Ashapuri Gold Ornament Ltd – Company Report
1. Company Overview
Ashapuri Gold Ornament Ltd, incorporated in June 2008 and headquartered in Ahmedabad, Gujarat, is a prominent Indian manufacturer and wholesaler of gold jewellery. The company specializes in producing exquisite antique and contemporary gold ornaments and has steadily established itself as a trusted supplier to jewellers across metro and urban centers nationwide. Originally starting as a private limited company, Ashapuri was converted into a public limited company in January 2019 and is listed on the BSE.
The company operates a 2,945 sq. ft. office facility in Ahmedabad, has received BIS certification for gold jewellery since 2014, and is guided by a management team with deep industry experience. Ashapuri Gold Ornament serves both Indian and international buyers and has a strong reputation for quality, high craftsmanship, and timely order fulfillment. As of July 2025, the company remains almost debt-free and has demonstrated strong compounded growth over the past five years.
- Incorporated: June 2008
- Headquarters: Ahmedabad, Gujarat, India
- Legal Status: Public Limited Company, BSE listed
- Key Executives: Jitendrakumar Saremal Soni, Rushikesh Hasmukhbhai Patel, Saurabh Govindbhai Patel, Jenik Soni
- Certifications: BIS Certification for gold jewellery
- Core Focus: Manufacture and wholesale of gold ornaments, antique and designer jewellery
- Facility: 2,945 sq. ft. in Ahmedabad
- Employees: 200+ (estimated)
- Major Events: Partnership expansion, rights issue in 2024, face value split in 2023
2. Products and Services
Ashapuri Gold Ornament Ltd offers an extensive portfolio of gold ornament products, catering to diverse customer segments from high-end to value markets:
Product Portfolio:
- Antique, designer, and studded gold jewellery
- Bracelets, bangles, necklaces, earrings, finger rings, chains, ear chains, nose pins, waist belts, mangalsutra, anklets, pendant sets, and custom pieces
Manufacturing Capabilities:
- State-of-the-art production using modern design technologies and skilled artisans
- Large inventory of designs to meet varied B2B customer needs
Customer Segments Served:
- Wholesale supply to jewellers and retail chains in metro and urban locations
- B2B channel partners, including large national and regional brands
Quality & Service:
- BIS-certified gold jewellery with a focus on standardization and customer satisfaction
- Emphasis on innovative designs, luxurious finishes, and value-added services
Strategic Alliances:
- Partnerships with firms such as Blue-Onyx Lifestyle to expand design and distribution reach
3. Recent News & Financial Performance
Recent Developments
- February 12, 2024: Company in an exchange filing announced that it had orders from Bhima Gold Pvt. Ltd., Chandukaka Saraf and Sons Pvt. Ltd., Sulthan Gold Pvt. Ltd. and other renowned customers to supply the Antique Gold Jewellery worth ₹20 crores. The product is to be delivered approximately in three months.
- January 10, 2025: Received an order for the supply of jewellery from major industry players like Malabar Gold Ltd, Titan Company Ltd, Senco Gold Ltd, C Krishniah Chetty & Sons, and Others, with a total order value of approximately ₹48 crores.
- March 27, 2025: Secured an order for the supply of gold jewellery from various jewellery companies, including Senco Gold Ltd, Kalyan Jewellers India Ltd, C Krishniah Chetty & Sons, and others. The total value of the order is around ₹21 Crores, and the order is to be executed within the next two months.
- April 8, 2025: Secured a significant domestic order valued at approximately ₹11 crores for the supply of gold jewellery. This order comes from a group of prominent regional and national jewellery retail chains, including several leading big-box jewellers. As per the terms, the company will be responsible for delivering a range of gold ornaments, with execution scheduled to be completed within 90 days.
- April 17, 2025: Ashapuri Gold Ornament Ltd plans to expand its operations in the eastern and northeast regions of India to strengthen its reach in the country’s jewellery market. As part of its expansion, the company will focus on key regions including Kolkata, Odisha, Jharkhand, and Guwahati to fuel its growth.
- August 15, 2025: Ashapuri Gold Ornament Limited, a rising star in India's jewellery manufacturing industry, has struck gold -- literally and figuratively -- at the prestigious India International Jewellery Show (IIJS Premier) 2025, clinching purchase orders worth approximately ₹102 Cr from some of the country's most prominent regional and national jewellery retail chains, along with top-tier big-box jewellers.
- August 25, 2025: Ashapuri Gold Ornament announced that it has secured an order worth ₹5.41 crore from renowned national retail jewellery chains for the supply of gold jewellery of Aneya Brand (Polki and Diamond) Collection. The company stated that the order is to be executed within 45 days.
- Completed a rights issue in 2024 and executed a face value split in 2023.
- Expanded B2B alliances and invested in technology upgrades and inventory management.
4. Financial Performance
| Metric | FY2025 | FY2024 |
|---|---|---|
| Revenue from Operations | ₹316.3 Cr | ₹165.1 Cr |
| Net Profit | ₹12.04 Cr | ₹7.43 Cr |
| EBITDA | ₹16.89 Cr | — |
| Operating Profit Margin (OPM) | 5% | — |
| Earnings Per Share (EPS) | ₹0.36 | — |
| Return on Equity (ROE) | 10.2% | — |