D.P. Abhushan Ltd.
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ABOUT
KEY POINTS
Revenue Breakup Mar 2021 • Gems & Jewellery: 99.9% • Windmill: 0.1%
AI Sector View
AI GENERATEDConsumer Durables
Urban discretionary demand is mixed but investable. Credit card transactions rose 27.0% YoY (2026-06), urban CMIE sentiment was 109.5 (2026-07), and consumer spending remained large at INR 44743 billion (Jun/26), even though formal consumer confidence fell to 88.3 points (Jul/26) and debit card transactions were -9.0% YoY (2026-06). Heavy sector inflows of INR 13175 crore over 3 months to 2026-08-31 indicate strong investor positioning behind the theme.
PROS
- Company has delivered good profit growth of 46.5% CAGR over last 5 years
- Company has a good return on equity (ROE) track record: 3 Years ROE 31.1%
- Company has a healthy return on capital (ROCE) of 28.7%
- Latest quarter profit grew 77.0% YoY, showing strong momentum
- Company has delivered good sales growth of 32.6% CAGR over last 5 years
CONS
- Operating cash flow has been negative in recent years
- Receivables are growing faster than sales - a possible quality concern
- Poor cash conversion - profits are not backed by operating cash flow (CFO/PAT 0.19x)
- Stock is trading at 7.7x its book value
* The pros and cons are machine generated based on quantitative rules.
Peer comparison
| Name | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| TITAN | 4989.00 | 76.90 | 442916.52 | 0.30 | 1777.00 | 62.88 | 21356.00 | 44.16 | 21.90 | 13.54 |
| KALYANKJIL | 590.50 | 42.50 | 60983.94 | 0.42 | 348.67 | 32.03 | 10588.93 | 45.68 | 24.86 | 5.97 |
| LALITHAA | 317.55 | 17.60 | 17773.59 | 0.00 | — | — | — | — | 43.11 | — |
| THANGAMAYL | 5475.70 | 43.52 | 17019.58 | 0.33 | 85.09 | 86.15 | 2666.38 | 71.44 | 26.62 | 5.43 |
| PCJEWELLER | 13.94 | 17.55 | 13594.48 | 0.00 | 221.88 | 37.02 | 877.04 | 20.99 | 9.68 | 27.54 |
| BLUESTONE | 869.60 | 235.90 | 13285.64 | 0.00 | 59.61 | 271.56 | 7368.46 | 1395.59 | 9.24 | 14.50 |
| SKYGOLD | 787.25 | 36.39 | 12192.45 | 0.00 | 104.90 | 140.67 | 2012.79 | 77.93 | 27.61 | 7.79 |
| AUGMONT | 893.25 | 24.44 | 8161.94 | 0.00 | — | — | — | — | 70.86 | — |
| SENCO | 364.75 | 10.47 | 5978.29 | 0.48 | 101.14 | -3.35 | 3056.03 | 67.34 | 22.86 | 6.97 |
| GOLDIAM | 342.25 | 24.44 | 5152.82 | 0.60 | 73.97 | 120.06 | 326.03 | 41.92 | 24.85 | 20.33 |
| VAIBHAVGBL | 216.65 | 12.75 | 3631.44 | 2.77 | 563.83 | 1398.27 | 9170.73 | 1026.99 | 18.41 | 10.55 |
| DPABHUSHAN | 1418.50 | 79.01 | 3238.14 | 0.00 | 9.65 | 16.55 | 439.67 | -25.50 | 34.36 | 4.35 |
Quarterly Results
Standalone Figures in Rs. Crores / View Consolidated
| Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 471 | 546 | 765 | 557 | 505 | 1,005 | 1,084 | 717 | 540 | 968 | 1,222 | 1,335 | 852 | |
| 446 | 524 | 737 | 532 | 466 | 967 | 1,029 | 675 | 486 | 892 | 1,117 | 1,266 | 767 | |
| Operating Profit | 25 | 22 | 29 | 24 | 38 | 38 | 55 | 42 | 54 | 76 | 106 | 69 | 85 |
| OPM % | 5.35% | 4.01% | 3.76% | 4.36% | 7.58% | 3.78% | 5.05% | 5.85% | 10.05% | 7.82% | 8.64% | 5.16% | 9.97% |
| 0 | 0 | 0 | 0 | 0 | 0 | 1 | 0 | 1 | 0 | 0 | 4 | 1 | |
| Interest | 3 | 3 | 5 | 0 | 3 | 3 | 4 | 4 | 4 | 4 | 5 | 4 | 5 |
| Depreciation | 1 | 1 | 1 | 1 | 2 | 2 | 2 | 4 | 3 | 3 | 3 | 3 | 3 |
| Profit before Tax | 21 | 18 | 22 | 23 | 34 | 33 | 49 | 35 | 49 | 69 | 98 | 67 | 86 |
| Tax % | 24.96% | 24.86% | 24.96% | 28.13% | 25.47% | 24.67% | 24.40% | 27.27% | 25.05% | 25.75% | 25.36% | 23.93% | 25.24% |
| Net Profit | 16 | 13 | 17 | 16 | 25 | 25 | 37 | 25 | 36 | 51 | 73 | 51 | 64 |
| 7.02 | 5.95 | 7.51 | 7.28 | 11.27 | 11.21 | 16.60 | 10.96 | 16.07 | 22.57 | 32.21 | 22.21 | 28.23 |
Profit & Loss
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | TTM | |
|---|---|---|---|---|---|---|---|---|---|
| 660 | 812 | 809 | 1,218 | 1,731 | 1,975 | 2,340 | 3,311 | 4,377 | |
