Darshan Orna

BSE: DARSHANORNA · Gems, Jewellery And Watches

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52W Range₹2 – ₹4

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Snapshot

Unlock Darshan Orna's vital signs

Growth · Profitability · Valuation · Strength · Conviction

Company Overview

Business

Darshan Orna Limited is an Ahmedabad-based entity engaged in the wholesale and retail trade of gold and silver jewellery, ornaments, and accessories. The company distributes a diverse range of traditional and contemporary designs while also participating in the trading of silver bullion.

Business Model

The company operates as a distributor, sourcing finished jewellery and bullion from manufacturers to supply its established network. It leverages its localized presence in Gujarat to cater to broader consumer demand for precious metals and investment-grade silver.

Growth Outlook

The company aims to expand its market reach by leveraging its established distribution network to meet the growing Indian demand for precious metal products. Future growth is contingent on scaling its trading operations and maintaining supply chain efficiency.

Key Risks

  • Commodity Price Volatility. Fluctuations in the global prices of gold and silver can significantly impact the company's profit margins and inventory valuation.
  • Regulatory Risk. The gems and jewellery sector is subject to stringent government regulations and import duties that may affect operational costs.
  • Market Competition. The company faces intense competition from both organized retail chains and numerous unorganized local players in the jewellery market.
  • Geographic Concentration. Reliance on a localized presence in Gujarat exposes the company to regional economic downturns or localized market disruptions.

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Key Metrics

REVENUE

₹71 Cr

TTM · standalone

+229.6%YoY

NET PROFIT

₹0.65 Cr

TTM · standalone

+51.2%YoY

EPS

₹0.11

TTM · standalone

+22.2%YoY

RETURN ON EQUITY

2.8%

TTM · standalone

+0.5 ppYoY

RETURN ON CAPITAL EMPLOYED

4.2%

TTM · standalone

+1.1 ppYoY

P/E

18.8x

Q4 FY26 · standalone

18.8 vs 1.9x5Y avg

EV/EBITDA

20.8x

Q4 FY26 · standalone

20.8 vs 46.5x5Y avg

EBITDA MARGIN

1.4%

TTM · standalone

-1.4 ppYoY

NET PROFIT MARGIN

0.4%

Q4 FY26 · standalone

-0.1 ppYoY

DEBT TO EQUITY

0.0x

Q4 FY26 · standalone

-0.29xYoY

Peers · Gems, Jewellery And Watches

CompanyMkt CapP/EEV/EBITDARev Gr YoYEBITDA MgnROEROCE1Y Return
Darshan OrnaDARSHANORNA
₹21 Cr18.8220.81229.6%1.4%2.8%4.2%-17.2%
Maxgrow IndiaMAXGROW
₹695 Cr——————+928.6%
PNGS Gargi Fashion Jewellery LimitedGARGI
₹650 Cr———27.0%——-30.8%
Uday Jewellery Industries LimitedUDAYJEW
₹517 Cr21.1513.1291.5%7.5%22.9%31.5%+2.0%
Priority Jewels LimitedPRIORITY
₹474 Cr———6.0%———
KD Green Industries LimitedMANBRO
₹290 Cr17.3118.95—13.9%18.1%15.1%-89.5%

As of Q4 FY26

Financials