P N Gadgil Jewellers Reports Q4 FY26 Results: Revenue Rises 40% YoY

P N Gadgil Jewellers Reports Q4 FY26 Results: Revenue Rises 40% YoY​

P N Gadgil Jewellers Limited announced its quarterly update for Q4 FY26, reporting an overall revenue of ₹10,744 crore, representing a 40% year-over-year (YoY) increase. The company noted that an outstanding fourth quarter was a significant driver of this growth, with total revenue increasing by 124% YoY during the quarter.

Quarterly Revenue Highlights​

The financial performance for the quarter under review showed substantial growth across key segments. Total revenue excluding the other segment grew by 104% YoY. The detailed consolidated revenue figures are presented below:


The Other segment primarily comprises B2B bullion sales from the Head Office and the corporate segment.

Growth in Retail and Non-Retail Verticals​

The Retail segment showed robust demand, recording 102% YoY growth in Q4 FY26, largely attributed to the wedding and festive season. Growth in non-retail areas was also strong, with Franchise Operations increasing by 132% YoY and E-commerce seeing a 67% YoY increase.

Festive and event sales contributed significantly during the period. Foundation Day sales amounted to ₹365 crore. Following this, Gudi Padwa sales reached ₹171 crore, reflecting a 38% YoY growth. Gratitude Day sales, marking the milestone of ₹10,000 crore, stood at ₹225 crore.

Product Mix and Sales Metrics​

Despite rising gold prices, the company recorded positive traction in volumes. The gold category volume increased by 27% YoY. Moreover, silver and diamond volumes rose 37% YoY and 125% YoY, respectively, boosting the studded jewellery mix and elevating the stud ratio to 9%.

The same-store sales growth (SSSG) for the quarter was reported at a strong 86% YoY, indicating sustained customer traction at existing locations.

Operational Expansion and Credit Ratings​

In terms of store expansion, the company added 8 COCO stores (3 Legacy and 5 LiteStyle) and 4 FOCO stores (1 Legacy and 3 LiteStyle) during the quarter. These additions brought the total store count to 78 as of March 31, 2026. This total comprises 57 COCO stores (48 Legacy and 9 LiteStyle) and 21 FOCO stores (17 Legacy and 4 LiteStyle).

This expansion effort helped strengthen the company's presence in Maharashtra and facilitated entry into new markets in Uttar Pradesh through openings in Gorakhpur and Varanasi.

On the credit rating front, the company's long-term rating was upgraded to IND A+/Stable from IND A during the quarter. The short-term rating was reaffirmed at IND A1.

Outlook for FY27​

For the fiscal year 2027, P N Gadgil Jewellers plans to sustain its expansion momentum by opening 25 new stores. The strategic focus remains on scaling franchise formats alongside company-owned stores, which is expected to take the total store count to 103 by the end of the fiscal year. The company is targeting revenue of ₹13,500 crore for FY27, which implies a 25% YoY growth and an EBITDA margin of 7.5%.

Established in 1832, P N Gadgil Jewellers Limited maintains a heritage of approximately 194 years. The company offers gold, silver, diamond, and platinum jewellery for various occasions. As of March 31, 2026, the company operates 78 retail stores, with 77 located in India and one in the U.S.A. Under the leadership of Chairman & Managing Director Dr. Saurabh Gadgil, a sixth generation entrepreneur, the firm operates the contemporary brand alongside its dedicated sub-brand, Litestyle by PNG.

PNGJL Stock Price Movement​

Shares of P N Gadgil Jewellers Limited are gaining momentum, edging up 3.86% at 11:24 AM, marking a rise of ₹23.15 in live trading. The stock action sees significant activity today, with 223,840 shares transacted so far in the ongoing market session.

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