Price
Financials
Standalone, Rs crore| Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 546 | 765 | 557 | 505 | 1,005 | 1,084 | 717 | 540 | 968 | 1,222 | 1,335 | 852 |
| Expenses | 524 | 737 | 532 | 466 | 967 | 1,029 | 675 | 486 | 892 | 1,117 | 1,266 | 760 |
| Operating Profit | 22 | 29 | 24 | 38 | 38 | 55 | 42 | 54 | 76 | 106 | 69 | 93 |
| OPM % | 4.0% | 3.8% | 4.4% | 8% | 3.8% | 5% | 6% | 10% | 8% | 9% | 5% | 11% |
| Other Income | 0 | 0 | 0 | 0 | 0 | 1 | 0 | 1 | 0 | 0 | 4 | 1 |
| Interest | 3 | 5 | 0 | 3 | 3 | 4 | 4 | 4 | 4 | 5 | 4 | 5 |
| Depreciation | 1 | 1 | 1 | 2 | 2 | 2 | 4 | 3 | 3 | 3 | 3 | 2 |
| Profit before tax | 18 | 22 | 23 | 34 | 33 | 49 | 35 | 49 | 69 | 98 | 67 | 86 |
| Tax % | 25% | 25% | 28% | 26% | 25% | 24% | 27% | 25% | 26% | 25% | 24% | 25% |
| Net Profit | 13 | 17 | 16 | 25 | 25 | 37 | 25 | 36 | 51 | 73 | 51 | 64 |
| EPS in Rs | 5.99 | 7.51 | 7.28 | 11.27 | 11.11 | 16.51 | 11.10 | 16.07 | 22.54 | 32.13 | 22.17 | 28.23 |
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 451 | 660 | 812 | 807 | 1,215 | 1,728 | 1,971 | 2,337 | 3,307 | 4,060 | 4,377 |
| Expenses | 433 | 638 | 784 | 773 | 1,164 | 1,653 | 1,893 | 2,234 | 3,131 | 3,753 | 4,034 |
| Operating Profit | 18 | 22 | 28 | 34 | 51 | 75 | 79 | 103 | 176 | 307 | 343 |
| OPM % | 3.9% | 3.3% | 3.4% | 4.2% | 4.2% | 4.3% | 4.0% | 4.4% | 5% | 8% | 8% |
| Other Income | 3 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 2 | 5 | 5 |
| Interest | 12 | 10 | 10 | 10 | 11 | 15 | 13 | 14 | 17 | 19 | 17 |
| Depreciation | 1 | 1 | 2 | 3 | 4 | 5 | 5 | 6 | 9 | 11 | 11 |
| Profit before tax | 8 | 11 | 16 | 22 | 37 | 55 | 61 | 83 | 151 | 283 | 320 |
| Tax % | 35% | 28% | 28% | 25% | 25% | 26% | 25% | 26% | 25% | 25% | |
| Net Profit | 5 | 8 | 12 | 17 | 27 | 40 | 45 | 62 | 113 | 212 | 240 |
| EPS in Rs | 3.66 | 5.30 | 7.49 | 12.34 | 18.17 | 20.36 | 27.80 | 49.73 | 92.80 | 105.07 | |
| Dividend Payout % | 0% | 0% | 0% | 0% | 0% | 6% | 5% | 4% | 0% | 0% |
| 10 Years | 5 Years | 3 Years | TTM | 1 Year | Last Year | |
|---|---|---|---|---|---|---|
| Compounded Sales Growth | % | 27% | 27% | 31% | ||
| Compounded Profit Growth | % | 51% | 67% | 93% | ||
| Stock Price CAGR | % | 51% | 38% | 16% | ||
| Return on Equity | 34% | 36% | 37% | 41% |
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 21 | 22 | 22 | 22 | 22 | 22 | 22 | 22 | 23 | 23 |
| Reserves | 0 | 19 | 31 | 47 | 75 | 116 | 159 | 216 | 381 | 610 |
