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D. P. Abhushan Ltd.
(DPABHUSHAN)
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Rating:72Outperform
Price Target:
₹1,849.00
▲(26.69% Upside)
Action:Upgraded
Date:09/30/26
The score is driven by strong technical momentum and a clear uptrend (price well above major moving averages with positive MACD). Financial performance is mixed: robust growth and improving profitability are offset by persistently negative operating/free cash flow, which is the key risk. Valuation appears reasonable on a ~15.8 P/E, providing some support but not enough to outweigh the cash-flow concern.
Positive Factors
Strong Revenue Growth
Sustained revenue expansion indicates that the showroom-led jewellery model is gaining scale and customer demand remains supportive. Continued top-line growth can improve operating leverage, strengthen regional presence, and provide a broader base for compounding earnings over the next several quarters.
Negative Factors
Persistent Negative Cash Flow
Reported profits are not converting into cash, with operating and free cash flow negative across the latest three annual periods. Persistent weak cash conversion may require additional working capital or external funding, limiting financial flexibility and increasing execution risk as the business grows.
Read all positive and negative factors
Positive Factors
Negative Factors
Strong Revenue Growth
Sustained revenue expansion indicates that the showroom-led jewellery model is gaining scale and customer demand remains supportive. Continued top-line growth can improve operating leverage, strengthen regional presence, and provide a broader base for compounding earnings over the next several quarters.
Read all positive factors
D. P. Abhushan Ltd. (DPABHUSHAN) vs. iShares MSCI India ETF (INDA)
Market Cap
₹38.03B
Dividend Yield0.19%
Average Volume (3M)25.33K
Price to Earnings (P/E)17.0
Beta (1Y)0.74
Revenue Growth30.80%
EPS Growth91.46%
CountryIN
Employees847
SectorGeneral
Sector StrengthN/A
IndustryLuxury Goods
Share Statistics
EPS (TTM)105.14
Shares Outstanding22,827,920
10 Day Avg. Volume21,678
30 Day Avg. Volume25,327
Financial Highlights & Ratios
PEG Ratio0.12
Price to Book (P/B)3.40
Price to Sales (P/S)0.53
P/FCF Ratio-17.66
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)N/A
Revenue Forecast (FY)N/A
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 traditio...
How the Company Makes Money
DPABHUSHAN makes money primarily by selling jewellery and bullion-linked products to retail customers through its stores. Its core revenue stream is the sale of gold jewellery, where earnings are driven by (a) the gold value embedded in products a...
D. P. Abhushan Ltd. Financial Statement Overview
Summary
Income Statement
78
Positive
Balance Sheet
72
Positive
Cash Flow
34
Negative
| 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 | 0.00 | 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 | 0.00 | 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
Positive
1459.50
Price Trends
1425.53
Positive
1209.13
Positive
1216.35
Positive
Market Momentum
23.26
Negative
68.76
Neutral
69.71
Neutral
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 1459.5 is above the 20-day moving average (MA) of 1408.67, above the 50-day MA of 1425.53, and above the 200-day MA of 1216.35, indicating a bullish trend. The MACD of 23.26 indicates Negative momentum. The RSI at 68.76 is Neutral, neither overbought nor oversold. The STOCH value of 69.71 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
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
72 Outperform | ₹38.03B | 17.01 | ― | 0.19% | 30.80% | 91.46% | |
64 Neutral | ₹128.97B | 13.33 | ― | 0.64% | 36.47% | -8.71% | |
61 Neutral | ₹53.78B | 9.21 | ― | 0.31% | 41.91% | 165.71% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% | |
55 Neutral | ₹18.69B | 11.29 | ― | 0.28% | 79.55% | 130.31% | |
55 Neutral | ₹42.38B | 19.83 | ― | 0.39% | 29.14% | 189.45% | |
53 Neutral | ₹86.16B | 17.97 | ― | ― | 47.77% | 76.71% |
* General Sector Average
IN:DPABHUSHAN
D. P. Abhushan Ltd.
1,788.80
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25.54%
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D. P. Abhushan Ltd. Corporate Events
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. Th...
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 ef...
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 ...
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 ...
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.