- POSITIVE
Annual Revenue Deepa Jewellers Mar-2026 Annual Revenue is Rs 1,928 Cr which is growth of 37.7% YoY.
- POSITIVE
Annual Net Profit Deepa Jewellers Mar-2026 Annual Net Profit is Rs 105 Cr which is growth of 158.2% YoY.
Deepa Jewellers was incorporated on May 5, 2016. The company is engaged in processing, job-work, and trading of 22-karat gold and precious stone jewellery. It designs and sells a wide range of hallmarked plain and studded jewellery through an outsourced manufacturing model supported by a network of 40 karigars
| Bidding Dates |
|---|
| 01 Sep 2026 - 03 Sep 2026 |
| Subscription |
|---|
| 42.61x Oversubscribed |
| Minimum Investment | Minimum Lot | Maximum Lot | Lot Size | Number of Shares | Issue Price Band | Post Issue Promoter Holding % | Issue Size | IPO Document |
|---|---|---|---|---|---|---|---|---|
| ₹14,112 | 1 | 13 | 84 | 26.0 M | ₹168 - ₹177 | 72.98 % | ₹4,363.4 M - ₹4,597.2 M | RHP DOC |
Deepa Jewellers IPO SUBSCRIPTION STATUS
03 Sep '26Total42.61x
Retail Individual Investor18.55x
HNI (NII) Investors105.96x
Qualified Institutional Buyers37.01x
Deepa Jewellers IPO overall subscription rate was 42.61 times the total available shares
Deepa Jewellers IPO retail subscription rate was 18.55 times in the retail segment
Deepa Jewellers IPO non-institutional investor subscription rate was 105.96 times in the non-institutional investor category
Deepa Jewellers IPO Qualified Institutional Bidder subscription rate was 37.01 times the available shares for Qualified Institutional Bidder
| Day | Retail Individual Investor | HNI (NII) Investors | Qualified Institutional Buyers |
|---|---|---|---|
| Category Reservation | 35% | 15% | 50% |
03 Sep 2026 (Day 3) | 18.55x | 105.96x | 37.01x |
02 Sep 2026 (Day 2) | 4.69x | 5.1x | 0.46x |
01 Sep 2026 (Day 1) | 1.38x | 0.63x | 0.11x |
Deepa Jewellers FINANCIALS
| Period | Revenue from Operations (Rs in crore) | Net Profit (Rs in crore) | Cash Flow from Operations (Rs in crore) | Free Cash Flow (Rs in crore) | Margins |
| FY26 | 1,926.7 | 104.8 | -14.7 | -19.1 | 7.6% |
| FY25 | 1,397.0 | 40.6 | -9.9 | -10.0 | 4.0% |
| FY24 | 1,024.6 | 24.3 | 4.8 | 4.6 | 3.5% |
Deepa Jewellers IPO SUBSCRIPTION STATUS DETAILS
Deepa Jewellers had 26.0 M shares on offer
Deepa Jewellers IPO offer price was in the range ₹168 - ₹177
Deepa Jewellers IPO minimum Investment was ₹14112
Deepa Jewellers IPO issue size was ₹ 4,363.4 M - ₹ 4,597.2 M
Deepa Jewellers had a minimum lot size of 84 Shares per application
Deepa Jewellers NUMBER OF SHARES ON OFFER
Total26.0 M
Fresh Issue14.1 M
Offer for Sale11.8 M
Post Issue Promoter Holding %72.98 %
Deepa Jewellers IPO IMPORTANT DATES
| Issue Open Date | 01 Sep 2026 |
| Issue close Date | 03 Sep 2026 |
| Allotment Date | 04 Sep 2026 |
| Refund Date | 07 Sep 2026 |
| Demat Account Credit Date | 07 Sep 2026 |
| Listing Date | 08 Sep 2026 |
