List Of Best Jewelry Stocks in India 2024
Want to add some sparkle to your investment portfolio? The challenge is to select companies that produce quality products and also exhibit strong financial health.
Imagine investing in a diamond whose value increases over time. Jewelry stocks provide this opportunity to investors. In today’s blog, we will discuss some of the best jewelry stocks, their performance, and the future of the jewelry industry.
Overview of the Jewelry Industry
India’s jewelry market was valued at USD 85.52 billion and is expected to grow at a CAGR of 5.7% between 2024 and 2030. The sector employs more than 5 million people and contributes close to 7% of the nation’s GDP (Gross Domestic Product). India is the world’s fifth-largest importer of gold, accounting for 8% of global gold imports.
The processing of diamonds is another important area, with India being the hub for cutting and polishing 14 out of every 15 rough diamonds in the world. E-commerce is at its peak, and the demand for branded jewelry is rising. The jewelry industry is expected to perform well in the near future due to an increase in demand.
Top Jewelry Stocks Based on Market Capitalization
The top Jewelry stocks in 2024 are:
| S.No. | Jewelry Stocks |
|---|---|
| 1 | Titan Company Ltd. |
| 2 | Kalyan Jewellers India Ltd. |
| 3 | Rajesh Exports Ltd. |
| 4 | Senco Gold Pvt. Ltd. |
| 5 | Vaibhav Global Ltd. |
| 6 | Thangamayil Jewellery Ltd. |
| 7 | PC Jeweller Ltd. |
The jewelry stocks have been listed in descending order based on their market capitalization in the table below:
| Company | Market Capitalization (In crores) | Share Prices (In INR) | 52 Week High Price (In INR) | 52-Week Low Price(In INR) |
| Titan Company Ltd. | 3,10,206 | 3,494 | 3,887 | 2,882 |
| Kalyan Jewellers India Ltd. | 58,518 | 568 | 634 | 163 |
| Rajesh Exports Ltd. | 9,258 | 314 | 560 | 259 |
| Senco Gold Pvt. Ltd. | 7,406 | 953 | 1,177 | 380 |
| Vaibhav Global Ltd. | 5,522 | 333 | 543 | 263 |
| Thangamayil Jewellery Ltd. | 4,846 | 1,766 | 1,967 | 1,068 |
| PC Jeweller Ltd. | 3,994 | 85.8 | 85.8 | 25.4 |
Best Jewelry Stocks in India 2024 – An Overview
The best jewelry stocks in India are given below, along with a brief overview:
1. Titan Company Ltd.
Introduced in 1984, Titan Company Ltd is India’s largest lifestyle company. It designs a wide range of products, from watches to eyewear and accessories. The jewelry division of Titan, Tanishq, is the brand that brings in over 80% of revenues to its bottom line. Tanishq is an Indian jewelry brand that has changed the landscape of bridal jewelry and modern happy jewel pieces, branding itself in over 400 stores across India and abroad. The company is expected to double its sales via the omni-channel route.
2. Kalyan Jewellers India Ltd.
The founder of Kalyan Jewellers India Ltd was T.S. Kalyanaraman, and it came into existence in 1993; a plethora of gold, diamond, and precious stone jewelry is available here. Kalyan Jewellers has a customer-centric business model that offers transparency, quality, and the widest choice to all customers, providing an extensive range of jewelry designs with unmatched warranties. In smaller towns, the company’s distinctive My Kalyan program, which has over 750 centers, helps increase its consumer touch points and plays a very sizable role in enhancing its market presence.
3. Rajesh Exports Ltd.
Rajesh Exports owns more than 80 retail stores under the brand name “Shubh Jewellers.” They provide high-quality gold and diamond jewelry pieces, emphasizing craftsmanship. The company has expertise in various activities, such as refining gold, making ornaments, and exporting bullion.
