Deepa Jewellers Limited · NSE:DEEPA
Deepa Jewellers — Q2/H1 FY27 Earnings Presentation
34 slides from Deepa Jewellers's earnings presentation, Oct 26, 2026
Slide 1: Cover letter to stock exchanges
Date: 26.10.2026 To, To, BSE Limited National Stock Exchange of India Limited Department of Corporate Services Exchange Plaza, 5th Floor, Pheroze Jeejeebhoy Towers, Dalal Plot No. C/1, G Block, Street, Bandra-Kurla Complex, Mumbai – 400051 Mumbai –400001 BSE Scrip Code: 544903 NSE Symbol: DEEPA Dear
Slide 2: Investor Presentation Q2/H1-FY27
Investor Presentation Q2/H1-FY27 1
Slide 3: Snapshot
Snapshot 25+ 13 States & 1 UT 110+ Year of Presence SKUs Promoter experience 24,000+ 370+ 15+ Designs Customers In-house designer team 40+ 28% 68% Highly Skilled Karigars Network 3-Year Revenue CAGR* 3-Year PAT CAGR* *Revenue CAGR is calculated over the three-year period from FY23 to FY26. 2
Slide 4: Q2/H1-FY27 Performance Highlights
Q2/H1-FY27 Performance Highlights
Slide 5: Financial Highlights
Financial Highlights Q2-FY27 H1-FY27 Revenue from EBITDA EBITDA Margins Revenue from EBITDA EBITDA Margins Operations Operations INR 6,256 Mn INR 453 Mn 7.24% INR 10,567 Mn INR 840 Mn 7.95% 24.6% YoY 17.1% YoY (47) Bps YoY 30.1% YoY 24.3% YoY (37) Bps YoY PAT PAT Margins Diluted EPS PAT PAT Margins
Slide 6: Operational Highlights
Operational Highlights • During the quarter, the company commenced operations at the in-house manufacturing facility in Hyderabad, strengthening internal manufacturing capabilities. • Revenue grew 24.6% YoY to INR 6,256 Mn in Q2 FY27 and 30.1% YoY to INR 10,567 Mn in H1 FY27, with quarterly growth m
Slide 7: Q2-FY27 Segmental Performance
Q2-FY27 Segmental Performance Total Operational Revenue (INR Mn) Processing & Manufacturing Job Work Service Revenue (INR Mn) Revenue (INR Mn) 6,256 6,198 63 57 5,021 4,971 4,311 4,246 45 Q2-FY26 Q1-FY27 Q2-FY27 Q2-FY26 Q1-FY27 Q2-FY27 Q2-FY26 Q1-FY27 Q2-FY27 Total Volume (Kgs) Processing & Manufact
Slide 8: H1-FY27 Segmental Performance
H1-FY27 Segmental Performance Total Operational Revenue (INR Mn) Processing & Manufacturing Job Work Service Revenue (INR Mn) Revenue (INR Mn) 10,567 10,444 120 8,122 8,024 89 H1-FY26 H1-FY27 H1-FY26 H1-FY27 H1-FY26 H1-FY27 Total Volume (Kgs) Processing & Manufacturing Job Work Service Volume (Kgs)
Slide 9: Quarterly Standalone Income Statement
Quarterly Standalone Income Statement (INR Mn) Q2-FY27 Q2-FY26 YoY Q1-FY27 QoQ Operational Revenue 6,256 5,021 24.6% 4,311 45.1% Total Expenses 5,803 4,634 25.2% 3,924 47.9% EBITDA 453 387 17.1% 387 17.1% EBITDA Margins (%) 7.24% 7.71% (47) Bps 8.98% (174) Bps Other Income 5 - NA - NA Depreciation 6
Slide 10: Half Yearly Standalone Income Statement
Half Yearly Standalone Income Statement (INR Mn) H1-FY27 H1-FY26 YoY Operational Revenue 10,567 8,122 30.1% Total Expenses 9,727 7,446 30.6% EBITDA 840 676 24.3% EBITDA Margins (%) 7.95% 8.32% (37) Bps Other Income 5 - NA Depreciation 10 2 NA Finance Cost 45 23 95.7% PBT 790 651 21.4% Tax 149 165 (9
Slide 11: Company Overview
DEEPA JEWELLERS LIMITED
Slide 12: Company Overview
Company Overview Incorporated in 2016 by Mr. Ashish Agarwal and Mrs. Seema Agarwal, Deepa Jewellers Ltd. is an organised B2B designer, processor and supplier of Revenue from Operations (INR Mn) & EBITDA Margin (%) hallmarked gold jewellery 19,267 Specialises in traditional gold waist belts (Vaddanam
Slide 13: History and Timeline
History and Timeline 2025 • Ordered machinery for setting up first in-house manufacturing facility 2016 2022 • Expanded geographical market presence in Vijayawada, Andhra Incorporated as organized Crossed annual turnover Pradesh through the establishment B2B designer, processor, and of INR 5,000 mil
Slide 14: Board of Directors & Key Managerial Personnel
Board of Directors & Key Managerial Personnel 25+ 05+ 25+ 10+ 25+ 12+ Ashish Agarwal Dev Agarwal Seema Agarwal Komal Agarwal Grandhi Vittal Sirisha Chintapalli Promoter & Chairman and Promoter and Whole-Time Promoter and Non-Executive Non- Independent Director | 10+ Independent Director | 25+ Indepe
Slide 15: Well established customer base with long-standing relationships
Well established customer base with long-standing relationship with Jewellery retail chains & standalone stores Growing customer base anchored by high-value retail chain accounts 122 customers associated for 5+ years shows customer stickiness # No. of Customers Retail Chain Revenue % of Total % Cust
Slide 16: Strong Presence in Southern Market
Strong Presence in Southern Market Customer network spans across 13 States and 1 Union Territory in India Geographical Revenue Breakup (%) 0.51% 0.45% 1.67% 1.74% 99.49% 99.55% 98.33% 98.26% Delhi Rajasthan Uttar Pradesh FY 23 FY 24 FY 25 FY 26 Assam Bihar South India States Other Indian state West