| Borrowings | 96 | 125 | 99 | 97 | 171 | 170 | 126 | 173 | 184 | 304 |
| Other Liabilities | 21 | 29 | 78 | 102 | 129 | 105 | 102 | 126 | 249 | 206 |
| Total Liabilities | 138 | 195 | 230 | 269 | 397 | 414 | 409 | 537 | 837 | 1,143 |
| Fixed Assets | 19 | 26 | 27 | 30 | 42 | 50 | 49 | 49 | 65 | 75 |
| CWIP | 0 | 0 | 0 | 1 | 0 | 0 | 0 | 0 | 11 | 1 |
| Investments | 0 | 0 | 0 | 0 | 2 | 0 | 0 | 0 | 0 | 12 |
| Other Assets | 119 | 169 | 203 | 238 | 352 | 363 | 360 | 488 | 761 | 1,055 |
| Total Assets | 138 | 195 | 230 | 269 | 397 | 414 | 409 | 537 | 837 | 1,143 |
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from Operating Activity | 8 | -9 | 37 | 7 | -29 | 17 | 61 | -0 | -19 | -97 |
| Cash from Investing Activity | 8 | -17 | -3 | -2 | -12 | -5 | -1 | -4 | -27 | -21 |
| Cash from Financing Activity | -16 | 30 | -34 | -11 | 50 | -18 | -60 | 28 | 40 | 121 |
| Net Cash Flow | 1 | 3 | 0 | -5 | 9 | -6 | 0 | 24 | -6 | 3 |
| Free Cash Flow | 8 | -27 | 35 | 5 | -38 | 9 | 60 | -4 | -46 | -106 |
| CFO/OP | 54% | -29% | 147% | 39% | -39% | 40% | 97% | 20% | 10% | -8% |
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 1 | 1 | 1 | 0 | 1 | 1 | 0 | 0 | 0 | 0 |
| Inventory Days | 96 | 88 | 89 | 113 | 103 | 79 | 69 | 76 | 87 | 100 |
| Days Payable | 5 | 9 | 25 | 29 | 25 | 14 | 12 | 12 | 21 | 11 |
| Cash Conversion Cycle | 92 | 80 | 66 | 85 | 79 | 66 | 56 | 64 | 66 | 89 |
| Working Capital Days | 78 | 46 | 30 | 20 | 19 | 25 | 29 | 27 | 36 | 48 |
| ROCE % | 15% | 16% | 20% | 22% | 24% | 24% | 27% | 34% | 40% |
| Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Promoters | 75.00% | 75.00% | 75.00% | 75.00% | 73.82% | 73.82% | 75.00% | 75.00% | 74.88% | 74.88% | 74.89% | 74.89% |
| FIIs | 0.00% | 0.00% | 0.00% | 0.06% | 0.13% | 0.20% | 0.20% | 0.21% | 0.23% | 0.22% | 0.32% | 0.23% |
| DIIs | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.05% | 0.05% | 0.01% | 0.01% | 0.00% | 0.00% | 0.00% |
| Public | 25.00% | 25.00% | 25.00% | 24.95% | 26.05% | 25.93% | 24.75% | 24.78% | 24.88% | 24.90% | 24.78% | 24.88% |
| No. of Shareholders | 5,059 | 5,539 | 5,560 | 6,548 | 9,117 | 9,280 | 9,287 | 9,234 | 8,736 | 8,976 | 9,315 | 10,316 |
Fundamentals
Market Cap₹ 3,796 Cr.
Current Price₹ 1,666
Stock P/E15.8
Book Value₹ 277
ROCE39.6 %
ROE40.9 %
Dividend Yield0.00 %
Face Value₹ 10.0
Compounded Sales Growth (TTM)31%
Compounded Profit Growth (TTM)93%
Standalone figures.
