---
title: "Pushpa Jewellers Ltd (PUSHPA) — Share Price, Financials & Analysis"
symbol: "PUSHPA"
company: "Pushpa Jewellers Ltd"
canonical: "https://tapetide.com/stocks/PUSHPA"
isin: "INE154801018"
nse_symbol: "PUSHPA"
sector: "Consumer Goods"
industry: "Jewellery & Watches"
market_cap_cr: 261.85
generated_at: "2026-09-13T18:33:20.158Z"
---

# Pushpa Jewellers Ltd (PUSHPA)

Canonical page: https://tapetide.com/stocks/PUSHPA

## Company

- **NSE Symbol:** PUSHPA
- **ISIN:** INE154801018
- **Sector:** Consumer Goods
- **Industry:** Jewellery & Watches
- **Macro Sector:** Consumer Discretionary
- **Stock Type:** EQUITY
- **Listed Since:** 2025-07-07
- **Face Value:** ₹10
- **F&O Eligible:** No
- **Website:** pushpajeweller.com

## About

Incorporated in 2009, Pushpa Jewellers Ltd is in the business as a wholesale gold jewellery manufacturer.[1]

## Latest Price

- **Price:** ₹110
- **Change:** +0.9 (+0.82%)
- **Open:** ₹107
- **Day High:** ₹112
- **Day Low:** ₹107
- **Previous Close:** ₹109.1
- **Volume:** 32000
- **As Of:** 2026-09-11T09:31:19+00:00

## Key Fundamentals

Observed at 2026-09-11T04:50:32.642989Z.

- **Market Cap:** ₹261.85 Cr
- **Classification:** SME
- **P/E (reported):** 10.2
- **Book Value:** ₹63.75
- **Price to Book:** 1.71
- **Dividend Yield:** 0%
- **ROE:** 38.34%
- **ROCE:** 45.07%
- **Debt to Equity:** 0.12
- **Revenue (yearly):** ₹418.39 Cr
- **Net Income:** ₹26.14 Cr
- **EBITDA:** ₹36.97 Cr
- **52-Week High:** ₹148.75
- **52-Week Low:** ₹81.15
- **RSI (14):** 45.71

## Tapetide Score

- **Score:** 56 / 100
- **Score date:** 2026-09-04
- **Archetype:** Trend Ahead of Fundamentals
- **What it means:** The price trend is running ahead of what the financials currently support. Moves like this depend on the fundamentals catching up; check what would have to be true for that.
- **Pillar profile:** Quality: Average · Valuation: Expensive · Momentum: Rising
- **Percentile:** 74.1 (of 4473 scored stocks)
- **Confidence:** 100%
- **Data coverage:** 100%

| Pillar | Score | Weight |
| --- | --- | --- |
| financial health | 87.56 | 9% |
| growth | 91.24 | 9% |
| momentum | 79.74 | 12% |
| ownership | 50.19 | 24% |
| quality | 51.2 | 22% |
| valuation | 29.55 | 24% |

The Tapetide Score is decision-support only, not investment advice.

## Key Insights

### Strengths

- Company has delivered good profit growth of 72.2% CAGR over last 5 years
- Company has a good return on equity (ROE) track record: 3 Years ROE 34.3%

### Weaknesses

- Though the company is reporting repeated profits, it is not paying out dividend
- Working capital days have increased from 72.3 days to 117 days

## Growth Rates

| Metric | QoQ | 1Y | 3Y | 5Y |
| --- | --- | --- | --- | --- |
| cash flow growth | — | -98.29% | 7.14% | -80.52% |
| ebitda margin growth | -69.52% | -22.65% | 12.09% | 3.89% |
| net income growth | -74.67% | 17.22% | 49% | 72% |
| revenue growth | 17.44% | 48.73% | 36% | 53% |
| roce | — | -4.88% | 0.11% | 44.41% |
| roe | — | 1.86% | 37.39% | 78.41% |

## Financial Statements

### Quarterly Results

All figures in ₹ crore unless the row name says otherwise.

