep 2024-29%

Dec 2024-0.4%

Mar 2025-13%

Jun 2025-5.5%

Sep 202516%

Dec 2025-4.1%

Mar 2026-13%

Jun 2026-11%

D.P. Abhushan Ltd · DPABHUSHAN

Sep 2021160%

Dec 202161%

Mar 2022-26%

Jun 2022147%

Sep 20228.2%

Dec 20220.6%

Mar 2023-12%

Jun 20238.8%

Sep 202313%

Dec 202314%

Mar 202445%

Jun 20247.2%

Sep 202484%

Dec 202442%

Mar 202529%

Jun 20256.9%

Sep 2025-3.7%

Dec 202513%

Mar 202686%

Jun 202658%

Golkunda Diamonds & Jewellery Ltd · 523676

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023—

Jun 2023—

Sep 2023—

Dec 2023-9.7%

Mar 202444%

Jun 20249.3%

Sep 202428%

Dec 202446%

Mar 2025-23%

Jun 202516%

Sep 202542%

Dec 2025-15%

Mar 2026—

Jun 2026—

Khazanchi Jewellers Ltd · KHAZANCHI

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023—

Jun 2023—

Sep 2023—

Dec 2023—

Mar 2024—

Jun 2024104%

Sep 2024—

Dec 202489%

Mar 2025—

Jun 20256.0%

Sep 202546%

Dec 202549%

Mar 2026-18%

Jun 202645%

PNGS Gargi Fashion Jewellery Ltd · 543709

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023—

Jun 2023—

Sep 202354%

Dec 202378%

Mar 2024117%

Jun 2024582%

Sep 2024113%

Dec 2024104%

Mar 202548%

Jun 2025-39%

Sep 2025102%

Dec 202527%

Mar 202630%

Jun 202611%

Rajesh Exports Ltd · RAJESHEXPO

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022-2.8%

Sep 2022-97%

Dec 202245%

Mar 202335%

Jun 202373%

Sep 20232,760%

Dec 2023-31%

Mar 2024-21%

Jun 2024-30%

Sep 202476%

Dec 202448%

Mar 2025118%

Jun 2025118%

Sep 2025162%

Dec 2025143%

Mar 202619%

Jun 202683%

Senco Gold Ltd · SENCO

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023—

Jun 202330%

Sep 202326%

Dec 202323%

Mar 202440%

Jun 20247.6%

Sep 202431%

Dec 202424%

Mar 202521%

Jun 202530%

Sep 20252.4%

Dec 202550%

Mar 202645%

Jun 202667%

Shringar House of Mangalsutra Ltd · SHRINGARMS⚠ unverified

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023—

Jun 2023—

Sep 2023—

Dec 2023—

Mar 2024—

Jun 2024—

Sep 2024—

Dec 2024—

Mar 2025—

Jun 202523%

Sep 202527%

Dec 202569%

Mar 2026107%

Jun 202665%

SJ Corporation Ltd · 504398

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023—

Jun 2023—

Sep 2023—

Dec 2023—

Mar 2024—

Jun 2024—

Sep 2024—

Dec 2024—

Mar 2025—

Jun 2025—

Sep 2025—

Dec 2025—

Mar 20261.9%

Jun 2026832%

Thangamayil Jewellery Ltd · THANGAMAYL

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022230%

Sep 202215%

Dec 202218%

Mar 202327%

Jun 202316%

Sep 202322%

Dec 202320%

Mar 202427%

Jun 202427%

Sep 202419%

Dec 202426%

Mar 202540%

Jun 202528%

Sep 202545%

Dec 2025113%

Mar 2026106%

Jun 202671%

Vaibhav Global Ltd · VAIBHAVGBL

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022-8.6%

Sep 20220.8%

Dec 2022-3.6%

Mar 20233.1%

Jun 20234.4%

Sep 20239.1%

Dec 202323%

Mar 202414%

Jun 202415%

Sep 202413%

Dec 202410%

Mar 20257.7%

Jun 20257.7%

Sep 202510%

Dec 20259.1%

Mar 202610%

Jun 202613%

08 · compare level, then change

Operating Economics & Margin Trend

PNGS Gargi Fashion Jewellery Ltd has the highest OPM among the 11 Diamond, Gems & Jewellery companies compared here, at 19.8%. D.P. Abhushan Ltd is next at 11%. SJ Corporation Ltd has the highest Margin change at +16.7 percentage points, so level and change sit with different companies. Its OPM series carries 19 reported observations across the 20-quarter window.

What the numbers say: PNGS Gargi Fashion Jewellery Ltd leads opm at 19.8%; SJ Corporation Ltd leads margin change at +16.7 percentage points.

LeaderPNGS Gargi Fashion Jewellery Ltd · 19.8%

Gap80% versus #2 · D.P. Abhushan Ltd

Persistence4/8 recent comparable periods

Coverage11/11 companies · 197 observations

Investor read: PNGS Gargi Fashion Jewellery Ltd sets the level benchmark; use the change leader as an inflection watch only after another comparable report confirms it.

This conclusion weakens if: The next two comparable reports reverse the current margin change signal.

Operating margin compares operating profit with revenue. Improvement is measured in percentage points, not percentage growth.

OPMhighest

1PNGS Gargi Fashion Jewellery Ltd 54370920%

2D.P. Abhushan Ltd DPABHUSHAN11%

3Vaibhav Global Ltd VAIBHAVGBL11%

4SJ Corporation Ltd 50439811%

5Golkunda Diamonds & Jewellery Ltd 523676 · older report9.7%

Margin changefastest expanders

1SJ Corporation Ltd 504398+16.7 pp

2Vaibhav Global Ltd VAIBHAVGBL+3.0 pp

3Khazanchi Jewellers Ltd KHAZANCHI+2.0 pp

4D.P. Abhushan Ltd DPABHUSHAN+1.0 pp

5Rajesh Exports Ltd RAJESHEXPO0.0 pp

Operating margin · company comparison

11/11 level · 11/11 change

All-company data · latest reported quarter

Company	OPM	Margin change	Reported
PNGS Gargi Fashion Jewellery Ltd 543709	20%	−3.5 pp	Jun 2026
Vaibhav Global Ltd VAIBHAVGBL	11%	+3.0 pp	Jun 2026
D.P. Abhushan Ltd DPABHUSHAN	11%	+1.0 pp	Jun 2026
SJ Corporation Ltd 504398	11%	+16.7 pp	Jun 2026
Golkunda Diamonds & Jewellery Ltd 523676	9.7%	−0.8 pp	Dec 2025
Shringar House of Mangalsutra Ltd SHRINGARMS⚠ unverified	9.0%	−3.0 pp	Jun 2026
Senco Gold Ltd SENCO	7.0%	−3.0 pp	Jun 2026
Khazanchi Jewellers Ltd KHAZANCHI	7.0%	+2.0 pp	Jun 2026
Thangamayil Jewellery Ltd THANGAMAYL	5.0%	−1.0 pp	Jun 2026
Asian Star Company Ltd ASTAR⚠ unverified	2.1%	−0.9 pp	Jun 2026
Rajesh Exports Ltd RAJESHEXPO	0.0%	0.0 pp	Jun 2026