4. Senco Gold Pvt. Ltd.
Founded in 1994, Senco Gold Pvt. Ltd. is one of the largest jewelry retailers in India, and It has a presence through the chain of 165 showrooms spread across various states, offering customers an exceptional range of gold, diamond, and silver jewelry. Senco Gold has stayed true to its principles of offering fine craftsmanship and affordable prices through a customer-centric business model.
5. Vaibhav Global Ltd.
Founded in 1989, Vaibhav Global Ltd. is a multinational fashion jewelry retailer based in Jaipur, India. Active in more than 30 countries, the company works on a direct-to-consumer model through TV shopping channels and e-commerce platforms. Vaibhav Global offers customer support, easy and free returns, and a lifetime warranty on select items. Vaibhav Global Ltd. employs more than 1,000 employees
6. Thangamayil Jewellery Ltd.
Thangamayil Jewellery Limited is a local jewelry retailer in India, established in 2000. Headquartered in Madurai, the company is engaged in the retailing of jewelry made from gold, silver, and diamond and has 54 retail stores. Thangamayil is committed to delivering the highest levels of quality, trust, and price competitiveness. They have a selection of both classic and trendy forms of jewelry to meet the needs, choices & preferences of every consumer. In addition, the company offers gold-saving schemes and personalized jewelry designing services.
4. PC Jeweller Ltd.
PC Jeweller Ltd., which was founded in 2005 by Padam Chand Gupta and Balram Garg, is a leading jewelry retailer. The company has 80 stores offering gold, diamond, and silver jewelry. PC Jeweller strikes a crucial balance between traditional craftsmanship and modern retail strategies, aiming to cater to both domestic and international markets. With its strong retail network of stores and a highly visible online presence, the brand is popular among the general public.
Top Jewelry Stocks Based on 1-year Return
The top Jewelry stocks in 2024 are:
The best Jewelry stocks according to 1-year return are given below, along with a brief overview of the services they provide:
| Company | 1-Year Return |
| Kalyan Jewellers India Ltd. | 225.85% |
| PC Jeweller Ltd. | 170.27 |
| Senco Gold Ltd. | 152.43% |
| Thangamayil Jewellery Ltd. | 69.86% |
| Tribhovandas Bhimji Zaveri Ltd. (TBZ) | 67.21% |
| Goldiam International Ltd. | 54.23% |
| Asian Star Company Ltd. | 18.59% |
| Titan Company Ltd. | 16.05% |
Best Jewelry Stocks in India Based on 1-Year Return – An Overview
The best jewelry stocks according to 1-year return are given below:
1. Tribhovandas Bhimji Zaveri Ltd. (TBZ)
Tribhovandas Bhimji Zaveri Ltd. (TBZ) is India’s renowned and trusted jewelry retailer, established in 1864. TBZ has 37 showrooms across 23 cities that offer a variety of jewelry designs in gold, diamonds, and platinum. Innovation, craftsmanship, and customer satisfaction are the main pillars of its business model. TBZ is famous for its bridal collection and modern designs. They offer services in the customization of jewelry, gold investment plans, and lifetime buyback guarantee.
2. Goldiam International Ltd.
Goldiam International Ltd., founded in 1986, is a manufacturer and exporter of diamond jewelry. The company has advanced manufacturing facilities based in Mumbai and exports to the United States, Europe, and other countries. Goldiam International is a globally diversified jewelry maker that offers an array of fine rings, earrings, and bracelets. Their service comprises jewelry design, customization, and full quality assurance, and they ensure 100% customer satisfaction.
3. Asian Star Company Ltd.
Asian Star Company Ltd. was founded in 1971 and is one of the leading diamond and Jewellery manufacturers & retailers with a global presence. The company operates across more than 30 countries and employs over 1800 artisans. It is vertically integrated, with in-house sourcing, manufacturing, and retailing. Asian Star indulgent collections boast an array of diamond and gold jewelry, which signifies its specialization in quality and craftsmanship.
An overview of the remaining companies is mentioned above.
