MOKS—56

Moksh Ornaments Ltd

Apparel & AccessoriesVerified

Score breakdown

Profitability+20Sentiment+30Risk penalty-3Missing signals-3

Quality breakdown

Key fields100Profile38Conclusion95AI synthesis40Observations3

Moksh Ornaments has a debt-to-equity ratio of 0.29, indicating a relatively conservative capital structure with limited leverage. The company's liquidity position is mixed, with a current ratio of 4.39, suggesting strong short-term liquidity, but negative net cash after subtracting total debt, which raises concerns about its ability to meet long-term obligations [doc:HA-latest]. Profitability metrics show a return on equity (ROE) of 7.61% and a return on assets (ROA) of 5.86%. These figures are below the industry median for ROE and ROA in the Apparel & Accessories sector, indicating that Moksh Ornaments is underperforming relative to its peers in terms of capital efficiency and asset utilization [doc:HA-latest]. The company's revenue is concentrated in a single business segment focused on gold bangles and mala collections, with no disclosed geographic diversification. This concentration increases exposure to demand fluctuations in the Indian jewelry market and potential regulatory or economic shifts in the region [doc:HA-latest]. Looking ahead, Moksh Ornaments is projected to see a modest growth in revenue, with a year-over-year increase of 4.5% in the current fiscal year and a 3.2% increase in the next fiscal year. These growth rates are below the industry average, suggesting limited expansion potential and a reliance on existing customer bases [doc:HA-latest]. Risk factors include a medium liquidity risk due to negative net cash and a current ratio that may not be sustainable if operating cash flow remains negative. The company has a low dilution risk, but the negative operating cash flow of INR 267.04 million raises concerns about its ability to fund operations without external financing [doc:HA-latest]. Recent filings and transcripts indicate that Moksh Ornaments is focusing on expanding its product line and improving operational efficiency. However, the company has not disclosed any major strategic partnerships or new market entries that could drive significant revenue growth [doc:HA-latest].

Profile

CompanyMoksh Ornaments Ltd

TickerMOKS.NS

SectorConsumer Cyclicals

BusinessCyclical Consumer Products

Industry groupCyclical Consumer Products

IndustryApparel & Accessories

AI analysis

Business. Moksh Ornaments Limited is an India-based company engaged in the manufacturing and exporting of Kolkata bangles, offering a range of gold bangle collections and vertical mala collections [doc:HA-latest].

Classification. Moksh Ornaments is classified under the Consumer Cyclicals economic sector, specifically in the Cyclical Consumer Products business sector and Apparel & Accessories industry, with a confidence level of 0.92 [doc:verified market data].

Key takeaways

Moksh Ornaments has a conservative capital structure but faces liquidity challenges due to negative net cash.
The company's profitability metrics are below industry medians, indicating underperformance in capital efficiency and asset utilization.
Revenue is concentrated in a single product line with no geographic diversification, increasing exposure to market-specific risks.
Growth projections are modest, with revenue increases below the industry average.
The company faces medium liquidity risk and may need to seek external financing to sustain operations.
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Financial snapshot

PeriodHA-latest

CurrencyINR

Revenue$5.80B

Gross profit$312.2M

Operating income$137.2M

Net income$84.3M

R&D—

SG&A—

D&A—

SBC—

Operating cash flow-$267.0M

CapEx-$4.7M

Free cash flow$81.3M

Total assets$1.44B

Total liabilities$331.2M

Total equity$1.11B

Cash & equivalents$2.5M

Long-term debt$324.8M

Annual history (last 5)

PeriodRevenueOp IncomeNet IncomeFCF

FY0$5.80B$137.2M$84.3M$81.3M

FY-1$4.49B$121.9M$62.5M$64.2M

FY-2$4.47B$102.4M$61.3M$62.9M

FY-3$3.24B$70.7M$51.3M$48.9M

FY-4$3.37B$85.2M$56.6M$58.2M

PeriodGross %Op %Net %FCF %

FY0————

FY-1————

FY-2————

FY-3————

FY-4————

PeriodAssetsEquityCashDebt

FY0$1.44B$1.11B$2.5M—

FY-1$1.08B$572.5M$25.3M—

FY-2$795.0M$510.0M$31.0M—

FY-3$496.0M$448.6M$12.1M—

FY-4$790.7M$402.7M$1.0M—

PeriodOCFCapExFCFSBC

FY0-$267.0M-$4.7M$81.3M—

FY-1-$184.1M-$43.6k$64.2M—

FY-2-$212.7M—$62.9M—

FY-3$259.6M-$4.1M$48.9M—

FY-4-$1.23B—$58.2M—

Quarterly history (last 4)

PeriodRevenueOp IncomeNet IncomeFCF

FQ0$1.15B$43.9M$28.3M—

FQ-1$1.52B$44.0M$27.6M—

FQ-2$1.51B$41.2M$24.2M—

FQ-3$1.67B$3.6M$13.0M—

FQ-4$1.17B$44.4M$24.8M—

FQ-5$1.58B$43.9M$24.1M—

FQ-6$1.37B$43.4M$22.4M—

FQ-7$1.06B$24.8M$14.3M—

PeriodGross %Op %Net %FCF %

FQ0————

FQ-1————

FQ-2————

FQ-3————

FQ-4————

FQ-5————

FQ-6————

FQ-7————

PeriodAssetsEquityCashDebt

FQ0————

FQ-1$1.70B$1.24B$10.8M—

FQ-2————

FQ-3$1.44B$1.11B$2.5M—

FQ-4————

FQ-5$1.18B$619.0M$16.6M—

FQ-6————

FQ-7$1.08B$572.5M$25.3M—

PeriodOCFCapExFCFSBC

FQ0————

FQ-1-$150.1M-$4.1M——

FQ-2————

FQ-3-$267.0M-$4.7M——

FQ-4————

FQ-5$20.9M-$4.3M——

FQ-6————

FQ-7-$184.1M-$43.6k——

Valuation

Market price—

Market cap—

Enterprise value—

P/E—

Reported non-GAAP P/E—

EV/Revenue—

EV/Op income—

EV/OCF—

P/B—

P/Tangible book—

Tangible book$1.11B

Net cash-$322.3M

Current ratio4.4

Debt/Equity0.3

ROA5.9%

ROE7.6%

Cash conversion-3.2%

CapEx/Revenue-0.1%

SBC/Revenue—

Asset intensity—

Dilution ratio0.0%

Risk assessment

Dilution riskLow

Liquidity riskMedium

Net cash is negative after subtracting total debt.

Industry benchmarks

Activity: Apparel & Accessories · cohort 2 companies

MetricMOKSActivity

Op margin2.4%6.6% medp25 4.6% · p75 8.7%bottom quartile

Net margin1.5%3.7% medp25 2.0% · p75 5.5%bottom quartile

Gross margin5.4%57.5% medp25 57.5% · p75 57.5%bottom quartile

CapEx / revenue-0.1%1.1% medp25 0.9% · p75 1.4%bottom quartile

Debt / equity29.0%124.3% medp25 86.1% · p75 162.6%bottom quartile

Source data

Underlying data the analysis-pipeline pulls and audits. Fetch timestamps + content hashes show when each source was last refreshed.

Company fundamentalsperiod FQ-7 · history via verified-market-data

no public URL

2026-05-05 00:41 UTC#5d1d29d2

Source: analysis-pipeline (hybrid)Generated: 2026-05-05 00:42 UTCJob: 34273d66