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Deepa Jewellers Ltd (DEEPA)

Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 544903 NSE: DEEPA Diamond & Jewellery | | Deepa Jewellers Share Price

₹201.40 7.10 (3.65%)

As on 09-Sep'26 16:59

Deepa Jewellers Ltd (DEEPA)

Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 544903 NSE: DEEPA Diamond & Jewellery | | Deepa Jewellers Share Price

₹201.40 7.10 (3.65%)

As on 09-Sep'26 16:59

Key Metrics
Valuation Multiples
Market Cap
₹1,868 Cr.
Current Price
₹201.4
52-Week Low / High
₹193 / 222
TTM EPS
₹10.9
TTM Sales
₹1,927 Cr.
Book Value per Share
₹25.1
P/E Ratio
17.82
In line with its 5-year historical median
Industry PE
53.8
Price to Book (P/B)
7.75
In line with its 5-year historical median
Price to Sales (P/S)
0.97
In line with its 5-year historical median
EV/EBITDA
13.43
In line with its 5-year historical median
Dividend Yield
0%
Profitability Efficiency
Return on Equity (ROE)
56.45%
Outperforms industry median
Return on Capital Employed (ROCE)
52.08%
Outperforms industry median
Return on Assets (ROA)
36.49%
Operating Profit Margin
7.6%
Net Profit Margin
5.44%
Gross Profit Margin
7.3%
Growth Momentum
1-yr vs 3-yr growth
Sales Growth (1 Year)
Improving versus 3-year growth rate
37.91%
Operating Profit Growth (1 Year)
Improving versus 3-year growth rate
161.27%
Net Profit Growth (1 Year)
Improving versus 3-year growth rate
158.23%
Asset Quality
Promoter Holding
%
Pledged shares (%) of Promoter's holding (%)
%
Reserves
₹222 Cr.
Equity
₹19.2 Cr.
Face Value
₹2
All Time Low / High
- / -

Deepa Jewellers stock performance

Key Ratios
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Valuation

Overvalued

Price Trend

Weak
Q.1 Is Deepa Jewellers Ltd a good quality company?
Deepa Jewellers Ltd is a weak quality company, based on a inconsistent multi-year financial track record.

This assessment is based on company’s performance on Revenue growth, ROCE, Equity and Assets, key margin ratios, cash conversion cycle, and debt to cash flow from operations and how it compares with its long term averages.

We have analysed the performance of the company on the following:

  • How has it performed on generating Profits?

    By checking its Revenue growth, Gross, Operating and Net Margins compared to its last 5-year median.

  • How efficiently has it utilized Capital?

    By checking its ROCE, ROA, ROE and its Cash Conversion Cycle.

  • How is it managing its Debt?

    By checking its Debt to Equity and Cash Flow from Operations.

How does Deepa Jewellers Ltd performance compare with that of its Peers?
Q.1 Revenue growth of Deepa Jewellers Ltd vs industry peers?
Deepa Jewellers Ltd revenue CAGR is 27.88%, compared to the industry median CAGR of 20.06%, indicating faster growth and gaining its market share.
Q.1 Promoter shareholding and pledge status of Deepa Jewellers Ltd?
Promoters hold % of the Deepa Jewellers Ltd, with % of their stake pledged, indicating no pledge risk.
Q.1 Stock return of Deepa Jewellers Ltd over the last decade?
Over the last - year(s), the stock has delivered a CAGR of N/A% based on the current price.

10 Year X-Ray :

Analysis of Financial Track Record (Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end)

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end.

