Moksh Ornaments Ltd. (IN:MOKSH)
:MOKSH
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Moksh Ornaments Ltd.
(MOKSH)
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Rating:58Neutral
Price Target:
₹12.50
▼(-12.59% Downside)
Action:Reiterated
Date:05/16/26
The score is driven primarily by financials: strong revenue growth and a much improved leverage profile are positives, but thin/compressing margins and a weak cash-flow record (recurring negative free cash flow) materially raise risk. Technicals are mixed/neutral and valuation appears moderate at ~15.4x earnings, providing only limited support.
Positive Factors
Solid revenue growth momentum
Sustained revenue expansion (≈17% in FY2026) indicates growing customer demand or share gains in core jewellery markets. Over 2–6 months this supports scale economies, better absorption of fixed costs, and gives management room to invest in product or distribution to reinforce durable growth.
Negative Factors
Thin and compressing margins
Material margin compression to low single digits reduces the firm's margin of safety and limits internal cash generation. Persistently thin gross and operating margins leave earnings vulnerable to commodity, labour, or pricing shocks and constrain the ability to reinvest for durable competitive improvement.
Read all positive and negative factors
Positive Factors
Negative Factors
Solid revenue growth momentum
Sustained revenue expansion (≈17% in FY2026) indicates growing customer demand or share gains in core jewellery markets. Over 2–6 months this supports scale economies, better absorption of fixed costs, and gives management room to invest in product or distribution to reinforce durable growth.
Read all positive factors
Moksh Ornaments Ltd. (MOKSH) vs. iShares MSCI India ETF (INDA)
Market Cap
₹1.07B
Dividend YieldN/A
Average Volume (3M)623.14K
Price to Earnings (P/E)15.4
Beta (1Y)0.97
Revenue Growth17.08%
EPS Growth-25.81%
CountryIN
Employees13
SectorConsumer Cyclical
Sector Strength84
IndustryLuxury Goods
Share Statistics
EPS (TTM)1.57
Shares Outstanding86,322,716
10 Day Avg. Volume217,453
30 Day Avg. Volume623,139
Financial Highlights & Ratios
PEG Ratio-0.35
Price to Book (P/B)1.18
Price to Sales (P/S)0.22
P/FCF Ratio-45.76
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)N/A
Revenue Forecast (FY)N/A
Moksh Ornaments Ltd. Business Overview & Revenue Model
Company Description
Moksh Ornaments Ltd. (MOKSH) is a leading player in the jewelry manufacturing and retail sector, specializing in high-quality gold and diamond ornaments. The company operates in both wholesale and retail markets, offering a diverse range of produc...
How the Company Makes Money
The company makes money primarily by selling jewellery products. Its revenue model is driven by (1) proceeds from the manufacture and sale of jewellery (earning a spread between production cost—metal, stones, labour, overheads—and realized selling...
Moksh Ornaments Ltd. Financial Statement Overview
Summary
Income Statement
63
Positive
Balance Sheet
74
Positive
Cash Flow
34
Negative
| Breakdown | TTM | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 5.80B | 6.79B | 5.80B | 4.49B | 4.47B | 3.24B |
| Gross Profit | 297.92M | 220.48M | 292.83M | 147.17M | 174.82M | 144.37M |
| EBITDA | 166.74M | 151.54M | 166.74M | 139.46M | 108.35M | 79.86M |
| Net Income | 84.28M | 98.54M | 84.28M | 62.53M | 61.35M | 51.34M |
Balance Sheet | ||||||
| Total Assets | 1.44B | 1.85B | 1.44B | 1.07B | 794.98M | 495.98M |
| Cash, Cash Equivalents and Short-Term Investments | 90.28M | 67.20M | 90.28M | 86.62M | 52.25M | 27.27M |
| Total Debt | 324.76M | 246.02M | 324.76M | 494.45M | 277.50M | 40.95M |
| Total Liabilities | 331.55M | 556.94M | 331.55M | 499.52M | 285.01M | 47.35M |
| Stockholders Equity | 1.11B | 1.29B | 1.11B | 572.50M | 509.97M | 448.63M |
Cash Flow | ||||||
| Free Cash Flow | 0.00 | -33.19M | -274.70M | -184.13M | -212.73M | 255.57M |
| Operating Cash Flow | 0.00 | 38.55M | -269.98M | -184.09M | -212.73M | 259.63M |
| Investing Cash Flow | 0.00 | -71.74M | -4.72M | -44.00K | 0.00 | -4.06M |
| Financing Cash Flow | 0.00 | 7.17M | 271.21M | 218.50M | 237.71M | -322.92M |
Moksh Ornaments Ltd. Technical Analysis
Negative
14.30
Price Trends
11.55
Positive
12.80
Negative
13.50
Negative
Market Momentum
0.23
Positive
45.82
Neutral
5.00
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:MOKSH, the sentiment is Negative. The current price of 14.3 is above the 20-day moving average (MA) of 12.76, above the 50-day MA of 11.55, and above the 200-day MA of 13.50, indicating a neutral trend. The MACD of 0.23 indicates Positive momentum. The RSI at 45.82 is Neutral, neither overbought nor oversold. The STOCH value of 5.00 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for IN:MOKSH.
Moksh Ornaments Ltd. Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
73 Outperform | ₹6.98B | 7.18 | ― | 0.26% | 2.98% | 35.47% | |
61 Neutral | $18.38B | 12.79 | -2.54% | 3.03% | 1.52% | -15.83% | |
60 Neutral | ₹4.96B | 7.39 | ― | ― | 20.06% | 41.23% | |
58 Neutral | ₹1.07B | 15.41 | ― | ― | 17.08% | -25.81% | |
53 Neutral | ₹298.78M | 21.13 | ― | ― | 3.48% | 68.28% | |
49 Neutral | ₹144.47M | 3.21 | ― | ― | 48.34% | 57.43% | |
41 Neutral | ₹266.28M | -23.75 | ― | ― | 89.66% | 59.29% |
* Consumer Cyclical Sector Average
IN:MOKSH
Moksh Ornaments Ltd.
12.35
-1.73
-12.29%
IN:GOENKA
Goenka Diamond & Jewels Ltd.
0.84
-0.04
-4.55%
IN:KANANIIND
Kanani Industries Limited
1.51
-0.64
-29.77%
IN:LYPSAGEMS
Lypsa Gems & Jewellery Ltd.
4.90
-1.70
-25.76%
IN:RADHIKAJWE
Radhika Jeweltech Ltd
59.18
-31.23
-34.54%
IN:RBZJEWEL
RBZ Jewellers Limited
124.10
-17.90
-12.61%
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.