P N Gadgil Jewellers gains on solid Q4 business update

The retail segment recorded 102% YoY growth in Q4 FY26, driven by strong demand during the wedding and festive season. Franchise operations grew by 132% YoY, while E-commerce recorded a 67% YoY increase.

Despite rising gold prices, volumes saw positive traction with the gold category increasing by 27% YoY, while silver and diamond volumes rose 37% YoY and 125% YoY, respectively, driving the studded jewellery mix and taking the stud ratio to 9%.

The same-store sales growth (SSSG) for the quarter stood at a robust 86% YoY, reflecting strong customer traction across existing locations.

During the quarter, Foundation Day sales stood at Rs 365 crore, while Gudi Padwa sales came in at Rs 171 crore, reflecting a 38% YoY growth. Subsequently, Gratitude Day sales stood at Rs 225 crore during the quarter.

During the quarter, the company added 8 COCO stores (3 Legacy and 5 LiteStyle) and 4 FOCO (1 Legacy and 3 LiteStyle), taking the total store count to 78 as of March 31st, 2026, comprising 57 COCO stores (48 Legacy and 9 LiteStyle) and 21 FOCO (17 Legacy and 4 LiteStyle).

The company delivered an exceptional performance in FY26, reporting revenue of Rs 10,744 crore, up 40% YoY.

On the outlook for FY27, the company said it plans to maintain its expansion momentum, with the addition to open 25 new stores, with a strong strategic focus on scaling franchise formats, alongside company-owned stores. The company expects its total store count to 103 by the end of the fiscal year. It is targeting revenue of Rs 13,500 crore, implying a growth of 25% YoY and an EBITDA margin of 7.5%.

P N Gadgil Jewellers is one of the oldest jewellery companies in India, with customers across India and the USA. The company offers a wide range of gold, silver, diamond, and platinum jewellery for weddings, festivals, and daily wear. The porƞolio also includes a dedicated sub-brand, Litestyle by PNG, catering to the growing demand for stylish and lightweight jewellery.

On a consolidated basis, the company's net profit rose 98.64% to Rs 170.91 crore while net sales rose 35.59% to Rs 3302.61 crore in Q3 December 2025 over Q3 December 2024.