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DPABHUSHAN - D.P. Abhushan

📊 NSE: DPABHUSHAN 🏢 Diamond Cutting / Jewellery 📅 Last Updated: 12/13/2025 21:19

📢 Recent Corporate Announcements

DP Abhushan Q3 FY26 PAT Surges 96% YoY to ₹73.35 Cr; EBITDA Margins Expand to 8.64%

🟢 POSITIVE ⭐ 8/10

EARNINGS 📅 28 Jan 2026, 05:04 PM

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%.

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

💡 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 Releases Q3 FY26 Earnings Call Audio Recording

🟡 NEUTRAL ⭐ 4/10

EARNINGS 📅 25 Jan 2026, 11:50 AM

D. P. Abhushan Limited has officially released the audio recording of its Q3 FY26 earnings conference call held on January 23, 2026. The call addressed the company's unaudited financial performance for the quarter and nine-month period ending December 31, 2025. This disclosure is a routine regulatory requirement under SEBI LODR Regulations to ensure transparency for shareholders. Investors can access the full recording on the company's investor relations website to understand management's outlook.

Audio recording of the Q3 FY26 earnings call is now available for public review.
The call focused on financial results for the nine months ended December 31, 2025.
The investor interaction was conducted on January 23, 2026.
The recording is hosted on the official company website under the investor relations section.

💡 Investors should listen to the recording to gain qualitative insights into the company's growth strategy and management's commentary on the jewelry market. This is particularly useful for understanding margin trends and expansion plans not fully captured in the balance sheet.

D. P. Abhushan Q3FY26 PAT Surges 96% YoY to ₹73 Cr; Revenue Up 13%

🟢 POSITIVE ⭐ 8/10

EARNINGS 📅 24 Jan 2026, 12:46 PM

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%.

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.

💡 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

🟢 POSITIVE ⭐ 8/10

EARNINGS 📅 23 Jan 2026, 05:01 PM

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.

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.

💡 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

🟢 POSITIVE ⭐ 8/10

EARNINGS 📅 23 Jan 2026, 01:49 PM

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.

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.

💡 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.

D. P. Abhushan to Announce Q3FY26 Results on Jan 23; Earnings Call on Jan 24

🟡 NEUTRAL ⭐ 4/10

EARNINGS 📅 21 Jan 2026, 04:16 PM

D. P. Abhushan Limited has scheduled the announcement of its Q3FY26 and 9MFY26 financial results for January 23, 2026. This will be followed by an earnings conference call on January 24, 2026, at 1:00 PM IST to discuss the company's quarterly performance. The management team, including the Managing Director and CFO, will be present to address investor queries. The company currently operates 11 showrooms across Madhya Pradesh and Rajasthan, including recent expansions in Ajmer and Neemuch.

Q3FY26 and 9MFY26 financial results to be declared on January 23, 2026
Earnings conference call scheduled for January 24, 2026, at 13:00 hrs IST
Management representation includes MD Santosh Kataria and CFO Manish Laddha
Company maintains a retail presence with 11 showrooms across Central India and Rajasthan

💡 Investors should monitor the financial results on January 23rd and participate in the earnings call to assess the performance of the company's expanded showroom network.

D. P. Abhushan to Host Q3FY26 Earnings Call on January 24, 2026

🟡 NEUTRAL ⭐ 4/10

EARNINGS 📅 20 Jan 2026, 01:31 PM

D. P. Abhushan Limited has announced that it will release its financial results for the third quarter and nine months ended December 31, 2025 (Q3FY26 & 9MFY26) on Friday, January 23, 2026. Following the results, the company will host an earnings conference call on Saturday, January 24, 2026, at 13:00 hrs IST. The management team, including the Managing Director and CFO, will be present to discuss the company's performance and future growth strategies. The company currently operates a retail chain of 11 showrooms across Madhya Pradesh and Rajasthan.