Full 20-quarter history · every available company

OPM · reported quarter history

Asian Star Company Ltd · ASTAR⚠ unverified

Sep 20213.0%

Dec 20213.1%

Mar 20222.9%

Jun 20223.1%

Sep 20223.2%

Dec 20223.6%

Mar 20233.5%

Jun 20233.3%

Sep 20233.5%

Dec 20234.0%

Mar 20242.9%

Jun 20243.6%

Sep 20244.0%

Dec 20243.3%

Mar 20250.5%

Jun 20253.0%

Sep 20253.2%

Dec 20251.8%

Mar 20260.8%

Jun 20262.1%

D.P. Abhushan Ltd · DPABHUSHAN

Sep 20214.3%

Dec 20213.9%

Mar 20224.4%

Jun 20225.1%

Sep 20223.0%

Dec 20225.0%

Mar 20233.0%

Jun 20235.0%

Sep 20234.0%

Dec 20233.8%

Mar 20244.4%

Jun 20248.0%

Sep 20243.8%

Dec 20245.0%

Mar 20256.0%

Jun 202510%

Sep 20258.0%

Dec 20259.0%

Mar 20265.0%

Jun 202611%

Golkunda Diamonds & Jewellery Ltd · 523676

Sep 20213.8%

Dec 20216.7%

Mar 20226.8%

Jun 20227.4%

Sep 20225.5%

Dec 20226.6%

Mar 20236.6%

Jun 20232.6%

Sep 20236.8%

Dec 202310%

Mar 20248.4%

Jun 202410%

Sep 20243.8%

Dec 202410%

Mar 20256.3%

Jun 20257.1%

Sep 20256.4%

Dec 20259.7%

Mar 2026—

Jun 2026—

Khazanchi Jewellers Ltd · KHAZANCHI

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 20222.1%

Dec 2022—

Mar 20234.3%

Jun 20233.4%

Sep 20235.0%

Dec 20235.0%

Mar 20245.0%

Jun 20243.5%

Sep 20244.0%

Dec 20244.1%

Mar 20253.1%

Jun 20255.0%

Sep 20256.0%

Dec 20256.0%

Mar 20267.0%

Jun 20267.0%

PNGS Gargi Fashion Jewellery Ltd · 543709

Sep 2021—

Dec 202124%

Mar 202226%

Jun 202225%

Sep 202226%

Dec 202218%

Mar 202326%

Jun 202322%

Sep 202323%

Dec 202324%

Mar 202421%

Jun 202432%

Sep 202430%

Dec 202432%

Mar 202521%

Jun 202523%

Sep 202528%

Dec 202529%

Mar 202623%

Jun 202620%

Rajesh Exports Ltd · RAJESHEXPO

Sep 20210.8%

Dec 20210.5%

Mar 20220.2%

Jun 20220.6%

Sep 20223.0%

Dec 20220.0%

Mar 20230.3%

Jun 20230.4%

Sep 20230.1%

Dec 20230.0%

Mar 2024-0.2%

Jun 20240.1%

Sep 20240.1%

Dec 20240.1%

Mar 20250.0%

Jun 20250.0%

Sep 20250.1%

Dec 20250.1%

Mar 2026-0.1%

Jun 20260.0%

Senco Gold Ltd · SENCO

Sep 2021—

Dec 2021—

Mar 2022—

Jun 20225.5%

Sep 20224.0%

Dec 202212%

Mar 20238.0%

Jun 20235.0%

Sep 20233.4%

Dec 202311%

Mar 20248.0%

Jun 20248.0%

Sep 20243.5%

Dec 20243.9%

Mar 20259.0%

Jun 202510%

Sep 20257.0%

Dec 202513%

Mar 202614%

Jun 20267.0%

Shringar House of Mangalsutra Ltd · SHRINGARMS⚠ unverified

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023—

Jun 2023—

Sep 2023—

Dec 2023—

Mar 2024—

Jun 20249.0%

Sep 20246.0%

Dec 20245.0%

Mar 20257.0%

Jun 202512%

Sep 20256.0%

Dec 20256.0%

Mar 20266.0%

Jun 20269.0%

SJ Corporation Ltd · 504398

Sep 20214.7%

Dec 2021-1.7%

Mar 20221.7%

Jun 20222.0%

Sep 20225.1%

Dec 20226.7%

Mar 2023-0.1%

Jun 20232.5%

Sep 20231.0%

Dec 2023-367%

Mar 2024-3.7%

Jun 2024-0.8%

Sep 2024-0.4%

Dec 2024-24%

Mar 20250.4%

Jun 2025-6.1%

Sep 2025—

Dec 20252.3%

Mar 2026-4.8%

Jun 202611%

Thangamayil Jewellery Ltd · THANGAMAYL

Sep 20216.2%

Dec 20214.1%

Mar 20223.5%

Jun 20224.4%

Sep 20223.9%

Dec 20224.0%

Mar 20238.0%

Jun 202310%

Sep 20232.5%

Dec 20236.0%

Mar 20245.0%

Jun 20247.0%

Sep 2024-0.6%

Dec 20247.0%

Mar 20254.2%

Jun 20256.0%

Sep 20256.0%

Dec 20257.0%

Mar 20268.0%

Jun 20265.0%

Vaibhav Global Ltd · VAIBHAVGBL

Sep 202111%

Dec 202111%

Mar 20225.6%

Jun 20226.7%

Sep 20227.7%

Dec 20228.0%

Mar 20237.0%

Jun 20239.0%

Sep 20239.0%

Dec 202311%

Mar 20247.0%

Jun 20248.0%

Sep 20248.0%

Dec 202411%

Mar 20257.0%

Jun 20258.0%

Sep 20259.0%

Dec 202513%

Mar 20269.0%

Jun 202611%

Margin change · reported quarter history

Asian Star Company Ltd · ASTAR⚠ unverified

Sep 2021−1.1 pp

Dec 2021+1.6 pp

Mar 2022−0.2 pp

Jun 2022+0.4 pp

Sep 2022+0.2 pp

Dec 2022+0.5 pp

Mar 2023+0.6 pp

Jun 2023+0.2 pp

Sep 2023+0.3 pp

Dec 2023+0.4 pp

Mar 2024−0.6 pp

Jun 2024+0.3 pp

Sep 2024+0.5 pp

Dec 2024−0.7 pp

Mar 2025−2.4 pp

Jun 2025−0.6 pp

Sep 2025−0.8 pp

Dec 2025−1.5 pp

Mar 2026+0.3 pp

Jun 2026−0.9 pp

D.P. Abhushan Ltd · DPABHUSHAN

Sep 2021−2.8 pp

Dec 2021+0.2 pp

Mar 2022+1.6 pp

Jun 2022−0.8 pp

Sep 2022−1.3 pp

Dec 2022+1.1 pp

Mar 2023−1.4 pp

Jun 2023−0.1 pp

Sep 2023+1.0 pp

Dec 2023−1.2 pp

Mar 2024+1.4 pp

Jun 2024+3.0 pp

Sep 2024−0.2 pp

Dec 2024+1.2 pp

Mar 2025+1.6 pp

Jun 2025+2.0 pp

Sep 2025+4.2 pp

Dec 2025+4.0 pp

Mar 2026−1.0 pp

Jun 2026+1.0 pp

Golkunda Diamonds & Jewellery Ltd · 523676

Sep 2021+1.7 pp

Dec 2021+5.1 pp

Mar 2022+2.0 pp

Jun 2022+3.9 pp

Sep 2022+1.8 pp

Dec 2022−0.1 pp

Mar 2023−0.2 pp

Jun 2023−4.8 pp

Sep 2023+1.2 pp

Dec 2023+3.5 pp

Mar 2024+1.8 pp

Jun 2024+7.4 pp

Sep 2024−3.0 pp

Dec 2024+0.4 pp

Mar 2025−2.1 pp

Jun 2025−2.9 pp

Sep 2025+2.7 pp

Dec 2025−0.8 pp

Mar 2026—

Jun 2026—

Khazanchi Jewellers Ltd · KHAZANCHI

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023—

Jun 2023—

Sep 2023+2.9 pp

Dec 2023—

Mar 2024+0.7 pp

Jun 2024+0.1 pp

Sep 2024−1.0 pp

Dec 2024−0.9 pp

Mar 2025−1.9 pp

Jun 2025+1.5 pp

Sep 2025+2.0 pp

Dec 2025+1.9 pp