Valuation
Market capRs 4,278 Cr
Enterprise valueRs 4,556 Cr
P/E (TTM)17.84x
Price to book6.76x
Price to sales0.98x
EV / EBITDA13.08x
EV / EBIT13.49x
EV / sales1.04x
Earnings yield5.61%
P/E, 3-year average22.53x
P/B, 3-year average6.28x
P/E, 5-year average20.68x
P/B, 5-year average5.73x
Profitability
Operating margin (excl. other income)7.57%
Operating margin (incl. other income)7.69%
EBITDA margin7.96%
Pre-tax margin7.32%
Net profit margin5.48%
Net margin, latest quarter7.56%
ROE40.87%
ROCE39.57%
ROA21.40%
ROE, 3-year average35.13%
ROCE, 3-year average33.44%
ROA, 3-year average16.96%
ROE, 5-year average33.64%
ROCE, 5-year average29.71%
ROA, 5-year average14.37%
ROIC (approx.)27.80%
Tax rate25.06%
Other income / net worth0.82%
Growth
Sales growth (latest year)22.77%
Profit growth (latest year)87.97%
Sales CAGR, 3 years27.23%
Sales CAGR, 5 years27.28%
Profit CAGR, 3 years67.20%
Profit CAGR, 5 years50.47%
Sales growth QoQ-36.14%
Profit growth QoQ27.37%
Sales growth YoY (latest quarter)57.74%
Profit growth YoY (latest quarter)76.96%
Per share
EPS (TTM)Rs 105.07
EPS (latest year)Rs 92.80
EPS (latest quarter)Rs 28.23
EPS, 3-year averageRs 56.78
EPS, 5-year averageRs 41.77
Book value per shareRs 277.12
Sales per shareRs 1,917.46
Cash flow per shareRs -42.63
Free cash flow per shareRs -46.43
Dividend per share, 3-year averageRs 1.00
Dividend per share, 5-year averageRs 1.00
Dividends
Dividend payout, 3-year average3.59%
Dividend payout, 5-year average4.66%
Efficiency
Asset turnover3.55x
Fixed asset turnover54.37x
Inventory turnover3.65x
Inventory days100 days
Debtor days0 days
Debtors turnover2475.54x
Creditor days11 days
Cash conversion cycle89 days
Working capital days48 days
Leverage
Total debtRs 304 Cr
Cash and bankRs 26 Cr
Net debtRs 278 Cr
Debt to equity0.48x
Net debt / EBITDA0.80x
Interest coverage19.32x
Current ratio (filing 2026-03-31)2.14x
Quick ratio (filing 2026-03-31)0.10x
Trade payables (filing 2026-03-31)Rs 114 Cr
Owners' fund to total sources55.36%
Debt to assets26.59%
Cash flow
Cash from Operating Activity (latest year)Rs -97 Cr
Cash from Investing Activity (latest year)Rs -21 Cr
Cash from Financing Activity (latest year)Rs 121 Cr
Net Cash Flow (latest year)Rs 3 Cr
Free cash flow (latest year)Rs -106 Cr
FCFE (approx.: FCF + change in debt)Rs 14 Cr
Cash from ops / profit, 5 years-0.08x
Statement figures
Net sales (TTM)Rs 4,377 Cr
Net sales (latest year)Rs 4,060 Cr
Sales (latest quarter)Rs 852 Cr
Operating profit excl. other income (latest year)Rs 307 Cr
Operating profit (latest quarter)Rs 93 Cr
Other income (TTM)Rs 5 Cr
EBITDA (TTM)Rs 348 Cr
PBDT (TTM)Rs 331 Cr
Profit before tax (TTM)Rs 320 Cr
Tax (latest year)Rs 71 Cr
Net profit (TTM)Rs 240 Cr
Net profit (latest year)Rs 212 Cr
Net profit (latest quarter)Rs 64 Cr
Depreciation (TTM)Rs 11 Cr
Depreciation (latest quarter)Rs 2 Cr
Interest (TTM)Rs 17 Cr
Cost of goods sold (latest year)Rs 3,669 Cr
Total expenditure (latest year)Rs 3,753 Cr
Total income (latest year)Rs 4,065 Cr
Share capitalRs 23 Cr
ReservesRs 610 Cr
Shareholders' fundsRs 633 Cr
Total assetsRs 1,143 Cr
Net blockRs 75 Cr
Capital work in progressRs 1 Cr
InvestmentsRs 12 Cr
ReceivablesRs 2 Cr
InventoryRs 1,004 Cr
Other liabilitiesRs 206 Cr
Shares outstanding (crore)2.28
Ownership
Promoter holding74.89% (-0.11 in a year)
Computed by MarketFriction from the standalone statements. Returns use average balances.
