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DP Abhushan Q3 FY26 PAT Surges 96% YoY to ₹73.35 Cr; EBITDA Margins Expand to 8.64%
D. P. Abhushan reported a robust Q3 FY26 with revenue growing 13% YoY to ₹1,222.4 crore, driven by festive and wedding demand. Profitability saw a massive jump, with PAT rising 96% YoY to ₹73.35 crore, supported by inventory gains and a shift toward higher-margin silver and diamond jewellery. Silver revenue was a standout performer, growing 118% YoY to ₹114 crore in the nine-month period. Management highlighted that while high gold prices impacted volumes, the conversion ratio remained healthy at 82%.
Key Highlights
Q3 FY26 PAT grew 96% YoY to ₹73.35 crore; EBITDA rose 89% YoY to ₹105.6 crore
EBITDA margins expanded to 8.64% in Q3, driven by operating leverage and product mix
Silver segment revenue surged 118% YoY to ₹114 crore for the 9M FY26 period
Inventory gains contributed approximately 25-28% to the recent margin improvement
Maintained a high customer conversion ratio of 82% with 1,75,351 walk-ins in 9M FY26
💼 Action for Investors
Investors should monitor the sustainability of margins as inventory gains from rising gold prices may normalize. The company's successful diversification into high-margin silver and diamonds remains a key structural growth driver.
D. P. Abhushan Q3FY26 PAT Surges 96% YoY to ₹73 Cr; Revenue Up 13%
D. P. Abhushan reported a strong performance for Q3FY26, with revenue growing 13% YoY to ₹1,222 crore and PAT nearly doubling to ₹73 crore. The growth was primarily driven by wedding season demand and festive momentum, with the silver segment showing an exceptional 131% YoY increase. EBITDA margins improved significantly, with EBITDA rising 89% YoY to ₹106 crore due to disciplined inventory management and natural hedging against gold price volatility. The company continues its expansion in Central India, now operating 11 stores with a high footfall-to-conversion ratio of 82.28%.
Key Highlights
Q3FY26 Revenue increased by 13% YoY to ₹1,222 crore, while 9MFY26 Revenue reached ₹2,731 crore.
Net Profit (PAT) for Q3FY26 grew by 96% YoY to ₹73 crore, reflecting strong operational efficiency.
Silver segment revenue skyrocketed by 131% YoY in Q3FY26 to ₹67 crore, driven by festive gifting.
Maintained a high inventory turnover ratio of 4.5x and a conversion rate of 82.28% across 11 stores.
Diamond segment saw a decline of 33% YoY in Q3FY26, though the company is targeting growth through exhibitions.
💼 Action for Investors
Investors should monitor the company's ability to maintain these high margins as gold prices stabilize. The stock remains an attractive growth play in the organized retail jewellery space in Central India given its efficient inventory management and expansion plans.
D. P. Abhushan Q3FY26: Net Profit Nearly Doubles to ₹73.4 Cr, EBITDA Up 89% YoY
D. P. Abhushan reported a stellar Q3FY26 with PAT surging 96% YoY to ₹73.4 crore and revenue growing 13% to ₹1,222.4 crore. The company's EBITDA margins expanded significantly by 350 basis points to 8.64%, driven by strong festive demand and efficient inventory management. For the nine-month period (9MFY26), PAT rose 84% to ₹161.2 crore, reflecting robust operational efficiency despite gold price volatility. Management highlighted silver as a key growth driver and confirmed plans for further store expansions.
Key Highlights
Q3FY26 Revenue grew 13% YoY to ₹1,222.4 crore, supported by festive season demand in October and November.
EBITDA jumped 89% YoY to ₹105.6 crore, with margins expanding from 5.14% to 8.64%.
Net Profit (PAT) nearly doubled, rising 96% YoY to ₹73.4 crore from ₹37.3 crore.
9MFY26 performance remained strong with PAT of ₹161.2 crore, up 84% compared to the previous year.
Company successfully managed gold price volatility through natural hedging and disciplined inventory management.
💼 Action for Investors
The stock reflects strong operational leverage and significant margin expansion, making it a positive outlook for growth-oriented investors. Monitor the upcoming store expansions and the sustainability of these higher margins in a volatile gold price environment.
D. P. Abhushan Q3 FY26 Net Profit Jumps 96.5% YoY to ₹73.35 Crore
D. P. Abhushan reported a stellar performance for Q3 FY26, with net profit nearly doubling to ₹73.35 crore from ₹37.34 crore in the same quarter last year. Revenue from operations grew by 12.7% YoY to reach ₹1,222.38 crore, reflecting strong consumer demand. Notably, the company's nine-month profit of ₹161.24 crore has already surpassed its total profit for the entire previous financial year (FY25). Earnings per share (EPS) saw a significant increase to ₹32.21 from ₹16.60 YoY.
Key Highlights
Revenue from operations increased 12.7% YoY to ₹1,22,237.69 Lakhs.
Net Profit (PAT) surged 96.5% YoY to ₹7,335.49 Lakhs from ₹3,733.73 Lakhs.
Profit Before Tax (PBT) grew by 99% YoY to ₹9,827.89 Lakhs.
9-month PAT stands at ₹16,123.91 Lakhs, an 84% increase over the previous year's 9-month period.
Basic EPS for the quarter rose to ₹32.21 compared to ₹16.60 in Q3 FY25.
💼 Action for Investors
The company is demonstrating exceptional bottom-line growth and margin expansion, making it a high-growth play in the jewellery sector. Investors should maintain a positive outlook given that 9-month profits have already exceeded the previous full year's performance.
DPABHUSHAN Reaffirms CARE A-; Stable Rating, Enhances Bank Facilities to ₹339.95 Crore
D. P. Abhushan Limited (DPAL) has received a reaffirmation of its 'CARE A-; Stable' and 'CARE A2+' credit ratings from CARE Ratings. The company has significantly enhanced its rated bank facilities to ₹339.95 crore from ₹214.06 crore to support its aggressive expansion strategy. Financial performance remains robust, with FY25 revenue growing 42% YoY to ₹3,312 crore and PBILDT margins improving to 5.34%. The company maintains a healthy capital structure with an overall gearing of 0.46x and strong interest coverage of 10.37x.
Key Highlights
CARE Ratings reaffirmed 'CARE A-; Stable' for long-term and 'CARE A2+' for short-term bank facilities.
Total rated bank facilities increased to ₹339.95 crore to fund working capital and a 14-store expansion plan over two years.
FY25 Total Operating Income surged 42% to ₹3,312 crore, driven by strong performance across major stores.
PBILDT margin improved to 5.34% in FY25 and reached 8.62% in H1FY26 due to inventory gains from rising gold prices.
Overall gearing remains comfortable at 0.46x as of March 31, 2025, supported by recent equity fundraising of ₹67.74 crore.
💼 Action for Investors
Investors should take confidence in the rating reaffirmation and the company's ability to secure higher credit limits for expansion. The focus should remain on the successful rollout of 14 new stores and the sustainability of margins as gold prices stabilize.