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Gold Stocks In India

Gold stocks are always in the limelight whenever there is uncertainty in the market. Deccan Gold Mines Ltd., one of the only gold stocks listed on the Indian stock exchange is up by nearly 81% in the last one year (as of April 18, 2022). Another popular gold stock in India is Titan Company Ltd. In the last one year, this gold stock is up by a whopping 61% (as of April 18, 2022).Even the war between Russia and Ukraine seems to have no major impact on gold stocks. Kalyan Jewellers India Ltd is up by 17% between February 24 and April 13, 2022. Even Titan Company Ltd is up by nearly 3% in the same period.This kind of performance justifies why gold is one of the most powerful asset classes in the world. And rightly so. Gold is a store of value. It is inflation-proof. It is the perfect hedge against economic downturns. It is one of the most stable and reliable asset-classes in the entire world. And gold has managed to prove its might during every economic crisis you could think of. Be it the great depression of the 1917s. Or the global financial crisis of 2008. Even the recent Russia-Ukraine conflict is a perfect example of how powerful gold truly is.

In this article: 

List of Gold Stocks Top Gold Stocks in India Gold Stock #1: Deccan Gold Mines Ltd. Gold Stock #2: Rajesh Exports Ltd. Gold Stock #3: Titan Company Ltd. Gold Stock #4: Muthoot Finance Ltd. Gold Stock #5: Manappuram Finance Ltd. Gold Stock #6: Kalyan Jewellers Ltd. Gold Stock #7: Goldiam International Ltd.The Russian invasion of Ukraine began on February 24, 2022. Just a day prior, on February 23, 2022, gold was trading at $1,907.76 per troy ounce. As soon as the news of the war broke out, all hell broke loose. Yes, gold moved from $ 1,907.76 to $ 2,050.17 on March 08, 2022. This was a rally of 7.46% in a span of nine days.So, whenever the world is in chaos, investors flock to gold. And not just individual investors. Even the biggest banks in the world maintain gold reserves in the form of gold bars, coins, etc. But this is not the only way to get exposure to the shiny metal. You can also invest in gold stocks.What are gold stocks? Well, gold stocks are stocks of companies which are involved in the mining or distribution of gold. But that’s not all. Companies like Titan Company Ltd. that uses gold as a raw material is also considered as gold stocks. Even companies that provide loan against gold can be categorised as gold stocks. The two examples of such gold stocks are Muthoot Finance Ltd and Manappuram Finance Ltd.Now ideally you would want to invest in gold mining companies, correct? But unfortunately, mining gold is not a lucrative proposition in India. One of the reasons for this is our geographical placement. The next problem is the high investment cost of mining gold. And lastly, the government has set heavy restrictions on opening and operating gold mines. This is why there are very few gold mining companies in India. In fact, India is one of the biggest importers of gold. This is why investing in companies, which use gold, as a raw material is a better option if you want to create wealth without actually owning physical gold.So, which gold stocks should you invest in 2022? Which are the top gold stocks in India in 2022? Don’t worry. Here is a list of gold stocks in India that can help you enjoy the gains of the shiny metal without owning physical gold.

List of Gold Stocks in India

Name	Market Capitalization (Rs Crore)	Price to Earning	Return on Equity	Debt to Equity
Titan Company	2,21,591	99.48	13.57	0.81
Muthoot Finance Ltd	52,817	13.20	27.80	2.98
Rajesh Exports	19,081	16.45	7.77	0.06
Manappuram Finance Ltd.	9,742	6.34	26.50	3.22
Vaibhav Global	8,019	30.09	31.69	0.14
Kalyan Jewellers	6,613	29.35	-0.25	1.49
Goldiam Intl.	1,662	18.07	11.65	0.11
Renaiss. Global	1,574	15.78	5.51	0.78
Thangamayil Jew.	1,535	34.66	33.42	0.97
Asian Star Co.	1,289	11.72	4.38	0.47
PC Jeweller	1,082	-	1.46	0.78
D. P. Abhushan	888	22.6	32.87	1.25
T B Z	477	18.39	8.6	0.94
Radhika Jeweltec	402	19.68	13.54	0.15
Starlineps Enter	378	2364.2	0.68	0
Atlas Jewellery	312	203.62	-3.04	0
Kanani Industries	277	294.69	-0.66	0.35
Penta Gold	274	3419.88	0.21	3.22
Ashapuri Gold	206	-	4.11	0
Uday Jewellery	206	45.39	11.62	0.26
S.M. Gold	113	1132.21	1.6	0.64
Moksh Ornaments	105	21.31	11.13	0.18
Sky Gold	99	20.66	9.65	1.4
Goenka Diamond	97	-	-3.85	0.02
Narbada Gems	88	25.35	8.56	0.43
Darshan Orna	75	95.38	6.29	0.04
Golkunda Diamond	70	9.72	9.15	1.23
Sagar Diamonds	58	6.5	15.68	0.08
Swarnsarita Jewel	48	5.95	5.87	1.17
Silgo Retail	34	13.27	10.06	0.63
Patdiam Jeweller	32	11.65	7.37	0.22
Kenvi Jewels	30	107.42	2.22	0.09
Laxmi Goldorna	30	247	0.44	0.46
Orosil Smiths	26		-12.75	0.06
Veeram Securit.	22	7.44	22.64	0
Lypsa Gems	19		-22.85	0.2
Zodiac-JRD MKJ	18	100.28	-1.51	0
Bhakti Gems	18		1.74	0.12
Kkalpana Plastic	17		1.49	0
Midas Infra Tra.	16		-9.13	0.91
Gautam Gems	13		2.48	0.35
Shukra Jewellery	11	7.76	0.46	0.15
Sover. Diamonds	10	7.55	-10.79	0.74
U. H. Zaveri	10	70.36	1.07	0
Sheetal Diamonds	9		10.96	0.03
Mini Diamonds(I)	8	11.2	2.51	0.73
Shukra Bullions	7		0	1.73
Deep Diamond	5	75.9	-0.13	0
Neogem India	4		-8.65	2.73
Sunraj Diamond	4		-198.52	1035.5
Anshuni Commerc.	0	2.5	1.95	0