| Item | Sep 2024 | Mar 2025 | Sep 2025 | Mar 2026 |
| --- | --- | --- | --- | --- |
| Sales | 144 | 137 | 171 | 247 |
| Expenses | 131 | 118 | 155 | 225 |
| Operating Profit | 14 | 18 | 16 | 22 |
| OPM % | 9 | 13 | 9 | 9 |
| Other Income | 0 | 0 | 1 | -1 |
| Interest | 1 | 1 | 2 | 1 |
| Depreciation | 0 | 0 | 0 | 1 |
| Profit before tax | 13 | 17 | 15 | 20 |
| Tax % | 25 | 25 | 25 | 27 |
| Net Profit | 9 | 13 | 11 | 15 |
| EPS in Rs | 4.98 | 6.84 | 4.55 | 6.13 |

### Profit & Loss

All figures in ₹ crore unless the row name says otherwise.

| Item | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
| --- | --- | --- | --- | --- | --- | --- |
| Sales | 49 | 108 | 166 | 255 | 281 | 418 |
| Expenses | 46 | 99 | 153 | 235 | 249 | 380 |
| Operating Profit | 3 | 9 | 13 | 20 | 32 | 38 |
| OPM % | 6 | 8 | 8 | 8 | 11 | 9 |
| Other Income | 0 | 0 | 0 | 0 | 0 | 0 |
| Interest | 0 | 0 | 1 | 1 | 2 | 2 |
| Depreciation | 0 | 0 | 0 | 1 | 1 | 1 |
| Profit before tax | 2 | 9 | 12 | 18 | 30 | 35 |
| Tax % | 28 | 29 | 32 | 25 | 25 | 26 |
| Net Profit | 2 | 6 | 8 | 14 | 22 | 26 |
| EPS in Rs | 76.03 | 265.03 | 349.66 | 583.33 | 11.82 | 10.69 |
| Dividend Payout % | 0 | 0 | 0 | 0 | 0 | 0 |

### Balance Sheet

All figures in ₹ crore unless the row name says otherwise.

| Item | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
| --- | --- | --- | --- | --- | --- | --- |
| Equity Capital | 0.23 | 0.23 | 0.23 | 0.23 | 19 | 24 |
| Reserves | 8 | 14 | 22 | 36 | 39 | 130 |
| Borrowings | 2 | 4 | 15 | 8 | 22 | 18 |
| Other Liabilities | 1 | 4 | 6 | 7 | 11 | 5 |
| Total Liabilities | 12 | 22 | 43 | 51 | 91 | 178 |
| Fixed Assets | 1 | 1 | 10 | 11 | 16 | 26 |
| CWIP | 0 | 0 | 0 | 0 | 0 | 0 |
| Investments | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Assets | 10 | 20 | 33 | 41 | 75 | 151 |
| Total Assets | 12 | 22 | 43 | 51 | 91 | 178 |

### Cash Flow

All figures in ₹ crore unless the row name says otherwise.

| Item | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
| --- | --- | --- | --- | --- | --- | --- |
| Cash from Operating Activity | 1 | 0 | 0 | 9 | 0 | -51 |
| Cash from Investing Activity | -1 | 0 | -11 | 0 | -10 | -10 |
| Cash from Financing Activity | 1 | 0 | 10 | -7 | 12 | 65 |
| Net Cash Flow | 1 | 0 | 0 | 2 | 2 | 3 |
| Free Cash Flow | 0 | 0 | -9 | 8 | -6 | -63 |
| CFO/OP | 46 | 14 | 19 | 72 | 23 | -88 |

### Ratios

| Item | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
| --- | --- | --- | --- | --- | --- | --- |
| Debtor Days | 5 | 11 | 13 | 7 | 26 | 31 |
| Inventory Days | 72 | 57 | 60 | 45 | 54 | 91 |
| Days Payable | 2 | 1 | 4 | 2 | 3 | 1 |
| Cash Conversion Cycle | 76 | 68 | 69 | 50 | 77 | 120 |
| Working Capital Days | 68 | 46 | 35 | 41 | 59 | 117 |
| ROCE % | — | 63 | 45 | 48 | 50 | 30 |

