Deepa Jewellers Share Price & Stock Analysis

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Key Stock Information

ViewIPO AI Analysis Score

The Deepa Jewellers Stock scored 63/100 (Moderate Risk) in our deep analysis.

Frequently Asked Questions

What is the price band for the Deepa Jewellers IPO?

The price band is set at ₹168 to ₹177 per share.

What is the lot size for the Deepa Jewellers IPO?

The lot size is 84 shares.

What is the total issue size of the Deepa Jewellers IPO?

The total issue size is ₹459.72 crore.

What are the main products contributing to Deepa Jewellers' revenue?

Vaddanam (traditional South Indian gold waist belt) contributes 41.85% and CNC machine-cut bangles account for 30.87% of revenue.

What is the company's debt-to-equity ratio as per the prospectus?

The debt-to-equity ratio declined to 0.47 as of July 31, 2026.

What are the key risks highlighted in the Deepa Jewellers IPO prospectus?

Key risks include geographic concentration (94% of revenue from South India), customer concentration (top 10 clients account for 65% of revenue), product concentration, supplier concentration, negative operating cash flows, and seasonal demand fluctuations.

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Home›India›Deepa Jewellers ()
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Deepa JewellersNSE / BSE:

Analyzed by ViewIPO Financial Research Team
Gold Jewellery ManufacturingIndiaFiled 2026-09-01Listed 2026-09-08Size Pending Data
Listing Price ₹202
Listing Return
₹44.00 (+24.86%)
Live Subscription
42.2x Total
Check Allotment
Status Link

Is Deepa Jewellers a Good Stock? Quick Verdict

Deepa Jewellers IPO scored 63/100 (Moderate Risk) in our deep analysis. The strongest pillar is Financial at 87/100, while Competition is the primary concern at 45/100. Deepa Jewellers IPO presents a compelling growth story with strong revenue and profit expansion, improving leverage, and a diversified customer base, but is tempered by significant geographic and customer concentration risks, product reliance, and recent negative operating cash flows.

Stock Score
63/100
Moderate Risk

Quick Verdict

Strong revenue and profit growth with FY26 revenue up 88% from FY24 and PAT up 330%.
Declining debt-to-equity ratio from 0.84 to 0.47, indicating improving leverage.
Diversified customer base of 373 clients including reputable retailers like Joyalukkas and Kalyan Jewellers.
High geographic concentration: 94.37% of FY26 revenue from South India, exposing to regional risks.
Significant customer concentration: top 10 customers account for 64.67% of FY26 revenue, with no long-term contracts.
Negative operating cash flows in FY25 (₹9.86 crore) and FY26 (₹14.73 crore) due to working capital growth.

Company Snapshot

Revenue (TTM)
₹1926.68Cr↑ 37.91% YoY
Profitability
PositiveNet Income ₹104.79Cr
Gross Margin
— 
Market Cap
—Pending Data
Issue Size
— 
Industry
Gold Jewellery Manufacturing 
P/E Ratio
—Pending Data
Return on Equity
38.65%Profitability
Debt to Equity
0.47xLeverage

Risk Breakdown

Governance
65
Moderate
Financial
87
Excellent
Valuation
50
Expensive
Competition
45
Expensive
Dilution
60
Moderate
Promoter / Mgmt
60
Moderate

AI Summary

Deepa Jewellers Ltd is a B2B manufacturer and supplier of 22-karat hallmarked gold jewellery, serving retail chains and standalone stores across South India. The company reported strong revenue growth from ₹1,024.57 crore in FY24 to ₹1,926.68 crore in FY26, with profit after tax rising from ₹24.35 crore to ₹104.79 crore over the same period. While the company benefits from a diversified product portfolio and a stable network of karigars, it faces risks from geographic and customer concentration, negative operating cash flows in recent years, and reliance on a limited supplier base.

