D.P. Abhushan share price today

D.P. Abhushan Ltd's share price was ₹1,934.70 at the close on 6 November 2026. It has been rising for 11 weeks. That is 31.9% above its average price over the last 200 trading days. In the last 52 weeks it traded between ₹897 and ₹2,364, and at that close it sat 71% of the way up from that low.

A share price tends to move through four phases: moving sideways (stage 1), rising (stage 2), stalling near a high (stage 3) and falling (stage 4). Today D.P. Abhushan Ltd is in stage 2. The phase helps read everything below.

Over the past 13 weeks it has done better than the NIFTY 500, and it has stayed ahead for 20 weeks in a row.

Over the last 9 years the share price moved +5,675% while the NIFTY 500 moved +137%, so it is ahead of the index over that whole period. The chart above shows the 13-week comparison for every week.

This page treats a rise as over when the price closes below its 200-day average on two Fridays in a row.

Two changes stood out: best operating margin in 22 quarters and profit up on a year earlier for 10 quarters in a row.

1. Best operating margin in 22 quarters

   Operating margin was 11% in the June 2026 quarter, against 10% a year earlier.

2. Profit up on a year earlier for 10 quarters in a row

   In the June 2026 quarter profit was ₹64 crore, +77.8% on a year earlier.

For April to June 2026 (the quarter ended 30 June 2026), D.P. Abhushan reported revenue of ₹852 crore, up 57.8% from ₹540 crore a year earlier, and a profit of ₹64.0 crore, up 77.8% from ₹36.0 crore.

D.P. Abhushan results: April to June 2026 against a year earlier

The next results, for July to September 2026, are due by 14 November 2026: listed companies must publish quarterly results within 45 days of the quarter's end (60 days for the January to March quarter).

D.P. Abhushan's management discussed these results on a call held on 30 September 2026; what it said is further down this page.

From the company's reported quarterly results (quarter ended 30 June 2026). Revenue and profit in ₹ crore.

D.P. Abhushan closed at ₹1,934.70 on 6 November 2026, up 29.0% from ₹1,499.50 a year earlier (7 November 2025) and up 748.4% over five years. Its highest weekly close since October 2017 was ₹2,363.80 on 9 October 2026.

D.P. Abhushan share price: then and now

Weekly closing prices. Each change is the move from that price to the 6 Nov 2026 close. A day's intraday high or low can go beyond these weekly closes.

460 weekly closes from 27 October 2017 to 6 November 2026.

6 Nov 2026: D.P. Abhushan closed at ₹1,934.70, down 0.3% on the week and down 18.2% on the month. 30 Sep 2026: D.P. Abhushan held its results call for April to June 2026. Management guided: 51 stores and ₹15,000 crore topline by 2030.

Earlier

• Our read, 22 Aug 2026: Showroom economics deliver 339 Cr revenue per store and 81% conversion rates, supported by 4.7x inventory turns.,Earnings growth of 77.8% in April to June 2026 is value-led from higher gold prices with modest 1-2% volume growth, while FY27 operating margin is guided down to 6.0-6.5%.,Negative 3-year operating cash flow of negative 116 Cr reflects retail inventory ramp funded by 100% Gold Metal Loans rather than credit leakage.
• Results for April to June 2026: Revenue up 57.8% and profit up 77.8% on a year earlier.

Our read of the business

Showroom economics deliver 339 Cr revenue per store and 81% conversion rates, supported by 4.7x inventory turns.,Earnings growth of 77.8% in April to June 2026 is value-led from higher gold prices with modest 1-2% volume growth, while FY27 operating margin is guided down to 6.0-6.5%.,Negative 3-year operating cash flow of negative 116 Cr reflects retail inventory ramp funded by 100% Gold Metal Loans rather than credit leakage.

Latest quarter: Value-Led Surge on Gold Realization While Volume Growth Remains Modest at 1-2%.

Our read after the latest results, written 22 August 2026.

D.P. Abhushan paid no dividend in the 12 months to 7 November 2026. The last was a dividend of ₹1 a share, ex-date 22 September 2023.

D.P. Abhushan dividends since 1 April 2021

Amounts as the company declared them on the NSE. A dividend goes to whoever owns the shares before the ex-date.

Not in its latest year. D.P. Abhushan Ltd paid out 0% of its profit as dividends in FY26. It did pay a dividend in 3 of its last 10 reported years, so there is a history but no current dividend.

From the NSE corporate-actions record, read 7 November 2026.

On the call for April to June 2026, held on 30 September 2026, D.P. Abhushan's management guided: 51 stores and ₹15,000 crore topline by 2030.