Mar 2026+3.9 pp

Jun 2026+2.0 pp

PNGS Gargi Fashion Jewellery Ltd · 543709

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022−6.2 pp

Mar 2023−0.1 pp

Jun 2023−2.7 pp

Sep 2023−3.3 pp

Dec 2023+5.5 pp

Mar 2024−5.5 pp

Jun 2024+10.0 pp

Sep 2024+7.6 pp

Dec 2024+8.5 pp

Mar 2025+0.3 pp

Jun 2025−8.6 pp

Sep 2025−2.2 pp

Dec 2025−3.1 pp

Mar 2026+2.6 pp

Jun 2026−3.5 pp

Rajesh Exports Ltd · RAJESHEXPO

Sep 2021+0.6 pp

Dec 2021−0.1 pp

Mar 2022−0.4 pp

Jun 2022+0.0 pp

Sep 2022+2.2 pp

Dec 2022−0.5 pp

Mar 2023+0.1 pp

Jun 2023−0.2 pp

Sep 2023−2.9 pp

Dec 20230.0 pp

Mar 2024−0.5 pp

Jun 2024−0.3 pp

Sep 20240.0 pp

Dec 2024+0.1 pp

Mar 2025+0.2 pp

Jun 2025−0.1 pp

Sep 20250.0 pp

Dec 20250.0 pp

Mar 2026−0.1 pp

Jun 20260.0 pp

Senco Gold Ltd · SENCO

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023—

Jun 2023−0.5 pp

Sep 2023−0.6 pp

Dec 2023−1.0 pp

Mar 20240.0 pp

Jun 2024+3.0 pp

Sep 2024+0.1 pp

Dec 2024−7.1 pp

Mar 2025+1.0 pp

Jun 2025+2.0 pp

Sep 2025+3.5 pp

Dec 2025+9.1 pp

Mar 2026+5.0 pp

Jun 2026−3.0 pp

Shringar House of Mangalsutra Ltd · SHRINGARMS⚠ unverified

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023—

Jun 2023—

Sep 2023—

Dec 2023—

Mar 2024—

Jun 2024—

Sep 2024—

Dec 2024—

Mar 2025—

Jun 2025+3.0 pp

Sep 20250.0 pp

Dec 2025+1.0 pp

Mar 2026−1.0 pp

Jun 2026−3.0 pp

SJ Corporation Ltd · 504398

Sep 2021+6.8 pp

Dec 2021+4.1 pp

Mar 2022+7.7 pp

Jun 2022+102.0 pp

Sep 2022+0.5 pp

Dec 2022+8.4 pp

Mar 2023−1.8 pp

Jun 2023+0.5 pp

Sep 2023−4.1 pp

Dec 2023−373.3 pp

Mar 2024−3.6 pp

Jun 2024−3.3 pp

Sep 2024−1.5 pp

Dec 2024+342.9 pp

Mar 2025+4.1 pp

Jun 2025−5.3 pp

Sep 2025—

Dec 2025+26.0 pp

Mar 2026−5.2 pp

Jun 2026+16.7 pp

Thangamayil Jewellery Ltd · THANGAMAYL

Sep 2021−16.6 pp

Dec 2021−3.2 pp

Mar 2022−0.4 pp

Jun 2022+5.4 pp

Sep 2022−2.3 pp

Dec 2022−0.1 pp

Mar 2023+4.6 pp

Jun 2023+5.6 pp

Sep 2023−1.4 pp

Dec 2023+2.0 pp

Mar 2024−3.0 pp

Jun 2024−3.0 pp

Sep 2024−3.1 pp

Dec 2024+1.0 pp

Mar 2025−0.8 pp

Jun 2025−1.0 pp

Sep 2025+6.6 pp

Dec 20250.0 pp

Mar 2026+3.8 pp

Jun 2026−1.0 pp

Vaibhav Global Ltd · VAIBHAVGBL

Sep 2021−5.5 pp

Dec 2021−5.6 pp

Mar 2022−6.2 pp

Jun 2022−6.7 pp

Sep 2022−2.8 pp

Dec 2022−3.3 pp

Mar 2023+1.4 pp

Jun 2023+2.3 pp

Sep 2023+1.3 pp

Dec 2023+3.0 pp

Mar 20240.0 pp

Jun 2024−1.0 pp

Sep 2024−1.0 pp

Dec 20240.0 pp

Mar 20250.0 pp

Jun 20250.0 pp

Sep 2025+1.0 pp

Dec 2025+2.0 pp

Mar 2026+2.0 pp

Jun 2026+3.0 pp

09 · compare level, then change

Profit Scale & Acceleration

Senco Gold Ltd has the highest Net profit among the 11 Diamond, Gems & Jewellery companies compared here, at ₹571 crore. Thangamayil Jewellery Ltd is next at ₹392 crore. Khazanchi Jewellers Ltd has the highest Profit growth at the 100% top of the scoring scale, so level and change sit with different companies.

What the numbers say: Senco Gold Ltd leads with ₹571 crore of TTM profit, 45.7% above Thangamayil Jewellery Ltd. Khazanchi Jewellers Ltd shows ≥100% on the scoring scale (102% uncapped) growth from a ₹103 crore profit base. Compare the size of the base and persistence before ranking acceleration above profit scale.

LeaderSenco Gold Ltd · ₹571 crore

Gap45.7% versus #2 · Thangamayil Jewellery Ltd

Persistence5/8 recent comparable periods

Coverage10/11 companies · 166 observations

Investor read: Senco Gold Ltd sets the level benchmark; use the change leader as an inflection watch only after another comparable report confirms it.

This conclusion weakens if: The next two comparable reports reverse the current profit growth signal.

Net profit is the residual after operating costs, interest and tax. Growth off a loss or near-zero base is excluded from the fastest-grower rank.

Net profitlargest

1Senco Gold Ltd SENCO₹571 Cr

2Thangamayil Jewellery Ltd THANGAMAYL₹392 Cr

3Vaibhav Global Ltd VAIBHAVGBL₹285 Cr

4D.P. Abhushan Ltd DPABHUSHAN₹239 Cr

5Rajesh Exports Ltd RAJESHEXPO₹168 Cr

Profit growthfastest growers

1Khazanchi Jewellers Ltd KHAZANCHI100%

2Senco Gold Ltd SENCO100%

3Thangamayil Jewellery Ltd THANGAMAYL100%

4D.P. Abhushan Ltd DPABHUSHAN94%

5Vaibhav Global Ltd VAIBHAVGBL74%

Net profit · company comparison

10/11 level · 9/11 change

All-company data · latest reported quarter

Company	Net profit	Profit growth	Reported
Senco Gold Ltd SENCO	₹101 Cr	-3.8%	Jun 2026
Thangamayil Jewellery Ltd THANGAMAYL	₹85 Cr	85%	Jun 2026
D.P. Abhushan Ltd DPABHUSHAN	₹64 Cr	78%	Jun 2026
Vaibhav Global Ltd VAIBHAVGBL	₹56 Cr	47%	Jun 2026
Rajesh Exports Ltd RAJESHEXPO	₹47 Cr	-2,800%	Jun 2026
Shringar House of Mangalsutra Ltd SHRINGARMS⚠ unverified	₹34 Cr	17%	Jun 2026
Khazanchi Jewellers Ltd KHAZANCHI	₹28 Cr	87%	Jun 2026
Asian Star Company Ltd ASTAR⚠ unverified	₹12 Cr	-37%	Jun 2026
PNGS Gargi Fashion Jewellery Ltd 543709	₹5 Cr	-4.9%	Jun 2026
Golkunda Diamonds & Jewellery Ltd 523676	₹4 Cr	-28%	Dec 2025
SJ Corporation Ltd 504398	₹2 Cr	413%	Jun 2026

