DP Abhushan BSE Listing, DP Abhushan Share Price: DP Abhushan is poised to debut on the Main Board of the Bombay Stock Exchange (BSE) on April 15, 2024. The Chief Guest for the event is Atul Save, the Minister of Housing for Maharashtra. The listing ceremony is scheduled to commence at 8:30 AM at the BSE International Convention Hall, located on Dalal Street, Fort Mumbai.
The occasion will be graced by luminaries from the jewelry industry, including IBJA President Prithviraj Kothari, GJEPC Chairman Vipul Shah, and GJC Chairman Saiyam Mehra. The company is already listed on NSE. On Friday, DP Abhushan’s share price surged by 11.5%, closing at Rs 1121 on NSE.
Gold Price Today had a conversation with Anil Kataria, the Whole Time Director of the company, who expressed his immense satisfaction with the prospect of listing on the Main Board of BSE.
Madhya Pradesh based DP Abhushan (DP Jewellers), an 80-year-old company, operates across eight locations and boasts a workforce of over 500 employees. It stands as one of the largest jewelry companies in Central India, listed on both the NSE and BSE. Recently, D. P. Abhushan Ltd. received an in-principal approval for its direct listing on the BSE. This strategic move is aimed at expanding the company’s market presence, as stated in a company release. With its current presence on the NSE, DP Abhushan operates four showrooms in Madhya Pradesh (Ratlam, Bhopal, Indore, Ujjain) and four in Rajasthan (Udaipur, Banswara, Kota, and Bhilwara).
DP Abhushan has strategic plans to expand into Chhattisgarh and Gujarat while also bolstering its presence in existing states by inaugurating 2-3 stores annually. Leveraging a weighted average cost method for inventory hedging allows the company to maintain lower inventory costs compared to market prices. Operating in tier 2 and tier 3 cities enables DP Abhushan to streamline expenses and benefit from more cost-effective logistics for inventory movement. GJC congratulates DP Jewellers on BSE Listing.
Founded in 1940 in Ratlam, Madhya Pradesh, D.P. Jewellers has evolved into a prominent player in the jewelry industry. Initially established as a partnership firm in 2003, the company transitioned into a full-fledged entity in 2017. DP Jewellers has since emerged as the largest Jewelry Retail Chain in Central India. With a strategic presence in key cities such as Ratlam, Indore, Udaipur, Bhopal, Ujjain, Bhilwara, Kota, and Banswara, the company has established itself as a premier destination for discerning customers. Renowned for its dedication to quality, craftsmanship, and customer service, DP Jewellers has become a trusted name synonymous with tradition and innovation in the jewelry market.
The standalone quarterly figures for D. P. Abhushan are as follows: Net Sales amounted to Rs 765.46 crore in December 2023, marking a notable increase of 13.94% from Rs. 671.82 crore in December 2022. Quarterly Net Profit stood at Rs. 16.71 crore in December 2023, reflecting a decline of 14.54% from Rs. 19.56 crore in December 2022. EBITDA reached Rs. 29.03 crore in December 2023, registering a decrease of 7.58% from Rs. 31.41 crore in December 2022.
The timeline of DP Abhushan Limited’s journey unfolds as follows:
1940: The journey begins with the inception of D.P. Jewellers.
2010: Continuing the journey, the Indore showroom is opened.
2012: Expansion continues with the inauguration of the Udaipur showroom.
2015: The Bhopal showroom joins the journey.
2017: A milestone is reached as DP Abhushan is listed on NSE-SME.
2020: Advancing further, new showrooms are established in Ujjain and Bhilwara, accompanied by migration to the main board of NSE.
2021: The journey sees Kota witnessing the inauguration of a new showroom.
2022: Momentum persists with the opening of a new showroom in Banswara.
2023: Adding another dimension, the franchise program is launched.
2024: The journey reaches a new height with the listing on BSE, marking a significant milestone in DP Abhushan’s history.