P/E 17.8 is at the 50th percentile of its own 9.1-year range
(median 17.8, low 7.5, high 65.5).
P/B 6.76 is at the 63th percentile (median 5.28).
Monthly. Market cap from split-adjusted price; profit and book value as reported by that month. A low percentile means cheap versus its own history, not cheap versus peers.
| Period | DPABHUSHAN | Nifty 50 | Difference |
|---|---|---|---|
| 1 week | +33.3% | -2.8% | +36.1 pts |
| 1 month | +32.3% | -6.8% | +39.1 pts |
| 3 months | +93.7% | -7.6% | +101.4 pts |
| 6 months | +98.7% | +0.4% | +98.3 pts |
| 1 year | +25.1% | -9.9% | +35.0 pts |
| 2 years | +11.9% | -13.6% | +25.4 pts |
| 3 years | +196.6% | +14.2% | +182.5 pts |
| 5 years | +771.2% | +27.9% | +743.3 pts |
Red flags
F-score 4 of 8| explain | Weak cash conversion Cash from operations was -30% of net profit over the last 3 years |
| explain | High accruals Profit exceeded operating cash by 27% of total assets in 2026 |
| look | On NSE surveillance On NSE surveillance: ASM long-term |
Checks on the latest reported years: cash vs profit, accruals, receivables and inventory vs sales, dilution, debt, interest cover, equity, other income, losses, and auditor, top-management, insolvency and regulator filings in the last 12 months. A flag asks for an explanation; it is not a verdict.
Latest quarter
Jun 2026Sales ₹852 Cr +57.8% vs Jun 2025.
Net profit ₹64 Cr +77.8%.
Activity
Compare| Company | Mcap (Cr) | P/E | ROCE |
|---|---|---|---|
| Titan Company Ltd | 415,040 | 71.1 | 20.5 % |
| Kalyan Jewellers India Ltd | 58,748 | 40.2 | 21.2 % |
| Lalithaa Jewellery Mart Ltd | 20,989 | 22.0 | 38.0 % |
| Thangamayil Jewellery Ltd | 16,177 | 41.2 | 25.5 % |
| PC Jeweller Ltd | 12,976 | 16.7 | 9.60 % |
| Sky Gold & Diamonds Ltd | 12,713 | 38.0 | 27.0 % |
| Bluestone Jewellery & Lifestyle Ltd | 12,315 | 219 | 6.78 % |
| P N Gadgil Jewellers Ltd | 8,612 | 19.2 | 21.0 % |
| Timex Group India Ltd | 7,360 | 82.5 | 82.8 % |
| Ethos Ltd | 6,662 | 63.1 | 10.4 % |
| Senco Gold Ltd | 5,363 | 9.40 | 21.2 % |
| Goldiam International Ltd | 4,861 | 23.0 | 25.8 % |
| KDDL Ltd | 4,836 | 49.3 | 11.7 % |
| Tribhovandas Bhimji Zaveri Ltd | 4,184 | 19.6 | 21.9 % |
| Vaibhav Global Ltd | 3,393 | 11.9 | 16.4 % |
No bulk or block deals on record.
| Ex-date | Action | Factor |
|---|---|---|
| 2023-09-22 | Dividend - Rs 1 Per Share | |
| 2022-09-22 | Dividend - Re 1 Per Share |
No announcements in our files yet.
Company filings to NSE, newest first. Routine notices (trading window, newspaper copies) are left out. Click a row for the filing.
No short selling reported to NSE in our files.
Short sales disclosed by brokers to NSE, by trade date. Collected since late September 2026.
Long Term Additional Surveillance Measure (Long Term ASM): stage 1