Financial track record gives insight into the company's performance on key parameters over the past ten years. MoneyWorks4me’s proprietary colour codes make it easy for retail investors to gauge the company’s past performance.
Deepa Jewellers Ltd has not performed well majority of the past ten years indicating its past ten year financial track record is not good

Value Creation

Mar'23Mar'24Mar'25Mar'26TTM
ROCE % 21.9%22.8%30.6%52.1%-
Value Creation
Index
0.60.61.22.7-

Growth Parameters

Sales 9211,0251,3971,9271,927
Sales YoY Gr.-11.2%36.4%37.9%-
Adj EPS 2.734.712.710.9
YoY Gr.-10.4%58.3%170%-
BVPS (₹) 8.311.316.22925.1
Adj Net
Profit
2224.338.5104105
Cash Flow from Ops. -6.34.9-9.9-14.7-
Debt/CF from Ops. -13.216.1-8.2-7.5-

CAGR

9 Years 5 Years 3 Years 1 Years
Sales NANA27.9%37.9%
Adj EPS NANA67.7%170%
BVPSNANA51.7%78.8%
Share Price - - - -

Key Financial Parameters

Mar'23Mar'24Mar'25Mar'26TTM
Return on
Equity %
32.330.334.156.140.3
Op. Profit
Mgn %
3.63.547.6NAN
Net Profit
Mgn %
2.42.42.85.45.4
Debt to
Equity
1.20.80.60.5-
Working Cap
Days
05350530
Cash Conv.
Cycle
05349520

Valuation of Deepa Jewellers - Standalone

YTD 1Y 3Y 5Y 10Y Max
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YTD 1Y 3Y 5Y 10Y Max
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YTD 1Y 3Y 5Y 10Y Max
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YTD 1Y 3Y 5Y 10Y Max
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Analyst's Notes

data not found
No data found!

Management X-Ray

Shareholding Pattern

No Data To Display

Promoter's Holding & Share Pledging

Financials

PARTICULARSMar'23Mar'24Mar'25Mar'26
Sales9211,0251,3971,927
Operating Expenses + 8889891,3411,780
Manufacturing Costs0000
Material Costs8849851,3361,773
Employee Cost 1113
Other Costs 2345
Operating Profit 333656146
Operating Profit Margin (%) 3.6%3.5%4.0%7.6%
Other Income + 0131
Exceptional Items 0000
Interest 4446
Depreciation 0001
Profit Before Tax 303354140
Tax 881436
Profit After Tax 222441105
PAT Margin (%) 2.4%2.4%2.9%5.4%
Adjusted EPS (₹)2.73.05.012.8
Dividend Payout Ratio (%)0%0%0%0%
PARTICULARSMar'23Mar'24Mar'25Mar'26

Equity and Liabilities

Shareholders Fund + 6893133238
Share Capital 44416
Reserves 6488129222
Debt +837881111
Long Term Debt42413844
Short Term Debt41374367
Minority Interest0000
Trade Payables0010
Others Liabilities 1438
Total Liabilities 153174217357

Fixed Assets

Net Fixed Assets +1118
Gross Block22210
Accumulated Depreciation1112
CWIP 0002
Investments 0000
Inventories45728387
Trade Receivables9088132252
Cash Equivalents 151100
Others Assets 1227
Total Assets 153174217357
PARTICULARSMar'23Mar'24Mar'25Mar'26
Cash Flow From Operating Activity + -65-10-15
PBT 303354140
Adjustment 4327
Changes in Working Capital -31-22-53-124
Tax Paid -8-9-13-38
Cash Flow From Investing Activity + -16610-4
Capex -1-0-0-4
Net Investments 0000
Others -156100
Cash Flow From Financing Activity + 22-9-219
Net Proceeds from Shares 0000
Net Proceeds from Borrowing 2-1-35
Interest Paid -4-4-4-6
Dividend Paid 0000
Others 24-4620
Net Cash Flow 01-10
PARTICULARSMar'23Mar'24Mar'25Mar'26
Ratios
ROE (%)32.3230.335.9556.45
ROCE (%)21.9122.7630.652.08
Asset Turnover Ratio6.046.277.136.71
PAT to CFO Conversion(x)-0.270.21-0.24-0.14
Working Capital Days
Receivable Days35.8031.9028.8036.40
Inventory Days182120.3016.10
Payable Days000.100.10

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Announcements

Deepa Jewellers Ltd FAQs

The current trading price of Deepa Jewellers on 09-Sep-2026 16:59 is ₹201.4.

