D.P. Abhushan Limited has scheduled its Q3FY26 earnings call for January 24, 2026, following the announcement of quarterly results. The jewellery retailer will release its Q3FY26 and 9MFY26 financial results on Friday, January 23, 2026, with a management discussion scheduled for the following day.

Earnings Call Details

The company has organized a comprehensive investor interaction to discuss its quarterly performance. The management will host the earnings call to provide insights into the company's financial results and business developments.

Participants are encouraged to dial in 10 minutes prior to the call start time to avoid last-minute hold times. The company has also provided a pre-registration facility where investors can register in advance and receive email confirmation with call details.

Management Representation

The earnings call will feature key leadership from D.P. Abhushan Limited, ensuring comprehensive coverage of the company's performance and strategic direction.

Company Background

D.P. Abhushan Limited operates under the "D.P. Jewellers" brand and has established itself as a prominent name in the jewellery sector since 1940. The company carries forward an 86-year legacy in Central India and is currently managed by the fourth generation of the founding family. Listed in 2017, the company has built its reputation on commitment to purity and transparency in the jewellery industry.

Business Operations

The company operates an extensive retail network across multiple Indian cities, demonstrating its strong market presence in the jewellery sector.

The company has recently expanded its operations with new showrooms in Ajmer and Neemuch, along with a second location in Ratlam, indicating continued growth in its retail footprint.

Investor Contact Information

For earnings call details and investor relations queries, stakeholders can contact the designated representatives who will facilitate the conference call and provide additional information as needed.

D.P. Abhushan Limited has received credit rating reaffirmation from CARE Ratings Limited for its bank facilities, reflecting the company's strong operational foundation and growth trajectory in the gems and jewellery sector. The rating agency has maintained its assessment of the company's creditworthiness while acknowledging both strengths and challenges in the competitive jewellery retail market.

Credit Rating Details

CARE Ratings Limited has reaffirmed the credit ratings for D.P. Abhushan Limited's bank facilities with the following assessment:

The total bank facilities under rating amount to ₹339.95 crores, with a significant enhancement in the long-term/short-term facilities from ₹158.00 crores to ₹288.00 crores.

Strong Financial Performance

D.P. Abhushan Limited demonstrated robust financial performance with substantial growth across key metrics. The company reported 42% year-on-year growth in total operating income, increasing to ₹3,312 crores in FY25 from ₹2,340 crores in FY24, driven by strong performance across major stores.

Profit before interest, lease rentals, depreciation and taxation (PBILDT) margin improved to 5.34% in FY25 from 4.38% in FY24, supported by higher spreads and increased contribution from gold-studded jewellery.

Rating Strengths and Operational Excellence

The credit rating reflects several key strengths that support D.P. Abhushan's market position. The company benefits from experienced promoters with over eight decades of operational track record under the 'DP Jewellers' brand, which has built strong brand recall and trust among consumers in Madhya Pradesh and Rajasthan. As of September 30, 2025, the company operates 11 showrooms with a combined retail area of 50,650 square feet.

The company maintains prudent working capital management with an inventory turnover ratio of 5.63x in FY25. D.P. Abhushan manages inventory centrally from its head office in Ratlam and follows an inventory replenishment model for hedging against gold price volatility risk. The company's capital structure remained comfortable with overall gearing improving to 0.46x as of March 31, 2025, compared to 0.72x in the previous year.

Industry Challenges and Risk Factors

Despite strong operational performance, the ratings remain constrained by several industry-specific challenges. The retail gold jewellery industry is highly fragmented with intense competition from organised and unorganised players, limiting pricing flexibility and constraining scope for margin expansion. The company faces exposure to gold price volatility, as gold constitutes over 90-95% of total costs and exhibits sharp volatility influenced by global demand-supply dynamics.

Additionally, the gems and jewellery sector remains susceptible to regulatory risks, being among the most regulated industries as gold constitutes India's second-largest import bill after petroleum. High regulatory intervention by the Government of India has been observed in terms of import tariffs, gold deposit schemes, and mandatory PAN disclosure requirements.

Expansion Plans and Future Outlook

D.P. Abhushan has outlined ambitious expansion plans to strengthen its market presence. The company opened one store in Ratlam in April 2025 and plans to add two more stores in FY26, followed by an additional 14 new stores in the next two years. CARE Ratings expects the company to maintain healthy growth in the medium term, supported by same-store sales growth and incremental revenue from new stores.

The 'Stable' outlook reflects CARE Ratings' expectation that D.P. Abhushan will continue to benefit from experienced promoters, strong operational track record, and brand recall in Madhya Pradesh and Rajasthan jewellery markets, while managing the inherent challenges of the competitive gems and jewellery industry.