Gems & Jewellery company P N Gadgil Jewellers announced Q1FY27 results Consolidated Financial Highlights: Revenue from Operations stood at Rs 24,129.81 million in Q1FY27 compared to Rs 17,145.62 million in Q1FY26, representing a growth of 40.7% YoY. Compared to Rs 35,443.06 million in Q4FY26, it recorded a decline of 31.9% QoQ. Total Income for the quarter was Rs 24,230.22 million in Q1FY27 against Rs 17,274.46 million in Q1FY26 (increase of 40.27% YoY) and Rs 35,754.48 million in Q4FY26 (decrease of 32.23% QoQ). EBITDA was Rs 1,924.1 million in Q1FY27, up 56.6% YoY from Rs 1,228.5 million in Q1FY26 and up 15.7% QoQ from Rs 1,663.3 million in Q4FY26. EBITDA Margin improved to 8.0% in Q1FY27 compared to 7.2% in Q1FY26 and 4.7% in Q4FY26. Profit After Tax was Rs 1,053.35 million in Q1FY27, reflecting a growth of 51.9% YoY from Rs 693.42 million in Q1FY26 and a growth of 16.7% QoQ from Rs 902.56 million in Q4FY26. PAT Margin improved to 4.4% in Q1FY27 from 4.0% in Q1FY26 and 2.5% in Q4FY26. Basic EPS was Rs 7.76 in Q1FY27 compared to Rs 5.11 in Q1FY26 and Rs 6.65 in Q4FY26. Standalone Financial Highlights: Revenue from Operations was Rs 23,805.71 million in Q1FY27 compared to Rs 17,024.17 million in Q1FY26 and Rs 35,306.20 million in Q4FY26. Total Income was Rs 23,905.88 million in Q1FY27 compared to Rs 17,152.56 million in Q1FY26 and Rs 35,618.69 million in Q4FY26. Profit After Tax was Rs 1,028.56 million in Q1FY27 compared to Rs 681.13 million in Q1FY26 and Rs 869.45 million in Q4FY26. Business Highlights: Segment Performance: Retail segment revenue grew 56.4% YoY to Rs 18,851.0 million in Q1FY27. Franchise segment revenue increased 7.9% YoY to Rs 2,906.4 million in Q1FY27. E-commerce segment revenue grew 20.0% YoY to Rs 793.5 million in Q1FY27. Others segment revenue was Rs 1,579.0 million in Q1FY27 compared to Rs 1,738.1 million in Q1FY26. The company achieved a robust Same-Store Sales Growth (SSSG) of 46.1% YoY, driven by healthy customer footfalls and higher transaction volumes. Retail sales share of total revenue increased to 78% in Q1FY27 from 70% in Q1FY26. The retail stud ratio improved to 10.9% from 9.9% in the previous quarter. Product Performance: The diamond category delivered 29% growth in value and 26% growth in volume. The gold category recorded 54% growth in value, and the silver category registered 131% growth in value. Festive Performance: Akshay Tritiya performance saw festive sales increasing 80.3% YoY to Rs 2,514.1 million. The Average Transaction Value (ATV) stood at Rs 92,264, and transaction volumes increased 26.3% YoY. The overall hedge coverage increased to approximately 70% to reduce exposure to gold price volatility. As of June 30, 2026, the company operated 78 stores (77 in India and 1 in the U.S.A.). Underlying Operating Performance: Remaining unhedged inventory resulted in an unhedged gain of Rs 97 million during Q1FY27, compared to Rs 101 million in Q1FY26. Excluding this unhedged gain, Adjusted EBITDA increased to Rs 1,827 million from Rs 1,128 million in the corresponding quarter last year. Commenting on the performance, Saurabh Gadgil, Chairman & Managing Director, P N Gadgil Jewellers, said, "We are delighted to commence FY27 on a strong note, delivering our highest-ever first quarter with revenue of Rs 24,130 million, representing 41% year-on-year growth, while EBITDA increased by 57% & Profit After Tax increased by 52%. This performance reflects the strength of the PNG brand, healthy consumer demand across categories and our continued focus on disciplined execution, operational excellence and customer-centric innovation. Beyond the strong financial performance, we continue to strengthen the quality of our business. Our retail business continues to gain share, while increasing traction in studded jewellery and encouraging customer response to LiteStyle by PNG are supporting a richer product mix. Our recently launched stores across Northern and Central India have demonstrated a meaningfully higher stud ratio, reinforcing our confidence in these