Top Gold Stocks in India in 2022

Gold Stock #1: Deccan Gold Mines Ltd.

Deccan Gold Mines Ltd. is the only listed gold mining stock in India. It was established in the year 2003. Over the last 18 years, it has successfully located gold prospects in various areas of Karnataka like Mangalagatti, Hirenagnur, and Hutti North etc. To diversify its portfolio, Deccan Gold Mines Ltd. also started mining gold in Tanzania.Key Financials of Deccan Gold Mines Ltd. as on March 13, 2022

Market Cap (Cr): 325	Face Value (₹): 1	EPS (₹): -0.29
Book Value (₹): 4.64	ROCE (%): -6.93	Debt to Equity: 0.00
Stock P/E: 0	ROE (%): -6.93	Dividend Yield (%): 0
Revenue (Cr): 0.04	Earnings (Cr): -2.67	Cash (Cr): 0.08
Total Debt (Cr): 0	Promoter’s Holdings (%): 26.43

Gold Stock #2: Rajesh Exports Ltd.

Rajesh Exports Ltd. is another gold stock that is involved in the manufacturing and distribution of gold and gold products. It refines over 35% of the world’s total gold. It is the largest gold refiner in the world. It refined over 900 tons of gold in the FY 2020. It also produces and supplies VALCAMBI brand bullions, which is used by some of the biggest banks in the world. There is a jump of 32% in the company’s revenue from Rs 1,95,600 crore in March 2020 to Rs 2,58,306 crore in March 2021.Key Financials of Rajesh Exports Ltd. as on March 13, 2022

Market Cap (Cr): 18938	Face Value (₹): 1	EPS (₹): 39.39
Book Value (₹): 402	ROCE (%): 8.62	Debt to Equity: 0.06
Stock P/E: 16.3	ROE (%): 7.77	Dividend Yield (%): 0.16
Revenue (Cr): 221,844	Earnings (Cr): 1,275	Cash (Cr): 1,824
Total Debt (Cr): 742	Promoter’s Holdings (%): 54.05

Gold Stock #3: Titan Company Ltd.

The next gold stock in India is Titan Company Ltd. This TATA group company was launched in 1984 as a joint venture between TATA group and the Tamil Nadu Industrial Development Corporation (TIDCO). It is the largest jewellery retailer in India. You must have used Titan watches and jewellery from Titan brands like Mia, Tanishq, Zoya and Caratlane. It also has other products like the eyewear division under the brand fasttrack, and Perfumer under the brand SKINN.Did you know that Titan Company Ltd is one of the favourite stocks of Big Bull Mr Rakesh Jhunjhunwala? Yes, find out where else the big bull is investing; Check out the detailed portfolio of Rakesh Jhunjhunwala here.  Key Financials of Titan Company Ltd. as on March 13, 2022

Market Cap (Cr): 2,17,574	Face Value (₹): 1	EPS (₹): 25.10
Book Value (₹): 87.6	ROCE (%): 13	Debt to Equity: 0.81
Stock P/E: 98.1	ROE (%): 13.6	Dividend Yield (%): 0.16
Revenue (Cr): 28,497	Earnings (Cr): 3,364	Cash (Cr): 708
Total Debt (Cr): 6,335	Promoter’s Holdings (%): 52.9

Gold Stock #4: Muthoot Finance Ltd.

