PC Jeweller Limited (PCJEWELLER) fair value: what the stock is really worth
As of Oct 1, 2026: fair value of PC Jeweller Limited ₹7.64, price ₹12.82, upside -40.4%, quality 41 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
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Price vs Fair Value
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Oct 1, 2026.
How to read this chart
60‑month range ₹1.89 – ₹19.19 · fair‑value band ₹4.40 – ₹12.51 · the ₹12.82 price screens above the ₹7.64 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). 1 fiscal year is left out: there the valuation rested on only a fraction of the usual models. Dashed = 300-day average. As of Oct 1, 2026.
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PC Jeweller Limited manufactures, sells, and trades in gold, diamond, silver articles, precious stone, and gold and diamond studded jewelry in India. It offers rings, earrings, pendants, gold chains, bracelets and bangles, nose pins, necklaces, and mangalsutra, as well as men's jewelry.
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PC Jeweller Limited manufactures, sells, and trades in gold, diamond, silver articles, precious stone, and gold and diamond studded jewelry in India. It offers rings, earrings, pendants, gold chains, bracelets and bangles, nose pins, necklaces, and mangalsutra, as well as men's jewelry. It sells its jewelry through its retail showrooms, franchisee showrooms, and online. It also exports its products. The company was incorporated in 2005 and is based in New Delhi, India.
Stock analysis
PC Jeweller Limited (PCJEWELLER) currently trades at ₹12.82, while our model-based Fair Value estimate is ₹7.64, 40.4% below the price, so the stock looks overvalued today.
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Valuation
Bull case: the DCF Models group reads highest at a median of ₹18.50 per share, and 4 of the 15 models we run sit above the ₹12.82 price.
Bear case: the Economic Profit group reads lowest at ₹5.56, and 11 of the 15 models stay below the price. Evidence for this calculation is low.
Scenario range: ₹4.40 (bear) to ₹12.51 (bull), the price of ₹12.82 sits above it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.
Quality & growth
The Quality Score stands at 41/100 (below-average quality), in the Consumer Cyclical sector.
Mixed Growth: Revenue is growing, but margins or cash flow do not fully confirm the trend.
PC Jeweller Limited reported revenue of ₹33.5B in FY2026 versus ₹16.1B in FY2022, a compound +20.2%/yr. Reported net income was ₹7.1B in FY2026.
Key figures
Market cap ₹129B (≈ $1.3B) · P/E ratio 14.7 · P/S ratio 3.14 · EPS (TTM) ₹0.8700 · Net margin 21.3% · Return on equity 10.0% · Return on assets (EBIT) 2.0% · Operating margin 26.9%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 50 out of 100 (low confidence).
What moves the price
The share trades about 11% below its 52-week high and 69% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Consumer Cyclical peers we cover trades at −3% fair-value upside, at −40%, PCJEWELLER screens richer than that median.
Fair Value models
Bear ₹4.40Fair Value ₹7.64Bull ₹12.51
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above is their evidence-weighted blend, not the output of a single model. Based on fiscal year 2026 figures (about 6 months old). Earnings retained since then (₹0.4410 per share) are deliberately not added.Bear ⓘBear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull ⓘBull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds.Evidence ⓘEvidence = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card.30/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Revenue growth 1 year
+49.4%
Revenue growth 3 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+10.7%
Revenue growth 5 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+3.5%
Start year 2021 (pandemic). Over 10 years: −7.5% a year
Revenue growth 18 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+13.9%
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What shareholders gained per year (last 5 years), in INR ⓘWhat the business itself delivers per year: earnings growth per share plus the dividend yield. This is what you get IF the market keeps valuing the stock the same way: it contains no assumption about the market changing its mind. Computed per share, so buybacks count and a merger does not pass as growth. For a company that pays no dividend it is pure earnings growth per share. Period: earnings growth per share as CAGR over the last 5 reported fiscal years (annual statements), plus the current dividend yield. The start value is the median of the three years around the start, so a single crisis year (a pandemic or a write-down) does not distort the rate. Measured in INR: this currency has depreciated against the euro and dollar over the long run, so part of the nominal rate is currency erosion that never reaches a EUR/USD investor.