| 638 | 784 | 774 | 1,167 | 1,659 | 1,898 | 2,239 | 3,137 | 4,042 | |
| Operating Profit | 22 | 28 | 34 | 51 | 72 | 77 | 101 | 174 | 335 |
| OPM % | 3.32% | 3.44% | 4.25% | 4.21% | 4.19% | 3.89% | 4.31% | 5.25% | 7.66% |
| 0 | 0 | 0 | 0 | 3 | 0 | 0 | 2 | 5 | |
| Interest | 10 | 10 | 10 | 11 | 15 | 11 | 12 | 15 | 17 |
| Depreciation | 1 | 2 | 3 | 4 | 5 | 5 | 6 | 9 | 11 |
| Profit before Tax | 11 | 16 | 22 | 37 | 55 | 61 | 83 | 151 | 320 |
| Tax % | 27.57% | 28.34% | 25.02% | 25.16% | 25.95% | 25.28% | 25.81% | 25.36% | 25.12% |
| Net Profit | 8 | 12 | 17 | 27 | 40 | 45 | 62 | 113 | 240 |
| EPS | 0.00 | 0.00 | 0.00 | 12.34 | 18.37 | 20.36 | 27.80 | 49.73 | — |
| Dividend Payout % | 0.00% | 0.00% | 0.00% | 0.00% | 5.50% | 4.91% | 3.60% | 0.00% | — |
COMPOUNDED SALES GROWTH
- 10 Years:
- —
- 5 Years:
- 33%
- 3 Years:
- 24%
COMPOUNDED PROFIT GROWTH
- 10 Years:
- —
- 5 Years:
- 47%
- 3 Years:
- 41%
STOCK PRICE CAGR
- 10 Years:
- —
- 5 Years:
- 48%
- 3 Years:
- 38%
- 1 Year:
- -9%
RETURN ON EQUITY
- 10 Years:
- —
- 5 Years:
- 32%
- 3 Years:
- 31%
- Last Year:
- 35%
Balance Sheet
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|
| Equity Capital | 22 | 22 | 22 | 22 | 22 | 22 | 22 | 23 |
| 19 | 31 | 47 | 75 | 116 | 159 | 216 | 376 | |
| 122 | 97 | 97 | 167 | 161 | 124 | 166 | 176 | |
| Trade Payables | 15 | 51 | 58 | 78 | 61 | 63 | 72 | 177 |
| 17 | 29 | 43 | 56 | 54 | 57 | 81 | 121 | |
| Total Liabilities | 195 | 230 | 269 | 397 | 414 | 425 | 558 | 873 |
| 26 | 27 | 30 | 42 | 50 | 49 | 49 | 65 | |
| Capital Work in Progress | 0 | 0 | 1 | 0 | 0 | 0 | 0 | 11 |
| 0 | 0 | 0 | 2 | 0 | 0 | 0 | 0 | |
| 148 | 185 | 230 | 320 | 350 | 346 | 455 | 722 | |
| 0 | 0 | 0 | 0 | 0 | 0 | 1 | 2 | |
| Cash & Bank | 7 | 7 | 2 | 11 | 5 | 5 | 29 | 23 |
| 14 | 11 | 6 | 21 | 8 | 24 | 25 | 50 | |
| Total Assets | 195 | 230 | 269 | 397 | 414 | 425 | 558 | 873 |
Cash Flows
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|
| -6 | 41 | 13 | -20 | 30 | 77 | -0 | -19 | |
| Cash from Investing | -17 | -3 | -2 | -12 | -5 | -1 | -4 | -27 |
| Cash from Financing | 30 | -34 | -11 | 50 | -18 | -60 | 28 | 40 |
| 3 | 0 | -5 | 9 | -6 | 0 | 24 | -6 |
Ratios
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|
Documents
Corporate disclosures, annual reports, credit ratings, and concall transcripts
2026-09-07 - D. P. Abhushan Limited has informed the Exchange about Newspaper Publication w.r.t Notice of 9th Annual General Meeting of the Company.
2026-09-03 - D. P. Abhushan Limited has informed the Exchange about Inauguration of D. P. Jewellers' new showroom at Dahod (Gujarat) on September 24, 2026.
2026-09-03 - D. P. Abhushan Limited has informed the Exchange regarding Notice of Annual General Meeting to be held on September 25, 2026
2026-08-22 - D. P. Abhushan Limited has informed the Exchange regarding Outcome of Board Meeting held on August 22, 2026 to consider and approve Re-appointment of Mr. Santosh Kataria as MD and Anil Kataria as WTD; to alter Articles of Association; Draft Director''s Report for the FY 2025-26; Appoint NSDL as remote e-voting agency and Appointment of M/s. ALAP & Co. LLP as scrutinizer for remote e-voting process.
2026-08-17 - D. P. Abhushan Limited announces a new showroom under its brand name "D.P. Jewellers" at Jodhpur, Rajasthan under the COCO Model.
2026-08-05 - D. P. Abhushan Limited has informed the Exchange regarding Outcome of Board Meeting held on August 05, 2026 to change the address at which the books of account are to be maintained
2026-07-28 - D. P. Abhushan Limited has informed the Exchange about Transcript
2026-07-22 - D. P. Abhushan Limited has informed the Exchange about Link of Recording for the Earnings Call held on July 22, 2026.
2026-07-21 - D. P. Abhushan Limited has informed the Exchange about Investor Presentation
News
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