Q3FY26 and 9MFY26 financial results announcement scheduled for January 23, 2026.
Earnings conference call to be held on January 24, 2026, at 1:00 PM IST.
Management representation includes MD Santosh Kataria, WTD Anil Kataria, and CFO Manish Laddha.
Company operates 11 showrooms across 9 cities including Indore, Bhopal, and Udaipur.
Dial-in numbers for the call are +91 22 6280 1107 and +91 22 7115 8008.

💡 Investors should track the results on January 23 to assess the impact of the wedding season on sales and attend the call for management commentary on expansion plans. Focus on margin sustainability amidst gold price fluctuations.

D. P. Abhushan Reports 100% Demat Shareholding for Quarter Ended December 31, 2025

🟡 NEUTRAL ⭐ 2/10

ROUTINE 📅 10 Jan 2026, 01:08 PM

D. P. Abhushan Limited has submitted its quarterly compliance certificate under Regulation 74(5) of SEBI (Depositories and Participants) Regulations for the period ending December 31, 2025. The company's Registrar and Share Transfer Agent, Bigshare Services Private Limited, confirmed that no rematerialization requests were received during this quarter. Notably, the entire shareholding of the company is already maintained in dematerialized form. This filing is a standard regulatory procedure to ensure the integrity of electronic share records.

Compliance certificate submitted for the quarter ended December 31, 2025.
100% of the company's shares are currently held in dematerialized form.
Zero requests for rematerialization were received during the reporting period.
Confirmation provided by Registrar and Share Transfer Agent, Bigshare Services Private Limited.

💡 No action is required from investors as this is a routine regulatory compliance filing. It confirms the company's adherence to SEBI's electronic shareholding norms.

DPABHUSHAN Reaffirms CARE A-; Stable Rating, Enhances Bank Facilities to ₹339.95 Crore

🟢 POSITIVE ⭐ 7/10

ROUTINE 📅 09 Jan 2026, 12:20 PM

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.

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.

💡 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.

D. P. Abhushan Announces Trading Window Closure from January 1, 2026

🟡 NEUTRAL ⭐ 2/10

ROUTINE 📅 27 Dec 2025, 01:22 PM

D. P. Abhushan Limited has announced the closure of its trading window for all designated insiders starting January 1, 2026. This move is in compliance with SEBI (Prohibition of Insider Trading) Regulations for the quarter ending December 31, 2025. The window will remain closed until 48 hours after the declaration of the company's unaudited financial results. This is a standard regulatory procedure to prevent insider trading ahead of quarterly earnings announcements.

Trading window for insiders to be closed effective from Thursday, January 1, 2026.
Closure is in anticipation of the Unaudited Financial Results for the quarter ended December 31, 2025.
The window will reopen 48 hours after the official declaration of the financial results.
Compliance follows SEBI (Prohibition of Insider Trading) Regulations, 2015.

💡 No action is required as this is a routine regulatory filing. Investors should await the announcement of the December quarter financial results to assess company performance.

DPABHUSHAN Investor Presentation: Market Opportunity & Financial Highlights

🟡 NEUTRAL ⭐ 5/10

ROUTINE 📅 02 Dec 2025, 02:44 PM

D. P. Abhushan Limited has released an investor presentation reflecting the market opportunity, business highlights, and financial highlights. FY25 revenue reflected a 42% YoY growth. EBITDA stood up 73% while PAT marking 82% YoY increase. The company opened its second showroom in Ratlam, a 9,450 sq. ft. space. The company is participating in Roadshows and meeting prospective investors.

FY25 revenue growth of 42% YoY
EBITDA up 73% YoY
PAT increase of 82% YoY
Second showroom in Ratlam with 9,450 sq. ft.

💡 Review the investor presentation for detailed insights into D. P. Abhushan's growth strategy and financial performance; monitor the company's expansion plans and participation in roadshows.

View All DPABHUSHAN Announcements on Live Market Tracking →

💰 Financial Performance

Revenue Growth by Segment

Gold jewellery remains the primary driver contributing 91% of total revenue. Silver segment showed exceptional growth of 103% YoY in H1 FY26, while diamond-studded jewellery experienced a slight decline of 3% YoY during the same period.