Full 20-quarter history · every available company

Net profit · reported quarter history

Asian Star Company Ltd · ASTAR⚠ unverified

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022₹13 Cr

Mar 2023₹17 Cr

Jun 2023₹24 Cr

Sep 2023₹17 Cr

Dec 2023₹18 Cr

Mar 2024₹19 Cr

Jun 2024₹17 Cr

Sep 2024₹19 Cr

Dec 2024₹11 Cr

Mar 2025₹-6 Cr

Jun 2025₹19 Cr

Sep 2025₹12 Cr

Dec 2025₹9 Cr

Mar 2026₹0 Cr

Jun 2026₹12 Cr

D.P. Abhushan Ltd · DPABHUSHAN

Sep 2021₹11 Cr

Dec 2021₹16 Cr

Mar 2022₹10 Cr

Jun 2022₹13 Cr

Sep 2022₹8 Cr

Dec 2022₹20 Cr

Mar 2023₹4 Cr

Jun 2023₹16 Cr

Sep 2023₹13 Cr

Dec 2023₹17 Cr

Mar 2024₹16 Cr

Jun 2024₹25 Cr

Sep 2024₹25 Cr

Dec 2024₹37 Cr

Mar 2025₹25 Cr

Jun 2025₹36 Cr

Sep 2025₹51 Cr

Dec 2025₹73 Cr

Mar 2026₹51 Cr

Jun 2026₹64 Cr

Golkunda Diamonds & Jewellery Ltd · 523676

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022₹2 Cr

Mar 2023₹2 Cr

Jun 2023₹0 Cr

Sep 2023₹2 Cr

Dec 2023₹3 Cr

Mar 2024₹4 Cr

Jun 2024₹4 Cr

Sep 2024₹1 Cr

Dec 2024₹5 Cr

Mar 2025₹2 Cr

Jun 2025₹3 Cr

Sep 2025₹3 Cr

Dec 2025₹4 Cr

Mar 2026—

Jun 2026—

Khazanchi Jewellers Ltd · KHAZANCHI

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023—

Jun 2023₹3 Cr

Sep 2023—

Dec 2023₹6 Cr

Mar 2024—

Jun 2024₹9 Cr

Sep 2024₹11 Cr

Dec 2024₹12 Cr

Mar 2025₹13 Cr

Jun 2025₹15 Cr

Sep 2025₹24 Cr

Dec 2025₹25 Cr

Mar 2026₹26 Cr

Jun 2026₹28 Cr

PNGS Gargi Fashion Jewellery Ltd · 543709

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022₹1 Cr

Dec 2022₹1 Cr

Mar 2023₹1 Cr

Jun 2023₹1 Cr

Sep 2023₹2 Cr

Dec 2023₹3 Cr

Mar 2024₹2 Cr

Jun 2024₹10 Cr

Sep 2024₹5 Cr

Dec 2024₹9 Cr

Mar 2025₹4 Cr

Jun 2025₹5 Cr

Sep 2025₹10 Cr

Dec 2025₹11 Cr

Mar 2026₹5 Cr

Jun 2026₹5 Cr

Rajesh Exports Ltd · RAJESHEXPO

Sep 2021₹291 Cr

Dec 2021₹300 Cr

Mar 2022₹139 Cr

Jun 2022₹272 Cr

Sep 2022₹41 Cr

Dec 2022₹422 Cr

Mar 2023₹366 Cr

Jun 2023₹309 Cr

Sep 2023₹45 Cr

Dec 2023₹12 Cr

Mar 2024₹-30 Cr

Jun 2024₹12 Cr

Sep 2024₹46 Cr

Dec 2024₹36 Cr

Mar 2025₹2 Cr

Jun 2025₹-10 Cr

Sep 2025₹104 Cr

Dec 2025₹71 Cr

Mar 2026₹-54 Cr

Jun 2026₹47 Cr

Senco Gold Ltd · SENCO

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022₹23 Cr

Sep 2022₹9 Cr

Dec 2022₹103 Cr

Mar 2023₹26 Cr

Jun 2023₹28 Cr

Sep 2023₹12 Cr

Dec 2023₹109 Cr

Mar 2024₹32 Cr

Jun 2024₹51 Cr

Sep 2024₹12 Cr

Dec 2024₹33 Cr

Mar 2025₹62 Cr

Jun 2025₹105 Cr

Sep 2025₹49 Cr

Dec 2025₹264 Cr

Mar 2026₹157 Cr

Jun 2026₹101 Cr

Shringar House of Mangalsutra Ltd · SHRINGARMS⚠ unverified

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023—

Jun 2023—

Sep 2023—

Dec 2023—

Mar 2024—

Jun 2024₹17 Cr

Sep 2024₹16 Cr

Dec 2024₹13 Cr

Mar 2025₹15 Cr

Jun 2025₹29 Cr

Sep 2025₹23 Cr

Dec 2025₹30 Cr

Mar 2026₹34 Cr

Jun 2026₹34 Cr

SJ Corporation Ltd · 504398

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023—

Jun 2023—

Sep 2023—

Dec 2023—

Mar 2024—

Jun 2024—

Sep 2024—

Dec 2024—

Mar 2025₹0 Cr

Jun 2025₹0 Cr

Sep 2025—

Dec 2025₹0 Cr

Mar 2026₹-1 Cr

Jun 2026₹2 Cr

Thangamayil Jewellery Ltd · THANGAMAYL

Sep 2021₹27 Cr

Dec 2021₹11 Cr

Mar 2022₹8 Cr

Jun 2022₹19 Cr

Sep 2022₹16 Cr

Dec 2022₹14 Cr

Mar 2023₹31 Cr

Jun 2023₹59 Cr

Sep 2023₹8 Cr

Dec 2023₹28 Cr

Mar 2024₹28 Cr

Jun 2024₹57 Cr

Sep 2024₹-17 Cr

Dec 2024₹48 Cr

Mar 2025₹31 Cr

Jun 2025₹46 Cr

Sep 2025₹59 Cr

Dec 2025₹105 Cr

Mar 2026₹143 Cr

Jun 2026₹85 Cr

Vaibhav Global Ltd · VAIBHAVGBL

Sep 2021₹42 Cr

Dec 2021₹70 Cr

Mar 2022₹27 Cr

Jun 2022₹20 Cr

Sep 2022₹23 Cr

Dec 2022₹39 Cr

Mar 2023₹23 Cr

Jun 2023₹30 Cr

Sep 2023₹29 Cr

Dec 2023₹47 Cr

Mar 2024₹21 Cr

Jun 2024₹27 Cr

Sep 2024₹28 Cr

Dec 2024₹64 Cr

Mar 2025₹34 Cr

Jun 2025₹38 Cr

Sep 2025₹48 Cr

Dec 2025₹90 Cr

Mar 2026₹91 Cr

Jun 2026₹56 Cr

Profit growth · reported quarter history

Asian Star Company Ltd · ASTAR⚠ unverified

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023—

Jun 2023—

Sep 2023—

Dec 202335%

Mar 202411%

Jun 2024-29%

Sep 202412%

Dec 2024-39%

Mar 2025-132%

Jun 202512%

Sep 2025-37%

Dec 2025-18%

Mar 2026—

Jun 2026-37%

D.P. Abhushan Ltd · DPABHUSHAN

Sep 202152%

Dec 202181%

Mar 202217%

Jun 2022205%

Sep 2022-26%

Dec 202227%

Mar 2023-59%

Jun 202323%

Sep 202363%

Dec 2023-15%

Mar 2024300%

Jun 202456%

Sep 202492%

Dec 2024118%

Mar 202556%

Jun 202544%

Sep 2025104%

Dec 202597%

Mar 2026104%

Jun 202678%

Golkunda Diamonds & Jewellery Ltd · 523676

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023—

Jun 2023—

Sep 2023—

Dec 202345%

Mar 202486%

Jun 2024705%

Sep 2024-36%

Dec 202455%

Mar 2025-47%

Jun 2025-11%

Sep 2025203%

Dec 2025-28%

Mar 2026—

Jun 2026—

Khazanchi Jewellers Ltd · KHAZANCHI

