Deepa Jewellers Limited

listedRefreshing

NSE · Source: SEBI

DRHP2 Sept 2026completed
RHP25 Aug 2026completed
Price band25 Aug 2026completed
Opened1 Sept 2026completed
Closed3 Sept 2026completed
Allotteddate not on filereached, date not recorded
Listed8 Sept 2026completed

Price band

₹168–₹177

Issue size

—

Fresh issue

₹250 Cr

Offer for sale

—

GMP ₹25 (14.12%)grey-market · 45 days ago

What the company does

Business model: B2B designer, processor and supplier of hallmarked gold jewellery. The Company operates in 22 karat gold jewellery processing, job-work and trading, processes customer-supplied material into finished ornaments and also trades silver ornaments, 18 and 20 karat gold jewellery and gold bullion. (p.25)
Revenue drivers: Revenue is predominantly generated from vaddanam, CNC machine cut bangles and other jewellery products. In the six months ended September 30, 2025, vaddanam represented 46.96 percent and CNC machine cut bangles represented 37.71 percent of revenue from operations. (p.28, 203)
products: Vaddanam, CNC machine cut bangles and other products including gold and studded jewellery, gents kada, vanky, dandpatti, gundlamala jewellery, kangan, earrings, mangtika, maatil, champasaralu, jada, rings, precious stones, pearls, flat diamonds, cubic zirconia, gold bullion and precious beads. As of November 30, 2025 the portfolio comprised 14 products and over 76 SKUs. (p.197, 206)
Customers & concentration: As of November 30, 2025 the Company had 315 customers comprising 43 jewellery retail chains and 272 standalone stores. Top 10 customers contributed 70.74 percent of revenue in the six months ended September 30, 2025, 63.27 percent in Fiscal 2025, 67.36 percent in Fiscal 2024 and 71.55 percent in Fiscal 2023. Customer names are not disclosed as commercially sensitive. (p.28, 218, 346)
geography: Operations are primarily in Telangana, Karnataka, Andhra Pradesh, Tamil Nadu and Kerala. Southern India contributed 98.26 percent of revenue in the six months ended September 30, 2025, 98.33 percent in Fiscal 2025, 99.55 percent in Fiscal 2024 and 99.49 percent in Fiscal 2023.

KPI	Value	Period	Pages
Revenue from operations	Rs 8,121.92 million	Six months ended September 30, 2025	118
EBITDA	Rs 676.04 million	Six months ended September 30, 2025	118
EBITDA margin	8.32 percent	Six months ended September 30, 2025	118
PAT	Rs 486.15 million	Six months ended September 30, 2025	118
ROE	30.87 percent	Six months ended September 30, 2025	118
ROCE	27.23 percent	Six months ended September 30, 2025	118
Debt to equity ratio	0.55 x	Six months ended September 30, 2025	119
Inventory holding period	16 days	Six months ended September 30, 2025	119
Debtors holding period	42 days	Six months ended September 30, 2025	119
Creditors holding period	1 day	Six months ended September 30, 2025	119
Net operating cycle	57 days	Six months ended September 30, 2025	119

What the company does

What the company does

Key performance indicators