Darshan Orna
DARSHANORNALTD NSE
Darshan Orna
Consumer GoodsNSE: DARSHANORNALTD BSE: DARSHANORNA Jewellery & Watches
Key Fundamentals
MicrocapJewellery & WatchesConsumer GoodsMarket Cap
₹21.80 Cr
Volatility
Moderate
P/E Ratio
44.8
EBITDA
₹0.95 Cr
Return on Equity
2.38%
Debt to Equity
0.32
Book Value
₹3.52
EPS
₹0.53
52W High
₹3.61
52W Low
₹2.03
Tapetide Score
Data-driven rating, 0–100. How it works →
Key Insights
Strengths
4- 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
5- 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 Rate
Revenue Growth
218% higher than
3Y
Net Income Growth
30% lower than
3Y
Cash Flow Change
43.38% higher than
3Y
ROE
-83.14% lower than
3Y
ROCE
-80.85% lower than
3Y
EBITDA Margin (Avg.)
-52.5% higher than
3Y
Quarterly Results
| Particulars | Jun 2023 | 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 | 1.72 | 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 | 1.69 | 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 | 0.03 | 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 % | 1.74% | 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 | 0.08 | 1.09 | 0.29 | 1.97 | 0 | 0.04 | 0 | 0.78 | 0 | 0 | 0 | 0.01 | 0 |
| Interest | 0.01 | 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 | 0 |
| PBT | 0.1 | 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 % | 20% | 25.38% | 5.56% | 5.8% | 21.43% | 15.38% | 15.38% | 20% | 19.23% | 29.41% | 25% | 31.25% | 16.67% |
| Net Profit | 0.08 | 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 | 0.01 | 0.1 | 0.03 | 0.13 | 0.01 | 0.02 | 0.01 | 0 | 0.02 | 0.02 | 0.01 | 0.01 | 0 |
Profit & Loss
| Particulars | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 8.23 | 15.3 | 11.72 | 39.69 | 9.26 | 18.14 | 6.02 | 13.1 | 13.82 | 20.87 | 21.69 | 71.49 | 69.17 |
| Expenses | 8.2 | 15.33 | 11.64 | 39.16 | 9.04 | 19.79 | 6.03 | 13 | 13.87 | 21.13 | 21.63 | 70.56 | 68.43 |
| Operating Profit | 0.03 | -0.03 | 0.08 | 0.53 | 0.22 | -1.65 | -0.01 | 0.1 | -0.05 | -0.26 | 0.06 | 0.93 | 0.74 |
| OPM % | 0.36% | -0.2% | 0.68% | 1.34% | 2.38% | -9.1% | -0.17% | 0.76% | -0.36% | -1.25% | 0.28% | 1.3% | 1.07% |
| Other Income | 0 | 0.04 | 0.04 | -0.26 | 0 | -0.01 | 2.06 | 0.83 | 0.18 | 3.44 | 0.57 | 0.01 | 0.01 |
| Interest | 0 | 0 | 0.01 | 0.01 | 0 | 0.02 | 0.05 | 0.05 | 0.05 | 0.05 | 0.06 | 0.06 | 0.07 |
| Depreciation | 0 | 0.01 | 0.01 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| PBT | 0.03 | 0 | 0.1 | 0.26 | 0.22 | -1.68 | 2 | 0.88 | 0.08 | 3.13 | 0.57 | 0.88 | 0.68 |
| Tax % | 0% | — | 30% | 57.69% | 27.27% | 0% | 8% | 10.23% | 25% | 14.38% | 17.54% | 26.14% | — |
| Net Profit | 0.02 | 0 | 0.07 | 0.1 | 0.15 | -1.68 | 1.84 | 0.79 | 0.06 | 2.67 | 0.47 | 0.65 | 0.49 |
| EPS in Rs | 0.02 | 0 | 0.01 | 0.01 | 0.02 | -0.17 | 0.18 | 0.08 | 0.01 | 0.27 | 0.05 | 0.06 | 0.04 |
| Div. Payout % | 0% | — | 0% | 119% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | — |
Balance Sheet
| Particulars | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Sep 2025 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 0.52 | 3.51 | 4.76 | 4.76 | 10.01 | 10.01 | 10.01 | 10.01 | 10.01 | 10.01 | 10.01 | 10.01 |
| Reserves | 2.89 | 0.62 | 7 | 7.12 | 2.18 | 0.17 | 2.09 | 3.03 | 3.05 | 8.91 | 9.62 | 10.22 |
| Borrowings | 0 | 0.25 | 0.01 | 0.35 | 0 | 0 | 0 | 0 | 0 | 3.69 | 6.31 | 4.8 |
| Other Liabilities | 0.17 | 0.88 | 0.34 | 0.61 | 0.78 | 2.9 | 0.23 | 0.3 | 0.35 | 1.97 | 1.17 | 0.98 |
| Total Liabilities | 3.58 | 5.26 | 12.11 | 12.84 | 12.97 | 13.08 | 12.33 | 13.34 | 13.41 | 24.58 | 27.11 | 26.01 |
| Fixed Assets | 0.03 | 0.02 | 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 | 0 | 0 |
| Investments | 0 | 0 | 0.73 | 4.73 | 4.99 | 3.13 | 1.54 | 1.92 | 1.63 | 5.71 | 4.71 | 4.56 |
| Other Assets | 3.55 | 5.24 | 11.36 | 8.09 | 7.97 | 9.94 | 10.78 | 11.41 | 11.77 | 18.86 | 22.4 | 21.45 |