Slide 17: Business Overview
Business Overview
Slide 18: Jewellery Manufacturing and Processing Business
Jewellery Manufacturing and Processing Business Revenue from Processing & Manufacturing (INR Mn) Vaddanam (waist belts) • Traditional gold waist ornament worn by 19,074 women in South India during weddings & other auspicious occasions • A culturally significant waist ornament, driving 12,954 sustain
Slide 19: Job Work Services
Job Work Services Provides jewellery processing services to customers using customer-supplied gold, converting raw Revenue from Job Work (INR Mn) material into ready-to-sell finished jewellery as per specified designs and requirements. 172 Generates fee-based processing income, with the Company unde
Slide 20: Diverse product portfolio with varied ranges and designs
Diverse product portfolio with varied ranges, designs & specialization in Vaddanam & CNC machine cut bangles Continuously Evolving Product portfolio to meet evolving consumer demands Vaddanam CNC machine Gents kada (waist belts) cut bangles Vanky Gundlamala Kangan (armlet) Necklace 19
Slide 21: Operations: End-to-end manufacturing workflow
Operations: End-to-end manufacturing workflow from procurement to billing and dispatch Raw Material Procurement Design & Order Booking Gold bullion Two sales channels 15-member In-house RBI registered bullion bank · Independent bullion dealers · design team • Ready stock: Selection from Import throu
Slide 22: Strategic Overview
DEEPA JEWELLERS LIMITED
Slide 23: Key Strengths
Key Strengths Diverse product portfolio with varied ranges, designs & specialization in Vadannam & CNC machine cut bangles Strong presence in southern market and pan India presence through Retail chain. Well established customer base with long-standing relationship with jewellery retail chains & sta
Slide 24: Growth Strategy & Expansion Roadmap
Growth Strategy & Expansion Roadmap Established Manufacturing Facility Expand Southern India Footprint Commenced operations from its facility admeasuring ▪ Established a new sales office in Vijayawada, AP 6,696 sq ft at Hyderabad in September 2026 ▪ Chennai, Bangalore & Coimbatore office planned. ▪
Slide 25: Industry Overview
ys DEEPA JEWELLERS LIMITED Industry
Slide 26: Indian Market Overview: Organized B2B Wholesalers
Indian Market Overview: Organized B2B Wholesalers favorably Placed as Consumers Shift to Organized Retail B2B Gems and Jewellery Market Strategic Position of B2B Suppliers in the Value Chain INR billion 7,900-8,200 7,301 B2B Suppliers Downstream Upstream 4,769 3,258 Gold Dealers / 2,133 Manufacturer
Slide 27: Shift to Organized Retail Chains flowing down to Organized B2B Players
Shift to Organized Retail Chains flowing down to Organized B2B Large Scale Players like Deepa Jewellers Outsourced manufacturing dominates in the overall gems B2B Market Dynamics Favour Scalable, Growth-Oriented Players and jewellery industry Small players dominate by volume Vs large players Drivers
Slide 28: South India: Immense Scope of Growth for Organized B2B Suppliers
South India*: Immense Scope of Growth for Organized and Large B2B Suppliers Jewellery consumption by region & South India market outlook Consumer trends: South India Market share of gems and jewellery retail industry by region Consumers in South Indian states buy jewellery during festivals like Pong
Slide 29: Financial Overview
ys DEEPA JEWELLERS LIMITED Financial
Slide 30: Historical Standalone Income Statement
Historical Standalone Income Statement (INR Mn) FY24 FY25 FY26 H1-FY27 Operational Revenue 10,246 13,970 19,267 10,567 Total Expenses 9,888 13,410 17,804 9,727 EBITDA 358 560 1,463 840 EBITDA Margins (%) 3.49% 4.01% 7.59% 7.95% Other Income 12 31 10 5 Depreciation 3 3 7 10 Finance Cost 40 43 63 45 P
Slide 31: Historical Standalone Balance Sheet
Historical Standalone Balance Sheet PARTICULARS (INR Mn) FY24 FY25 FY26 H1-FY27 PARTICULARS (INR Mn) FY24 FY25 FY26 H1-FY27 Assets Equity (a) Equity share capital 41 41 164 192 Non-Current Assets (b) Other equity 885 1,291 2,217 5,133 Property, plant and equipment 8 6 23 55 Total equity 926 1,332 2,
Slide 32: Financial Highlights
Financial Highlights Revenue from Operations (INR Mn) EBITDA (INR Mn) & EBITDA Margin (%) PAT (INR Mn) & PAT Margin (%) 19,267 1,048 1,463 13,970 10,246 10,567 641 840 6.07% 560 406 5.44% 7.59% 7.95% 358 243 2.91% 3.49% 4.01% 2.37% FY24 FY25 FY26 H1-FY27 FY24 FY25 FY26 H1-FY27 FY24 FY25 FY26 H1-FY27
Slide 33: Disclaimer
Disclaimer Deepa Jewellers Limited No representation or warranty, express or implied, is made as to, and no reliance should be placed on, the fairness, accuracy, completeness or correctness of the information or opinions contained in this presentation. Such information and opinions are in all events
Slide 34: Thank You
THANK YOU