Geographic Revenue Split

The company operates 10 branches across Madhya Pradesh (Ratlam, Indore, Bhopal, Ujjain, Neemuch) and Rajasthan (Udaipur, Bhilwara, Kota, Banswara, Ajmer), with a total retail area of 54,217 sq. ft. as of November 2024.

Profitability Margins

Profitability showed significant improvement in Q2 FY26 with PAT margin at 5.32% compared to 2.50% in the previous year. H1 FY26 PAT margin stood at 5.83% (INR 87.88 Cr) compared to 3.33% (INR 50.21 Cr) in H1 FY25.

EBITDA Margin

EBITDA margin for Q2 FY26 improved to 7.83% from 3.79% YoY, a sharp 404 bps increase. For H1 FY26, margins reached 8.68% versus 5.06% last year, driven by better absorption of overheads and cost efficiencies.

Capital Expenditure

The company is planning to raise up to INR 600 Cr through a Qualified Institutional Placement (QIP) to fund its expansion roadmap, including new self-owned outlets and digital infrastructure.

Credit Rating & Borrowing

Credit rating was upgraded in January 2025 to CARE A-; Stable (Long-term) and CARE A2+ (Short-term) from CARE BBB+; Positive, reflecting healthy growth in scale and comfortable financial risk profile.

⚙️ Operational Drivers

Raw Materials

Primary raw materials include Gold bullion (representing over 90% of costs), Silver, Diamonds, and Platinum.

Import Sources

Not specifically disclosed in available documents; however, the company follows an inventory replenishment model for hedging gold price volatility.

Capacity Expansion

Current retail footprint is 54,217 sq. ft. across 10 branches. Planned expansion includes entering Gujarat, Chhattisgarh, and Maharashtra markets over the next 4-5 years.

Raw Material Costs

Raw material costs are highly sensitive to gold price volatility, which caused a 4% YoY revenue decline in Q2 FY26 despite festive demand.

Manufacturing Efficiency

The company focuses on high-turnover retail operations rather than just manufacturing, maintaining a wide variety of designs to drive footfall.

📈 Strategic Growth

Expected Growth Rate

20-25%

Growth Strategy

Growth will be achieved through a multi-pronged strategy: expanding the physical store footprint into Gujarat, Chhattisgarh, and Maharashtra; launching an e-commerce platform by the end of FY26; and increasing the revenue share of high-margin diamond-studded jewellery to a target of 10%.

Products & Services

Gold Jewellery, Diamond Jewellery, Platinum Jewellery, Silver Jewellery, and other precious metal ornaments.

Brand Portfolio

DP Jewellers

New Products/Services

Launching a dedicated e-commerce platform in Q4 FY26 and increasing focus on premium diamond-studded collections.

Market Expansion

Targeting pan-India presence with immediate focus on Madhya Pradesh, Gujarat, Chhattisgarh, Rajasthan, and Maharashtra over the next 4-5 years.

🌍 External Factors

Industry Trends

The industry is seeing a shift from unorganized to organized retail. Management expects strong demand from approximately 47 lakh weddings scheduled between November 2025 and March 2026.

Competitive Landscape

Competes with large pan-India players like Kalyan Jewellers and Tanishq, as well as numerous local unorganized jewelers.

Competitive Moat

Moat is built on an 85-year legacy, strong brand trust ('DP Jewellers') in central India, and high operational efficiency (inventory turnover of 5.47x).

Macro Economic Sensitivity

Highly sensitive to gold price fluctuations and consumer discretionary spending power, especially during the wedding season.

Consumer Behavior

Demand is heavily cyclical, peaking during the wedding season (Q3/Q4) and major festivals like Diwali and Akshaya Tritiya.

Geopolitical Risks

Susceptible to global gold price trends which are often influenced by geopolitical stability and central bank policies.

⚖️ Regulatory & Governance

Industry Regulations

Operations are subject to hallmarking mandates, gold import/export restrictions, and GST regulations governing the Gems & Jewellery sector.

⚠️ Risk Analysis

Key Uncertainties

Gold price volatility (potential impact on margins if not hedged correctly), regulatory changes in gold trade, and intense competition in new geographic markets.