| Listing on Exchange(s) | NSE and BSE |
| Deepa Jewellers Allotment Status | Exchange/ Registrar |
Deepa Jewellers IPO subscription opened on 01 Sep 2026, and closed on 03 Sep 2026
IPO allotment for Deepa Jewellers was finalized on Friday, 04 Sep 2026
IPO listing for Deepa Jewellers was on NSE and BSE on Tuesday, 08 Sep 2026
Deepa Jewellers IPO LISTING GAINS
| Issue Price (adjusted) | 177.0 |
| Listing Open Price | 221.0 |
| Listing Close Price | 194.4 |
| Listing Gain% | 24.9% |
| Current Gain% | 44.6% |
Deepa Jewellers Peer
| Stock | Stock Price | Market Cap (Rs crore) | PE TTM | PEG TTM | PS TTM | ROE% | ROA% | Annual Revenue (Rs crore) | Annual Revenue Growth % | Annual Net Profit (Rs crore) | Annual Net Profit Growth % | EPS TTM | EPS TTM Growth % |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Deepa Jewellers Ltd. | 255.9 | 2459.8 | 23.5 | 0.1 | 1.3 | 44 | 29.3 | 1927.7 | 37.7 | 104.8 | 158.2 | 10.9 | 158.2 |
| Titan Company Ltd. | 4400 | 390625.9 | 67.8 | 1.2 | 4.2 | 32.3 | 8.4 | 88136 | 44.6 | 5073 | 52 | 64.9 | 55.1 |
| Kalyan Jewellers India Ltd. | 567.2 | 58572.5 | 40.8 | 0.5 | 1.5 | 21.4 | 6.5 | 35950.9 | 42.7 | 1350.4 | 88.9 | 13.9 | 79.1 |
| Lalithaa Jewellery Mart Ltd. | 363.5 | 20345.5 | 34.5 | 9.2 | 25039.8 | 48.1 | 1009.8 | 176.9 | |||||
| Thangamayil Jewellery Ltd. | 4890 | 15206.8 | 38.9 | 0.1 | 1.6 | 24.8 | 9.2 | 8513.8 | 73.2 | 351.6 | 196.2 | 125.7 | 262.5 |
| Sky Gold and Diamonds Ltd. | 967 | 14975.5 | 54.4 | 0.5 | 2.1 | 23 | 12.5 | 6331.3 | 76.8 | 275.3 | 107.5 | 17.8 | 116.1 |
Quarterly
Annual
Balance Sheet
Ratios
Cash Flow
Deepa Jewellers annual results: revenue, profit, P&L, and margins as of Mar 2026 – 11 year history
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| Indicator | Graph | CAGR 3 Yrs | Mar '26 | Mar '25 | Mar '24 | Mar '23 |
|---|---|---|---|---|---|---|
27.9% | 1,927.7 | 1,400.1 | 1,025.7 | 921.7 | ||
Operating Exp. Ann. | 26.1% | 1,780.3 | 1,341 | 988.8 | 888.1 | |
Operating Profit Ann. | 63.9% | 146.3 | 56 | 35.8 | 33.2 | |
OPM Ann. % | 28.2% | 7.59% | 4.00% | 3.49% | 3.60% | |
26.1% | 1,787.4 | 1,345.6 | 993.1 | 892.1 | ||
EBITDA Ann. | 63.7% | 147.4 | 59.1 | 36.9 | 33.6 | |
EBITDA Ann. margin % | 28% | 7.65% | 4.22% | 3.60% | 3.65% | |
Interest Ann. | 19.4% | 6.3 | 4.4 | 4 | 3.7 | |
Depr. | 32.6% | 0.7 | 0.3 | 0.3 | 0.3 | |
PBT Ann. | 67.8% | 140.3 | 54.5 | 32.7 | 29.7 | |
Tax Ann. | 67.3% | 35.6 | 13.9 | 8.3 | 7.6 | |
68% | 104.8 | 40.6 | 24.4 | 22.1 | ||
Net Profit Ann. | 68% | 104.8 | 40.6 | 24.4 | 22.1 | |
NPM Ann. % | 31.5% | 5.43% | 2.90% | 2.37% | 2.39% | |
EPS Adj. latest Ann. | 68% | 10.9 | 4.2 | 2.5 | 2.3 |
*All financials are in INR Cr and price data in INR
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Total Rev. Ann.
1Y CHG
37.7%
2Y CAGR
37.1%
3Y CAGR
27.9%
Net Profit Ann.
1Y CHG
158.1%
2Y CAGR
107.2%
3Y CAGR
68%
Operating Exp. Ann.
