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P N Gadgil Jewellers Results: Latest Quarterly Results & Analysis

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P N Gadgil Jewellers Ltd. 12 Nov 2025 16:43 PM
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Q2FY26 Quarterly Result Announced for P N Gadgil Jewellers Ltd.

Gems & Jewellery company P N Gadgil Jewellers announced Q2FY26 results

  • Revenue from Operations: Rs 21,776.2 million against Rs 20,013.1 million during Q2FY25, change 8.8%.
  • EBITDA: Rs 1,429.4 million against Rs 658.8 million during Q2FY25, change 117.0%.
  • EBITDA Margin: 6.6% for Q2FY26.
  • PAT: Rs 793.1 million against Rs 349.2 million during Q2FY25, change 127.1%.
  • PAT Margin: 3.6% for Q2FY26.
  • EPS: Rs 5.84 for Q2FY26.

Saurabh Gadgil, Chairman & Managing Director, P N Gadgil Jewellers, said: “Our revenue stood at 38,921.8 million, EBITDA at 2,659.8 (up 101.3% YoY), and PAT at Rs 1,486.5 million (up 111.6% YoY) in H1FY26, supported by healthy growth across all segments, led primarily by the Retail business. Our signature events, Mangalsutra Mahotsav and Paijan Mahotsav, received an exceptional customer response, while record-breaking Navratri sales of Rs 4,281 million provided a strong close to the quarter’s performance. During the quarter, we also launched a flagship store in Dadar, Mumbai, further strengthening our presence in Maharashtra, and expanded beyond our home state, entering new markets in Uttar Pradesh and Madhya Pradesh. With Dussehra, Diwali, and the upcoming wedding season in the subsequent quarter, we remain optimistic about sustaining this growth momentum.”

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Gems & Jewellery company P N Gadgil Jewellers announced Q1FY26 results

  • Revenue from Operations: Rs 17,145.6 million compared to Rs 16,681.8 million during Q1FY25, change 2.8%.
  • EBITDA: Rs 1,228.5 million compared to Rs 662.6 million during Q1FY25, change 85.4%.
  • EBITDA Margin: Rs 7.2% for Q1FY26.
  • PAT: Rs 693.4 million compared to Rs 353.2 million during Q1FY25, change 96.3%.
  • PAT Margin: Rs 4.0% for Q1FY26.
  • EPS: Rs 5.12 for Q1FY26.

Saurabh Gadgil, Chairman & Managing Director, PN Gadgil Jewellers, said: “This has been a good quarter for us. We recorded revenue of Rs 17,145.6 million, EBITDA of Rs 1,228.5 million, up 85.4% from last year, and PAT of Rs 693.4 million, also up 96.3% YoY. The growth has come from retail expansion, an increase in the studded portion, and better cost discipline. Even with gold price volatility and a challenging market environment, we are seeing healthy traction across our retail network and have improved profitability through better operational efficiency. We will continue to build on this momentum, staying true to our promise of quality and design, and creating value for our customers and shareholders in the quarters ahead.”

Result PDF

Gems & Jewellery company P N Gadgil Jewellers announced Q4FY25 & FY25 results

Q4FY25 Financial Highlights:

  • Revenue from Operations in Q4FY25 was Rs 15,882.24 million, an increase of 5.0% compared to Rs 15,120.16 million in Q4FY24.
  • EBITDA in Q4FY25 was Rs 1,090.43 million, an increase of 19.7% compared to Rs 911.16 million in Q4FY24.
  • EBITDA Margin in Q4FY25 was 6.9%, an increase of 90 basis points compared to 6.0% in Q4FY24.
  • Profit After Tax in Q4FY25 was Rs 619.90 million, an increase of 12.9% compared to Rs 549.30 million in Q4FY24.
  • PAT Margin in Q4FY25 was 3.9%, an increase of 30 basis points compared to 3.6% in Q4FY24.
  • Basic EPS in Q4FY25 was Rs 4.57, compared to Rs 7.68 in Q4FY24.

FY25 Financial Highlights:

  • Revenue from Operations for FY25 was Rs 76,934.68 million, an increase of 25.9% compared to Rs 61,120.22 million in FY24.
  • EBITDA for FY25 was Rs 3,709.54 million, an increase of 33.2% compared to Rs 2,785.03 million in FY24.
  • EBITDA Margin for FY25 was 4.8%, an increase of 20 basis points compared to 4.6% in FY24.
  • Profit After Tax for FY25 was Rs 2,182.68 million, an increase of 40.7% compared to Rs 1,551.49 million in FY24.
  • PAT Margin for FY25 was 2.8%, an increase of 30 basis points compared to 2.5% in FY24.
  • Basic EPS for FY25 was Rs 17.10, compared to Rs 21.70 in FY24.

