---
title: "Darshan Orna Ltd (539884) — Share Price, Financials & Analysis"
symbol: "539884"
company: "Darshan Orna Ltd"
canonical: "https://tapetide.com/stocks/539884"
isin: "INE671T01028"
nse_symbol: "DARSHANORNALTD"
bse_code: "539884"
sector: "Consumer Goods"
industry: "Jewellery & Watches"
market_cap_cr: 21.8
generated_at: "2026-09-13T19:09:19.294Z"
---

# Darshan Orna Ltd (539884)

Canonical page: https://tapetide.com/stocks/539884

## Company

- **NSE Symbol:** DARSHANORNALTD
- **BSE Code:** 539884
- **ISIN:** INE671T01028
- **Sector:** Consumer Goods
- **Industry:** Jewellery & Watches
- **Macro Sector:** Consumer Discretionary
- **Stock Type:** EQUITY
- **Listed Since:** 2016-05-19
- **Face Value:** ₹2
- **F&O Eligible:** No
- **Website:** darshanorna.com

## About

Incorporated in 2011, Darshan Orna Ltd is in the business of gold, silver, and diamond ornaments.[1]

## Latest Price

## Key Fundamentals

Observed at 2026-09-11T04:47:57.130895Z.

- **Market Cap:** ₹21.8 Cr
- **Classification:** Microcap
- **P/E (reported):** 44.8
- **EPS (TTM):** ₹0.04
- **EPS (reported):** ₹0.53
- **Book Value:** ₹3.52
- **Price to Book:** 0.64
- **Dividend Yield:** 0%
- **ROE:** 2.38%
- **ROCE:** 3.15%
- **Debt to Equity:** 0.32
- **Revenue (yearly):** ₹71.49 Cr
- **Net Income:** ₹0.65 Cr
- **EBITDA:** ₹0.95 Cr
- **52-Week High:** ₹3.61
- **52-Week Low:** ₹2.03
- **RSI (14):** 53.67

## Tapetide Score

- **Score:** 48 / 100
- **Score date:** 2026-09-04
- **Archetype:** Weak and Under Pressure
- **What it means:** Weak financials are the defining feature, and neither the valuation nor the trend reading is strong enough to offset them. Worth reading the risk flags and recent filings closely before anything else.
- **Pillar profile:** Quality: Weak · Valuation: Expensive · Momentum: Falling
- **Percentile:** 39.4 (of 4473 scored stocks)
- **Confidence:** 100%
- **Data coverage:** 100%

| Pillar | Score | Weight |
| --- | --- | --- |
| financial health | 72.16 | 9% |
| growth | 98.9 | 9% |
| momentum | 36.58 | 12% |
| ownership | 50 | 24% |
| quality | 40.13 | 22% |
| valuation | 30.78 | 24% |

The Tapetide Score is decision-support only, not investment advice.

## Key Insights

### Strengths

- Company has reduced debt.
- Stock is trading at 1.08 times its book value
- Company is expected to give good quarter
- Company's working capital requirements have reduced from 187 days to 75.4 days

### Weaknesses

- Though the company is reporting repeated profits, it is not paying out dividend
- Promoter holding is low: 34.2%
- Company has a low return on equity of 1.82% over last 3 years.
- Company might be capitalizing the interest cost
- Promoter holding has decreased over last 3 years: -10.6%

## Growth Rates

| Metric | QoQ | 1Y | 3Y | 5Y |
| --- | --- | --- | --- | --- |
| cash flow growth | — | 43.38% | -670.37% | 61.4% |
| ebitda margin growth | -50% | -52.5% | -89.82% | -80.15% |
| net income growth | 0% | 30% | 121% | 67% |
| revenue growth | -50.59% | 217.73% | 73% | 64% |
| roce | — | -80.85% | 224.74% | 8.92% |
| roe | — | -83.14% | 5.65% | -84.36% |

## Financial Statements

### Quarterly Results

All figures in ₹ crore unless the row name says otherwise.

