Market cap, ratios, CAGR and revenue: company table snapshot as of 30 Oct 2026 (the same figures on every page). Price: snapshot as of 30 Oct 2026. Not investment advice.
Where it fits
Sells discretionary, brand-led products to middle- and upper-income households. A small slice of the index.
Why it matters
Both are long-time compounders whose growth tracks urban affluence, weddings and home upgrades.
Where the value pool sits
Brand and distribution moats give high returns. Paint margins depend on crude-linked raw materials and competition; jewellery depends on gold prices and studded mix.
Key drivers
Urban discretionary spending
Wedding season and festive demand
Housing and repainting cycles
Potential bottlenecks
Gold price swings change jewellery demand and inventory value
Dealer reach in smaller towns
Raw material costs (crude derivatives, titanium dioxide)