markets and validating our expansion strategy. Additionally, our Gold Bars & Coins business continues to strengthen long-term customer engagement, with an increasing proportion of GBC purchases being converted into jewellery. Looking ahead, our focus remains on disciplined expansion, with a healthy store rollout pipeline for the remainder of the year, particularly across high-potential markets in North India. We also remain committed to further strengthening our risk management framework by progressively increasing hedge coverage, enhancing earnings stability as we scale. Backed by our 194-year legacy, trusted brand and execution capabilities, we remain confident of sustaining profitable growth and creating long-term value for all our stakeholders." Result PDF
Gems & Jewellery company P N Gadgil Jewellers announced Q4FY26 & FY26 results Consolidated Financial Highlights: Revenue from Operations: Q4FY26: Stood at Rs 35,443.06 million, reflecting a QoQ increase of 7.32% compared to Rs 33,026.07 million in Q3FY26, and a robust YoY growth of 123.16% against Rs 15,882.24 million in Q4FY25. FY26: Reported at Rs 1,07,390.97 million, registering a YoY growth of 39.59% from Rs 76,934.68 million in FY25. Total Income: Q4FY26: Reached Rs 35,754.48 million, marking a QoQ growth of 7.37% from Rs 33,300.21 million in Q3FY26, and a 123.03% YoY jump from Rs 16,031.49 million in Q4FY25. FY26: Stood at Rs 1,08,271.79 million, an increase of 40.20% YoY compared to Rs 77,226.19 million in FY25. Profit Before Tax: Q4FY26: Recorded at Rs 1,219.01 million, showing a QoQ decline of 46.55% from Rs 2,280.84 million in Q3FY26, but a YoY increase of 44.15% from Rs 845.62 million in Q4FY25. FY26: Reached Rs 5,518.63 million, marking a YoY growth of 88.28% from Rs 2,931.05 million in FY25. Net Profit for the Period/Year (PAT): Q4FY26: Stood at Rs 902.56 million, down 47.19% QoQ from Rs 1,709.11 million in Q3FY26, but up 45.60% YoY from Rs 619.91 million in Q4FY25. FY26: Surged to Rs 4,098.20 million, demonstrating a strong YoY growth of 87.76% compared to Rs 2,182.68 million in FY25. Standalone Financial Highlights: Revenue from Operations: Q4FY26: Stood at Rs 35,306.20 million, an increase of 8.52% QoQ from Rs 32,533.43 million in Q3FY26, and a YoY jump of 124.27% from Rs 15,742.46 million in Q4FY25. FY26: Reported at Rs 1,06,407.38 million, registering a YoY growth of 39.45% from Rs 76,305.49 million in FY25. Total Income: Q4FY26: Reached Rs 35,618.69 million, representing a QoQ growth of 8.57% from Rs 32,806.54 million in Q3FY26, and a 124.15% YoY increase from Rs 15,890.73 million in Q4FY25. FY26: Stood at Rs 1,07,287.10 million, an increase of 40.16% YoY compared to Rs 76,544.25 million in FY25. Profit Before Tax: Q4FY26: Recorded at Rs 1,185.85 million, demonstrating a QoQ decline of 46.85% from Rs 2,231.23 million in Q3FY26, but up 39.58% YoY from Rs 849.56 million in Q4FY25. FY26: Reached Rs 5,426.70 million, marking a YoY growth of 87.43% from Rs 2,895.25 million in FY25. Net Profit for the Period/Year (PAT): Q4FY26: Stood at Rs 869.45 million, down 47.71% QoQ from Rs 1,662.74 million in Q3FY26, but up 39.37% YoY from Rs 623.86 million in Q4FY25. FY26: Surged to Rs 4,010.37 million, recording an 86.63% YoY increase compared to Rs 2,148.78 million in FY25. Business & Operational Highlights: Segment-wise Performance: The Chief Operating Decision Maker (CODM) of the Company examines the performance from the perspective of the Company as a whole (viz. 