P N Gadgil Jewellers Q3 FY26 Update: Festive Demand Powers 46 Percent Revenue Growth, Diwali Sales Hit Record High

Pune, January 8, 2026: P N Gadgil Jewellers Limited (BSE: 544256 | NSE: PNGJL) reported a robust operating performance in the December quarter, supported by strong festive and wedding season demand. The company posted sharp year-on-year growth across its core retail and digital channels, with Diwali emerging as the strongest festive period in its history.

Strong Consolidated Revenue Performance​

During Q3 FY26, consolidated revenue rose sharply, led by the retail business, which continued to remain the primary growth driver.

Consolidated Revenue Snapshot (₹ crore)​

Retail operations accounted for 83.2 percent of total revenue and delivered 46 percent growth over the same quarter last year, reflecting sustained consumer demand for gold and studded jewellery during the peak festive season.

Segment-Wise Performance​

The company witnessed broad-based growth across non-retail channels as well.

• E-commerce revenue surged 138 percent year-on-year, contributing 5.1 percent to total revenue.
• Franchisee operations recorded 12 percent YoY growth and accounted for 7.7 percent of overall revenue.
• The other segment, largely comprising B2B bullion sales, contributed around 4 percent of quarterly revenue.

Record Festive and Monthly Sales​

Festive-led buying remained a key catalyst for growth during the quarter.

• Dussehra sales stood at ₹190 crore, marking a 64 percent YoY increase.
• Dhanteras sales reached ₹277 crore, the highest single-day festive sales achieved by the company to date.
• Total Diwali sales aggregated ₹606 crore, up 74 percent YoY.
• October 2025 emerged as the strongest-ever month, with revenue of ₹1,807 crore, reflecting a 72 percent YoY jump.

Product Mix and Store-Level Growth​

The contribution of studded jewellery continued to improve, with the stud ratio rising to 8.4 percent during the nine months ended December 2025, representing a 52 percent YoY increase in studded jewellery contribution. Same-store sales growth for Q3 FY26 stood at a healthy 32 percent, indicating strong demand across mature outlets.

Store Expansion and Network Strength​

During the quarter, P N Gadgil Jewellers added three exclusive company-owned stores, taking its total retail footprint to 66 outlets as of December 31, 2025. The network includes 65 stores in India and one store in the United States.

Outlook for FY26​

The company continues to focus on aggressive store expansion. Management plans to open 12 to 14 new outlets in Q4 FY26 through a mix of company-owned and franchise-operated formats. This expansion is expected to take the total store count to 78–80 by the end of the financial year, strengthening the brand’s presence across key consumption markets.

Share Price Snapshot​

Shares of P N Gadgil Jewellers Limited were trading firm in early trade on Thursday, reflecting a positive market response to the company’s strong Q3 FY26 operational update.

As of 11:16 am IST on January 8, 2026, the stock was trading at ₹646.90, up ₹7.05 or 1.10 percent from its previous close of ₹639.85. The stock opened at ₹640.00 and moved in an intraday range of ₹635.00 to ₹654.00. The volume-weighted average price (VWAP) stood at ₹645.52, indicating sustained buying interest during the session.

About the Company​

Founded in 1832, P N Gadgil Jewellers Limited is one of India’s oldest jewellery retail brands with nearly two centuries of heritage. The company offers gold, silver, diamond, and platinum jewellery across weddings, festivals, and everyday wear. It also operates the lifestyle-focused sub-brand Litestyle by PNG. Under the leadership of Chairman and Managing Director Dr. Saurabh Gadgil, the company has evolved into a modern, trusted jewellery retailer with a growing national and international footprint.

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