Deepa Jewellers Q2 FY27 Share Price & Earnings Call Analysis
- Market cap
- ₹1,969 Cr
- P/E
- 17.18
- ROE
- 56.45%
- PEG
- 0.25
- Price to sales
- 1.02
- Debt to equity
- 0.12
- 52W high / low
- ₹277 / ₹165
- EBITDA margin
- 7.59%
- Net profit margin
- 5.44%
- Promoter holding
- 72.98%
- Sales (last year)
- ₹1,927 Cr
Incorporated in 2016, Deepa Jewellers Ltd. is engaged in the retail and wholesale trading of gold and diamond jewellery, offering a wide range of traditional and contemporary designs.[1]
Guidance scorecard · Q2 FY27 call
What Deepa Jewellers's management guided
and where it ranks in Consumer Durables
Consumer Durables
RevenueQ2 FY27 call
40%+- Expecting a 40-45% CAGR growth in revenue for FY27 to FY29, up from 30% growth in 1H FY27.
- Manufacturing facility ramp-up: Expect processing up to 50% of volume in-house by Q4 FY27, improving margins and capacity.
- Job work volumes growing significantly (51% YoY in 1H FY27), supporting higher-margin sales growth.
- Overall, the company aims for sustained growth through execution, new client penetration, product expansion, and enhanced manufacturing capabilities.
MarginsQ2 FY27 call
Up 0–2%See what Deepa Jewellers said on margins — free account, 30 seconds.
CapexQ2 FY27 call
Planned- Deepa Jewellers has recently commissioned a new manufacturing facility (started operations in Q1 FY27).
- Current manufacturing capacity is about 1.5 tonnes annually on a single shift, expandable to 2.5 tonnes with double shift.
- The company plans a hybrid manufacturing model with an ideal 65% in-house and 35% outsourced production mix.
- The new facility's ramp-up is expected to increase in-house manufacturing from 21% in Q2 to 40% in Q3 and 50% in Q4 of FY27.
- Investments in expanding manufacturing facilities are expected to improve margins.
2 more points from Deepa Jewellers's call on capex
Create a free account to keep reading this call
FundraisingQ2 FY27 call
PlannedSee what Deepa Jewellers said on fundraising — free account, 30 seconds.
Order bookQ2 FY27 call
- Customers place orders either on invoice basis (using company gold) or job work basis (using customer gold), with flexibility and similar conversion margins in both models.
- Demand is driven by customers' availability of cash or old gold, influencing their choice of purchasing model.
- Growth is expected from new geographical expansion (e.g., sales offices in Chennai and Bangalore), SKU portfolio expansion (particularly studded jewellery), and increasing orders from existing key clients expanding their store counts.
2 more points from Deepa Jewellers's call on the order book
Create a free account to keep reading this call
Ranges are what management guided for revenue growth and margins on the latest earnings call. Not investment advice, and not a forecast of returns.
Potential multibaggers · Q2 FY27
Potential multibaggers in Consumer Durables
on management's own guidance
- Strong growth2
- Strong growth1
- 3
Portfolio builder
Build your portfolio
from the top-ranked stocks
- 1. Pick 3–15 stocks
- 2. Choose large, mid or small cap and your sectors
- 3. Get a portfolio built from the rankings
Ranks describe management commentary on revenue and margin from the latest earnings call. Not investment advice.
Peers
Consumer Durables companies ranked on guidance
| # | Company | Revenue guided | Margin guided | Market cap | P/E |
|---|---|---|---|---|---|
| 1 | 40%+ | Up 2%+ | ₹151 Cr | 13.8 | |
| 2 | 40%+ | Up 0–2% | ₹2,267 Cr | 12.2 | |
| 3 | Deepa JewellersThis stock | 40%+ | Up 0–2% | ₹1,934 Cr | 16.9 |
| 4 | 40%+ | Flat | ₹2,338 Cr | 39.6 | |
| 5 | 40%+ | Flat | ₹1,975 Cr | 20.8 | |
| 6 | 40%+ | Flat | ₹528 Cr | 16.7 |
Sign up free to see every company in the sector ranking and track Deepa Jewellers.
Pro shows every company guiding 40%+ revenue growth →Full Consumer Durables rankingFinancials of Deepa Jewellers
Quarterly Results, Profit & Loss, Balance Sheet, Cash Flows, and Ratios are shown below as separate sections.
