PUSHPA
Introduction
Pushpa jewellers limited was founded in 2009 in Kolkata. It is a leading B2B manufacturer and wholesaler of the jewellery sector. It is expertised in providing lightweight 22 K jewels across India and exports to Dubai, US and Australia.
Company Overview
The company called Pushpa jewels limited was founded in 2009 in Kolkata. The company is specialised in wholesaling and manufacturing the intricate designs of lightweight 22 karat gold jewellery. The company has been listed on NSE in 2025. It also offered BIS hallmarked products and has maintained a strong presence in India. It operates as a B2B business model.
Promoter and Founder Introduction
The company was founded in 2009, by Mr. Anupam Tibrewal, Mr. Mridul Tibrewal and Mr. Madhur Tibrewal. Mr. Anupam Tibrewal is the chairman and managing director. Mr. Mridul Tibrewal is the whole-time director and CEO of the company.
Financial statement analysis
Balance sheet
Particulars (in units) | Mar 2023 | Mar 2024 | Mar 2025 |
Equity Capital | 0.23 | 0.23 | 19 |
Reserves | 22 | 36 | 39 |
Borrowings | 15 | 8 | 22 |
Other Liabilities | 6 | 7 | 11 |
Total Liabilities | 43 | 51 | 91 |
Fixed Assets | 10 | 11 | 16 |
CWIP | 0 | 0 | 0 |
Investments | 0 | 0 | 0 |
Other Assets | 33 | 41 | 75 |
Total Assets | 43 | 51 | 91 |
Income statement
Particulars | Mar 2023 | Mar 2024 | Mar 2025 |
Sales | 166 | 255 | 281 |
Expenses | 153 | 235 | 249 |
Operating Profit | 13 | 20 | 32 |
OPM % | 8% | 8% | 11% |
Other Income | 0 | 0 | 0 |
Interest | 1 | 1 | 2 |
Depreciation | 0 | 1 | 1 |
Profit before tax | 12 | 18 | 30 |
Tax % | 32% | 25% | 25% |
Net Profit | 8 | 14 | 22 |
Key Interpretation and Insights
Strengths
The company is distinct from the other companies as it is specialised in intricate designing of 22 karat lightweight gold jewellery as per the consumer preference.
Weakness
It makes it vulnerable when there is total reliance on the specific sector just like gold, this impacts the margins.
Risk Factor
There are many organized and unorganized players in the jewellery sector, as this sector is very competitive.
Future Outlook
The company has an expansion plan to survive in this competitive market by planning effectively and making a big difference.
Conclusion
The company has shown significant growth, expanding its operations to include international markets and maintaining strong financial metrics, although it faces risks associated with high competition and a recent weak market debut following its July 2025 IPO.
Sources
Pushpa jeweller limited
Screener
Yahoo finance