Manoj Jewellers IPO Review

Manoj Jewellers Limited is engaged in the retail and wholesale business of jewellery and ornaments made from gold and diamonds, embellished with precious and semiprecious stones. Their extensive portfolio includes a wide range of items such as rings, earrings, armlets, pendants, gajrahs, nose rings, bracelets, chains, necklaces, bangles, and other wedding jewellery pieces.

The Company is promoted by Mr. Manoj Kumar have 16 Years in the fields of Management and Operations, Ms. Raj Kumari have +2 Years in the fields of Operations, Mr. Sunil Shantilal have 16 Years in the fields of HR and Finance and Ms. Shalu. The Promoters together with a professional team of managers and control the major affairs of the business operations with their considerable experience in the Industry.

The Revenues from operations for the period ended on Dec 31, 2024, Fiscals ended 2024, 2023 and 2022 were ₹ 4,297.20 Lakh, ₹ 4,338.42 Lakh, ₹ 1,363.52 Lakh and ₹ 675.82 Lakh respectively. The EBITDA for the period ended on Dec 31, 2024, Fiscals ended 2024, 2023 and 2022 were ₹ 677.37 Lakh, ₹ 575.01 Lakh, ₹ 204.02 Lakh, and ₹ 165.50 Lakh, respectively. The Profit after Tax for the period ended on Dec 31, 2024, Fiscals ended 2024, 2023 and 2022 were ₹ 376.66 Lakh, ₹ 324.13 Lakh, ₹ 62.36 Lakh, and ₹ 36.47 Lakh respectively. This indicates a steady growth in financial performance.

The Company Key Performance Indicates the pre-issue EPS of ₹ 5.42 and post-issue EPS of ₹ 3.61 for FY24. The pre-issue P/E ratio is 9.96x, while the post-issue P/E ratio is 14.97x against the Industry P/E ratio is 26x. The company's ROCE for FY24 is 30.57%, ROE for FY24 is 39.63% and RoNW is 33.08%. The Annualised EPS based on the latest financial data is ₹ 11.18 and PE ratio is 4.82x. These metrics suggest that the IPO is fairly priced.

The Grey Market Premium (GMP) of Manoj Jewellers showing listing gains of 0.00 %.Given the company's financial performance and the valuation of the IPO, we recommend Investors to Avoid to the Manoj Jewellers Limited IPO for Listing gain or Long Term Investment Purposes.

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About the Author
CA Abhay Kumar (Also known as  CA Abhay Varn) is a qualified Chartered Accountant by profession and cleared CA at age 21. He is a SEBI Registered Research Analyst with Registration Number - INH300008465. He Possesses 8+ years of experience in the Stock Market Field and has also worked in Big CA firms.