D. P. Abhushan Limited (NSE: DPABHUSHAN, BSE: 544161) reported its financial results for the third quarter of fiscal year 2026, covering the period ended December 31, 2025. The company is a listed player in India’s gems and jewellery retail sector.
Quarterly Financials:
For Q3 FY2026, D. P. Abhushan posted total revenue of ₹1,222.4 crore, marking a year-on-year increase of about 13%. The company’s Earnings Before Interest, Taxes, Depreciation and Amortisation (EBITDA) rose approximately 89% to ₹105.6 crore, expanding the quarterly margin. Profit After Tax (PAT) nearly doubled to ₹73.4 crore, up around 96% compared with the same quarter last year. Basic earnings per share were reported at ₹32.21 for the quarter. For the nine months ended December 31, 2025, total revenue increased by around 5% to ₹2,731.4 crore, while EBITDA and PAT grew significantly by 79% and 84%, respectively.
Operational Update:
The company’s performance was supported by sustained consumer demand during the wedding and festive season. D. P. Abhushan maintained disciplined inventory management despite elevated gold prices that have pressured volumes in parts of the jewellery sector. The operational focus on core retail segments and product mix optimisation contributed to margin expansion during the quarter.
Market Risk and Outlook:
D. P. Abhushan faces notable market risks tied to commodity price volatility, particularly gold. Fluctuations in global gold prices can impact demand elasticity and inventory costs for jewellery retailers, potentially affecting sales volumes and margins. Consumer sentiment in discretionary segments like jewellery can also be sensitive to macroeconomic conditions, inflationary pressures, and interest rates.
Looking ahead, industry analysts note that D. P. Abhushan aims to target revenue of around ₹3,900–4,000 crore for FY2026. The company plans to expand its retail footprint into states such as Gujarat, Chhattisgarh, and Maharashtra, with a focus on adding 3–5 stores annually and driving growth in tier II and III cities. Management has signaled a growth outlook of 20–25% annual expansion and is exploring broader geographic reach, including potential entry into northern India over the coming years.
D. P. Abhushan’s Q3 FY2026 results reflected solid financial momentum with strong revenue growth, expanded profitability, and improved margins. Operational discipline and strategic expansion plans underpin the company’s outlook, while commodity price risk and consumer demand variability remain key factors influencing future performance.