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023—

Jun 2023—

Sep 2023—

Dec 2023—

Mar 2024—

Jun 2024200%

Sep 2024—

Dec 2024100%

Mar 2025—

Jun 202567%

Sep 2025118%

Dec 2025108%

Mar 2026100%

Jun 202687%

PNGS Gargi Fashion Jewellery Ltd · 543709

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023—

Jun 2023—

Sep 202368%

Dec 2023216%

Mar 202474%

Jun 2024717%

Sep 2024203%

Dec 2024190%

Mar 202575%

Jun 2025-49%

Sep 2025102%

Dec 202516%

Mar 202625%

Jun 2026-4.9%

Rajesh Exports Ltd · RAJESHEXPO

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022-2.2%

Sep 2022-86%

Dec 202241%

Mar 2023163%

Jun 202314%

Sep 20239.8%

Dec 2023-97%

Mar 2024-108%

Jun 2024-96%

Sep 20242.2%

Dec 2024200%

Mar 2025—

Jun 2025-183%

Sep 2025126%

Dec 202597%

Mar 2026-2,800%

Jun 2026—

Senco Gold Ltd · SENCO

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023—

Jun 202322%

Sep 202333%

Dec 20235.8%

Mar 202423%

Jun 202482%

Sep 20240.0%

Dec 2024-70%

Mar 202594%

Jun 2025106%

Sep 2025308%

Dec 2025700%

Mar 2026153%

Jun 2026-3.8%

Shringar House of Mangalsutra Ltd · SHRINGARMS⚠ unverified

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023—

Jun 2023—

Sep 2023—

Dec 2023—

Mar 2024—

Jun 2024—

Sep 2024—

Dec 2024—

Mar 2025—

Jun 202571%

Sep 202544%

Dec 2025131%

Mar 2026127%

Jun 202617%

SJ Corporation Ltd · 504398

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023—

Jun 2023—

Sep 2023—

Dec 2023—

Mar 2024—

Jun 2024—

Sep 2024—

Dec 2024—

Mar 2025—

Jun 2025—

Sep 2025—

Dec 2025—

Mar 2026-655%

Jun 2026413%

Thangamayil Jewellery Ltd · THANGAMAYL

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022-41%

Dec 202227%

Mar 2023288%

Jun 2023211%

Sep 2023-50%

Dec 2023100%

Mar 2024-9.7%

Jun 2024-3.4%

Sep 2024-313%

Dec 202471%

Mar 202511%

Jun 2025-19%

Sep 2025—

Dec 2025119%

Mar 2026361%

Jun 202685%

Vaibhav Global Ltd · VAIBHAVGBL

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022-80%

Sep 2022-45%

Dec 2022-44%

Mar 2023-15%

Jun 202350%

Sep 202326%

Dec 202321%

Mar 2024-8.7%

Jun 2024-10%

Sep 2024-3.5%

Dec 202436%

Mar 202562%

Jun 202541%

Sep 202571%

Dec 202541%

Mar 2026168%

Jun 202647%

10 · compare level, then change

Return On Capital Employed

D.P. Abhushan Ltd has the highest ROCE among the 11 Diamond, Gems & Jewellery companies compared here, at 39.6%. Khazanchi Jewellers Ltd is next at 34.8%. Thangamayil Jewellery Ltd has the highest ROCE change at +17.8 percentage points, so level and change sit with different companies. 11 of 11 companies report a comparable reading, the latest through Jun 2026.

What the numbers say: D.P. Abhushan Ltd leads ROCE at 39.6%, 4.8 percentage points above Khazanchi Jewellers Ltd. Thangamayil Jewellery Ltd has the strongest latest improvement at +17.8 percentage points. Read the leader beside the density of its reported history: a sparse high return is a candidate; a repeated high return is evidence of durability.

LeaderD.P. Abhushan Ltd · 39.6%

Gap13.8% versus #2 · Khazanchi Jewellers Ltd

Persistence8/8 recent comparable periods

Coverage11/11 companies · 96 observations

Investor read: D.P. Abhushan Ltd sets the level benchmark; use the change leader as an inflection watch only after another comparable report confirms it.

This conclusion weakens if: The next two comparable reports reverse the current roce change signal.

ROCE asks how much operating return the business earns on the capital employed. Direction matters, but a single exceptional year should not be mistaken for durability.

ROCEhighest

1D.P. Abhushan Ltd DPABHUSHAN40%

2Khazanchi Jewellers Ltd KHAZANCHI35%

3PNGS Gargi Fashion Jewellery Ltd 54370934%

4Shringar House of Mangalsutra Ltd SHRINGARMS⚠ unverified27%

5Thangamayil Jewellery Ltd THANGAMAYL26%

ROCE changefastest improvers

1Thangamayil Jewellery Ltd THANGAMAYL+17.8 pp

2Senco Gold Ltd SENCO+17.4 pp

3Khazanchi Jewellers Ltd KHAZANCHI+11.0 pp

4D.P. Abhushan Ltd DPABHUSHAN+9.5 pp

5Golkunda Diamonds & Jewellery Ltd 523676 · older report+2.0 pp

Return on capital · company comparison

11/11 level · 10/11 change

All-company data · latest reported quarter

Company	ROCE	ROCE change	Reported
D.P. Abhushan Ltd DPABHUSHAN	63%	+9.5 pp	Jun 2026
Thangamayil Jewellery Ltd THANGAMAYL	34%	+17.8 pp	Jun 2026
Senco Gold Ltd SENCO	31%	+17.4 pp	Jun 2026
Shringar House of Mangalsutra Ltd SHRINGARMS⚠ unverified	23%	−21.1 pp	Jun 2026
Vaibhav Global Ltd VAIBHAVGBL	13%	+0.4 pp	Jun 2026
Asian Star Company Ltd ASTAR⚠ unverified	3.1%	−1.1 pp	Jun 2026
Rajesh Exports Ltd RAJESHEXPO	1.7%	+0.4 pp	Jun 2026