Commenting on the performance, Saurabh Gadgil, Chairman & Managing Director, P N Gadgil Jewellers, said, “Our Q4 and full-year FY25 performance reflects the strength of our brand, the trust of our customers, and our relentless focus on execution across formats. We have delivered strong growth across all key segments: retail, e-commerce, and franchise driven by our differentiated customer experience, focused expansion, and digital-first approach. We successfully achieved our target store count of 53 by the end of FY25, reinforcing our commitment to strategic growth and deeper market penetration. Despite elevated gold prices during the quarter, we witnessed resilient consumer sentiment and robust demand, underscoring the strength of our brand proposition. With a solid foundation in place, we are well-positioned to build on this momentum and continue creating long-term value for all our stakeholders.

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Gems & Jewellery company P N Gadgil Jewellers announced Q3FY25 results

  • The company achieved its highest-ever revenue of Rs 10,500 million in a single month in Oct-24 and total revenue of Rs 24,357.51 million in Q3FY25.
  • EBITDA: Rs 1,297.70 million compared to Rs 945.80 million during Q3FY24, change 37.2%.
  • EBITDA margin: 5.3% for Q3FY25.
  • PAT: Rs 860.38 million compared to Rs 576.04 million during Q3FY24, change 49.4%.
  • PAT margin: 3.5% for Q3FY25.
  • EPS: Rs 6.34 for Q3FY25.

Saurabh Gadgil, Chairman & Managing Director, P N Gadgil Jewellers, said: “Our strong Q3FY25 performance reflects the continued trust of our customers and the strength of our retail presence. With record-high monthly revenue, robust same-store sales growth, and increasing customer engagement, we remain focused on enhancing our offerings and expanding our footprint. The successful launch of nine showrooms across nine consecutive days during Navratri underscores our commitment to growth, taking our store count to 48, with plans to reach 53 by Q4FY25. The growth in all segments-retail, ecommerce, and franchise-reinforces our strategy and positions us well for sustained momentum in the coming quarters.”

Result PDF

Gems & Jewellery company P N Gadgil Jewellers announced H1FY25 & Q2FY25 results

Q2FY25 Financial Highlights:

  • Total revenue for Q2FY25 reached Rs 20,013.10 million, up from Rs 13,715.12 million in Q2FY24.
  • EBIDTA of Rs 658.83 million, compared to Rs 474.63 million for Q2FY24 marking an increase of 39%.
  • Retail revenue for Q2FY25 grew to Rs 12,195.05 million, reflecting a 37% increase from Rs 8,880.30 million in Q2FY24. Retail EBIDTA rose to Rs 681.69 million, a 55% growth from Rs 438.66 million in the Q2FY24.
  • Retail PAT also showed strong growth, reaching Rs 372.28 million, up 91% from Rs 195.32 million in Q2FY24.

H1FY25 Financial Highlights:

  • Revenue in H1FY25 increasing to Rs 965.84 million, a 95% rise from Rs 496.23 million in H1FY24.
  • Franchise revenue also grew to Rs 2,941.12 million, up 48% from Rs 1,990.63 million in the H1FY24.
  • Revenue per store for H1FY25 increased to Rs 941 million, up 18% from Rs 796 million in H1FY24. Branch?wise profitability grew significantly, reaching Rs 18.01 million, a 35% increase from Rs 13.36 million in H1FY24.
  • The average transaction value (ATV) rose by 22%, increasing to Rs 93,919 from Rs 76,813 in the H1FY24.

Saurabh Gadgil, Chairman and Managing Director of P N Gadgil Jewellers, said: “The second quarter of FY25 has been highly rewarding, marked by strong operating performance across all our markets despite significant volatility in gold prices. Q2FY25 surpassed expectations, establishing a solid foundation for growth, with demand levels exceeding those of Q2FY24.

One of the most notable milestones this quarter was ourstrong debut on the stock market on September 17, 2024. Our shares listed at Rs 830 on the National Stock Exchange, an impressive 72.91% premium over the issue price of Rs 480 per share. On the Bombay Stock Exchange (BSE), the shares opened at Rs 834, marking a 73.75% premium. This reflects the trust and confidence our stakeholders have in PNG Jewellers' legacy, growth potential, and future vision.

Several factors shaped this successful quarter. The reduction in gold import duty announced in the union budget was a pivotal development. Lowering the import duty for gold and silver to 6% and platinum to 6.4% aligned with industry demands and positively impacted consumption, helping moderate prices that had previously reached record highs. This move has not only supported the growth of the organized sector but also provided much?needed relief to consumers while enhancing market transparency and curbing illegal smuggling activities.

Additionally, the festive season, which included Ganesh Utsav, Janmashtami, and Raksha Bandhan, drove strong gold demand and consumer engagement. We also saw a phenomenal response to our Maha Mangalsutra Mahotsav and Painjain Mahotsav which further boosted sales and strengthened our market position. Collectively, these factors along with our successful stock market debut, contributed to the strong operating performance we achieved in Q2FY25”

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