| Item | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Sales | 3.33 | 10.97 | 4.85 | 8.42 | 2.47 | 2.4 | 8.4 | 14.78 | 6.31 | 25.07 | 25.32 | 12.47 |
| Expenses | 3.11 | 10.88 | 5.44 | 8.26 | 2.23 | 2.26 | 9.11 | 14.5 | 5.95 | 24.98 | 25.11 | 12.39 |
| Operating Profit | 0.22 | 0.09 | -0.59 | 0.16 | 0.24 | 0.14 | -0.71 | 0.28 | 0.36 | 0.09 | 0.21 | 0.08 |
| OPM % | 6.61 | 0.82 | -12.16 | 1.9 | 9.72 | 5.83 | -8.45 | 1.89 | 5.71 | 0.36 | 0.83 | 0.64 |
| Other Income | 1.09 | 0.29 | 1.97 | 0 | 0.04 | 0 | 0.78 | 0 | 0 | 0 | 0.01 | 0 |
| Interest | 0.01 | 0.02 | 0 | 0.02 | 0.02 | 0.01 | 0.02 | 0.02 | 0.02 | -0.03 | 0.06 | 0.02 |
| Depreciation | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit before tax | 1.3 | 0.36 | 1.38 | 0.14 | 0.26 | 0.13 | 0.05 | 0.26 | 0.34 | 0.12 | 0.16 | 0.06 |
| Tax % | 25.38 | 5.56 | 5.8 | 21.43 | 15.38 | 15.38 | 20 | 19.23 | 29.41 | 25 | 31.25 | 16.67 |
| Net Profit | 0.97 | 0.34 | 1.3 | 0.1 | 0.22 | 0.11 | 0.04 | 0.21 | 0.24 | 0.09 | 0.11 | 0.05 |
| EPS in Rs | 0.1 | 0.03 | 0.13 | 0.01 | 0.02 | 0.01 | 0 | 0.02 | 0.02 | 0.01 | 0.01 | 0 |

### Profit & Loss

All figures in ₹ crore unless the row name says otherwise.

| Item | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Sales | 39.69 | 9.26 | 18.14 | 6.02 | 13.1 | 13.82 | 20.87 | 21.69 | 71.49 | 69.17 |
| Expenses | 39.16 | 9.04 | 19.79 | 6.03 | 13 | 13.87 | 21.13 | 21.63 | 70.56 | 68.43 |
| Operating Profit | 0.53 | 0.22 | -1.65 | -0.01 | 0.1 | -0.05 | -0.26 | 0.06 | 0.93 | 0.74 |
| OPM % | 1.34 | 2.38 | -9.1 | -0.17 | 0.76 | -0.36 | -1.25 | 0.28 | 1.3 | 1.07 |
| Other Income | -0.26 | 0 | -0.01 | 2.06 | 0.83 | 0.18 | 3.44 | 0.57 | 0.01 | 0.01 |
| Interest | 0.01 | 0 | 0.02 | 0.05 | 0.05 | 0.05 | 0.05 | 0.06 | 0.06 | 0.07 |
| Depreciation | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit before tax | 0.26 | 0.22 | -1.68 | 2 | 0.88 | 0.08 | 3.13 | 0.57 | 0.88 | 0.68 |
| Tax % | 57.69 | 27.27 | 0 | 8 | 10.23 | 25 | 14.38 | 17.54 | 26.14 | — |
| Net Profit | 0.1 | 0.15 | -1.68 | 1.84 | 0.79 | 0.06 | 2.67 | 0.47 | 0.65 | 0.49 |
| EPS in Rs | 0.01 | 0.02 | -0.17 | 0.18 | 0.08 | 0.01 | 0.27 | 0.05 | 0.06 | 0.04 |
| Dividend Payout % | 119 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | — |

### Balance Sheet

All figures in ₹ crore unless the row name says otherwise.

