MVGJL is a hyperlocal jewellery retail chain that is involved in retailing gold, silver, diamond, platinum, and various studded jewellery and operates through 16 showrooms and 2 franchisee stores spread across Andhra Pradesh and Telangana. Regional player in the organized jewellery segment.
Company sells its products under the brand name Vaibhav Jewellers
Product Categories:
Earrings, Chains, Rings, Necklace, Mangalsutra, Bangles, Haram, Vaddanam, Pendants, Bracelets, Gold Coins, etc.
Market Share:
MVGJL has a market share of around Andhra Pradesh -5% and Telangana -14%** of the organized market.
Operating Profit Margin: 7 % - Good
P/E - 16.6 - Lowest in the industry (+ ve point) Industry P/E - 42.5
Expansion into other geographical territory holds the key for rerating
If we compare the market cap & the quarterly profit with other same level companies; sooner or later this stock looks like be trading at approx 25 P/E ratio & the price should be around 435 , which leads to an upside of 46%
