D. P. Abhushan Ltd. (DPABHUSHAN) AI Stock Analysis

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D. P. Abhushan Ltd.

(NSE:DPABHUSHAN)

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Rating:64Neutral

Price Target:INR 2,012.00▲(3.06% Upside)

Action:reiterated

Date:10/06/26

The score is primarily driven by strong financial growth and improving profitability, but it is materially held back by weak cash conversion (negative operating and free cash flow). Technicals show strong trend strength versus moving averages, yet very overextended momentum signals increase pullback risk. Valuation is moderate (P/E ~20.3) with no dividend yield data to add support.

Positive Factors

Strong Revenue GrowthThe substantial multi-year increase in revenue indicates expanding sales scale and sustained customer demand across the jewellery business. Continued growth provides a broader base over which to spread operating costs, supports store and product investment, and can strengthen earnings capacity over the next several quarters.

Negative Factors

Persistent Negative Cash FlowPersistent negative operating and free cash flow shows that reported profits are not currently converting into cash. This can require additional working capital or external funding to support expansion, reducing financial flexibility and making sustained growth more dependent on improving cash conversion.

D. P. Abhushan Ltd. (DPABHUSHAN) vs. iShares MSCI India ETF (INDA)

Market Cap: INR 45.40B
Dividend Yield: ―
Average Volume (3M): 112.87K
Price to Earnings (P/E): 19.5
Beta (1Y): 0.37
Revenue Growth: 25.99%
EPS Growth: 50.84%
Country: India
Employees: 847
Sector: General
Sector Strength: 55
Industry: Luxury Goods

D. P. Abhushan Ltd. Business Overview & Revenue Model

Company Description

D. P. Abhushan Limited functions as an Indian enterprise engaged in the retail distribution of a broad spectrum of exquisite jewelry and ornamental pieces. The company's extensive catalog includes a diverse range of collections, featuring traditional...

D. P. Abhushan Ltd. Financial Statement Overview

Summary

Strong revenue growth (12.17B in 2021 to 40.65B in 2026) and improving profitability (net margin ~5.2% in 2026 vs ~3.4% in 2025) support the score. Balance sheet leverage has improved (debt/equity ~0.48 in 2026 vs ~1.74 in 2021), but the major drag is persistently negative operating and free cash flow (OCF -1.133B and FCF -1.217B in 2026), raising cash-conversion and funding risk.

Income Statement

78Positive

Balance Sheet

72Positive

Cash Flow

34Negative

Financial statement breakdown
Breakdown	TTM	Mar 2026	Mar 2025	Mar 2024	Mar 2023	Mar 2022
Income Statement
Total Revenue	43.77B	40.65B	33.11B	23.40B	19.75B	17.31B
Gross Profit	4.33B	3.67B	2.66B	1.50B	969.84M	1.09B
EBITDA	3.44B	3.04B	1.75B	1.01B	768.96M	751.67M
Net Income	2.40B	2.12B	1.13B	618.62M	453.17M	404.35M
Balance Sheet
Total Assets	0	11.43B	8.37B	5.37B	4.08B	4.14B
Cash, Cash Equivalents and Short-Term Investments	257.55M	257.55M	229.03M	292.09M	56.72M	47.11M
Total Debt	0	3.04B	1.84B	1.73B	1.26B	1.70B
Total Liabilities	-6.33B	5.10B	4.33B	2.99B	2.27B	2.76B
Stockholders Equity	6.33B	6.33B	4.04B	2.39B	1.81B	1.38B
Cash Flow
Free Cash Flow	-526.24M	-1.22B	-441.12M	-39.52M	592.01M	91.67M
Operating Cash Flow	-506.66M	-1.13B	-189.25M	-2.81M	603.09M	167.46M
Investing Cash Flow	-20.76M	-214.25M	-268.86M	-38.74M	-9.21M	-52.03M
Financing Cash Flow	489.01M	1.38B	395.04M	283.34M	-590.69M	-179.30M

D. P. Abhushan Ltd. Technical Analysis

Technical Analysis SentimentPositive

Last Price1952.30

Price Trends

50DMA1806.97Positive

100DMA1539.06Positive

200DMA1310.13Positive

Market Momentum

MACD3.87Positive

RSI48.78Neutral

STOCH36.79Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:DPABHUSHAN, the sentiment is Positive. The current price of 1952.30 is below the 20-day moving average (MA) of 2099.70, above the 50-day MA of 1806.97, and above the 200-day MA of 1310.13, indicating a neutral trend. The MACD of 3.87 indicates Positive momentum. The RSI at 48.78 is Neutral, neither overbought nor oversold. The STOCH value of 36.79 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for IN:DPABHUSHAN.