| Item | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Sep 2025 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Equity Capital | 4.76 | 4.76 | 10.01 | 10.01 | 10.01 | 10.01 | 10.01 | 10.01 | 10.01 | 10.01 |
| Reserves | 7 | 7.12 | 2.18 | 0.17 | 2.09 | 3.03 | 3.05 | 8.91 | 9.62 | 10.22 |
| Borrowings | 0.01 | 0.35 | 0 | 0 | 0 | 0 | 0 | 3.69 | 6.31 | 4.8 |
| Other Liabilities | 0.34 | 0.61 | 0.78 | 2.9 | 0.23 | 0.3 | 0.35 | 1.97 | 1.17 | 0.98 |
| Total Liabilities | 12.11 | 12.84 | 12.97 | 13.08 | 12.33 | 13.34 | 13.41 | 24.58 | 27.11 | 26.01 |
| Fixed Assets | 0.02 | 0.02 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0 | 0 |
| CWIP | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Investments | 0.73 | 4.73 | 4.99 | 3.13 | 1.54 | 1.92 | 1.63 | 5.71 | 4.71 | 4.56 |
| Other Assets | 11.36 | 8.09 | 7.97 | 9.94 | 10.78 | 11.41 | 11.77 | 18.86 | 22.4 | 21.45 |
| Total Assets | 12.11 | 12.84 | 12.97 | 13.08 | 12.33 | 13.34 | 13.41 | 24.58 | 27.11 | 26.01 |

### Cash Flow

All figures in ₹ crore unless the row name says otherwise.

| Item | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Cash from Operating Activity | -6.73 | 4.08 | 0.02 | -1.46 | -3.99 | -0.92 | 0.27 | -2.72 | -1.54 | — |
| Cash from Investing Activity | -0.94 | -4 | -0.26 | 1.85 | 3.6 | 0.52 | -0.11 | 2.9 | 1.81 | — |
| Cash from Financing Activity | 7.54 | 0 | 0.15 | -0.18 | 0.08 | 0.1 | 0 | -0.05 | 0.18 | — |
| Net Cash Flow | -0.13 | 0.08 | -0.09 | 0.21 | -0.31 | -0.31 | 0.16 | 0.13 | 0.45 | — |
| Free Cash Flow | -6.73 | 4.08 | 0.02 | -1.46 | -3.99 | -0.92 | 0.27 | -2.72 | -1.54 | — |
| CFO/OP | -8412 | 770 | 36 | 88 | 38300 | -830 | -580 | 873 | -2400 | — |

### Ratios

| Item | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Debtor Days | 190.91 | 53.43 | 134.02 | 101.01 | 32.74 | 8.64 | 62.07 | 0 | 43.25 | — |
| Inventory Days | 153.74 | 17.62 | 176.24 | 78.09 | 625.62 | 315.84 | 251.56 | 322.45 | 320.93 | — |
| Days Payable | 4.88 | 2.34 | 27.56 | 51.13 | 5 | 6 | 6.17 | 2.64 | 3.93 | — |
| Cash Conversion Cycle | 339.77 | 68.71 | 282.69 | 127.97 | 653.37 | 318.47 | 307.46 | 319.81 | 360.25 | — |
| Working Capital Days | 338.22 | 63.45 | 277.1 | 134.41 | 636.63 | 316.8 | 303.99 | 236.45 | 248.55 | — |
| ROCE % | 1.36 | 4.58 | 1.8 | -14.75 | -0.09 | 0.88 | 1 | -1.46 | 3.58 | — |

## Shareholding Pattern

### Quarterly

| Category | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Promoters | 44.37% | 44.37% | 44.37% | 42.43% | 41.69% | 30.4% | 30.4% | 30.4% | 30.4% | 34.17% | 34.17% | 34.17% |
| FIIs | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
| DIIs | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
| Government | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
| Public | 29.78% | 32.54% | 32.69% | 35.71% | 39.74% | 61.54% | 57.54% | 58.68% | 56.15% | 26.4% | 26.26% | 26.26% |
| Others | 25.85% | 23.09% | 22.94% | 21.86% | 18.57% | 8.06% | 12.05% | 10.91% | 13.44% | 39.43% | 39.57% | 39.57% |
| No. of Shareholders | 11039 | 11704 | 14956 | 16722 | 19379 | 23666 | 25437 | 25179 | 24357 | 23833 | 23155 | 22761 |

## Technical Indicators

Derived from daily closing prices and recomputed each trading session; values move with the market.

