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Darshan Orna Ltd (539884)

📊 BSE: 539884 🏢 Gems, Jewellery And Watches 📢 Latest filing: 29 Sep 2026

Latest quarterly results (Q1 FY27)

In its latest reported quarter, Q1 FY27, Darshan Orna's revenue was ₹12.5 Cr (-15.7% year on year, -50.8% on the previous quarter), and net profit ₹0.1 Cr (-75.8% year on year); the operating margin was 0.7%.

Q1 FY27 (₹ Cr)	Value	YoY vs Q1 FY26	QoQ
Revenue	₹12.5	-15.7%	-50.8%
Operating profit	₹0.1	-70.9%	-61.2%
Net profit	₹0.1	-75.8%	-53.7%
EPS (₹)	0.01	-50.0%	+0.0%
Operating margin	0.7%	—	—

Full quarterly financials → Results calendar →

📢 Recent Corporate Announcements

Darshan Orna Appoints M/s P H Shah & Co. as Statutory Auditor for a 5-Year Term

🟡 NEUTRAL ⭐ 3/10

ROUTINE 📅 29 Sep 2026, 06:49 PM

Darshan Orna Limited announced that shareholders approved the appointment of M/s P H Shah and Co. (FRN: 0115464W) as Statutory Auditors at the Annual General Meeting held on September 25, 2026. The appointment is for a tenure of five consecutive financial years, covering FY 2026-27 through FY 2030-31 (from April 1, 2026, to March 31, 2031). The company operates in the gems and jewellery segment with a market capitalization of Rs 21 Cr and TTM revenue of Rs 59 Cr.

Appointment of M/s P H Shah and Co. approved for a 5-year term from FY 2026-27 to FY 2030-31
Term spans 5 consecutive financial years from 01.04.2026 to 31.03.2031
Shareholder approval granted at the AGM on September 25, 2026
Auditor is an Ahmedabad-based Chartered Accountancy firm founded in 1996

💡 Track the upcoming quarterly financial results for audit opinions or qualification notes from the newly appointed statutory auditors.

Rs 5.09 Lakhs PAT; Darshan Orna reports 76% YoY decline in Q1 net profit

🔴 NEGATIVE ⭐ 6/10

EARNINGS 📅 08 Aug 2026, 01:19 PM

Darshan Orna reported a weak performance for Q1 FY27 (quarter ended June 30, 2026), with revenue declining 15.6% YoY to Rs 12.47 Cr. Net profit saw a sharp contraction of 76.3% YoY, falling to just Rs 5.09 Lakhs from Rs 21.48 Lakhs in the year-ago period. Sequentially, revenue halved from the Rs 25.32 Cr reported in the March 2026 quarter. The company continues to operate on razor-thin margins, with a profit before tax of only Rs 5.99 Lakhs on a revenue base exceeding Rs 12 Cr.

Revenue from operations decreased 15.6% YoY to Rs 1,246.69 Lakhs (Rs 12.47 Cr).
Net profit plummeted 76.3% YoY to Rs 5.09 Lakhs from Rs 21.48 Lakhs.
Total expenses consumed 99.5% of total revenue, standing at Rs 1,240.70 Lakhs.
Earnings per share (EPS) fell to Rs 0.01 from Rs 0.04 in the corresponding quarter last year.
Quarterly revenue represents approximately 22.7% of the company's TTM revenue of Rs 55 Cr.

💡 Investors should monitor the company's ability to recover revenue to the Rs 25 Cr+ levels seen in previous quarters to achieve better operating leverage, as current margins provide almost no safety buffer.

₹5.09 Lakh Q1 Profit: Darshan Orna Reports 76% YoY Profit Decline and 15.6% Revenue Drop

🔴 NEGATIVE ⭐ 7/10

EARNINGS 📅 08 Aug 2026, 01:10 PM

Darshan Orna reported a weak set of Q1 FY27 results with revenue declining 15.6% YoY to ₹12.47 Cr. Net profit saw a sharp contraction of 76.3% YoY, falling to just ₹5.09 Lakhs from ₹21.48 Lakhs in the year-ago period. Sequentially, the performance was even more concerning, with revenue halving from ₹25.32 Cr in Q4 FY26. The company continues to operate on razor-thin margins, with Profit Before Tax (PBT) representing only 0.48% of total revenue.