'Jewellery business'). Hence, there are no separate reportable segments as per Ind AS 108. IPO & Fund Utilization: The Company completed its Initial Public Offer (IPO) during the year and listed its shares on September 17, 2024. The Company allotted 1,77,08,333 equity shares at Rs 480 per share, aggregating Rs 8,500.00 million. The entire amount of Rs 8,500.00 million has been fully utilized as follows: Rs 3,925.68 million for funding expenditure towards setting-up of 12 New Stores in Maharashtra. Rs 3,000.00 million for repayment or pre-payment of certain borrowings. Rs 1,108.62 million for General Corporate Purposes. Rs 465.70 million for issue-related expenses. Exceptional Items (Regulatory Impact): Consequent to the implementation of the New Labour Codes (effective November 21, 2025), the Company recorded an estimated one-time increase in its provision for employee benefits amounting to Rs 33.92 million. This has been recognized in the current reporting period and disclosed as an exceptional item. Key Appointments: The Board of Directors approved the appointment of Mrs. Riya Shah as the Internal Auditor of the Company for the FY27. Saurabh Gadgil, Chairman & Managing Director, P N Gadgil Jewellers, said: “FY26 was a defining year for P N Gadgil Jewellers as the Company crossed the Rs 100,000 million revenue milestone for the first time, delivering consolidated revenue of Rs 107,391 million, reflecting a strong growth of 39.6% YoY. The year witnessed healthy momentum across markets despite elevated gold prices, supported by strong wedding and festive demand, new collections, and increasing consumer preference for lightweight and studded jewellery. Profitability improved significantly during the year, with EBITDA rising 89.6% YoY to Rs 7,040 million and Profit After Tax increasing 87.8% YoY to Rs 4,098 million, driven by a favourable product mix, higher contribution from studded jewellery, operating leverage, and disciplined cost management. Retail continued to remain the primary growth driver, recording strong YoY growth of 50.5%, while the Franchise and E-commerce segments grew by 83.0% and 105.2% respectively, reflecting continued brand strength and strong omni-channel execution. The Company continued to execute its expansion strategy during the year, with one of the key operational highlights being its entry into Madhya Pradesh, Uttar Pradesh, and Bihar, along with continued expansion across Maharashtra, in line with its aspiration to emerge as a leading pan-India jewellery player. During FY26, the Company expanded its store footprint to 78 stores, further strengthening its presence across key highpotential markets.” Result PDF
Conference Call with P N Gadgil Jewellers Management and Analysts on Q3FY26 Performance and Outlook. Listen to the full earnings transcript.
Gems & Jewellery company P N Gadgil Jewellers announced Q3FY26 results Revenue: Rs 33,026.1 million against Rs 24,357.5 million during Q3FY25, change 36%. EBITDA: Rs 2,717.1 million against Rs 1,297.7 million during Q3FY25, change 109%. EBITDA Margin: 8.2% for Q3FY26. PAT: Rs 1,709.1 million against Rs 860.4 million during Q3FY25, change 99%. PAT Margin: 5.2% for Q3FY26. EPS: Rs 12.59 for Q3FY26. Saurabh Gadgil, Chairman & Managing Director, P N Gadgil Jewellers, said: “The quarter witnessed strong momentum, supported by healthy Festive and wedding-led demand. Revenue from operations increased 35.6% YoY to Rs 33,026 million in Q3FY26, despite gold price volatility. Demand remained broad-based across core markets, led by gold jewellery, new designs and an increasing preference for lightweight and studded jewellery, supported by strong brand recall and customertrust. Profitability improved significantly during the quarter, with PAT rising 98.6% YoY to Rs 1,709 million, supported by a favorable product mix, higher contribution from Studded jewellery, along with disciplined cost management, resulted in meaningful margin expansion. Retail continued to be the primary growth driver, complemented by strong growth in e-commerce and steady performance in the franchise segment. The Company continued to execute its expansion strategy with the addition of three new company-owned stores this quarter at Moshi (Pimpri-Chinchwad), Patna (Bihar), and Viman Nagar under the LiteStyle format, taking the Company’s total retail footprint to 66 stores as of December 2025. Going ahead, management remains focused on driving same-store sales growth, maintaining healthy inventory turns, and sustaining profitable growth,supported by continued upcoming festive & wedding led demand.” Result PDF