Overall Verdict: Deepa Jewellers IPO presents a compelling growth story with strong revenue and profit expansion, improving leverage, and a diversified customer base, but is tempered by significant geographic and customer concentration risks, product reliance, and recent negative operating cash flows.

Key Highlights

  • •Deepa Jewellers designs, processes, and supplies 22-karat hallmarked gold jewellery to B2B clients across 13 states and a Union Territory.
  • •The company’s product portfolio includes 16 categories and 110 SKUs, with flagship products vaddanam and CNC machine-cut bangles contributing ~73% of revenue.
  • •As of July 31, 2026, it worked with a network of 41 karigars, 25 of whom have been associated for over five years.
  • •Revenue grew from ₹1,024.57 crore in FY24 to ₹1,926.68 crore in FY26, a CAGR of approximately 37%.
  • •Profit after tax increased from ₹24.35 crore to ₹104.79 crore over the same period, improving net margin to ~5.4%.
  • •Debt-to-equity ratio improved from 0.84 to 0.47, reflecting a stronger balance sheet.
  • •The company faces risks from geographic concentration (94% of revenue from South India) and high reliance on top 10 customers (65% of revenue).

Financial Performance

Revenue (Annual)

↑ +37.9% YoY

INR in Crores

Net Income (Annual)

↑ +158.2% YoY

INR in Crores

Cash Flow vs Profit

↓ -49.4% YoY

INR in Crores

CF
NP

EBITDA vs PAT

EBITDA YoY

INR in Crores

EBITDA
PAT

Listing Timeline

IPO Opens2026-09-01
IPO Closes2026-09-03
Basis of Allotment2026-09-04
Refunds & Demat2026-09-05
Listing Date2026-09-08

Valuation Analysis

Issue Price₹168 - ₹177
Estimated Fair Value
Pending Data
Valuation Premium
Pending
vs Fair Value

Stock DNA

Growth
66
Governance
65
Profitability
87
Valuation
50
Competition
45
Execution
60

Pros vs Cons

Pros

  • Strong revenue growth (CAGR ~37% FY24-FY26) and profit growth (PAT up 330%).
  • Improving leverage with debt-to-equity ratio declining to 0.47.
  • Diversified customer base of 373 clients including established retailers.
  • Leading market position in niche products vaddanam (41.85% of revenue) and CNC machine-cut bangles (30.87%).

Cons

  • High geographic concentration: 94.37% of FY26 revenue from South India.
  • Significant customer concentration: top 10 customers contribute 64.67% of revenue, with no long-term contracts.
  • Product concentration: reliance on vaddanam and CNC bangles for over 70% of revenue.
  • Negative operating cash flows in FY25 and FY26 due to working capital buildup.

Financial Health

Revenue Growth
37.9% YoY growth in FY26 (₹1,926.68 crore vs ₹1,397.01 crore) (Excellent)
Debt Level
Debt-to-equity ratio of 0.47 as of July 31, 2026 (Excellent)
Cash & Equivalents
Cash balance not disclosed in the prospectus (Moderate)

Institutional Signals

Anchor Investors
Undisclosed
VC Backing Tier
Undisclosed
Strategic Partners
Undisclosed

Deepa Jewellers IPO Reddit Pulse & Sentiment

Real-time Reddit discussions & retail sentiment

No Public Data Available

We couldn't find any significant public discussions or retail sentiment threads for this IPO at the moment.

Disclaimer: These are raw community discussions aggregated from public forums. The AI summary and Reddit comments do not constitute financial advice. Always conduct your own independent research.

Deepa Jewellers Stock — Frequently Asked Questions

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Market Terminology Explained

Confused by terms like GMP, Kostak, or Subject to Sauda? Read our detailed guides in the IPO Glossary to understand the terminology before you invest.

Grey Market Premium (GMP)Subject to SaudaASBAOffer for Sale (OFS)
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Source Citation: All financial data and risk metrics are derived from the official prospectus filed with the regulator (SEBI DRHP/RHP). ViewIPO algorithms process this public data for informational purposes. Not financial advice.

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