Revenue from operations decreased 15.6% YoY to ₹12.47 Cr compared to ₹14.78 Cr in June 2025.
Net profit plunged 76.3% YoY to ₹5.09 Lakhs from ₹21.48 Lakhs.
Total expenses consumed 99.5% of total revenue, standing at ₹12.41 Cr for the quarter.
Sequential revenue (QoQ) dropped by 50.7% from ₹25.32 Cr in the March 2026 quarter.
Earnings Per Share (EPS) declined to ₹0.01 from ₹0.04 in the corresponding quarter of the previous year.

💡 Investors should monitor the company's ability to stabilize its top-line in the upcoming quarters, as the current margin profile (PBT < 0.5%) leaves the company highly vulnerable to even minor increases in raw material costs or administrative expenses.

Darshan Orna Board Meeting on August 08, 2026, to Approve Q1 FY27 Results

🟡 NEUTRAL ⭐ 2/10

BOARD_MEETING 📅 05 Aug 2026, 06:42 PM

Darshan Orna Ltd has scheduled a board meeting for August 08, 2026, to consider and approve the unaudited standalone financial results for the quarter ended June 30, 2026. This is a routine regulatory filing for a micro-cap company with a market capitalization of Rs 25 Cr. The company operates in the Gems and Jewellery sector with a TTM revenue of Rs 55 Cr but faces challenges with extremely thin operating margins (0.0% TTM). Investors will be looking for stability in revenue, which fluctuated between Rs 6.31 Cr and Rs 25.07 Cr in recent quarters.

Board meeting scheduled for August 08, 2026, to approve Q1 FY27 results
Trading window closed from July 01, 2026, until 48 hours after results announcement
Company reported TTM revenue of Rs 55 Cr against a small market cap of Rs 25 Cr
Operating profit margin (OPM) remains critical at 0.0% on a TTM basis
Promoter holding remains stable at 34.17% as of March 2026

💡 Monitor the financial results on August 08, 2026, to see if the company can improve its operating margins and sustain the higher revenue levels seen in the December 2025 quarter (Rs 25.07 Cr).

Resignation of Company Secretary and Compliance Officer Shivani Joshi

🟡 NEUTRAL ⭐ 3/10

MANAGEMENT 📅 24 Jul 2026, 06:21 PM

Darshan Orna Ltd has announced the resignation of Mrs. Shivani Joshi from the dual role of Company Secretary and Compliance Officer, effective July 23, 2026. The resignation was cited as being for personal reasons. As a micro-cap company with a market capitalization of ₹26 crore, this is a routine administrative change. The company is now required to appoint a successor to maintain regulatory compliance under SEBI LODR guidelines.

Mrs. Shivani Joshi (ACS 49742) resigned effective from the close of business hours on July 23, 2026.
The resignation letter was submitted on July 23, 2026, and formally intimated to the exchange on July 24, 2026.
The company operates with a small financial base, reporting TTM revenue of ₹55 crore and a market cap of ₹26 crore.
The role of Compliance Officer is a mandatory requirement under Regulation 6(1) of SEBI LODR Regulations.

💡 Investors should watch for the announcement of a new Company Secretary and Compliance Officer to ensure the company remains compliant with exchange filing requirements.

₹26 Cr M-Cap: Darshan Orna Announces Resignation of Company Secretary

🟡 NEUTRAL ⭐ 4/10

MANAGEMENT 📅 24 Jul 2026, 04:43 PM

Darshan Orna Ltd has announced the resignation of Mrs. Shivani Joshi from the position of Company Secretary and Compliance Officer, effective July 23, 2026. The resignation is attributed to personal reasons. As a Key Managerial Personnel (KMP) in a small-cap company with a market capitalization of ₹26 Cr, her departure requires the board to appoint a successor to maintain regulatory compliance. The company currently operates with a TTM revenue of ₹55 Cr and a thin net profit of ₹1 Cr.

Resignation of Mrs. Shivani Joshi (ACS 49742) effective from the close of business hours on July 23, 2026.
The company has a small market capitalization of ₹26 Cr and a TTM revenue of ₹55 Cr.
The resignation was formally submitted via a letter dated July 23, 2026, and disclosed to the exchange on July 24, 2026.
The company's Operating Profit Margin (OPM) is currently at 0.0% as per the latest TTM data.

💡 Monitor future filings for the appointment of a new Company Secretary and Compliance Officer to ensure the company adheres to SEBI LODR requirements.

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