WEBSITE BSE:539559 NSE: DEEPAI Inc. Year: 1994 Industry: Diamond & Jewellery My Bucket: Add Stock
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Deep Health AI India Ltd. (DEEPAI)
Important Note: The provided company name "Deep Health AI India Ltd." strongly suggests a business in healthcare technology or artificial intelligence. However, the specified "Sector: Diamond & Jewellery" and "Industry: Diamond & Jewellery" indicates a completely different business focus. This analysis will proceed assuming the company operates in the Diamond & Jewellery sector as explicitly stated, while acknowledging the potential discrepancy with the company name.
1. Business Overview
Assuming Deep Health AI India Ltd. operates in the Diamond & Jewellery sector, its core business would involve the sourcing, designing, manufacturing, and distribution of jewellery products. This typically includes items made from gold, diamonds, other precious stones, and silver. The company would make money through retail sales (via its own stores or franchise models), wholesale distribution to other retailers, and potentially online sales. Revenue is generated from the margin between the cost of raw materials (gold, diamonds) and manufacturing, and the final selling price to consumers or other businesses.
2. Key Segments / Revenue Mix
Without specific company data, typical segments in the Indian Diamond & Jewellery sector include:
Gold Jewellery: Often forms the largest portion, driven by cultural significance and investment value.
Diamond Jewellery: Growing segment, particularly among younger demographics and for special occasions.
Other Precious Stones/Silver Jewellery: Niche segments catering to specific tastes or price points.
Gold/Silver Coins & Bars: Investment products.
The revenue mix would depend on the company's strategic focus (e.g., luxury vs. mass market, traditional vs. contemporary designs, retail vs. wholesale).
3. Industry & Positioning
The Indian Diamond & Jewellery industry is one of the largest globally, characterized by a mix of highly fragmented unorganized players and a growing organized sector. The industry is driven by strong cultural demand (weddings, festivals, gifting) and gold's role as an investment asset. Organized players compete on brand trust, design variety, purity assurance, and retail network. Positioning for a new entrant or mid-sized player would depend on its target demographic (e.g., premium, mass-market, regional focus), design philosophy (traditional, contemporary), and distribution strategy (e-commerce, physical stores). Established players like Titan (Tanishq), Kalyan Jewellers, and Malabar Gold & Diamonds hold significant market share in the organized segment.
4. Competitive Advantage (Moat)
For a company in the Indian Diamond & Jewellery sector, potential moats include:
Brand Trust and Purity Assurance: Critical in a market where consumers are highly sensitive to authenticity and gold purity. A trusted brand commands loyalty and premium pricing.
Extensive Retail Network: A wide presence of physical stores, especially in Tier 2 and Tier 3 cities, can be a significant advantage given the preference for tactile shopping experiences for high-value items.
Design and Craftsmanship: Unique, appealing designs and high-quality craftsmanship can differentiate products and attract specific customer segments.
Supply Chain Integration/Scale: Efficient sourcing of raw materials (diamonds, gold) and large-scale manufacturing can lead to cost advantages.
Customer Relationships/Loyalty Programs: Building long-term relationships through personalized service and loyalty initiatives.
5. Growth Drivers
Rising Disposable Incomes & Urbanization: Drives increased consumer spending on discretionary items like jewellery.
Cultural Significance: Continued strong demand for jewellery during weddings, festivals, and religious occasions.
Shift from Unorganized to Organized Sector: Consumers increasingly prefer branded, certified jewellery with transparent pricing and purity guarantees.
Gold as an Investment: Acts as a hedge against inflation and economic uncertainty.
E-commerce Penetration: Growing online sales channels expand market reach, especially for branded and lightweight jewellery.
Changing Demographics: Younger consumers driving demand for lighter, contemporary designs and diamond jewellery.
6. Risks
Volatility in Precious Metal & Stone Prices: Fluctuations in gold and diamond prices directly impact raw material costs and inventory valuation, affecting margins.
Economic Slowdown: Jewellery sales are highly discretionary; an economic downturn can significantly reduce demand.
Regulatory Changes: Changes in import duties, Goods and Services Tax (GST), हॉलमार्किंग regulations, or sourcing policies can impact business operations and profitability.
