BSE: 539559
Deep Health AI India Limited
Operates a small pharmaceutical business alongside a residual jewellery trade, with FY26 revenue of Rs. 4.25 crore and a reported EBITDA margin of 42.4 percent. The company, formerly Deep Diamond India Limited, has shifted focus toward health, agro-tourism and investments, and is classified in the Gems, Jewellery and Watches basic industry. A Pharmaceutical Business segment generated Rs. 0.25 crore of revenue and Rs. 0.0524 crore EBIT in the period ended March 2026, while a Jewellery Business segment that was active in earlier quarters showed no revenue in FY26. Other Income contributed Rs. 0.18 crore EBIT in the same period. The biggest expense line is other operating expenses at 17.1 percent of FY26 revenue, with employee costs at 4.4 percent and materials at 0 percent. Recent activity includes a Rs. 19.92 crore cash acquisition of a 6.37 percent stake (90.3 lakh shares at Rs. 22.06 per share) in Leapfrog Engineering Services, an EPCC firm serving oil and gas, pharma, food processing, metals and chemicals. The company also paid Rs. 2.85 crore as advance for about 49,100 sq. mtr. of land in Pune, Maharashtra, earmarked for a naturopathy centre, holistic rejuvenation centre, medicinal plant cultivation and agro-tourism. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. Pharmaceutical Business, Jewellery Business, Other Income. Small-scale, transitioning from gems and jewellery to pharmaceutical, wellness and equity investments
Exhibit 1: Financial summary, FY24–FY26 (all audited; no estimate years)
| ₹ crore · consolidated | FY24 | FY25 | FY26 |
|---|---|---|---|
| Revenue | 3 | 1 | 4 |
| EBITDA (ex other income) | (0) | 0 | (2) |
| margin % | (10.4) | 36.1 | (57.3) |
| Owners' profit | 0 | 1 | 1 |
| EPS, as reported (₹) | 0.14 | 0.18 | 0.12 |
| ROE % · ROCE % | 2.0 · 4.0 | 3.8 · 5.3 | 2.2 · 3.5 |
| Debt / equity (x) | 0.08 | 0.03 | 0.01 |
| Cash from operations | (5) | 0 | (4) |
| Capex | 0 | (0) | (0) |
Exhibit 2: Quarterly performance, last 8 quarters
| ₹ crore | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 1 | 0 | 0 | 0 | 0 | 3 | 1 | 0 |
| Profit before tax | 0 | 0 | 0 | 0 | 0 | 3 | 4 | (6) |
| Net profit | 0 | 0 | 0 | 0 | 0 | 3 | 3 | (5) |
| EPS (₹) | 0.06 | 0.09 | (0.07) | 0.07 | 0.10 | 0.54 | 0.21 | 0.48 |
Exhibit 3: Peers — basic industry group, by market cap
| Company | M.cap ₹ cr | P/E | P/B | EV/EBITDA | ROE % | ROCE % | Rev CAGR 5y % | EBITDA m. % |
|---|---|---|---|---|---|---|---|---|
| KHAZANCHI JEWELLERS LTD | 1,792 | 12.6 | 5.61 | — | 28.0 | 37.7 | — | 6.8 |
| UDAY JEWELLERY INDS. LTD. | 753 | 28.5 | 3.63 | — | 17.2 | 23.1 | — | 8.3 |
| PNGS GARGI FASHION JEWELLERY L | 540 | 11.4 | 3.81 | — | 22.1 | 27.0 | — | 30.4 |
| KD GREEN INDUSTRIES LTD | 284 | 18.1 | 3.95 | 31.7 | 7.0 | 8.6 | — | 16.5 |
| GOLKUNDA DIAMONDS & JEWELLERY | 246 | 18.0 | 3.07 | — | 17.1 | 20.7 | — | 9.0 |
| AJC Jewel Manufacturers Limite | 198 | 47.5 | — | — | — | 28.7 | — | — |
| ASHAPURI GOLD ORNAMENT L | 192 | 9.3 | 1.15 | — | 11.1 | 15.0 | — | 11.4 |
| Patdiam Jewellery Limited | 147 | 7.8 | — | — | — | — | — | — |
Exhibit 4: Where the company sits in its group
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/E (TTM) | 1.2 | 12.9 | 3 of 47 | 96% |
| P/B | 0.5 | 1.0 | 6 of 37 | 86% |
| ROCE | 3.4 | 4.7 | 29 of 50 | 43% |
| ROE | 2.2 | 2.3 | 20 of 37 | 47% |
| Debt / Equity | 0.0 | 0.1 | 13 of 37 | 67% |
| EBITDA margin | (2214.5) | 6.8 | 35 of 35 | 0% |
| Revenue growth | (44.4) | 13.8 | 27 of 36 | 26% |
| Profit growth | (1385.5) | 1.4 | 34 of 34 | 0% |
| Market cap | 23 | 25 | 29 of 54 | 47% |
Exhibit 5: Filings of the last 90 days, with the measured price reaction
| Date · filing | Category | Importance | Next day % | 5-day % |
|---|---|---|---|---|
| 14 Oct 2026 · Routine RTA compliance certificate for Q2 FY27 dematerialisation | compliance | minimal | — | — |
| 5 Oct 2026 · Board approves debt acquisition worth Rs 10.35 cr from Kshitij Polyline | board shareholder meetings | low | — | — |
| 5 Oct 2026 · Board approves debt acquisition worth around 10.35 crore | board shareholder meetings | low | — | — |
| 5 Oct 2026 · Board approves debt acquisition of about Rs 10.35 crore from Kshitij Polyline | board shareholder meetings | low | — | — |
| 30 Sept 2026 · New Independent Director and Statutory Auditor appointed at Deep Health AI India | management changes | medium | — | — |
| 30 Sept 2026 · Vimal C Surana appointed auditor; Choubisa joins as independent director | management changes | medium | — | — |
| 30 Sept 2026 · New independent director and auditor appointed at Deep Health AI India | management changes | medium | — | — |
| 30 Sept 2026 · 32nd AGM held via video conferencing; voting results and scrutinizer report submitted | board shareholder meetings | low | — | — |
| 30 Sept 2026 · 32nd AGM concluded; all 6 resolutions passed including auditor and director appointments | board shareholder meetings | low | — | — |
| 25 Sept 2026 · Trading window closure for Q2 FY27 results | compliance | minimal | — | — |
How to read this document
| Where a broker report shows | This document shows | Why |
|---|---|---|
| A rating (BUY / ADD / REDUCE / SELL) | A state: the latest filed quarter and the measured reactions | an event is a fact; a rating is an opinion that requires SEBI RA registration |
| A target price and upside | The current price and the multiples against the group | a target is a forecast; a multiple is a measurement |
| Estimate years marked E | More audited years; no estimates | MarketPing publishes no forecasts — your own model lives on the Models page |
Sources, method and disclosures
This document is a statistical summary of publicly filed information and market data, prepared by software from primary sources: SEBI results XBRL filed with BSE and NSE, LODR disclosures, shareholding patterns, exchange price data. It contains no research recommendation, no price target and no opinion on the merits of any security, and is not a research report within the meaning of the SEBI (Research Analysts) Regulations, 2014, Regulation 2(1)(w)(vii). Financial statements are as filed (consolidated where the company files consolidated results). Ratios are computed over filed lines. Where a figure is unavailable the table shows a dash rather than an estimate. The business brief is written by MarketPing's reader from the annual report and checked against it; no figure in a table was generated by a model. Nothing here constitutes investment advice, an offer or a solicitation; readers should consult a SEBI-registered adviser before acting. MarketPing is not a SEBI-registered intermediary.