India has always considered gold a symbol of wealth and financial security. Traditionally, people invested in gold by buying physical items like jewellery. However, with the rise of modern financial products, investors can now also invest in gold stocks, allowing them to benefit from the performance of the gold market. Before making any investment, it’s important to examine the latest market trends and gold stock prices, as well as to understand the gold stock market.
In this article, we will explore some of the top gold related stocks in India for January 2025 based on their 5-year Compound Annual Growth Rate (CAGR).
| Name | Market Cap (₹ in crore) | PE Ratio | 5Y CAGR (%) | 1Y Return (%) |
| Thangamayil Jewellery Ltd | 5,598.00 | 45.42 | 63.8 | 49.16 |
| KDDL Ltd | 3,734.12 | 36.37 | 58.27 | 9.96 |
| Tribhovandas Bhimji Zaveri Ltd | 1,672.74 | 30.74 | 45.3 | 97.61 |
| Titan Company Ltd | 3,00,615.20 | 85.99 | 24.01 | -8.36 |
| Kanani Industries Ltd | 53.62 | 87.91 | 1.63 | -32.25 |
Note: The best gold stocks listed in India listed in the stock market here are sorted as per the 5-yr CAGR as of January 03, 2025.
Thangamayil Jewellery Limited operates a network of retail jewellery stores across Tamil Nadu, a region responsible for 40% of India’s total gold consumption. The company primarily sells four products: gold, silver, diamonds, and platinum, with gold being the largest contributor to its revenue.
The company reported a revenue of ₹1,178.10 crore in September 2024, compared to ₹1,220.33 crore in June 2024 and ₹3,826.78 crore for the FY 2023-24. The company posted a net loss of ₹17.44 crore in September 2024, while it had a net profit of ₹56.56 crore in June 2024 and ₹123.24 crore for FY 2023-24.
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Established in 1981, KDDL specialises in manufacturing watch components such as dials, hands, and precision engineering products under the brand Eigen. Beyond watches, KDDL has expanded its portfolio to include certified pre-owned luxury watches, luxury travel accessories, and jewellery under the Rimowa and Messika brands.
For the quarter ending September 2024, the company reported a revenue of ₹92.14 crore, marking an increase from ₹81.40 crore in the June 2024 quarter. The net profit for the September 2024 quarter stood at ₹15.09 crore, compared to ₹9.76 crore in the previous quarter.
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Founded in 2007, Tribhovandas Bhimji Zaveri Ltd specialises in retailing jewellery made from gold, diamonds, silver, platinum, and precious stones.
The company reported a revenue of ₹567.05 crore for September 2024, slightly lower than the ₹596.24 crore recorded in June 2024. For the full fiscal year 2023-24, the company achieved a total revenue of ₹2,298.94 crore. Net profit for September 2024 stood at ₹13.22 crore, compared to ₹18.47 crore in June 2024, while the net profit for FY23-24 totalled ₹54.02 crore.
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Titan is one of India’s leading lifestyle companies, known for its strong presence in watches, jewelry, and eyewear. The company stands out with its trusted brands and unique customer experiences.
In the last quarter ended in September, Titan Company Ltd reported a revenue of ₹13,215 crore and a net profit of ₹704.53 crore, compared to ₹12,053 crore and ₹770 crore, respectively, in the previous quarter.
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Kanani Industries Ltd, established in 1983, is involved in the manufacturing and export of diamond-studded jewelry. The company offers various range of diamond jewellery, including rings, necklaces, earrings, bracelets, and pendants.
In the fiscal year 2023-24, Kanani Industries Ltd reported a revenue of ₹46.82 crore. In the last quarter ending in September 2024, the company recorded a net profit of ₹0.01 crore, following a small loss of ₹0.04 crore in the previous quarter.
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Gems and Jewellery Industry Overview
India’s gems and jewellery export sector is one of the largest in the world, representing 4.3% of global jewellery consumption in 2022. The country’s exports are expected to reach US$ 100 billion by 2027. India is also the second-largest consumer of gold, with demand expected to hit 800 to 900 tonnes in 2024.
From April to June 2024, India’s gems and jewellery exports totalled US$ 6.87 billion. Cut and polished diamonds accounted for the largest share at 53.47%, followed by gold jewellery at 32.39% and silver jewellery at 3.36%. In June 2024, gold jewellery exports were valued at US$ 608.01 million, while imports for the same month were only US$ 88.61 million.
India has 10 special economic zones (SEZ) dedicated to gems and jewellery, with over 500 manufacturing units that contribute 30% of the country’s total exports. The upcoming Revised SEZ Act is expected to boost this sector even further.
In the Union Budget 2024, the government proposed reducing the basic customs duty on gold and silver to 6% and platinum to 6.4%. In the previous budget, the import duty on silver was raised to 10% to align it with the rates on gold and platinum.
Review financial performance, revenue, profits, and market share, and stay updated on company news.
Understand the regulations on mining, refining, trading, and taxes, as well as how they affect the company.
Monitor gold price fluctuations, which can impact investments due to global economic conditions and supply-demand factors.
Consider inflation, interest rates, and currency fluctuations as they influence gold prices and company profits.
Be aware of risks like market volatility, liquidity issues, and geopolitical uncertainties that may affect returns.
Thoroughly research and consult with a financial advisor to make informed, risk-managed decisions.
Investing in gold stocks in India provides a contemporary way to tap into the gold market. With options like traditional gold stocks or digital gold, you can diversify your portfolios and earn good returns. However, it’s important to do proper research and understand the risks before making any investment choices.
Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions.
Investments in the securities market are subject to market risks, read all the related documents carefully before investing.
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