Editor’s Note
This article highlights a significant corporate rebranding and strategic shift for Viram Suvarn Limited, supported by a formal research analysis. The move from Veeram Securities signals a focused pivot to the jewellery sector, a transformation that will be of particular interest to investors tracking the company’s new direction and financial prospects.
Viram Suvarn Limited, formerly known as Veeram Securities Limited, has received a comprehensive research report from A&Y Market Research, a SEBI-registered research analyst. The report, dated January 23, 2026, provides a detailed analysis of the company’s business transformation and financial performance.
The company completed its strategic transformation in November 2025, changing its name to better reflect its focus on the jewellery business. The Ahmedabad-based company operates an integrated business model encompassing wholesale distribution of gold bullion, silver trading, and ready-made jewellery supply.
The company’s product portfolio includes:
– Chains, bangles, necklaces, earrings, and rings
– Traditional ornaments with and without precious stones
– Products designed for weddings, festivals, and daily wear
– Combinations of traditional Indian craftsmanship with modern styles
The research report highlights impressive financial growth across key metrics for FY 2024-25:
– Revenue from Operations: ₹23.64 crore, a 22% growth from ₹19.33 crore in FY 2023-24.
– Total Income: ₹26.48 crore, a 36% growth from ₹19.52 crore.
– Net Profit After Tax: ₹3.41 crore, a 38% growth from ₹2.46 crore.
– Earnings Per Share: ₹2.25, a 38% growth from ₹1.63.
The nine-month performance for FY 2025-26 demonstrates continued momentum, with revenue reaching ₹19.28 crore compared to ₹17.09 crore in the previous year. Net profit showed remarkable growth, increasing to ₹6.19 crore from ₹2.44 crore in the corresponding period.
Viram Suvarn Limited maintains a robust financial position with zero long-term debt. As of March 2025, the company’s balance sheet shows:
– Equity Share Capital: ₹15.13 crore
– Reserves & Surplus: ₹10.18 crore
– Total Shareholders’ Funds: ₹25.31 crore
– Long-Term Debt: Nil
The company has announced a rights issue planned for 2026 to raise ₹30.26 crore at ₹8 per share, with a rights ratio of 1:2. The funds will be utilized to strengthen the balance sheet and support future growth initiatives.
The research report notes that Viram Suvarn Limited has obtained its Import Export Code and applied for TRQ Code from DGFT, enabling the company to import raw gold and export finished jewellery. This strategic move allows the company to explore overseas markets and diversify revenue sources.
Promoter confidence remains strong, with promoter and promoter group holding at 56.08% as of December 31, 2025. The company has maintained a shareholder-friendly approach, declaring interim dividends of 2.5% of paid-up equity share capital in FY 2022-23 and FY 2024-25.
According to the research report, the stock trades at a modest valuation with a trailing P/E ratio of 13x and P/B ratio of 3.12. The technical analysis identifies ₹7.81-₹8.00 as a strong support zone, with potential targets at ₹9.40 and ₹10.00 upon breakout above ₹8.89.
The research report positions Viram Suvarn Limited as well-placed for long-term expansion, supported by improving financial performance, additional capital through the rights issue, and continued promoter backing in the growing gold and silver jewellery market.