“Whatever preferential funding is raised will be used entirely for new showroom inventory. There is no plan to repay debt. Everything will be required over the next 5 years to make this journey successful.”Manish Laddha, CFO, on the call for April to June 2026

What management guided

• 6-8 stores annually across the focused footprint, including Gujarat, Chhattisgarh and Vidarbha, through 2030.
• FOCO pilot in October and 6-8 FOCO stores by 2030, with the balance COCO.
• Initial preferential funding of ₹200-250 crore, entirely for new showroom inventory and not debt repayment.
• Diamond exposure planned at 2-2.5x current level over the next couple of years; blended gross profit 7-8% and profit margin 3.8-4.3%, potentially 4.5%, over five years.

Management’s own plans and goals, from our notes of the call. A plan is not a result.

Source: the call transcript.

From the call for April to June 2026, 30 September 2026.

What is changing at D.P. Abhushan, from the latest results and calls: showroom revenue productivity & operating leverage, value-added mix shift into silver & studded jewelry and contiguous tier-2/3 geographic store network scaling.

• Showroom Revenue Productivity & Operating Leverage. High revenue throughput of 339 Cr per store and 81% conversion rates cover fixed showroom operating expenses. ⚠ estimate
• Value-Added Mix Shift into Silver & Studded Jewelry. Rapid scaling of silver and studded jewelry categories expands blended gross margins above commodity gold baselines. ⚠ estimate
• Contiguous Tier-2/3 Geographic Store Network Scaling. Scaling showroom network from 12 to 51 stores by 2030 across underserved Central and Western Indian markets. ⚠ estimate
• Working Capital De-Risking via Gold Metal Loans and Hedging. Real-time vendor procurement and 100% Gold Metal Loan backing for new store inventory insulate operating margins. ⚠ estimate

We check 16 kinds of change in every company, such as costs spread over more sales, higher-value products, new orders, new regions or falling debt, against its reported numbers and what management said on its calls. Only changes the numbers back are shown.

Our read after the latest results, written 22 August 2026.

The thesis breaks if showroom inventory turnover drops below 3.5x alongside persistent gold volume contraction exceeding 5% on a year earlier over two consecutive quarters, or if operating margin falls below 5.0% due to unhedged inventory losses.

Each change stops working if

• Contiguous Tier-2/3 Geographic Store Network Scaling: Upfront showroom inventory capital spending of 40-60 Cr per store strains bank credit lines before break-even is achieved in 6-9 months.
• Working Capital De-Risking via Gold Metal Loans and Hedging: Severe commodity price corrections trigger unhedged inventory write-downs on non-GML stock.

The main risks

• Gold Tonnage Volume Stagnation: Underlying gold volume grew only 1-2% in April to June 2026 after declining 20% in FY26, exposing revenue to price plateaus. ✓ fact
• Working Capital Intensity & Negative Operating Cash Flow: Cumulative 3-year operating cash flow of negative 116 Cr and rising debt to 290 Cr driven by upfront showroom inventory needs. ✓ fact
• Store Rollout Delays and Guidance Framework Modification: Past store rollout goals were repeatedly scaled back with only 1 store added in FY26 versus 6 planned. ✓ fact
• Import Duty Increase and Policy Uncertainty: Gold import duty increase from 6.0% to 15.0% in May 2026 creates short-term price friction for retail consumers. ✓ fact

Our read after the latest results, written 22 August 2026.

When D.P. Abhushan reports July to September 2026, these are the 4 checks that show whether the story is still on course. First: Preferential funding approval and deployment to new showroom inventory - check final terms and whether proceeds remain expansion-only.

D.P. Abhushan is on 2 of our India lists: Momentum stocks and Gold & silver stocks.

D.P. Abhushan Ltd earned ₹64.0 Cr of net profit in the Jun 2026 quarter, +77.8% on the same quarter a year earlier. That is the 10th quarter in a row of profit growth. Full-year FY26 profit was ₹212 Cr. Over 9 years profit has grown 51.6% a year on average. That is 7.5% of the quarter's revenue.

Net profit is what is left after every cost, interest and tax. Earnings per share, dividends and book value all grow from it.

The same quarter a year earlier earned ₹36.0 Cr.

For the full year, FY26 profit was ₹212 Cr (+87.6% on the year before).

Why profit moved: revenue changed +57.8% on a year earlier and the margin moved +1.0 percentage points. Sales did the work, and the margin was about flat.

On average over the last four quarters, profit changed +95.8% and revenue +38.3%. Profit is growing faster than sales: fixed costs are spread over more sales, so each extra rupee of revenue adds more to profit.

FY26-Q4. revenue ₹1,335 Cr and profit ₹51 Cr as reported.

FY27-Q1. revenue ₹852 Cr and profit ₹64 Cr as reported.

Why-sources: our stock research file (22 August 2026) and the company’s own results for those quarters.