## Shareholding Pattern

### Quarterly

| Category | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
| --- | --- | --- | --- | --- | --- |
| Promoters | 100% | 72.29% | 72.29% | 72.29% | 72.67% |
| FIIs | 0% | 2.36% | 1.51% | 1.51% | 1.17% |
| DIIs | 0% | 0% | 1.61% | 1.61% | 1.91% |
| Government | 0% | 0% | 0% | 0% | 0% |
| Public | 0% | 17.06% | 17.35% | 17.35% | 17.99% |
| Others | 0% | 8.28% | 7.23% | 7.23% | 6.26% |
| No. of Shareholders | 7 | 1989 | 1928 | 1928 | 1704 |

## Technical Indicators

Derived from daily closing prices and recomputed each trading session; values move with the market.

- **Overall Signal:** Strong Sell
- **Buy / Neutral / Sell:** 1 / 7 / 11

### Moving Averages — summary: **Strong Sell**

| Indicator | Value | Signal |
| --- | --- | --- |
| SMA (10) | 111.34 | Sell |
| EMA (10) | 111.34 | Sell |
| SMA (20) | 112.61 | Sell |
| EMA (20) | 111.72 | Sell |
| SMA (50) | 110.52 | Sell |
| EMA (50) | 111.61 | Sell |
| SMA (100) | 114.84 | Sell |
| EMA (100) | 111.6 | Sell |
| SMA (200) | 108.5 | Buy |
| EMA (200) | 114.6 | Sell |

### Oscillators — summary: **Sell**

| Indicator | Value | Signal |
| --- | --- | --- |
| RSI (14) | 47.2 | Neutral |
| MACD (12,26,9) | -0.23 | Sell |
| Stochastic (14,3,3) | 39.91 | Neutral |
| ADX (14) | 15.66 | Neutral |
| Williams %R (14) | -66.37 | Neutral |
| ATR (14) | 4.3 | High Volatility |
| ROC (12) | -3.51 | Sell |
| Stoch RSI (14) | 45.33 | Neutral |
| UO (7,14,28) | 58.65 | Neutral |

