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Shanti Gold International Limited
(SHANTIGOLD)
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Rating:69Neutral
Price Target:
₹270.00
▲(41.14% Upside)
Action:Reiterated
Date:08/28/26
The score is driven mainly by mixed financial performance: very strong reported growth and earnings are weighed down by persistently negative operating/free cash flow and leverage-related risk. Technicals are supportive with a clear uptrend and solid momentum, and valuation appears attractive based on the low P/E.
Positive Factors
Accelerating revenue growth
The sharp acceleration in revenue indicates substantial expansion in sales and market activity. If the enlarged revenue base is retained, it can support operating scale, stronger supplier relationships, and improved earnings capacity over the next several periods.
Negative Factors
Persistently negative cash generation
Persistent negative operating and free cash flow means reported profits are not translating into liquidity. This can force reliance on debt, equity, or working-capital improvements to sustain growth, increasing funding risk and limiting financial flexibility.
Read all positive and negative factors
Positive Factors
Negative Factors
Accelerating revenue growth
The sharp acceleration in revenue indicates substantial expansion in sales and market activity. If the enlarged revenue base is retained, it can support operating scale, stronger supplier relationships, and improved earnings capacity over the next several periods.
Read all positive factors
Shanti Gold International Limited (SHANTIGOLD) vs. iShares MSCI India ETF (INDA)
Market Cap
₹19.81B
Dividend YieldN/A
Average Volume (3M)155.47K
Price to Earnings (P/E)9.1
Beta (1Y)0.80
Revenue GrowthN/A
EPS GrowthN/A
CountryIN
Employees200
SectorGeneral
Sector StrengthN/A
IndustryLuxury Goods
Share Statistics
EPS (TTM)10.08
Shares Outstanding76,739,470
10 Day Avg. Volume151,168
30 Day Avg. Volume155,472
Financial Highlights & Ratios
PEG Ratio0.04
Price to Book (P/B)1.73
Price to Sales (P/S)0.51
P/FCF Ratio-3.83
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)28.48
Revenue Forecast (FY)₹33.05B
Shanti Gold International Limited Business Overview & Revenue Model
Company Description
Shanti Gold International Limited specializes in the creation, manufacturing, and wholesale supply of gold jewelry. The company's market reach extends to India, the United States, the United Arab Emirates, Qatar, and Singapore. Its extensive produ...
Shanti Gold International Limited Financial Statement Overview
Summary
Income Statement
78
Positive
Balance Sheet
64
Positive
Cash Flow
28
Negative
| Breakdown | TTM | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 7.27B | 20.19B | 11.06B | 7.11B | 6.79B |
| Gross Profit | 1.01B | 2.06B | 1.07B | 617.23M | 527.84M |
| EBITDA | 948.90M | 2.09B | 972.01M | 529.81M | 453.31M |
| Net Income | 638.92M | 1.40B | 558.42M | 268.68M | 198.19M |
Balance Sheet | |||||
| Total Assets | 7.68B | 8.56B | 4.20B | 3.25B | 2.57B |
| Cash, Cash Equivalents and Short-Term Investments | 596.13M | 497.89M | 141.88M | 428.82M | 112.10M |
| Total Debt | 1.84B | 2.16B | 2.43B | 2.11B | 1.65B |
| Total Liabilities | 2.26B | 2.58B | 2.67B | 2.29B | 1.87B |
| Stockholders Equity | 5.42B | 5.98B | 1.52B | 966.69M | 698.05M |
Cash Flow | |||||
| Free Cash Flow | -2.14B | -2.70B | -218.91M | -234.15M | -87.52M |
| Operating Cash Flow | -2.12B | -2.64B | -153.03M | -130.26M | -48.38M |
| Investing Cash Flow | 36.21M | -166.50M | 12.67M | -50.75M | -44.77M |
| Financing Cash Flow | 2.12B | 2.89B | 132.55M | 196.27M | 91.92M |
Shanti Gold International Limited Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
69 Neutral | ₹19.81B | 9.08 | ― | ― | ― | ― | |
66 Neutral | ₹6.98B | 12.28 | ― | ― | 30.27% | 54.08% | |
63 Neutral | ₹9.84B | 12.35 | ― | 0.16% | 16.75% | 26.80% | |
59 Neutral | ₹294.82M | 12.76 | ― | ― | -16.83% | 181.23% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% | |
51 Neutral | ₹145.65M | 7.80 | ― | 0.44% | -2.92% | ― | |
41 Neutral | ₹266.28M | -25.39 | ― | 0.46% | 113.71% | 42.76% |
* General Sector Average
IN:SHANTIGOLD
Shanti Gold International Limited
258.15
38.32
17.43%
IN:GOENKA
Goenka Diamond & Jewels Ltd.
0.84
-0.14
-14.29%
IN:KANANIIND
Kanani Industries Limited
1.49
-0.50
-25.13%
IN:LYPSAGEMS
Lypsa Gems & Jewellery Ltd.
4.94
-2.27
-31.48%
IN:RADHIKAJWE
Radhika Jeweltech Ltd
83.38
-8.45
-9.20%
IN:RBZJEWEL
RBZ Jewellers Limited
174.40
35.20
25.29%
Shanti Gold International Limited Corporate Events
Shanti Gold Launches ₹99.83 Crore Rights Issue to Existing Shareholders
Aug 11, 2026
Shanti Gold International Limited has launched a rights issue of equity shares to its eligible shareholders of record as of August 6, 2026, aiming to raise approximately ₹99.83 crore, assuming full subscription. The company has published man...
Shanti Gold to Join InsightX 2026 Virtual Investor Conference
Jun 8, 2026
Shanti Gold International Limited has announced that it will participate in the “InsightX 2026 – Investor Conference” organized by Choice Equity Broking Pvt. Ltd., scheduled as a virtual group meeting on June 12, 2026, from 2:00 ...
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.