- **Overall Signal:** Strong Sell
- **Buy / Neutral / Sell:** 2 / 6 / 11

### Moving Averages — summary: **Strong Sell**

| Indicator | Value | Signal |
| --- | --- | --- |
| SMA (10) | 2.21 | Sell |
| EMA (10) | 2.22 | Sell |
| SMA (20) | 2.2 | Sell |
| EMA (20) | 2.21 | Sell |
| SMA (50) | 2.2 | Sell |
| EMA (50) | 2.22 | Sell |
| SMA (100) | 2.29 | Sell |
| EMA (100) | 2.3 | Sell |
| SMA (200) | 2.52 | Sell |
| EMA (200) | 2.41 | Sell |

### Oscillators — summary: **Buy**

| Indicator | Value | Signal |
| --- | --- | --- |
| RSI (14) | 47.18 | Neutral |
| MACD (12,26,9) | 0.01 | Buy |
| Stochastic (14,3,3) | 21.77 | Neutral |
| ADX (14) | 21.2 | Neutral |
| Williams %R (14) | -85.71 | Buy |
| ATR (14) | 0.1 | High Volatility |
| ROC (12) | -1.36 | Sell |
| Stoch RSI (14) | 25.23 | Neutral |
| UO (7,14,28) | 46.31 | Neutral |

## Filings & Documents

### Exchange Filings & Announcements

| Date | Document |
| --- | --- |
| 2026-09-09 | [Announcement under Regulation 30 (LODR)-Newspaper Publication](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=fa7687b8-3892-402b-be47-71293ebe2205.pdf) |
| 2026-09-02 | [Announcement under Regulation 30 (LODR)-Newspaper Publication](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=c2ffdee6-6341-4d40-81d7-10c751640f24.pdf) |
| 2026-09-02 | [Reg. 34 (1) Annual Report.](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=2fd5520d-fed0-4c02-87b4-922851e8d0f6.pdf) |
| 2026-09-02 | [Shareholder Meeting- AGM On 25Th September 2026 At 1:00 PM](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=4fa9f0b9-b8d8-410e-88e7-91a0a14b95cd.pdf) |
| 2026-09-02 | [Intimation Of Cut Off Date For E Voting](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=9d8e2ebd-6792-4df4-99b3-302fc6f4097a.pdf) |
| 2026-09-01 | [Announcement under Regulation 30 (LODR)-Change in Management](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=de3dab4c-e0b4-4ccd-8ce6-1a718957b646.pdf) |
| 2026-09-01 | [Board Meeting Outcome for Outcome Of The Board Meeting Held On September 01 2026 Pursuant To Regulation 30 Of SEBI (Listing Obligations And Disclosure Requirements) Regulations 2015](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=22fb5300-8f13-4a90-bea1-3fb314f80d3e.pdf) |
| 2026-09-01 | [Announcement under Regulation 30 (LODR)-Change in Management](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=1217294f-f34d-4f68-8fc4-addac99febcd.pdf) |
| 2026-09-01 | [Announcement under Regulation 30 (LODR)-Resignation of Statutory Auditors](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=80d436c8-61a8-4eb9-b86b-3c8893307511.pdf) |
| 2026-09-01 | [Announcement under Regulation 30 (LODR)-Appointment of Statutory Auditor/s](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=d789a7dc-c7c7-4b6b-8774-0bc6409c68b5.pdf) |