Market capitalization or market cap is determined by multiplying the current market price of a company's shares with the total number of shares outstanding. As of 08-Sep-2026 the market cap of Deepa Jewellers stood at ₹1,867.7 Cr

The latest P/E ratio of Deepa Jewellers as of 08-Sep-2026 is 17.82.

The latest P/B ratio of Deepa Jewellers as of 08-Sep-2026 is 7.75.

The 52-week high of Deepa Jewellers is ₹222.1 and the 52-week low is ₹193.1.

The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of Deepa Jewellers is ₹1,927 ( Cr.) .

Past 10 year’s financial track record analysis by Moneyworks4me indicates that Deepa Jewellers Ltd is a below average quality company.

The key valuation ratios of Deepa Jewellers Ltd's currently when compared to its past seem to suggest it is in the Overvalued zone.

The Price Trend analysis by MoneyWorks4Me indicates it is Weak which suggest that the price of Deepa Jewellers Ltd is likely to Fall in the short term. However, please check the rating on Quality and Valuation before investing.

About Deepa Jewellers Ltd

Deepa Jewellers was originally incorporated as ‘Deepa Jewellers Private Limited’ a private limited company under the Companies Act, 2013 pursuant to a certificate of incorporation dated May 5, 2016, issued by the Registrar of Companies, Central Registration Centre.

Deepa Jewellers is an organized business-to-business (B2B) company, engaged in designing, getting its jewellery manufactured, and supplying gold jewellery to other businesses such as retail chains and standalone stores, rather than selling directly to end customers. It designs its jewellery through a team of in-house designers who develop new products tailored to customer requirements, prevailing market trends and regional preferences enabling it to offer a diverse and customized product portfolio. It processes its gold jewellery through an outsourced manufacturing model, supported by a network of karigars, who undertake its manufacturing activities. 

Under this model, it supplies raw materials including gold, alloys, and precious stones to the karigars, who manufacture jewellery in accordance with its designs and specifications and return the finished ornaments i.e ready to sell jewellery ornaments, to it in consideration for making charges. This approach provides operational flexibility and scalability to meet business demands without requiring significant capital investment. Further, the finished gold jewellery supplied by the company, is hallmarked, signifying that it has been certified for purity in accordance with applicable regulatory standards, thereby providing assurance as to the quality and authenticity of the gold used. The company is engaged in the business of processing and supplying 22 karat gold jewellery, job-work services and trading of jewellery and related products. It designs, processes and supplies a wide range of hallmarked plain gold and precious stone studded jewellery.

Business area of the company

Deepa Jewellers is principally engaged in the organized business-to-business designing, processing of, and supplying hallmarked gold jewellery. The company is engaged in the business of processing 22 karat gold jewellery, job-work services and in the trading of jewellery and related products. The company is one of the key processors and suppliers of Vaddanam and CNC machine-cut bangles. 

Products of the company

  • Vaddanam (waist belts)
  • CNC machine cut bangles
  • Gents kada
  • Vanky (armlet)
  • Dandpatti (bajuband)
  • Gundlamala haaram
  • Gundlamala necklace
  • Kangan
  • Earring
  • Mangtika (forehead pendant)
  • Maatil (ear chain)
  • Champasaralu (ear to hair chain)
  • Jada (braid ornament)
  • Ring
  • Bracelet

History and milestones

  • 2016: Incorporation of the company.
  • 2020: Diversified product portfolio by initiating supply of CNC machine-cut bangles and kadas for men.
  • 2022: Crossed annual turnover of Rs 5,000.00 million
  • 2024: Crossed annual turnover of Rs 10,000.00 million
  • 2025: Ordered machinery including real wax 3-D printer, vacuum pressure casting machine and induction melting machine for setting up first in-house manufacturing facility.
  • 2025: The company has expanded its geographical market presence by setting up a branch office in Vijayawada, Andhra Pradesh.

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