Full 20-quarter history · every available company

ROCE · reported quarter history

Asian Star Company Ltd · ASTAR⚠ unverified

Sep 20216.5%

Dec 2021—

Mar 20228.2%

Jun 2022—

Sep 2022—

Dec 2022—

Mar 20238.9%

Jun 2023—

Sep 20237.4%

Dec 20238.3%

Mar 20246.6%

Jun 20247.9%

Sep 20245.9%

Dec 20247.4%

Mar 20254.2%

Jun 20255.3%

Sep 20253.7%

Dec 20254.2%

Mar 20263.1%

Jun 2026—

D.P. Abhushan Ltd · DPABHUSHAN

Sep 202142%

Dec 202150%

Mar 202240%

Jun 2022—

Sep 202240%

Dec 2022—

Mar 202334%

Jun 2023—

Sep 202335%

Dec 202338%

Mar 202437%

Jun 202447%

Sep 202435%

Dec 202451%

Mar 202539%

Jun 202553%

Sep 202541%

Dec 202561%

Mar 202646%

Jun 202663%

Rajesh Exports Ltd · RAJESHEXPO

Sep 202111%

Dec 2021—

Mar 20228.9%

Jun 2022—

Sep 20229.0%

Dec 2022—

Mar 202311%

Jun 20238.6%

Sep 20238.1%

Dec 20235.4%

Mar 20242.2%

Jun 20240.9%

Sep 20240.5%

Dec 20241.5%

Mar 20251.3%

Jun 20251.5%

Sep 20251.7%

Dec 20252.2%

Mar 20261.7%

Jun 2026—

Senco Gold Ltd · SENCO

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 202324%

Jun 202327%

Sep 202320%

Dec 202323%

Mar 202420%

Jun 202429%

Sep 202422%

Dec 202420%

Mar 202514%

Jun 202523%

Sep 202518%

Dec 202541%

Mar 202631%

Jun 2026—

Shringar House of Mangalsutra Ltd · SHRINGARMS⚠ unverified

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023—

Jun 2023—

Sep 2023—

Dec 2023—

Mar 2024—

Jun 2024—

Sep 202427%

Dec 2024—

Mar 202544%

Jun 202551%

Sep 202519%

Dec 202534%

Mar 202623%

Jun 2026—

Thangamayil Jewellery Ltd · THANGAMAYL

Sep 202127%

Dec 2021—

Mar 202218%

Jun 2022—

Sep 202219%

Dec 2022—

Mar 202326%

Jun 2023—

Sep 202332%

Dec 202338%

Mar 202431%

Jun 202434%

Sep 202430%

Dec 202431%

Mar 202516%

Jun 202521%

Sep 202521%

Dec 202540%

Mar 202634%

Jun 2026—

Vaibhav Global Ltd · VAIBHAVGBL

Sep 202129%

Dec 2021—

Mar 202219%

Jun 2022—

Sep 202212%

Dec 2022—

Mar 20239.8%

Jun 2023—

Sep 202311%

Dec 202315%

Mar 202413%

Jun 202414%

Sep 202412%

Dec 202415%

Mar 202513%

Jun 202516%

Sep 202514%

Dec 202519%

Mar 202613%

Jun 2026—

ROCE change · reported quarter history

Asian Star Company Ltd · ASTAR⚠ unverified

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023+0.7 pp

Jun 2023—

Sep 2023—

Dec 2023—

Mar 2024−2.3 pp

Jun 2024—

Sep 2024−1.5 pp

Dec 2024−0.9 pp

Mar 2025−2.4 pp

Jun 2025−2.6 pp

Sep 2025−2.2 pp

Dec 2025−3.2 pp

Mar 2026−1.1 pp

Jun 2026—

D.P. Abhushan Ltd · DPABHUSHAN

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022−2.1 pp

Dec 2022—

Mar 2023−6.0 pp

Jun 2023—

Sep 2023−5.4 pp

Dec 2023—

Mar 2024+3.4 pp

Jun 2024—

Sep 2024+0.2 pp

Dec 2024+12.7 pp

Mar 2025+1.2 pp

Jun 2025+6.8 pp

Sep 2025+6.2 pp

Dec 2025+10.3 pp

Mar 2026+7.2 pp

Jun 2026+9.5 pp

Rajesh Exports Ltd · RAJESHEXPO

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022−1.5 pp

Dec 2022—

Mar 2023+1.6 pp

Jun 2023—

Sep 2023−0.9 pp

Dec 2023—

Mar 2024−8.3 pp

Jun 2024−7.7 pp

Sep 2024−7.6 pp

Dec 2024−3.9 pp

Mar 2025−0.9 pp

Jun 2025+0.6 pp

Sep 2025+1.2 pp

Dec 2025+0.7 pp

Mar 2026+0.4 pp

Jun 2026—

Senco Gold Ltd · SENCO

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023—

Jun 2023—

Sep 2023—

Dec 2023—

Mar 2024−4.3 pp

Jun 2024+1.2 pp

Sep 2024+1.5 pp

Dec 2024−3.1 pp

Mar 2025−6.3 pp

Jun 2025−5.9 pp

Sep 2025−3.8 pp

Dec 2025+20.5 pp

Mar 2026+17.4 pp

Jun 2026—

Shringar House of Mangalsutra Ltd · SHRINGARMS⚠ unverified

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023—

Jun 2023—

Sep 2023—

Dec 2023—

Mar 2024—

Jun 2024—

Sep 2024—

Dec 2024—

Mar 2025—

Jun 2025—

Sep 2025−8.9 pp

Dec 2025—

Mar 2026−21.1 pp

Jun 2026—

Thangamayil Jewellery Ltd · THANGAMAYL

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022−7.5 pp

Dec 2022—

Mar 2023+8.4 pp

Jun 2023—

Sep 2023+12.5 pp

Dec 2023—

Mar 2024+5.3 pp

Jun 2024—

Sep 2024−1.7 pp

Dec 2024−6.3 pp

Mar 2025−15.1 pp

Jun 2025−12.8 pp

Sep 2025−8.8 pp

Dec 2025+8.6 pp

Mar 2026+17.8 pp

Jun 2026—

Vaibhav Global Ltd · VAIBHAVGBL

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022−17.4 pp

Dec 2022—

Mar 2023−9.3 pp

Jun 2023—

Sep 2023−0.6 pp

Dec 2023—

Mar 2024+3.0 pp

Jun 2024—

Sep 2024+0.8 pp

Dec 2024−0.1 pp

Mar 2025+0.1 pp

Jun 2025+1.5 pp

Sep 2025+2.0 pp

Dec 2025+3.5 pp

Mar 2026+0.4 pp

Jun 2026—

11 · compare level, then change

Valuation Against Growth & Quality

Vaibhav Global Ltd has the lowest PEG among the 11 Diamond, Gems & Jewellery companies compared here, at 0.33×. D.P. Abhushan Ltd is next at 0.68×. Senco Gold Ltd has the lowest P/E at 9.51×, so level and change sit with different companies. 5 of 11 companies report a comparable reading, the latest through Jun 2026.

What the numbers say: Vaibhav Global Ltd has the lowest comparable PEG at 0.33×, 51.5% below D.P. Abhushan Ltd. Only 5 of 11 companies have earnings and growth steady enough for the ratio to mean anything, so no broad “cheapest stock” conclusion is defensible unless the current multiple, own-history position and growth durability agree.

LeaderVaibhav Global Ltd · 0.33×

Gap51.5% versus #2 · D.P. Abhushan Ltd

Persistence0/8 recent comparable periods

Coverage5/11 companies · 29 observations

Investor read: Treat valuation as permission to investigate, never as a standalone reason to buy.

This conclusion weakens if: The next two comparable reports reverse the current p/e signal.

PEG is shown only when earnings are positive and three-year EPS growth is between 5% and 60%. It is recomputed consistently as the trailing P/E divided by that growth rate — reported earnings, never an expected-earnings multiple. On Indian companies it is shown only where the two data feeds agreed. Where any of that fails the ratio is left out rather than printed: a P/E divided by a loss, or by growth measured off a tiny base, is a number that looks precise and means nothing.

PEGlowest PEG

1Vaibhav Global Ltd VAIBHAVGBL0.3

2D.P. Abhushan Ltd DPABHUSHAN0.7

3Thangamayil Jewellery Ltd THANGAMAYL0.8

4Senco Gold Ltd SENCO1.4

5Rajesh Exports Ltd RAJESHEXPO1.7

P/Elowest P/E

1Senco Gold Ltd SENCO9.5

2Rajesh Exports Ltd RAJESHEXPO11.8

3Vaibhav Global Ltd VAIBHAVGBL12.2

4D.P. Abhushan Ltd DPABHUSHAN13.2

5Golkunda Diamonds & Jewellery Ltd 523676 · older report16.0

Valuation · company comparison

5/11 level · 11/11 change

All-company data · latest reported quarter

Company	PEG	P/E	Reported
Rajesh Exports Ltd RAJESHEXPO	1.7	25.5	Jun 2026
Senco Gold Ltd SENCO	1.4	9.2	Jun 2026
Thangamayil Jewellery Ltd THANGAMAYL	0.8	49.2	Jun 2026
D.P. Abhushan Ltd DPABHUSHAN	0.7	10.3	Jun 2026
Vaibhav Global Ltd VAIBHAVGBL	0.3	14.6	Jun 2026
Golkunda Diamonds & Jewellery Ltd 523676	—	10.3	Dec 2025
PNGS Gargi Fashion Jewellery Ltd 543709	—	27.2	Jun 2026
Shringar House of Mangalsutra Ltd SHRINGARMS⚠ unverified	—	16.9	Jun 2026
Khazanchi Jewellers Ltd KHAZANCHI	—	17.4	Jun 2026
Asian Star Company Ltd ASTAR⚠ unverified	—	25.3	Jun 2026