### Results & Financial Statements

| Date | Document |
| --- | --- |
| 2026-08-08 | [Results- Financial Result For Jun 30 2026](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=bb3b9af8-223e-4980-a51e-54976078573d.pdf) |
| 2026-05-28 | [Financial Result For The March 31 2026](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=5c97caa1-b62a-4b23-ad01-ec34c84bdb8a.pdf) |
| 2026-02-14 | [Unaudited Financial Results For The Quarter And Nine Months Ended 31St December 2025](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=c98ad48c-1674-425b-a477-49c0d7e9bce2.pdf) |
| 2025-10-14 | [Financial Results For The Quarter And Half Year Ended 30Th September 2025](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=a95a6ed0-7c8b-457b-a0d1-f3ada1b26711.pdf) |
| 2025-08-12 | [Unaudited Standalone Financial Results For The Quarter Ended 30Th June 2025](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=d0b768d5-a4dd-4476-bdb5-77e94169b6e9.pdf) |
| 2025-05-30 | [Audited Standalone Financial Results For The Quarter And Financial Year Ended 31St March 2025](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=5dbbcadb-bed2-4124-98eb-5d2e15aac27c.pdf) |
| 2025-01-07 | [Unaudited Financial Results For The Quarter And Nine Months Ended 31St December 2024](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=4df8f1be-2115-4fbb-bb21-45066dd06bc2.pdf) |
| 2024-10-18 | [Financial Results For Quarter Ending 30Th September 2024.](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=bb379c5c-eefb-4b3c-a6d1-bd63e0d24e2f.pdf) |
| 2024-08-13 | [Results-Fiancial Results For Quarter Ending June 30Th,2024](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=c5422666-f3da-48b1-a9e0-31c38f56d52c.pdf) |
| 2024-05-30 | [Results](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=44f364e1-ca99-474a-a45d-9140967863bd.pdf) |

### Other Documents

| Date | Document |
| --- | --- |
| 8h - Orbit Exports formed 100% owned Dubai subsidiary Orbit Elegance; paid-up capital AED 10,000; trade license issued January 10, 2026. | [Announcement under Regulation 30 (LODR)-Acquisition 8h - Orbit Exports formed 100% owned Dubai subsidiary Orbit Elegance; paid-up capital AED 10,000; trade license issued January 10, 2026.](https://www.bseindia.com/xml-data/corpfiling/AttachLive/c54744b5-dec1-4224-8c5c-6cded0a089fa.pdf) |
| 7 Feb - Board meeting Feb 14, 2026 to approve unaudited results for quarter and nine months ended Dec 31, 2025. | [Board Meeting Intimation for Declaration Of Unaudited Financial Results 7 Feb - Board meeting Feb 14, 2026 to approve unaudited results for quarter and nine months ended Dec 31, 2025.](https://www.bseindia.com/xml-data/corpfiling/AttachHis/284f4f0c-488c-4df3-89cd-e0eeb3400103.pdf) |
| 6 Jan - In compliance with Regulation 74(5) of SEBI (DP) Regulations 2018, we hereby submit the certificate received from RTA for the quarter ended December 31, 2025. | [Compliances-Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018 6 Jan - In compliance with Regulation 74(5) of SEBI (DP) Regulations 2018, we hereby submit the certificate received from RTA for the quarter ended December 31, 2025.](https://www.bseindia.com/xml-data/corpfiling/AttachHis/de084a91-1331-472a-a872-245ab27bc40b.pdf) |
| 30 Jan - Q3/9M FY26 unaudited results approved; appointed Aditya Jain and Parth Seth; one-time ₹5,194 lakh labour-charge. | [Announcement under Regulation 30 (LODR)-Change in Directorate 30 Jan - Q3/9M FY26 unaudited results approved; appointed Aditya Jain and Parth Seth; one-time ₹5,194 lakh labour-charge.](https://www.bseindia.com/xml-data/corpfiling/AttachHis/00471508-db58-460e-b232-9a465f0280a7.pdf) |
| 30 Jan - Board approved Q3/9M results; appointed Parth Seth CEO and Aditya Jain independent director; postal ballot. | [Results-Financial Results For 31-12-2025 30 Jan - Board approved Q3/9M results; appointed Parth Seth CEO and Aditya Jain independent director; postal ballot.](https://www.bseindia.com/xml-data/corpfiling/AttachHis/2939ed1e-7876-4215-b93d-8640551aa044.pdf) |
| 3 Apr - Regulation 74(5) compliance certificate filed for quarter ended March 31, 2026. | [Compliances-Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018 3 Apr - Regulation 74(5) compliance certificate filed for quarter ended March 31, 2026.](https://www.bseindia.com/xml-data/corpfiling/AttachHis/db6fd76e-7469-4a7b-9973-dd9efb33a5b2.pdf) |
| 3 Apr - Promoter group disclosed no share encumbrance as of March 31, 2026. | [Disclosures Under Regulation 31(4) Of SEBI (SAST) Regulations, 2011 3 Apr - Promoter group disclosed no share encumbrance as of March 31, 2026.](https://www.bseindia.com/xml-data/corpfiling/AttachHis/e4f219e6-9d58-4233-ad54-08c642c2eed8.pdf) |
| 3 Apr - Confirmed non-applicability of Large Corporate annual disclosure for FY ended 31 March 2026. | [Format of the Annual Disclosure to be made by an entity identified as a LC - Annexure B2 3 Apr - Confirmed non-applicability of Large Corporate annual disclosure for FY ended 31 March 2026.](https://www.bseindia.com/xml-data/corpfiling/AttachHis/1497c916-fab9-4c85-a638-818dec85b533.pdf) |
| 3 Apr - April 3, 2026: Darshan Orna confirms it is not a Large Corporate; no initial disclosure required. | [Format of the Initial Disclosure to be made by an entity identified as a Large Corporate : Annexure A 3 Apr - April 3, 2026: Darshan Orna confirms it is not a Large Corporate; no initial disclosure required.](https://www.bseindia.com/xml-data/corpfiling/AttachHis/b1c52364-5cd0-46ef-9cd9-3cd3cc8d355e.pdf) |
| 21 Mar - Trading window closed from April 1, 2026 until 48 hours after audited FY2026 results declaration. | [Closure of Trading Window 21 Mar - Trading window closed from April 1, 2026 until 48 hours after audited FY2026 results declaration.](https://www.bseindia.com/xml-data/corpfiling/AttachHis/2d99ed55-7afd-47df-9db8-7c9547108056.pdf) |

