PESB research view: HoldStock
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PESB recommendation · Stock
₹202.45▼ 2.40 (−1.17%) todayNSE · as of 3 Nov 2026, 5:30 am
Recommended on 14 Oct 2026 by Aman Bansal
Our recommendation read against today's market data.
Deepa jewellers is a designer, supplier and processor of hallmarked gold jewellery mainly hailing from the south of India. With a varied range of products, a job-work service catering to customer personalization and specialization in CNC cut bangles, the company was incorporated in 2016 and has a diversified portfolio and a long-standing relationship with the craftsmen and suppliers.
Deepa Jewellers is well-positioned to sustain strong growth, with revenue/EBITDA/PAT expected to register a CAGR of 43%/42%/43% over FY26-29E, driven by expansion into new geographies, increasing contribution from studded jewellery and job-work, and scaling up of in-house manufacturing. New sales offices in Chennai and Bengaluru, alongside growth among existing retail-chain customers, provide additional growth levers. Management targets an increase in studded jewellery contribution to 75% and expects EBITDA margin expansion of 80-120 bps over the next four to six quarters, supporting sustained earnings growth.
Research by Pune E-Stock Broking Ltd., SEBI Research Analyst Reg. No. INH000018197. Investments in the securities market are subject to market risks; read all related documents carefully before investing. Past performance is not indicative of future returns.
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