1Y CHG
32.8%
2Y CAGR
34.2%
3Y CAGR
26.1%
Deepa Jewellers IPO Reports
Deepa Jewellers INFORMATION ON IPO ISSUE
About Deepa Jewellers
Deepa Jewellers was incorporated on May 5, 2016. The company is engaged in processing, job-work, and trading of 22-karat gold and precious stone jewellery. It designs and sells a wide range of hallmarked plain and studded jewellery through an outsourced manufacturing model supported by a network of 40 karigars
Object of the Issue
- Funding long-term working capital requirements towards procurement, maintenance and scaling up of inventory by the company
- General corporate purposes
Deepa Jewellers - PROMOTERS
| Name |
|---|
| Ashish Agarwal |
| Seema Agarwal |
| Dev Agarwal |
Deepa Jewellers - MANAGEMENT & LEADERSHIP
| Name | Designation |
|---|---|
| Ashish Agarwal | Chairman & Managing Director |
| Dev Agarwal | Whole-Time Director |
| Seema Agarwal | Non-Executive Non-Independent Director |
| Komal Agarwal | Independent Director |
| Grandhi Vittal | Independent Director |
| Sirisha Chintapalli | Independent Director |
Deepa Jewellers Book Running Lead Managers
Emkay Global Financial Services Limited
djl.ipo@emkayglobal.com
Valmiki Leela Capital Private Limited
deepa.ipo@valmikileela.com
Deepa Jewellers Registrar to the Offer
Bigshare Services Private Limited
ipo@bigshareonline.com
Deepa Jewellers Strengths
Diverse product portfolio
The company offers a wide range of gold jewellery across different karat specifications, catering to diverse customer preferences. Its portfolio includes traditional and contemporary designs such as waist belts, bangles, armlets, necklaces, earrings, hair ornaments, and rings
Strength
Relationship with karigars
As per the CRISIL Report, jewellery demand in India is driven by weddings, festivals, and seasonal occasions, with production heavily dependent on skilled artisans. The company has a long-standing network of 40 karigars, mainly in Telangana and Maharashtra, enabling timely production, consistent quality, and effective supply chain control
Strength
Client relationship
With a diverse product portfolio and a team of creative designers, the company has built long-standing relationships with leading jewellery retail chains and standalone stores across India. As of November 30, 2025, it serves 315 customers, comprising 43 jewellery retail chains and 272 standalone stores
Strength
Deepa Jewellers Risks
Raw material procurement risks
Timely procurement of gold bullion, its quality, availability, and price are critical to the company’s operations, and fluctuations can significantly impact performance. Factors beyond the company’s control, such as economic conditions, trade policies, competition, and import duties, may cause price volatility or shortages, adversely affecting its business and financial results
Risk
Consumer preference
Jewellery is a discretionary, high-value purchase, and any reduction in consumers’ spending power due to adverse economic conditions, inflation, interest rates, or lower disposable income may impact demand. Changes in investment preferences away from gold jewellery and fluctuations in gold prices may further adversely affect the company’s business, financial condition, and operating results
Risk
Counterparty credit risk
The company is exposed to counterparty credit risk as it offers credit periods of 25–45 days to customers, while suppliers typically provide only one day of credit. Any delay or non-receipt of customer payments could create cash flow mismatches and materially adversely affect its cash flows and financial condition
Risk
IPO FAQs
This IPO consists of an offer for sale of up to Rs 209.7 crore, of 11,848,340 shares. It also consists of a fresh issue of Rs 250.0 crore.
The promoters of the company are Ashish Agarwal, Seema Agarwal and Dev Agarwal.
The category allocation of qualified institutional buyers is 50.0%, the category allocation of non individual investors or high networth individuals is 15.0% and for retail investors it is 35.0%.
The price band of the IPO is Rs 168.0 - 177.0.
The IPO application opens on Sep 01, 2026 and closes on Sep 03, 2026.
The minimum lot size for the IPO is 84. The maximum lot size for the IPO is 1092.
For all category investors, the minimum application amount for this IPO is Rs. 14,112.0, the maximum value for this IPO is Rs 193,284.0.
This IPO will be allotted on Sep 04, 2026.
The refund will be credited to your account on Sep 07, 2026.
The allotted shares will be credited to your demat on Sep 07, 2026.
Deepa Jewellers Ltd.’s shares listed on the stock exchanges on Sep 08, 2026.