### Annual Reports

| Date | Document |
| --- | --- |
| from bse | [Financial Year 2025 from bse](https://www.bseindia.com/xml-data/corpfiling/AttachHis/22c18c72-5785-43f8-b463-5b84d7b03ef4.pdf) |
| from bse | [Annual Report 2025 from bse](https://www.bseindia.com/xml-data/corpfiling/AttachHis/63ebbc7c-5a40-4a09-9b39-2d6a7ac20c52.pdf) |
| from bse | [Financial Year 2024 from bse](https://www.bseindia.com/xml-data/corpfiling/AttachHis/aaa8efa1-cb91-4856-8df3-f61e90c7ef37.pdf) |
| from bse | [Annual Report 2024 from bse](https://www.bseindia.com/xml-data/corpfiling/AttachHis/910b26aa-bcd2-4eca-bf91-cfb6406a1259.pdf) |
| from bse | [Financial Year 2023 from bse](https://www.bseindia.com/xml-data/corpfiling/AttachHis/2ab3c8cc-b682-4dd1-8044-014c898256b6.pdf) |
| from bse | [Annual Report 2023 from bse](https://www.bseindia.com/xml-data/corpfiling/AttachHis/3c357a0e-d7d4-4902-9aaf-37cacd0efffb.pdf) |
| from bse | [Financial Year 2022 from bse](https://www.bseindia.com/bseplus/AnnualReport/512626/75200512626.pdf) |
| from bse | [Annual Report 2022 from bse](https://www.bseindia.com/bseplus/AnnualReport/539884/76999539884.pdf) |
| from bse | [Financial Year 2021 from bse](https://www.bseindia.com/bseplus/AnnualReport/512626/72017512626.pdf) |
| from bse | [Annual Report 2021 from bse](https://www.bseindia.com/bseplus/AnnualReport/539884/71742539884.pdf) |

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Provenance differs by section. Financial statements, shareholding and filings are as reported in company disclosures to NSE/BSE/SEBI. Price, volume and 52-week levels are exchange market data. Technical indicators are computed by Tapetide from daily closing prices. The Tapetide Score is Tapetide's own analysis. Analyst ratings are third-party estimates, not company statements. All figures are for research and information only and are not investment advice. Generated 2026-09-13T19:09:19.294Z.