D P Abhushan Limited passed all five resolutions at its 9th Annual General Meeting held on September 25, 2026, with a combined voter participation of 73.1232% on outstanding shares of 22827920.

The AGM was conducted at Hotel Balaji, Central Sailana Road, Ratlam, Madhya Pradesh, at 4:00 pm IST. Voting was carried out through remote e-voting via the National Securities Depository Limited (NSDL) platform, open from 9:00 am on September 22, 2026 to 5:00 pm on September 24, 2026, and through ballot papers at the meeting. The scrutinizer's report was prepared by Anand S. Lavingia, Designated Partner of M/s. Prasad and Partners LLP, Company Secretaries (formerly known as M/s ALAP & Co. LLP).

Resolutions put to vote

Five resolutions were placed before members for approval. Two were ordinary resolutions and three were special resolutions, as detailed below:

• Resolution 1 (Ordinary): Adoption of audited financial statements for the financial year ended March 31, 2026, along with reports of the Board of Directors and Statutory Auditors
• Resolution 2 (Ordinary): Re-appointment of Santosh Kataria (DIN: 02855068), Chairman and Managing Director, who retires by rotation
• Resolution 3 (Special): Re-appointment of Santosh Kataria (DIN: 02855068) as Chairman and Managing Director
• Resolution 4 (Special): Re-appointment of Anil Kataria (DIN: 00092730) as Whole-time Director
• Resolution 5 (Special): Alteration of the Articles of Association by insertion of New Article 165 relating to marking of specified securities as non-transferable pursuant to applicable laws

Consolidated voting results

The table below presents the consolidated voting outcome across all five resolutions, covering promoter and promoter group, public institutions, and public non-institutions.

Category-wise participation

The promoter and promoter group held 17095744 shares. For Resolutions 1, 2, 3, and 5, the promoter group cast 16577930 votes via e-voting, representing 96.9711% of their holding, all in favour. For Resolution 4, the promoter group cast 10506700 votes via e-voting, representing 61.4580% of their holding, all in favour.

Public institutions held 50000 shares and cast 14969 votes across all five resolutions via e-voting, representing 29.9380% of their holding, all in favour. Public non-institutions held 5682176 shares and cast 99610 votes via e-voting across all resolutions, representing 1.7530% of their holding; of these, 99607 votes were in favour and 3 were against.

No votes were cast through ballot papers at the AGM, as no member present at the meeting opted to vote through that mode. There were zero invalid votes across all five resolutions and all shareholder categories.

Voting process and compliance

The cut-off date for determining shareholder eligibility was September 18, 2026. The AGM notice was dispatched to members via email on September 3, 2026, based on the register of members and beneficiary owner list as on August 28, 2026. The notice was also published in Financial Express (English) and Choutha Sansar (Hindi) on September 4, 2026. The AGM concluded at 5:15 pm IST on September 25, 2026, and remote e-voting was locked and finalised at approximately 6:18 pm IST on the same day. The voting process was conducted in compliance with Sections 108 and 109 of the Companies Act, 2013, and Regulation 44 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

D.P. Abhushan Limited reported a significant improvement in profitability for the fiscal year ended March 31, 2026, with net profit rising 88% to approximately ₹212 crore. The surge in bottom-line performance was accompanied by a 23% increase in revenue, which reached ₹4,070 crore, driven by strategic retail expansion and resilient consumer demand.

The company’s operational efficiency improved markedly during the period. EBITDA expanded by 77% to approximately ₹310 crore, pushing the EBITDA margin up to 7.61% from previous levels. This margin expansion occurred despite challenges such as elevated gold prices and volatile market conditions, indicating stronger pricing power and cost management within the organisation.

Strategic Expansion and Market Entry

During the reporting period, the company focused on strengthening its physical footprint and digital presence. The retail network expanded to 13 stores following the inauguration of a new showroom in Dahod, Gujarat, marking the company’s entry into the state. Prior to this, the network stood at 12 stores with a total retail area of approximately 53,650 square feet after opening a new outlet in Dhar.

Key strategic initiatives included:

• Launch of an official e-commerce platform and mobile application to create an omnichannel experience.
• Introduction of the DP Swarn Plus gold accumulation scheme and an old gold exchange programme.
• Organising targeted jewellery festivals to enhance brand visibility.

Financial Health and Operational Metrics

The company maintained a robust balance sheet position, with key liquidity and solvency ratios showing healthy trends. The current ratio improved to 2.14, while the debt-equity ratio remained comfortable at 0.45. The debt service coverage ratio strengthened significantly to 11.42 times, reflecting strong cash flow generation relative to debt obligations.

Operational highlights indicated strong customer engagement, with footfall conversion rates remaining high at approximately 82% to 83%. The product mix remained heavily skewed towards wedding jewellery, which contributed roughly 60% of sales, followed by festival and lightweight jewellery at 25%.

What the Numbers Show

A notable divergence appears between the rapid profit growth and the moderation in inventory turnover. While revenue and profits surged, inventory turnover declined from 5.64 times to 4.72 times. Management attributed this shift to higher inventory requirements associated with new store openings. This suggests that the capital deployed in expanding the retail footprint is currently absorbing working capital, which may temporarily weigh on asset efficiency metrics even as absolute profitability rises.

Governance and Shareholder Approvals

At the 9th Annual General Meeting held on September 25, 2026, shareholders approved several key resolutions. These included the re-appointment of Santosh Kataria as Chairman and Managing Director for five years effective October 1, 2026, and the re-appointment of Anil Kataria as Whole-time Director for a similar term. The meeting also adopted the audited financial statements for FY26 and approved alterations to the Articles of Association regarding the marking of specified securities as non-transferable.