Intense Competition: Highly fragmented market with fierce competition from both organized and unorganized players, leading to pricing pressures.
Changing Consumer Preferences: Shifts in fashion trends, acceptance of lab-grown diamonds, or preference for lighter jewellery can necessitate constant adaptation.
Supply Chain Disruptions: Global events, geopolitical tensions, or health crises can disrupt sourcing of diamonds and precious metals.
7. Management & Ownership
For an Indian listed company, management typically involves promoter-led teams, often with professional executives overseeing operations. Ownership usually consists of a significant promoter holding, with the remainder held by institutional investors (domestic and foreign) and the public. Without specific information on "Deep Health AI India Ltd.", it is not possible to comment on the quality or specific structure of its management and ownership.
8. Outlook
The Indian Diamond & Jewellery market presents a robust long-term outlook driven by strong cultural affinity, rising incomes, and the ongoing formalization of the economy. Companies that can build strong brands, ensure purity, offer diverse designs, and effectively leverage both offline and online channels are well-positioned for growth. However, the sector remains susceptible to commodity price volatility and macroeconomic headwinds that can impact discretionary spending. Intense competition necessitates continuous innovation in design, marketing, and customer engagement. A company's ability to navigate these challenges while capitalizing on India's inherent demand for jewellery will determine its success.
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Market Cap ₹34 Cr.
Stock P/E 38.6
P/B 0.9
Current Price ₹2.4
Book Value ₹ 2.7
Face Value 1
52W High ₹10.3
Dividend Yield 0%
52W Low ₹ 1.7
Price goes above X
Price falls below X
PE goes above X
PE falls below X
₹ | |
| #(Fig in Cr.) | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Net Sales | 1 | 1 | 2 | 1 | 0 | 0 | 0 | 0 | 3 | 1 |
| Other Income | 0 | 1 | 1 | 0 | 0 | 0 | 0 | 0 | 0 | 4 |
| Total Income | 1 | 1 | 2 | 1 | 0 | 0 | 1 | 0 | 4 | 4 |
| Total Expenditure | 1 | 1 | 2 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Operating Profit | -0 | 1 | 0 | 0 | 0 | 0 | 0 | 0 | 3 | 4 |
| Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Depreciation | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Exceptional Income / Expenses | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit Before Tax | -0 | 1 | -0 | 0 | 0 | 0 | 0 | 0 | 3 | 4 |
| Provision for Tax | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1 | 1 |
| Profit After Tax | -0 | 1 | -0 | 0 | 0 | 0 | 0 | 0 | 3 | 3 |
| Adjustments | 0 | 0 | -0 | -0 | 0 | 0 | -0 | -0 | 0 | -0 |
| Profit After Adjustments | -0 | 1 | -0 | 0 | 0 | 0 | 0 | 0 | 3 | 3 |
| Adjusted Earnings Per Share | -0.1 | 0.1 | -0 | 0.1 | 0 | 0 | 0.1 | 0 | 0.5 | 0.2 |
| #(Fig in Cr.) | Mar 2024 | Mar 2025 | TTM |
|---|---|---|---|
| Net Sales | 3 | 1 | 4 |
| Other Income | 1 | 1 | 4 |
| Total Income | 4 | 2 | 9 |
| Total Expenditure | 3 | 1 | 0 |
| Operating Profit | 1 | 1 | 7 |
| Interest | 0 | 0 | 0 |
| Depreciation | 0 | 0 | 0 |
| Exceptional Income / Expenses | 0 | 0 | 0 |
| Profit Before Tax | 1 | 1 | 7 |