Full 20-quarter history · every available company

PEG · reported quarter history

D.P. Abhushan Ltd · DPABHUSHAN

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 20220.3

Mar 2023—

Jun 20231.2

Sep 20230.5

Dec 20232.0

Mar 2024—

Jun 20241.4

Sep 2024—

Dec 20240.7

Mar 20250.6

Jun 20250.7

Sep 2025—

Dec 2025—

Mar 2026—

Jun 2026—

Rajesh Exports Ltd · RAJESHEXPO

Sep 2021—

Dec 20210.6

Mar 20220.4

Jun 20220.9

Sep 2022—

Dec 2022—

Mar 2023—

Jun 20230.3

Sep 2023—

Dec 20231.7

Mar 2024—

Jun 2024—

Sep 2024—

Dec 2024—

Mar 2025—

Jun 2025—

Sep 2025—

Dec 2025—

Mar 2026—

Jun 2026—

Senco Gold Ltd · SENCO

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023—

Jun 2023—

Sep 20230.4

Dec 2023—

Mar 20242.5

Jun 2024—

Sep 2024—

Dec 2024—

Mar 2025—

Jun 2025—

Sep 2025—

Dec 20251.4

Mar 2026—

Jun 2026—

Thangamayil Jewellery Ltd · THANGAMAYL

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 20231.0

Jun 2023—

Sep 2023—

Dec 2023—

Mar 2024—

Jun 20240.8

Sep 2024—

Dec 2024—

Mar 2025—

Jun 2025—

Sep 2025—

Dec 2025—

Mar 2026—

Jun 2026—

Vaibhav Global Ltd · VAIBHAVGBL

Sep 20211.0

Dec 20212.7

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023—

Jun 2023—

Sep 2023—

Dec 2023—

Mar 20242.5

Jun 20241.4

Sep 20242.8

Dec 20245.5

Mar 20253.3

Jun 20251.8

Sep 20251.0

Dec 20250.5

Mar 20260.3

Jun 2026—

P/E · reported quarter history

Asian Star Company Ltd · ASTAR⚠ unverified

Sep 202116.0

Dec 202114.3

Mar 202211.4

Jun 202212.7

Sep 202211.9

Dec 202211.6

Mar 202312.7

Jun 202313.9

Sep 202315.2

Dec 202319.2

Mar 202415.7

Jun 202416.2

Sep 202418.3

Dec 202417.3

Mar 202517.1

Jun 202526.3

Sep 202524.9

Dec 202526.5

Mar 202626.9

Jun 202625.3

D.P. Abhushan Ltd · DPABHUSHAN

Sep 202116.5

Dec 202130.1

Mar 202222.4

Jun 202220.4

Sep 202218.5

Dec 202213.8

Mar 202313.7

Jun 202313.8

Sep 202329.3

Dec 202327.9

Mar 202437.1

Jun 202449.5

Sep 202450.6

Dec 202441.0

Mar 202529.4

Jun 202528.9

Sep 202526.9

Dec 202522.4

Mar 202611.8

Jun 202610.3

Golkunda Diamonds & Jewellery Ltd · 523676

Sep 202113.4

Dec 202112.7

Mar 20229.0

Jun 20227.3

Sep 202211.8

Dec 20228.7

Mar 20236.6

Jun 20237.5

Sep 202311.3

Dec 202315.0

Mar 202414.2

Jun 202412.9

Sep 202415.3

Dec 202411.0

Mar 20259.8

Jun 202511.0

Sep 202510.5

Dec 202510.3

Mar 2026—

Jun 2026—

Khazanchi Jewellers Ltd · KHAZANCHI

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023—

Jun 2023—

Sep 2023—

Dec 2023—

Mar 2024—

Jun 202436.4

Sep 202447.5

Dec 202449.3

Mar 202545.4

Jun 202531.5

Sep 202529.1

Dec 202529.7

Mar 202620.4

Jun 202617.4

PNGS Gargi Fashion Jewellery Ltd · 543709

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 20220.1

Mar 20230.1

Jun 202333.7

Sep 202328.9

Dec 202382.0

Mar 202468.6

Jun 202465.8

Sep 202443.2

Dec 202462.3

Mar 202534.2

Jun 202530.3

Sep 202535.8

Dec 202537.1

Mar 202626.9

Jun 202627.2

Rajesh Exports Ltd · RAJESHEXPO

Sep 202117.9

Dec 202120.0

Mar 202217.4

Jun 202216.8

Sep 202217.1

Dec 202219.9

Mar 202314.9

Jun 202311.3

Sep 202310.1

Dec 20239.5

Mar 202410.6

Jun 202424.7

Sep 202425.8

Dec 2024108.7

Mar 202557.8

Jun 2025—

Sep 202561.6

Dec 202547.6

Mar 202614.9

Jun 202625.5

Senco Gold Ltd · SENCO

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023—

Jun 2023—

Sep 202321.7

Dec 202324.6

Mar 202431.8

Jun 202448.3

Sep 202455.6

Dec 202440.4

Mar 202533.2

Jun 202535.1

Sep 202526.0

Dec 202521.0

Mar 20269.7

Jun 20269.2

Shringar House of Mangalsutra Ltd · SHRINGARMS⚠ unverified

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023—

Jun 2023—

Sep 2023—

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Mar 2024—

Jun 2024—

Sep 2024—

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Mar 2025—

Jun 2025—

Sep 202521.1

Dec 202526.7

Mar 202614.4

Jun 202616.9

Thangamayil Jewellery Ltd · THANGAMAYL

Sep 202118.9

Dec 202134.5

Mar 202238.8

Jun 202236.4

Sep 202228.7

Dec 202230.3

Mar 202326.6

Jun 202328.6

Sep 202331.1

Dec 202340.1

Mar 202430.7

Jun 202442.0

Sep 202460.1

Dec 202461.7

Mar 202554.1

Jun 202548.8

Sep 202558.1

Dec 202554.3

Mar 202644.0

Jun 202649.2

Vaibhav Global Ltd · VAIBHAVGBL

Sep 202140.1

Dec 202136.6

Mar 202225.8

Jun 202223.4

Sep 202235.5

Dec 202235.6

Mar 202340.3

Jun 202348.4

Sep 202363.2

Dec 202354.0

Mar 202445.4

Jun 202438.3

Sep 202438.2

Dec 202435.9

Mar 202525.4

Jun 202525.7

Sep 202523.7

Dec 202521.4

Mar 202614.8

Jun 202614.6

12 · before the conclusion, check the blind spots

What can make this comparison misleading?

This Diamond, Gems & Jewellery comparison names 6 specific ways its own evidence can mislead, all listed below. 1 of the 11 companies reports on an older date than the sector's freshest reporters, so its rank is marked stale. 2 draw at least one figure from a second feed with too little overlap to cross-check.

Keep these limits visible

A high growth rate can be a low-base artefact. The page keeps level and change separate for that reason.
A high ROCE can be temporary or flattered by a small capital base. Read it beside margin, cash conversion and reinvestment.
The 4-Factor Sector Score ranks research priority, not portfolio action. Management quality, catalysts and risks need equally fresh evidence before capital is deployed.
An “all companies” line chart preserves completeness, but rank changes should be checked against reporting dates before drawing a conclusion.
1 company has an older fundamental reporting date than the sector’s freshest reporters; its rank carries a stale marker.
2 companies draw at least one figure from a second data feed with too little overlapping history to cross-check against the primary source; they are marked unverified wherever those figures appear.

13 · evidence and freshness

How was this comparison built?

This comparison is built from the reported filings of 11 Diamond, Gems & Jewellery companies, normalized to a common ₹ scale and a shared quarter axis of up to 20 quarters each. Fundamentals run through Jun 2026 and market data through 2026-09-25. A second data feed fills gaps only after identity and scale reconciliation, and missing observations are never interpolated.

FundamentalsThrough Jun 2026 · up to 20 quarters per company

Market dataThrough 2026-09-25 · weekly price and relative-strength history

Derived metricsGrowth, changes and PEG are calculated only when their inputs are comparable.