+35.6%
Earnings growth per share plus dividend.
Earnings per share, growth per year+35.6%
Dividend (yield on the price)0.0%
Pace: 5 vs 10 years ⓘTwo data points, not a trend model: earnings growth per share over the last 5 fiscal years against the last 10. Labelled "steady" when both rates are within 3 percentage points of each other, otherwise picking up or flattening. Shown only when ten years of history exist.35.6% vs −2.7%, picking up
Profit margin 2020 to 2026 ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.9% → 19%
Start year 2021 (pandemic)
⚠ Revenue per share shrinking 14.1%/yr over ~10Y (margins intact) ⓘStructural-decline marker: revenue PER SHARE has fallen over the last decade (robust median trend, not a single year). Backtested across 2005 to 2017, such businesses trailed the market by about 2.5 percentage points per year. Display only: it does not change the fair value or the quality score.
Price, fair value, quality and upside side by side.
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Peer GroupⓘHow this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.Luxury Goods · 120 stocks
Beats the industry median on 5/11 measures
A mixed picture versus its industry peers.
Valuation
Quality Score41 · Bottom 25%
Fair Value upside−40.4% · Below median
Profitability
Return on equity (TTM)10.0% · Below median
Return on assets4.6% · Below median
Net margin (TTM)22.1% · Top 25%
Operating margin (TTM)26.9% · Top 25%
Growth and dividend
Revenue growth21.0% · Above median
Valuation Multiplesvs Luxury Goods median · lower = cheaper
P/E (TTM)14.7× · Cheaper than median
P/B1.58× · Cheaper than median
P/S (TTM)3.69× · Priciest 25%
EV/EBITDA16.2× · Pricier than median
Strength profile in five axes (Snowflake)
This stockSector peers
VALUE (fair-value potential)0· sector 15
FUTURE (revenue growth)100· sector 44
PAST (return on equity)40· sector 43
HEALTH (low debt)100· sector 99
DIVIDEND (yield)0· sector 56
VALUE 0: the price sits above our fair-value range.
For bloggers, editors and developers: paste this into your site or blog (a “Custom HTML” block in WordPress), it shows the current fair value and links back here. Free, plain HTML, and welcome. Full data streams (CSV/JSON) at /developers.
Is PC Jeweller Limited (PCJEWELLER) overvalued or undervalued?
As of Oct 1, 2026, our model estimates a fair value of ₹7.64 versus a price of ₹12.82, about −40% upside (overvalued).
What is the fair value of PCJEWELLER?
Our model-based fair value for PC Jeweller Limited is ₹7.64 (as of Oct 1, 2026), built from audited fundamentals. The current price: ₹12.82.
What is the quality score of PCJEWELLER?
PC Jeweller Limited has a Quality Score of 41/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for PC Jeweller Limited (PCJEWELLER)?
Our model-based price target is the fair value of ₹7.64 (as of Oct 1, 2026) from 15 valuation models. Cautious scenario ₹4.40, optimistic scenario ₹12.51. It is a calculation from audited fundamentals, not an analyst target.
What is the PC Jeweller Limited stock forecast for 2026?
Our models put fair value at ₹7.64, about −40% upside versus a price of ₹12.82 (overvalued). Cautious scenario ₹4.40, optimistic scenario ₹12.51. The calculation is refreshed regularly with new filings.
What is the revenue of PC Jeweller Limited (PCJEWELLER)?
PC Jeweller Limited reported trailing-twelve-month revenue of about ₹35.1B (latest available figure, as of Oct 1, 2026).
What is the intrinsic value of PC Jeweller Limited (PCJEWELLER)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For PC Jeweller Limited it is ₹7.64 per share (as of Oct 1, 2026), against a price of ₹12.82. It is the blended result of 15 valuation models (cash flow, earnings, asset, dividend).
Is PC Jeweller Limited stock overvalued or undervalued in 2026?
As of Oct 1, 2026, PCJEWELLER trades above its calculated fair value: price ₹12.82, fair value ₹7.64, a gap of about −40% (overvalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of PCJEWELLER?
No. The price is what the market pays today (₹12.82); the fair value is what the company's own numbers justify (₹7.64). For PC Jeweller Limited the two are ₹5.18 per share apart. That gap is exactly why we show both numbers side by side.
