Companies›Consumer Discretionary›Consumer Durables›Consumer Durables

Darshan Orna Limited

Consumer Durables › Consumer Durables
₹1.98
at close · 28 Oct 2026
▼ 0.06 (-2.94%)

Latest filings

Next results: Mon, 2 Nov · Financial Results
  1. Board to approve September quarter and half-year results · Results
  2. Appointment of new Company Secretary and Compliance Officer · Management Changes
  3. Appointment of Company Secretary and Compliance Officer · Management Changes
All filings ↓
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Snapshot

What the business is, and whether it's a good one at a fair price.

AI · written from filings

Sells gold jewellery and ornaments from Ahmedabad, Gujarat, with revenue heavily geared to gold prices. Quarterly revenue from operations jumped to ₹2,507.03 lakhs in Q3 FY26 from ₹239.80 lakhs in Q3 FY25, and nine-month FY26 revenue reached ₹4,616.58 lakhs versus ₹1,328.33 lakhs a year earlier, with the surge largely attributed to the steep rise in gold prices. For the full FY26, revenue stood at ₹71.49 crore with net profit of ₹0.65 crore and total assets of ₹40.62 crore. Raw materials — primarily gold — make up 95.2% of revenue, leaving employee and other operating costs at 0.2% and 0.8% respectively, and EBITDA margin at 1.33%. Trade receivables rose from ₹257.30 lakhs to ₹1,396.89 lakhs over FY26, and operating cash flow was negative ₹1,433.68 lakhs. The company raised ₹1,500.88 lakhs through a 1:1 rights issue at ₹3 per share in November 2025, doubling its equity share capital to 10,00,58,670 shares.

Operating scale
FY26 revenue
₹71.49 croreFY26
Q3 FY26 revenue from operations
₹2,507.03 lakhsQ3 FY26
Q3 FY25 revenue from operations
₹239.80 lakhsQ3 FY25
Raw materials share of revenue
95.2%FY26
Trade receivables
₹1,396.89 lakhsFY26
Rights issue size
₹1,500.88 lakhs (5,00,29,335 shares at ₹3)Nov 2025
Who pays it
Retail buyers of gold jewellery
Biggest cost
Gold and other raw materials, at 95.2% of revenue
Kind of business
Thin-margin, gold-price-sensitive jewellery trader with negligible fixed costs
Where it sits
Small BSE-listed jewellery company that does not qualify as a 'Large Corporate' under SEBI criteria; total equity capital doubled to 10,00,58,670 shares after a Nov 2025 rights issue
Market Cap
₹20 Cr
P / E (TTM)
18.0×
EV / EBITDA
20.9×
Div Yield
—
Growth
64.0%▲
Revenue 5y CAGR
PAT -18.8% · EBITDA -14.2%
Quality
3.1%·
ROCE (5y median)
ROE 2.4% (5y median) · margin 1.3%
Leverage
0.03·
Debt / Equity · low
Net debt ₹0.01 Cr
Revenue FY21→FY26
11.9×▲
Margin −29.6 pts
₹6 Cr → ₹71 Cr
Cash conversion
-5.01×▼
Operating cash ÷ profit · 5 yrs
₹-23 Cr on ₹5 Cr
Moves on a normal day
1.00%·
Median daily move
Last 267 sessions · the yardstick for filing-day moves
Where it sits among 53 Gems, Jewellery And Watches peersBar = share of peers beaten · tick = industry median · latest reported figures
P/E (TTM)#28/47
P/B#12/37
ROCE#32/50
ROE#22/37
Debt / Equity#15/37
EBITDA margin#25/35
Revenue growth#4/36
Profit growth#5/34

Scorecard

Measured from the filed financials, judged against its Gems, Jewellery And Watches peers · as of FY26 — not investment advice

Strengths
Revenue compounding 64% a year over 5 years
Debt at 0.03× equity
lower than 61% of its 37 Gems, Jewellery And Watches peers
Concerns
Profit shrinking over 5 years (−19% a year)
Erratic profits — up in only 2 of the last 5 years
Returns on capital 3.1% (5-year median)
#32 of 50 in Gems, Jewellery And Watches on the latest reported figures · down from 16.9% in FY21
Over 5 years it reported ₹4.64 Cr of profit and an operating cash outflow of ₹23 Cr — -5.01×
Less than 60p of every ₹1 of profit arrived as cash
Heavy working capital — 142 days of cash tied up
Customers are taking longer to pay — 33 → 71 days of receivables
FY21 → FY26
EPS grew slower than profit — the share count rose (bonus or dilution)

Charts

How has the market priced it — with filings on the timeline?

Price

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▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.

Peers

How does it stack up on valuation, returns and growth?

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Financials

Quarterly & annual P&L, balance sheet, cash flow, ratios and segments.

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Ownership

Who owns it — and is the promoter stake clean?

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Common questions

Answered from Darshan Orna Limited's filed financials and exchange disclosures

What does Darshan Orna Limited do?

Darshan Orna Limited is a Consumer Durables company listed on BSE.

Is Darshan Orna Limited profitable?

Yes. Over the trailing twelve months Darshan Orna Limited reported a net profit of ₹0.65 Cr on revenue of ₹71 Cr.

Does Darshan Orna Limited pay a dividend?

Not in the latest reported year — Darshan Orna Limited's dividend payout for FY26 was nil.

Is Darshan Orna Limited debt-free?

No. It reported borrowings of ₹0.92 Cr on its 31 Mar 2026 balance sheet, or net debt of ₹0.01 Cr after cash. Debt stands at 0.03× equity. That is lower than 61% of its 37 Gems, Jewellery And Watches peers.

Is Darshan Orna Limited expensive compared with its peers?

On trailing P/E, Darshan Orna Limited ranks 28 of 47 in Gems, Jewellery And Watches — cheaper than 39% of them, against an industry median of 12.9×. This is a position, not a valuation judgement.

How much does the Darshan Orna Limited share price move in a day?

On a typical session Darshan Orna Limited moves 1.00% — that is the median absolute close-to-close move across its last 267 trading days. MarketPing measures each filing's price reaction against it.

When are Darshan Orna Limited's next results?

Financial Results on Mon, 2 Nov. MarketPing alerts you on WhatsApp the moment the filing lands.

Where can I track Darshan Orna Limited's announcements?

Every NSE and BSE filing by Darshan Orna Limited appears on this page, AI-summarised, alongside the price reaction that followed it. Follow the company to get each new filing on WhatsApp within minutes.

Figures are as last reported and may lag the latest filing. Not investment advice.