Muthoot Finance Ltd. is the largest and most trusted gold financing company in India. The company holds nearly 171 tonnes of gold as security. Its total loans under management is a whopping Rs 5,26,223 crore. Its key subsidiaries include Muthoot Housing Finance, Muthoot Insurance Brokers etc.Muthoot Finance Ltd. provides various services like gold loans, foreign inward money transfer services, domestic money transfers, microfinance, non-convertible debentures, insurance, personal, home, vehicle loans etc. This gold stock has increased its revenue by 21% between March 2020 and 2021. Its net profit  jumped by a whopping 24.98% to Rs 3,722 crore in March 2021. The company maintains a healthy dividend payout ratio of 22%.Key Financials of Muthoot Finance Ltd. as on March 19, 2022

Market Cap (Cr): 52,785	Face Value (₹): 10	EPS (₹): 100.67
Book Value (₹): 443	ROCE (%): 15.6	Debt to Equity: 2.98
Stock P/E: 13.2	ROE (%): 27.8	Dividend Yield (%): 1.53
Revenue (Cr): 12,268	Earnings (Cr): 9,740	Cash (Cr): 9,356
Total Debt (Cr): 51,843	Promoter’s Holdings (%): 73.4

Gold Stock #5: Manappuram Finance Ltd.

Manappuram Finance Ltd. is a non-banking finance company (NBFC) which provides loans or finance against gold. Their asset under management has grown by 7.9% (y-o-y) to Rs 272 billion in FY 2021-22. Its total loan against gold book has shown a growth of 12.4% to Rs 191 billion. The company’s total sales jumped from Rs 5,465 crore in March 2020 to Rs 6,331 crore in March 2021. Its net profit also skyrocketed by 17.43% to Rs 1,724 crore in FY 2021.Key Financials of Manappuram Finance Ltd. as on March 19, 2022

Market Cap (Cr): Rs 9,742	Face Value (₹): 2	EPS (₹): 18.14
Book Value (₹): 94.1	ROCE (%): 15.3	Debt to Equity: 3.29
Stock P/E: 6.34	ROE (%): 26.5	Dividend Yield (%): 1.9
Revenue (Cr): 4,824	Earnings (Cr): 0	Cash (Cr): 4,578
Total Debt (Cr): 25,677	Promoter’s Holdings (%): 35

Gold Stock #6: Kalyan Jewellers Ltd.

Kalyan Jewellers Ltd. is one of the most popular jewellery brands in India. I am sure you must have seen Kalyan Jewellers’ ad on TV starring Amitabh Bacchan and Katrina Kaif. This gold company manufactures and sells a variety of gold, diamond (ruby, sapphire etc) across India. In FY 2020, it clocked revenue of Rs 10,101 making it the largest jewellery retailer.Kalyan Jewellers Ltd. operates a variety of brands like Nimah for gold and precious stone studded jewellery, Tejasvi, Rang, Anokhi for antique wear etc.Key Financials of Kalyan Jewellers Ltd. as on March 13, 2022

Market Cap (Cr): 6,757	Face Value (₹): 10	EPS (₹): 2.2
Book Value (₹): 27.9	ROCE (%): 7.41	Debt to Equity: 2.32
Stock P/E: 29.9	ROE (%): -0.25	Dividend Yield (%): 0
Revenue (Cr): 11,017	Earnings (Cr): 824	Cash (Cr): 905
Total Debt (Cr): 4,273	Promoter’s Holdings (%): 0

Gold Stock #7: Goldiam International Ltd.

Goldiam International Ltd. manufactures and exports gold and diamonds jewellery to global retailers. Its total revenue jumped 11.23% from Rs 365 crore in March 2020 to Rs 406 crore in March 2021. The company has registered a compounded profit growth of 35% in the last three years.Key Financials of Goldiam International Ltd. as on March 13, 2022

Market Cap (Cr): 1,656	Face Value (₹): 2	EPS (₹): 8.38
Book Value (₹): 46.70	ROCE (%):18.10	Debt to Equity: 0.11
Stock P/E: 18	ROE (%): 11.60	Dividend Yield (%): 1.06

India’s gold imports jumped 148% between 2020 and 2021. In 2020, our total gold imports were 430.11 tonnes. This skyrocketed to 1,067.72 tonnes in 2021. This demand for the shiny yellow metal is further expected to increase. As long as there is chaos and uncertainty in the world, the demand for the safest asset class, gold, will continue to rise. If you too want to partake in this gold rush, then you can either invest in physical gold, gold ETFs or buy gold stocks from the list above.

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