Score confidenceMissing and stale evidence reduces confidence and pulls the 0–100 research-priority score toward neutral.

Source standing5 cross-checked · 6 unverified · 0 withheld, of 11 graded companies.

How a second data feed is admitted, and what happens when it disagrees

A second feed is read only after its reported income is matched against the primary source on at least three overlapping periods. Where the two agree the figures fill silently. Where there is too little shared history to compare, the figures are still drawn — they are the only evidence there is — and marked ⚠ unverified everywhere they appear. Where the two are known to disagree, nothing from the second feed is drawn and the affected company is named under the chart it is missing from.

14 · questions investors ask, short speakable answers

Diamond, Gems & Jewellery company comparison FAQs

These 24 answers restate the Diamond, Gems & Jewellery comparison above in question form. Every one is computed from the same 11 companies and the same reported filings as the rankings and charts, current through Jun 2026. Price and relative-strength answers run through 2026-09-25. Nothing here is estimated, and none of it is a recommendation.

Is the Diamond, Gems & Jewellery sector outperforming NIFTY 500?

Which Diamond, Gems & Jewellery company is largest by revenue?

Rajesh Exports Ltd leads with revenue of ₹8,87,510 crore, based on 10 of 11 comparable companies through Jun 2026.

Which Diamond, Gems & Jewellery company is growing fastest?

Thangamayil Jewellery Ltd has the fastest current revenue growth at 83.2%, across 10 of 11 comparable companies.

Which Diamond, Gems & Jewellery company has the strongest 4-Factor Sector Score?

D.P. Abhushan Ltd ranks first at 74.6/100 with 100% evidence confidence. The score prioritizes research; it is not a buy recommendation.

Which Diamond, Gems & Jewellery company has the lowest comparable PEG?

Vaibhav Global Ltd has the lowest comparable PEG at 0.33, among 5 of 11 companies whose earnings and growth are steady enough for the ratio to mean anything.

How much history does this Diamond, Gems & Jewellery comparison include?

The page compares up to 20 reported quarters per company for fundamentals, returns and valuation, ending Jun 2026. Missing observations remain blank rather than being estimated.

How is the 4-Factor Sector Score calculated?

The four visible contributions add directly: growth and earnings up to 35 points, capital efficiency up to 25, valuation up to 20, and relative strength up to 20. Missing or stale evidence moves only the affected contribution toward neutral.

Is there a Nifty Diamond, Gems & Jewellery index?

NSE India maintains Nifty indices for several broad sector categories — Nifty Bank, Nifty IT, Nifty Pharma and others — but not for every sub-sector grouping on this site. Whether or not an official Nifty index covers Diamond, Gems & Jewellery, this page builds its own equal-weight basket of 11 listed Diamond, Gems & Jewellery companies — one company, one vote, regardless of market value — so no single large company dominates the reading. Figures are as of Jun 2026.

Which are the best Diamond, Gems & Jewellery stocks in India?

Ranked by this page's four-factor score, D.P. Abhushan Ltd places first among 11 listed Diamond, Gems & Jewellery companies, followed by Khazanchi Jewellers Ltd. That is a ranking of published data — earnings, quality, valuation and market behaviour as of Jun 2026 — and not a recommendation; Sector Alpha is not registered with SEBI as an investment adviser.

How many Diamond, Gems & Jewellery stocks are listed in India?

This comparison covers 11 listed Diamond, Gems & Jewellery companies in India, each above the size floor the site applies, with 20 quarters of reported figures per company where the filings exist. The full ranked list is on this page, as of Jun 2026.

Which Diamond, Gems & Jewellery company is the biggest?

Rajesh Exports Ltd is the largest, with trailing-twelve-month revenue of ₹8,87,510 crore, ahead of Senco Gold Ltd at ₹9,660 crore. That covers 10 of 11 companies with comparable reporting through Jun 2026.

Which Diamond, Gems & Jewellery company has the best profit margins?

PNGS Gargi Fashion Jewellery Ltd has the highest operating margin at 19.8%, from 11 of 11 comparable companies. SJ Corporation Ltd shows the biggest recent improvement, at +16.7 percentage points. A high margin matters most when it is holding or rising, not when it is peaking.

Which Diamond, Gems & Jewellery company makes the most profit?

Senco Gold Ltd earns the most, at ₹571 crore of trailing-twelve-month net profit, from 10 of 11 comparable companies. Khazanchi Jewellers Ltd has the fastest profit growth at the ≥100% scoring cap, though growth off a small or recovering profit base overstates how much has actually changed.

Which Diamond, Gems & Jewellery company earns the highest return on capital?

D.P. Abhushan Ltd leads on return on capital employed at 39.6%, across 11 of 11 companies. Read it beside the length of its reported history: a high return that repeats for years is evidence of a durable business, while a single high reading can be a small capital base or one good year.

Which Diamond, Gems & Jewellery stock is the cheapest?

On PEG — where a LOWER number is cheaper — Vaibhav Global Ltd screens cheapest at 0.33×. Only 5 of 11 companies have earnings and growth steady enough for the ratio to mean anything, so this is not a sector-wide "cheapest stock" verdict. Cheap on a multiple is a reason to investigate, never a reason to buy on its own.

Is the Diamond, Gems & Jewellery sector beating the market?

Diamond, Gems & Jewellery has outperformed NIFTY 500 by 35% over the last 52 weeks and 13.5% over 13 weeks, measured on an equal-weight index of its current members. Inside the sector, 8 of 11 covered companies are beating the market on their own. Sector strength does not transfer evenly to every stock in it.

Which Diamond, Gems & Jewellery stock has the strongest price momentum?

SJ Corporation Ltd has the strongest relative strength against NIFTY 500. Relative strength answers last, after growth, quality and valuation: price can move well before the fundamentals confirm it, and sometimes without them confirming at all.

Which Diamond, Gems & Jewellery company scores highest for research priority?

D.P. Abhushan Ltd scores 74.6 out of 100 with 100% evidence confidence, from 25.9 points on growth and earnings, 18.5 on capital efficiency, 14.9 on valuation and 15.3 on relative strength. This ranks what deserves work next. It is not a buy recommendation, and management quality, catalysts and risk still need separate research.

How many Diamond, Gems & Jewellery companies does this comparison cover, and over what period?

It compares 11 listed companies over up to 20 reported quarters of fundamentals, ending Jun 2026, plus weekly price and relative-strength history. Membership is the full sector list — nothing is dropped for having thin data.

What is the total market cap of the Diamond, Gems & Jewellery sector?

The 11 Diamond, Gems & Jewellery companies on this page carry ₹36,821 crore of combined market value. Thangamayil Jewellery Ltd is the largest at ₹15,959 crore, about 43% of the sector's total on its own. Market value moves with price, so this reading is dated 2026-09-28.

What is the Diamond, Gems & Jewellery sector's P/E ratio?

The median price-to-earnings ratio across the 11 Diamond, Gems & Jewellery companies on this page is 17.1×, measured on the 11 that report a comparable figure. A sector-level history for this multiple is not held here, so this is a cross-section of today, not a comparison with the sector’s own past. Figures are as of 2026-09-28.

How is the Diamond, Gems & Jewellery sector performing?

8 of the 11 covered Diamond, Gems & Jewellery companies are beating NIFTY 500 on Mansfield relative strength. The sector itself is 35% ahead of NIFTY 500 over 52 weeks on an equal-weight index of its current members. Readings are as of 2026-09-28.

Why are some values on this page blank?

A blank means that company did not report a comparable figure for that period, so nothing is shown. Missing observations are never interpolated, carried forward, or replaced with a similar-looking accounting line, and a company with missing evidence has its research score pulled toward neutral rather than being scored as bad.

Is this investment advice?

No. Every figure here is a deterministic calculation from reported company filings and market data, published for research. It contains no recommendation to buy or sell any security, does not account for your circumstances, and is not a substitute for advice from a licensed adviser.

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Not SEBI Registered !! Not Investment advice !!