| Provision for Tax | 0 | 0 | 2 |
| Profit After Tax | 0 | 1 | 6 |
| Adjustments | 0 | 0 | 0 |
| Profit After Adjustments | 0 | 1 | 6 |
| Adjusted Earnings Per Share | 0.1 | 0.2 | 0.8 |
| # | 1 Year | 3 Year | 5 Year | 10 Year |
|---|---|---|---|---|
| Sales CAGR | -67% | 0% | 0% | 0% |
| Operating Profit CAGR | 0% | 0% | 0% | 0% |
| PAT CAGR | 0% | 0% | 0% | 0% |
| # | 1 Year | 3 Year | 5 Year | 10 Year |
|---|---|---|---|---|
| Share Price CAGR | -48% | -33% | 13% | 6% |
| ROE Average | 4% | 3% | 3% | 3% |
| ROCE Average | 5% | 5% | 5% | 5% |
| #(Fig in Cr.) | Mar 2024 | Mar 2025 |
|---|---|---|
| Shareholder's Funds | 20 | 22 |
| Minority's Interest | 0 | 0 |
| Borrowings | 0 | 0 |
| Other Non-Current Liabilities | -0 | -0 |
| Total Current Liabilities | 3 | 2 |
| Total Liabilities | 23 | 24 |
| Fixed Assets | 0 | 0 |
| Other Non-Current Assets | 17 | 19 |
| Total Current Assets | 6 | 5 |
| Total Assets | 23 | 24 |
| #(Fig in Cr.) | Mar 2024 | Mar 2025 |
|---|---|---|
| Opening Cash & Cash Equivalents | 6 | 3 |
| Cash Flow from Operating Activities | -5 | 0 |
| Cash Flow from Investing Activities | -2 | -0 |
| Cash Flow from Financing Activities | 5 | 0 |
| Net Cash Inflow / Outflow | -3 | -0 |
| Closing Cash & Cash Equivalent | 3 | 3 |
| # | Mar 2024 | Mar 2025 |
|---|---|---|
| Earnings Per Share (Rs) | 0.08 | 0.17 |
| CEPS(Rs) | 0.08 | 0.17 |
| DPS(Rs) | 0 | 0 |
| Book NAV/Share(Rs) | 3.92 | 4.3 |
| Core EBITDA Margin(%) | -9.67 | 36.19 |
| EBIT Margin(%) | 32.54 | 96.03 |
| Pre Tax Margin(%) | 22.49 | 88.51 |
| PAT Margin (%) | 16.31 | 69.61 |
| Cash Profit Margin (%) | 16.78 | 70.5 |
| ROA(%) | 1.81 | 3.73 |
| ROE(%) | 2.04 | 4.1 |
| ROCE(%) | 3.77 | 5.37 |
| Receivable days | 207.78 | 284.53 |
| Inventory Days | 94.19 | 170.2 |
| Payable days | 239.18 | 1585.38 |
| PER(x) | 68.05 | 24.57 |
| Price/Book(x) | 1.39 | 0.96 |
| Dividend Yield(%) | 0 | 0 |
| EV/Net Sales(x) | 10.44 | 14.94 |
| EV/Core EBITDA(x) | 31.64 | 15.65 |
| Net Sales Growth(%) | 0 | -50.74 |
| EBIT Growth(%) | 0 | 45.38 |
| PAT Growth(%) | 0 | 110.27 |
| EPS Growth(%) | 0 | 109.98 |
| Debt/Equity(x) | 0.08 | 0.03 |
| Current Ratio(x) | 2.2 | 3.15 |
| Quick Ratio(x) | 1.95 | 2.83 |
| Interest Cover(x) | 3.24 | 12.76 |
| Total Debt/Mcap(x) | 0.06 | 0.03 |
| # | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Promoter | 0.08 | 0.08 | 0.08 | 0.08 | 0.08 | 0.08 | 0.08 | 0.08 | 0.03 | 0.03 |
| FII | 1.04 | 1.04 | 1.04 | 1.04 | 1.04 | 1.04 | 1.04 | 1.04 | 0.35 | 0.35 |
| DII | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Public | 98.88 | 98.88 | 98.88 | 98.88 | 98.87 | 98.87 | 98.87 | 98.87 | 99.62 | 99.62 |
| Others | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 |
| # | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Promoter | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| FII | 0.05 | 0.05 | 0.05 | 0.05 | 0.05 | 0.05 | 0.05 | 0.05 | 0.05 | 0.05 |
| DII | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Public | 4.75 | 4.75 | 4.75 | 4.75 | 4.75 | 4.75 | 4.75 | 4.75 | 14.36 | 14.36 |
| Others | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total | 4.81 | 4.81 | 4.81 | 4.81 | 4.81 | 4.81 | 4.81 | 4.81 | 14.42 | 14.42 |
* The pros and cons are machine generated.
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