D.P. Abhushan Ltd reported ₹852 Cr of revenue in the Jun 2026 quarter, +57.8% on the same quarter a year earlier. That is the 3rd quarter in a row with growth on the year before. Over 9 years it has grown 27.7% a year on average. The last full year, FY26, came in at ₹4,060 Cr.

Revenue is everything the company billed its customers in the period.

The last four reported quarters add to ₹4,377 Cr.

FY26 revenue was ₹4,060 Cr, +22.8% on the year before.

Recent pace: the last four quarters grew +38.3% on average, against 27.7% a year over the longer run, so this year is growing faster than its own long-run rate.

Is growth speeding up? Revenue over the last 12 months grew +30.8%, against +35.8% a year over the last 8 quarters (rolling over); profit over the last 12 months grew +94.3%, against +83.5% a year (accelerating).

FY26-Q4. revenue ₹1,335 Cr and profit ₹51 Cr as reported.

FY27-Q1. revenue ₹852 Cr and profit ₹64 Cr as reported.

Why-sources: our stock research file (22 August 2026) and the company’s own results for those quarters.

D.P. Abhushan Ltd's operating margin was 11.0% in the Jun 2026 quarter, 1.0 percentage points higher than the same quarter a year ago. Its latest full-year margin is the highest it has ever reported. Across 10 years it has been between 3.3% and 8.0%. The latest quarter is above every full year in that period.

Operating margin is what is left from every ₹100 of sales after the costs of running the business, before interest and tax. It shows pricing power and cost control.

Why the margin moved: operating margin changed +0.8 percentage points on the year while gross margin changed −0.3 points. So the gain came mostly from costs below the gross margin, such as staff and overheads, measured against sales.

When margins are at a record, every ratio built on profit looks better than usual, so watch whether they hold.

FY26-Q4. revenue ₹1,335 Cr and profit ₹51 Cr as reported.

FY27-Q1. revenue ₹852 Cr and profit ₹64 Cr as reported.

Why-sources: our stock research file (22 August 2026) and the company’s own results for those quarters.

Over the last 3 years D.P. Abhushan Ltd's operations used more cash than they brought in, so cash conversion was −30%, a gap worth watching. In FY26 its operations used ₹97.0 Cr of cash, against ₹212 Cr of profit. After ₹11.0 Cr of spending on assets, free cash was −₹108 Cr: it spent more than its operations brought in.

The profit and loss account shows what was earned. The cash-flow statement shows the cash that actually came in. Comparing operating cash flow with profit is one of the best checks that a profit is real.

Why this happened. The company replenishes gold 3 to 4 times daily at matched prices and finances new showroom inventory via 100% Gold Metal Loans and MCX derivative hedges. This framework stabilizes gross margins near 10.0% to 11.0% and reduces balance sheet exposure to gold price declines.

Cash-flow figures here are yearly, because quarterly cash statements are not published, so this section changes once a year.

Why −30% of profit came in as cash: the cash cycle stayed about the same between FY21 and FY26, so the cash follows profit, not the cycle. When less than 70% of profit comes in as cash, it is the thing to watch on this page.

What to look at next: the bigger use of cash is spending on new assets, at 2.0× depreciation over three years. The next section checks what that spending is building.

D.P. Abhushan Ltd's cash cycle, the days between paying suppliers and getting paid by customers, was 89 days in FY26, up from 79 days in FY21. It spent ₹53.0 Cr on assets over the last 3 years. Customers take 0 days to pay, and stock sits for 100 days on average.

Working capital is the cash tied up between paying suppliers and getting paid. Debtor days: how long customers take to pay. Inventory days: how long stock sits. The cash cycle: the whole loop, in days of sales.

At FY26 sales of ₹4,060 Cr, each day of that cycle ties up about ₹11.1 Cr, so roughly ₹990 Cr is tied up in the business at any time.

FY26: customers took 0 days to pay and stock sat for 100 days, about 3.3 months of sales sitting as stock, for a full cycle of 89 days, longer than FY21's 79.

The full loop: cash goes out to suppliers and production on day 0. Stock sits for 100 days. Customers pay about 0 days after that. Suppliers are paid at 11 days. Together that makes the 89-day cycle.

Spending on assets: ₹53.0 Cr over the last 3 years, against ₹26.0 Cr of depreciation (the yearly wear and tear on existing assets). So it is building well beyond replacing what wears out. Work still in progress is ₹1.0 Cr (FY26): assets paid for that are not earning yet.

In short: the cash is going into new capacity, not getting stuck in the daily cycle. The question is whether the new capacity earns.

D.P. Abhushan Ltd's P/E is 18.4×, in the middle of its own history: higher than 51% of past readings. Its usual P/E (the middle reading) is 18.0×, over 9 years of weekly prices. This compares the share price with the company’s own past. It does not say what the business is worth.

P/E is the share price divided by a year's profit per share: how many rupees the market pays for each rupee of yearly profit.