## Filings & Documents

### Other Documents

| Date | Document |
| --- | --- |
| 9 February 2026 - Monitoring agency report for quarter ended Dec 31, 2025; IPO proceeds Rs.98.65 Crore; no deviations. | [Monitoring Agency Report 9 February 2026 - Monitoring agency report for quarter ended Dec 31, 2025; IPO proceeds Rs.98.65 Crore; no deviations.](https://nsearchives.nseindia.com/corporate/PUSHPAJEWELLERSIPO_09022026164319_PUSHPA_INTIMATION_MA_REPORT_SIGNED.pdf) |
| 9 April 2026 - Pushpa Jewellers rectifies 08 Apr 2026 board outcome shareholding figures for Arun Saboo. | [Corrigendum 9 April 2026 - Pushpa Jewellers rectifies 08 Apr 2026 board outcome shareholding figures for Arun Saboo.](https://nsearchives.nseindia.com/corporate/PUSHPAJEWELLERSIPO_09042026183853_Pushpa_Corrigendum_Board_Meeting.pdf) |
| 8 April 2026 - Board approved 20 lakh warrants at ₹102 each, raising up to ₹20.4 crore; EGM on May 6, 2026. | [Outcome of Board Meeting 8 April 2026 - Board approved 20 lakh warrants at ₹102 each, raising up to ₹20.4 crore; EGM on May 6, 2026.](https://nsearchives.nseindia.com/corporate/PUSHPAJEWELLERSIPO_08042026184748_PUSHPA_Outcome_of_Board_Meeting.pdf) |
| 8 April 2026 - Board approved ₹20.4 crore preferential warrants, raised authorised capital, and set EGM for May 6, 2026. | [Issue of Securities 8 April 2026 - Board approved ₹20.4 crore preferential warrants, raised authorised capital, and set EGM for May 6, 2026.](https://nsearchives.nseindia.com/corporate/PUSHPAJEWELLERSIPO_08042026195122_PUSHPA_Outcome_of_Board_Meeting.pdf) |
| 8 April 2026 - Board approved ₹20.4 crore preferential warrants, raised authorised capital to ₹27 crore; EGM on May 6, 2026. | [Increase in Authorised Capital 8 April 2026 - Board approved ₹20.4 crore preferential warrants, raised authorised capital to ₹27 crore; EGM on May 6, 2026.](https://nsearchives.nseindia.com/corporate/PUSHPAJEWELLERSIPO_08042026195346_PUSHPA_Outcome_of_Board_Meeting.pdf) |
| 7 May 2026 - EGM voting: warrants issue rejected; capital increase and borrowing limits up to Rs.100 crore approved on May 6, 2026. | [Shareholders meeting 7 May 2026 - EGM voting: warrants issue rejected; capital increase and borrowing limits up to Rs.100 crore approved on May 6, 2026.](https://nsearchives.nseindia.com/corporate/PUSHPAJEWELLERSIPO_07052026190003_PUSHPA_INTIMATION_SCRUTINISER_AND_VOTING_RESULT.pdf) |
| 7 Aug - Brickwork Ratings reported no deviation in Q1 FY27 IPO proceeds use; Vijayawada showroom operations ongoing. | [Monitoring Agency Report 7 Aug - Brickwork Ratings reported no deviation in Q1 FY27 IPO proceeds use; Vijayawada showroom operations ongoing.](https://nsearchives.nseindia.com/corporate/PUSHPAJEWELLERSIPO_07082026111308_PUSHPA_MA_INTIMATION_SIGNED.pdf) |
| 6 May 2026 - EGM on 6 May 2026 approved higher authorised capital, preferential warrants and borrowing limit up to Rs100 crore. | [Shareholders meeting 6 May 2026 - EGM on 6 May 2026 approved higher authorised capital, preferential warrants and borrowing limit up to Rs100 crore.](https://nsearchives.nseindia.com/corporate/PUSHPAJEWELLERSIPO_06052026183226_PUSHPA_EGM_SUMMARY_OF_PROCEEDINGS.pdf) |
| 4 May 2026 - Corrigendum to May 6, 2026 EGM notice clarifies preferential warrant issue price at ₹102. | [Corrigendum 4 May 2026 - Corrigendum to May 6, 2026 EGM notice clarifies preferential warrant issue price at ₹102.](https://nsearchives.nseindia.com/corporate/PUSHPAJEWELLERSIPO_04052026172959_Corrigendum_to_EGM_notice_Pushpa.pdf) |
| 4 February 2026 - Clarifies Nov 5, 2025 NEAPS filings; monitoring agency exemption; IPO proceeds Rs98.65 crore; MA report Nov 11, 2025. | [Reply to Clarification- Financial results 4 February 2026 - Clarifies Nov 5, 2025 NEAPS filings; monitoring agency exemption; IPO proceeds Rs98.65 crore; MA report Nov 11, 2025.](https://nsearchives.nseindia.com/corporate/PUSHPAJEWELLERSIPO_08012026170056_REPLY_PUSHPA_signed.pdf) |

### Annual Reports

| Date | Document |
| --- | --- |
| from nse | [Annual Report 2026 from nse](https://archives.nseindia.com/annual_reports/SME_AR_31114_PUSHPA_2025_2026_A_19331739_02092026165754.pdf) |
| from nse | [Annual Report 2025 from nse](https://archives.nseindia.com/annual_reports/SME_AR_27888_PUSHPA_2024_2025_A_16999456_29082025173319.pdf) |

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Provenance differs by section. Financial statements, shareholding and filings are as reported in company disclosures to NSE/BSE/SEBI. Price, volume and 52-week levels are exchange market data. Technical indicators are computed by Tapetide from daily closing prices. The Tapetide Score is Tapetide's own analysis. Analyst ratings are third-party estimates, not company statements. All figures are for research and information only and are not investment advice. Generated 2026-09-13T18:33:20.158Z.