Key Performance indicators of Jewelry Stocks
| Company | Net Profit Margin (%) | ROCE (%) | TTM EPS(in Rs.) | TTM P/E (x) | P/B (x) |
| Titan Company Ltd. | 6.84 | 34.89 | 39.33 | 88.84 | 33.26 |
| Kalyan Jewellers India Ltd. | 3.21 | 21.24 | 5.38 | 105.54 | 14.04 |
| Rajesh Exports Ltd. | 0.11 | 3.29 | 11.36 | 27.6 | 0.74 |
| Senco Gold Ltd. | 3.45 | 22.19 | 24.29 | 39.24 | 5.38 |
| Vaibhav Global Ltd. | 4.16 | 14.77 | 7.71 | 43.17 | 4.85 |
| Thangamayil Jewellery Ltd. | 3.22 | 31.92 | 44.92 | 39.32 | 9.83 |
| PC Jeweller Ltd. | -103.95 | -4.27 | -17.41 | -6.35 | 1.03 |
| Tribhovandas Bhimji Zaveri Ltd. (TBZ) | 2.36 | 17.83 | 8.16 | 17.94 | 1.85 |
| Goldiam International Ltd. | 15.07 | 19.02 | 8.51 | 22.75 | 4.01 |
| Asian Star Company Ltd. | 2.2 | 8.42 | 48.38 | 17.23 | 1.02 |
Benefits of Investing in Jewelry Stocks
The benefits of investing in jewelry stocks are:
- Significant stock returns: Jewelry stocks have delivered exceptional returns in the past few years.
- Market Demand: Market demand is steady, with gold and jewelry being the top investments among Indians, which, in turn, provides for higher revenue growth and leads to strong investor confidence.
- Diversification: Investing in jewelry stocks could be one way to diversify your portfolio, which helps balance risks associated with other sectors.
Factors to consider before investing in the Jewelry industry
An investor must consider the following factors before investing in jewelry stocks:
- Statutory Environment: Be aware of the changing regulations related to industry that affect manufacturing and mining as they impact operational costs and financial results.
- Price Fluctuations: Prices of precious metals and gemstones are driven by economic conditions and consumer preferences. These factors impact the bottom-line profitability and the timing of investments.
- Company Information on Financial Health: Research the companies for their financial stability based on growth in revenues, the level of debt, and profitability.
The Future of Jewelry Industry
The future of the Indian jewelry sector looks bright. Consumers now demand transparency and responsibility from brands, so sustainability with an ethical touch is essential. Many companies are responding to this shift by adopting eco-friendly materials and ethical sourcing practices.
The Indian jewelry market is growing at an explosive rate due to strong domestic demand and exports. Growth in the global market results from different factors, including innovation in designs (personalized and modern) and a rise in disposable incomes.
Conclusion
To summarize, jewelry stocks in India will be very promising in 2024 and beyond. Jewelry stocks can be a valuable addition to investor portfolios due to the diversification benefit. Before investing, it is important to do a thorough analysis of the companies and their strengths. It is advised to consult a financial advisor before investing.
Frequently Asked Questions (FAQs)
Why is Titan Company a leader in the jewelry industry?
Titan Company is one of the leading jewelry companies, as it has a huge network of retail outlets, enormous growth potential, and brand value in the Indian market.
What would be the jewelry stock growth drivers in India for 2024?
Growth drivers would come from increasing demand by the consumer on one side, an expanding retail network on the other, and finally, supportive economic factors to the industry.
What is the impact of gold price fluctuation on jewelry stocks?
Fluctuations in the price of gold will directly affect jewelry stocks since fluctuations in the price of gold affect profit margins and, hence, the performance of jewelry stocks.
What role does international expansion have on the performance of jewelry stocks?
International expansion enhances the performance of jewelry stocks by diversifying revenue streams and reducing reliance on the domestic market.
What are the risks associated with investing in jewelry stocks in India?
Some of the major risks include market volatility, regulatory changes, and fluctuations in the price of gold that can impact profitability and, in turn, affect stock performance.