D. P. Abhushan Ltd. Peers Comparison

Overall Rating

UnderperformOutperform

Sector (55)

Financial Indicators

IN:DPABHUSHAN against its peers
Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
IN:PCJEWELLER	75Outperform	INR 148.23B	15.32	―	―	29.27%	3.00%
IN:TBZ	70Outperform	INR 42.42B	22.10	―	0.38%	24.14%	110.35%
IN:DPABHUSHAN	64Neutral	INR 42.93B	19.53	―	―	25.99%	50.84%
IN:SENCO	63Neutral	INR 52.75B	9.52	―	0.30%	41.91%	165.71%
IN:RAJESHEXPO	57Neutral	INR 15.28B	9.18	―	―	79.55%	130.31%
Sector *	55Neutral	$6.65B	3.83	-15.92%	6.20%	10.91%	7.18%
IN:PNGJL	53Neutral	INR 90.04B	17.64	―	―	50.66%	63.28%

* General Sector Average

Performance Comparison

IN:DPABHUSHAN and its peers over the selected period
Ticker	Company Name	Price	Change	% Change
IN:DPABHUSHAN	D. P. Abhushan Ltd.	1952.30	498.50	34.29%
IN:PCJEWELLER	PC Jeweller Ltd.	15.79	3.89	32.69%
IN:PNGJL	P N Gadgil Jewellers Limited	629.30	-32.35	-4.89%
IN:RAJESHEXPO	Rajesh Exports Limited	52.70	-132.05	-71.47%
IN:SENCO	Senco Gold Limited	331.55	3.20	0.97%
IN:TBZ	Tribhovandas Bhimji Zaveri Limited	651.30	461.11	242.44%

D. P. Abhushan Ltd. Corporate Events

D.P. Abhushan Reports 13.81% Growth in Festive-Season Sales

Nov 11, 2026

D.P. Abhushan Limited is an Indian jewellery retailer operating under the “D.P. Jewellers” brand, with sales across gold, diamond, silver and other categories. The company is expanding its retail footprint across key regional markets.During the compa...

D. P. Abhushan Announces Q2FY27 Earnings Call

Nov 7, 2026

D. P. Abhushan Limited operates in India’s jewellery industry, offering a broad range of products focused on purity, design standards and transparent customer service. The company has built an 86-year legacy and maintains a presence across 14 geograp...

D. P. Abhushan Reports 19% H1-FY27 PAT Growth

Nov 6, 2026

For the half year ended September 30, 2026, D. P. Abhushan reported 7% growth in revenue to ₹1,614.90 crore, while EBITDA increased 18% to ₹155.14 crore. Profit after tax rose 19% to ₹104.19 crore, supported by improved operating performance and stro...

D. P. Abhushan Board Clears Over ₹550 Crore Preferential Fund-Raising Plan

Oct 5, 2026

D. P. Abhushan Limited, a listed Indian jewellery company based in Ratlam, operates within SEBI’s regulatory framework and uses capital markets to support its growth. Its engagement with established e-voting and compliance service providers highlight...

D. P. Abhushan Clears ₹558-Crore Preferential Equity and Warrant Issue

Oct 5, 2026

D. P. Abhushan Ltd.’s board has approved a preferential issue of up to 866,434 fully paid equity shares at ₹1,430 each, raising as much as ₹123.9 crore, alongside a preferential issue of up to 3,035,711 fully convertible warrants at the same price, f...

D. P. Abhushan Updates Exchanges on Secretarial Auditor Name Change

Sep 24, 2026

D. P. Abhushan Limited has notified the stock exchanges of a change in the name of its secretarial audit firm from M/s. ALAP & Co. LLP to M/s. Prasad and Partners LLP, Company Secretaries, under Regulation 30 of SEBI’s listing regulations. The compan...

D. P. Abhushan to Join Arihant Capital Virtual Investor Conference

Sep 24, 2026

D. P. Abhushan Limited has announced that its officials will participate in the Arihant Capital Virtual Conference on September 30, 2026, between 10:00 A.M. and 11:00 A.M. The engagement underscores the company’s ongoing investor outreach efforts and...

D. P. Abhushan to Join Anand Rathi G-200 Summit 2026 in Mumbai

Sep 17, 2026

D. P. Abhushan Limited has notified stock exchanges that its officials will attend the Anand Rathi Annual Flagship Conference G-200 Summit 2026 in Mumbai on September 22. The company will participate in person at Taj Santacruz, using the event to eng...

D. P. Abhushan to Open New D. P. Jewellers Showroom in Dahod, Gujarat

Sep 3, 2026

D. P. Abhushan Ltd., which operates the D. P. Jewellers retail brand, is steadily growing its jewellery footprint across India, with a particular emphasis on strengthening its network in emerging regional markets like Gujarat. The company’s strategy...

Glossary

BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

Disclaimer

This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.

Date of analysis: Oct 06, 2026

D. P. Abhushan Ltd. AI Stock Analysis