DARSHANORNA
Darshan Orna financials
- Market cap
- ₹23 Cr
Quarterly results
Q1 FY27: revenue down 15.6%, net profit down 76.2% against the same quarter last year.
| Line item | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 2 | 2 | 8 | 15 | 6 +155% | 25 +945% | 25 +201% | 12 −16% |
| EBITDA | 0 | 0 | -1 | 0 | 0 +50% | 0 −36% | 0 +130% | 0 −71% |
| Net profit | 0 | 0 | 0 | 0 | 0 +9% | 0 −18% | 0 +175% | 0 −76% |
How to read this
₹ crore, as filed. The percentage beside a figure is the change against the same quarter a year earlier — never the quarter before, which would make every seasonal business look like it collapses and booms each year.
Performance −15.8% 1Y
1Y: ₹2.66 on 9 Sept 2025 → ₹2.24. High ₹3.43 (24 Nov 2025), low ₹2.14 (1 Sept 2026).
Financials, as filed
Revenue grew 85.1% a year over 2 years, FY24 to FY26. Operating margin widened to 1.3%.
| Year ending | FY24 | FY25 | FY26 |
|---|---|---|---|
| Revenue | ₹21 Cr | ₹22 Cr | ₹71 Cr |
| Operating profit | ₹-0 Cr | ₹-0 Cr | ₹1 Cr |
| Operating margin | -1.2% | -0.8% | 1.3% |
| Interest | ₹0 Cr | ₹0 Cr | ₹0 Cr |
| Depreciation | ₹0 Cr | ₹0 Cr | ₹0 Cr |
| Net profit | ₹3 Cr | ₹0 Cr | ₹1 Cr |
| Net margin | 12.9% | 2.2% | 0.9% |
| Cash from operations | ₹-3 Cr | ₹-2 Cr | — |
| Free cash flow | ₹-3 Cr | ₹-2 Cr | — |
| ROCE | -1.5% | 3.6% | — |
How to read this
From the company's own filings. Margins are computed from the filed sums; a year with an incomplete quarter is left blank rather than estimated.
Balance sheet
| Year ending | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|---|
| Equity capital | ₹10 Cr | ₹10 Cr | ₹10 Cr | ₹10 Cr | ₹10 Cr | ₹10 Cr |
| Reserves | ₹0 Cr | ₹2 Cr | ₹3 Cr | ₹3 Cr | ₹9 Cr | ₹10 Cr |
| Borrowings | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹4 Cr | ₹5 Cr |
| Other liabilities | ₹3 Cr | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹2 Cr | ₹1 Cr |
| Total liabilities | ₹13 Cr | ₹12 Cr | ₹13 Cr | ₹13 Cr | ₹25 Cr | ₹26 Cr |
| Fixed assets | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹0 Cr |
| Capital work in progress | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹0 Cr |
| Investments | ₹3 Cr | ₹2 Cr | ₹2 Cr | ₹2 Cr | ₹6 Cr | ₹5 Cr |
| Other assets | ₹10 Cr | ₹11 Cr | ₹11 Cr | ₹12 Cr | ₹19 Cr | ₹21 Cr |
| Total assets | ₹13 Cr | ₹12 Cr | ₹13 Cr | ₹13 Cr | ₹25 Cr | ₹26 Cr |
How to read this
As filed each year. A line the company does not report — deposits for a non-lender, for instance — is left out rather than shown as a row of dashes.
Who owns it
As disclosed at Jun 2026
Since Jun 2025, promoters added +3.77 pp while the public trimmed −3.77 pp. The shareholder count shrank 10% to 22,761.
- Promoters
- 34.2%
- Public
- 65.8%
Since Jun 2025
- Promoters +3.77 pp
- Public −3.77 pp
How it drifted, 12 quarters
Over this window the public went from 55.6% to 65.8% — +10.2 pp.
Ownership split by quarter, oldest first. Sep '23: Promoters 44.4%, Public 55.6%.Dec '23: Promoters 44.4%, Public 55.6%.Mar '24: Promoters 44.4%, Public 55.6%.Jun '24: Promoters 42.4%, Public 57.6%.Sep '24: Promoters 41.7%, Public 58.3%.Dec '24: Promoters 30.4%, Public 69.6%.Mar '25: Promoters 30.4%, Public 69.6%.Jun '25: Promoters 30.4%, Public 69.6%.Sep '25: Promoters 30.4%, Public 69.6%.Dec '25: Promoters 34.2%, Public 65.8%.Mar '26: Promoters 34.2%, Public 65.8%.Jun '26: Promoters 34.2%, Public 65.8%.
Who bought this quarter
since Mar 2026
Disclosed holders that added to a position or appeared on the register for the first time, biggest addition first.
- Vivid Mercantile Limited +0.22 pp 18.68% held
The same filing shows 0 holders trimming and 0 off the list — both are in the register beside this.
Who is on the register
Named in the Jun 2026 filing
Every holder of Darshan Orna Limited above SEBI's 1% disclosure line, and what changed since Mar 2026.
| Holder | Stake | Change |
|---|---|---|
| Kriyansh Gold Private Limited | 18.97% | unchanged |
| Vivid Mercantile Limited | 18.68% | +0.22 pp |
| Mahendrabhai Ramniklal Shah | 11.43% | unchanged |
| Veeram Vendors Private Limited | 11.08% | unchanged |
| Priha Gold Ornaments Private Limited | 4.97% | unchanged |
| Veeram Barter Private Limited | 3.66% | unchanged |
| Yash Bansal | 1.18% | unchanged |
| Arunaben Mahendrakumar Shah | 1.06% | unchanged |
| Sanjaykumar Ramniklal Sheth | 0.75% | unchanged |
| Ritesh Mahendrabhai Sheth | 0.65% | unchanged |
| Mahendra R Shah | 0.56% | unchanged |
| Sheth Siddhi Mahendra Kumar | 0.47% | unchanged |
A holder disappearing from this list has fallen below the 1% line — it is not necessarily a sale. Percentages are of total shares, as disclosed in the company's own filing. Who was buying across the market this quarter.
Learn to analyse Darshan Orna Limited
Guides on how to read this kind of business and the numbers that matter.