| Total Assets | 3.58 | 5.26 | 12.11 | 12.84 | 12.97 | 13.08 | 12.33 | 13.34 | 13.41 | 24.58 | 27.11 | 26.01 |
Cash Flow
| Particulars | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating | -2.87 | -0.24 | -6.73 | 4.08 | 0.02 | -1.46 | -3.99 | -0.92 | 0.27 | -2.72 | -1.54 | — |
| Investing | -0.03 | 0 | -0.94 | -4 | -0.26 | 1.85 | 3.6 | 0.52 | -0.11 | 2.9 | 1.81 | — |
| Financing | 3.33 | 0 | 7.54 | 0 | 0.15 | -0.18 | 0.08 | 0.1 | 0 | -0.05 | 0.18 | — |
| Net Cash Flow | 0.42 | -0.24 | -0.13 | 0.08 | -0.09 | 0.21 | -0.31 | -0.31 | 0.16 | 0.13 | 0.45 | — |
| Free Cash Flow | -2.9 | -0.24 | -6.73 | 4.08 | 0.02 | -1.46 | -3.99 | -0.92 | 0.27 | -2.72 | -1.54 | — |
| CFO/OP | -9,567 | 800 | -8,412 | 770 | 36 | 88 | 38,300 | -830 | -580 | 873 | -2,400 | — |
Ratios
| Particulars | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 90.92 | 82.3 | 191 | 53.43 | 134 | 101 | 32.74 | 8.64 | 62.07 | 0 | 43.25 | — |
| Inventory Days | 42.81 | 24.27 | 154 | 17.62 | 176 | 78.09 | 626 | 316 | 252 | 322 | 321 | — |
| Days Payable | 0.45 | 0.24 | 4.88 | 2.34 | 27.56 | 51.13 | 5 | 6 | 6.17 | 2.64 | 3.93 | — |
| Cash Conversion Cycle | 133 | 106 | 340 | 68.71 | 283 | 128 | 653 | 318 | 307 | 320 | 360 | — |
| Working Capital Days | 126 | 83.26 | 338 | 63.45 | 277 | 134 | 637 | 317 | 304 | 236 | 249 | — |
| ROCE % | 1.58% | 0% | 1.36% | 4.58% | 1.8% | -14.75% | -0.09% | 0.88% | 1% | -1.46% | 3.58% | — |
Insights
BetaAI-extracted from concalls & annual reports · figures as reported, with sources
Log in to view Darshan Orna insights
56 extracted metrics + investor summaries across FY12–FY25.
Documents
1
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. 3 Apr - Regulation 74(5) compliance certificate filed for quarter ended March 31, 2026.
2
Disclosures Under Regulation 31(4) Of SEBI (SAST) Regulations, 2011
3 Apr - Promoter group disclosed no share encumbrance as of March 31, 2026. 3 Apr - Promoter group disclosed no share encumbrance as of March 31, 2026.
3
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. 3 Apr - April 3, 2026: Darshan Orna confirms it is not a Large Corporate; no initial disclosure required.
4
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. 3 Apr - Confirmed non-applicability of Large Corporate annual disclosure for FY ended 31 March 2026.
5
Closure of Trading Window
21 Mar - Trading window closed from April 1, 2026 until 48 hours after audited FY2026 results declaration. 21 Mar - Trading window closed from April 1, 2026 until 48 hours after audited FY2026 results declaration.
Frequently Asked Questions about Darshan Orna
What does Darshan Orna Ltd do?
Incorporated in 2011, Darshan Orna Ltd is in the business of gold, silver, and diamond ornaments.[1]
Where is Darshan Orna Ltd (539884) listed?
Darshan Orna Ltd trades as DARSHANORNALTD on the NSE and under code DARSHANORNA on the BSE.
Which sector does Darshan Orna Ltd belong to?
Darshan Orna Ltd is classified under the Consumer Goods sector, in the Jewellery & Watches industry.
What is the market capitalisation of Darshan Orna Ltd?
Darshan Orna Ltd has a market capitalisation of ₹21.8 Cr, which places it in the Small Cap band.
What is the PE ratio of Darshan Orna Ltd?
Darshan Orna Ltd trades at a PE ratio of 44.80, on earnings per share of ₹0.53, against a book value of ₹3.52 per share.
What is the 52-week high and low of Darshan Orna Ltd?
Over the last 52 weeks Darshan Orna Ltd has traded between ₹2.03 and ₹3.61.
What is the Return on Equity (ROE) of Darshan Orna Ltd?
Darshan Orna Ltd reported a return on equity of 2.38%. Its debt-to-equity ratio is 0.32.
Company Information
Incorporated in 2011, Darshan Orna Ltd is in the business of gold, silver, and diamond ornaments.[1]
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