How much is PC Jeweller Limited worth?
The market values PC Jeweller Limited at about ₹129B (market capitalisation, as of Oct 1, 2026). Per share that is ₹12.82; our models calculate a fair value of ₹7.64 per share.
What do the bullish and bearish scenarios say about PCJEWELLER?
Our models span a range for PC Jeweller Limited: cautious scenario ₹4.40, base ₹7.64, optimistic ₹12.51 per share (as of Oct 1, 2026, price ₹12.82). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of PCJEWELLER?
PC Jeweller Limited trades at a price-to-earnings ratio of 14.7 (as of Oct 1, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of ₹7.64 is built from several models across several years. Other multiples: P/B 1.6, P/S 3.7, EV/EBITDA 16.2.
How solid is the balance sheet of PC Jeweller Limited (PCJEWELLER)?
Balance-sheet figures for PC Jeweller Limited (as of Oct 1, 2026): return on equity 10.0%. They feed the Quality Score of 41/100, which measures business quality independently of the share price.
How far is PCJEWELLER from its 52-week high?
PC Jeweller Limited trades at ₹12.82, about 11% below its 52-week high of ₹14.47 and 69% above the low of ₹7.57 (as of Oct 1, 2026). Distance from the high says nothing about value: that is what the fair value of ₹7.64 is for.
Which stocks are comparable to PC Jeweller Limited?
From the same area (Consumer Cyclical) we also value Compagnie Financière Richemont SA, Christian Dior SE, Titan Company, Kering SA, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is PC Jeweller Limited stock attractive at the current price?
The data as of Oct 1, 2026: price ₹12.82, calculated fair value ₹7.64 (−40%), Quality Score 41/100, from 15 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of PCJEWELLER calculated?
We run PC Jeweller Limited through 15 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of ₹7.64, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 14.5 % above its aggregate fair value. PC Jeweller Limited itself currently trades above fair value. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of PC Jeweller Limited (PCJEWELLER)?
The closing price on Oct 1, 2026 was ₹12.82. Our model-based fair value is ₹7.64, about −40% upside (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with PC Jeweller Limited right now?
The price sits above even our optimistic bull case (₹12.51). The favourable scenario is already priced in. Weak quality (41/100) and above fair value at the same time, the margin of safety is missing on both counts. The model range is unusually wide (₹4.40 to ₹12.51). The outcome hinges heavily on assumptions, so read the point estimate with caution. The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution.
Key figures of PC Jeweller Limited
How large is the market capitalisation of PC Jeweller Limited (PCJEWELLER)?
The market capitalisation of PC Jeweller Limited is ₹129B (≈ $1.3B). The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of PC Jeweller Limited (PCJEWELLER)?
The price-to-sales ratio of PC Jeweller Limited is 3.14 (P/E × margin). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of PC Jeweller Limited (PCJEWELLER)?
Earnings per share at PC Jeweller Limited are ₹0.8700 (price ÷ EPS = P/E 14.7). Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of PC Jeweller Limited (PCJEWELLER)?
The net margin of PC Jeweller Limited is 21.3% (fiscal year 2026). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of PC Jeweller Limited (PCJEWELLER)?
The return on equity (ROE) of PC Jeweller Limited is 10.0% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of PC Jeweller Limited (PCJEWELLER)?
On an EBIT basis the return on assets of PC Jeweller Limited is 2.0% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of PC Jeweller Limited (PCJEWELLER)?
The operating margin of PC Jeweller Limited is 26.9% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at PC Jeweller Limited (PCJEWELLER)?
Revenue at PC Jeweller Limited is growing +21.0% versus a year earlier (3y avg +10.7%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at PC Jeweller Limited (PCJEWELLER)?
Earnings per share at PC Jeweller Limited are growing +43.8% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does PC Jeweller Limited (PCJEWELLER) generate?
The free cash flow of PC Jeweller Limited is −₹2.0B (fiscal year 2026). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
How much net debt does PC Jeweller Limited (PCJEWELLER) carry?
The net debt of PC Jeweller Limited is ₹10.3B (fiscal year 2026). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
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