Shareholder Pattern
Deepa Jewellers
Shareholding breakup across reporting periods.
| Sep 2026 | |
|---|---|
| Promoters + | 72.98% |
| FIIs + | 2.64% |
| DIIs + | 6.64% |
| Public + | 17.74% |
| No. of Shareholders | 40,909 |
Financials of Deepa Jewellers
Quarterly Results
Quarter-by-quarter operating performance
| Jun 2025 | Sep 2025 | Mar 2026 | Jun 2026 | Sep 2026 | |
|---|---|---|---|---|---|
| Sales + | 310 | 502 | 541 | 431 | 626 |
| Expenses + | 281 | 463 | 502 | 392 | 580 |
| Operating Profit | 29 | 39 | 39 | 39 | 45 |
| OPM % | 9% | 8% | 7% | 9% | 7% |
| Other Income + | 0 | 0 | 1 | 0 | 0 |
| Interest | 0 | 2 | 2 | 2 | 2 |
| Depreciation | 0 | 0 | 0 | 0 | 1 |
| Profit before tax | 28 | 37 | 37 | 36 | 43 |
| Tax % | 26% | 25% | 25% | 25% | 14% |
| Net Profit + | 21 | 27 | 28 | 27 | 37 |
| EPS in Rs | 2.57 | 3.34 | 3.41 | 3.27 | 3.88 |
Financials of Deepa Jewellers
Profit & Loss
Annual income statement trend
| Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|
| Sales + | 638 | 921 | 1,025 | 1,397 | 1,927 |
| Expenses + | 612 | 888 | 989 | 1,341 | 1,780 |
| Operating Profit | 25 | 33 | 36 | 56 | 146 |
| OPM % | 4.0% | 3.6% | 3.5% | 4.0% | 8% |
| Other Income + | 0 | 0 | 1 | 3 | 1 |
| Interest | 3 | 4 | 4 | 4 | 6 |
| Depreciation | 0 | 0 | 0 | 0 | 1 |
| Profit before tax | 22 | 30 | 33 | 54 | 140 |
| Tax % | 25% | 25% | 25% | 26% | 25% |
| Net Profit + | 16 | 22 | 24 | 41 | 105 |
| EPS in Rs | 2.01 | 2.69 | 2.97 | 4.95 | 12.78 |
| Dividend Payout % | 0% | 0% | 0% | 0% | 0% |
Financials of Deepa Jewellers
Balance Sheet
Capital structure and asset base
| Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | Sep 2026 | |
|---|---|---|---|---|---|---|
| Equity Capital | 4 | 4 | 4 | 4 | 16 | 19 |
| Reserves | 42 | 64 | 88 | 129 | 222 | 513 |
| Borrowings + | 51 | 83 | 78 | 81 | 117 | 63 |
| Other Liabilities + | 8 | 1 | 4 | 4 | 2 | 11 |
| Total Liabilities | 105 | 153 | 175 | 218 | 357 | 606 |
| Fixed Assets + | 0 | 1 | 1 | 1 | 8 | 11 |
| CWIP | 0 | 0 | 0 | 0 | 2 | 0 |
| Investments | 0 | 0 | 0 | 0 | 0 | 2 |
| Other Assets + | 105 | 152 | 174 | 217 | 347 | 593 |
| Total Assets | 105 | 153 | 175 | 218 | 357 | 606 |
Financials of Deepa Jewellers
Cash Flows
Operating, investing and financing cash movement
| Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|
| Cash from Operating Activity + | 8 | -6 | 5 | -10 | -15 |
| Cash from Investing Activity + | -0 | -16 | 6 | 10 | -4 |
| Cash from Financing Activity + | -8 | 22 | -9 | -2 | 19 |
| Net Cash Flow | -0 | 0 | 1 | -1 | 0 |
| Free Cash Flow | 8 | -7 | 5 | -10 | -19 |
| CFO/EBITDA Share of operating profit converting into cash: CFO (before tax) / Operating Profit | 52% | 6% | 38% | 5% | 16% |
Financials of Deepa Jewellers
Ratios
Working capital efficiency and return ratios
| Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|
| Debtor Days | 26 | 36 | 32 | 34 | 48 |
| Inventory Days | 36 | 19 | 27 | 23 | 18 |
| Days Payable | 4 | 0 | 0 | 0 | 0 |
| Cash Conversion Cycle | 58 | 54 | 58 | 57 | 66 |
| Working Capital Days | 28 | 38 | 43 | 45 | 52 |
| ROCE % | 27% | 23% | 31% | 52% |
Continue your research
What Deepa Jewellers's management said in earlier quarters
Others in Consumer Durables this season
- RBZ Jewellers Lt (Q2 FY27)
Q2 FY27 Operational Revenue: INR 2,247 Mn, up 54.9% YoY (Q2 FY26: INR 1,451 Mn) (Page 32, 28) . Key investor presentation takeaways from RBZ Jewellers Ltd's Q2
- Global Surfaces (Q2 FY27)
Q2-FY27 revenue from operations was INR 599 Mn, a 10.7% increase YoY from INR 541 Mn in Q2-FY26 (Page 21). Key investor presentation takeaways from Global Surfa
- Kabra Jewels (Q2 FY27)
356 crore, up 14% YoY . Key results statement takeaways from Kabra Jewels Ltd's Q2 FY27 results statement — and how it ranks against sector peers.
- BPL (Q2 FY27)
23% increase (2,461.42 vs. Key results statement takeaways from BPL Ltd's Q2 FY27 results statement — and how it ranks against sector peers.