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Gargi by P. N. Gadgil & Sons Closes FY25 with ₹126.3 Cr Revenue, Net Profit Up 240%; Board Approves Fundraise of ₹15 Cr

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Gargi by P. N. Gadgil & Sons reported a strong close to the financial year 2024–25, posting a total income of ₹128.4 crore, up from ₹51.1 crore in FY24. Net profit after tax surged to ₹28.8 crore, a sharp increase from ₹8.4 crore last year, marking a 240% year-on-year jump.

The performance comes on the back of an expanded retail footprint and an operational transition to a more scalable model. As of March 31, 2025, the company operates 33 franchised stores, 51 Shop-in-Shop (SIS) outlets, and 14 exclusive brand stores.

In a strategic move to fuel future growth, the Board of Directors has approved raising to ₹15 crore through permissible instruments, including equity shares, qualified institutional placements (QIP), preferential allotments, rights issues, or a combination thereof, subject to regulatory and shareholder approvals.

Speaking about this, Aditya Modak, co-founder of Gargi by P N Gadgil & Sons, said, “FY25 was a transformative year, not only in terms of growth but in the way we structure and scale our business. The shift to a FOFO model is a long-term strategic decision, and the results have validated our direction. We are now focused on deepening distribution and leveraging operational efficiencies across our franchise and SIS formats.”

Notably, FY25 also marked the transition of the SIS operations from a FOCO (Franchisee Operated Company Owned) model to a FOFO (Franchisee Owned Franchisee Operated) model. Under the new structure, the company now sells goods directly to the franchisee, who sells to end customers, enabling a leaner inventory and capital model.

The change in model makes current-year figures non-comparable with earlier periods. Still, an internal reconciliation exercise indicates that if the earlier FOCO model had continued, the company would have recorded ₹82.4 crore in end-customer sales and a potential profit before tax of ₹23.3 crore.

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National News

Rakhi Gifting, Reimagined: Ethical Sparkle from Lucira

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This Raksha Bandhan, go beyond the ordinary. Celebrate the unbreakable bond you share with your sister with a piece of jewelry that mirrors her strength, grace, and brilliance. Discover Lucira’s exquisite collection — timeless treasures, made with love.

1. Teardrop Aqua Gemstone with Diamond Pendant Necklace

This elegant necklace showcases a radiant teardrop-shaped aqua gemstone, exuding calm and clarity. Sparkling diamonds frame and accent the pendant, adding a touch of brilliance. Set in refined metal, it’s the perfect piece to elevate both every day and special occasion looks.

2. Graceful Pear Cut Diamond Earrings

These elegant earrings feature pear-cut diamonds that beautifully capture and reflect light. Their elongated silhouette adds graceful movement and radiant sparkle.

Perfect for elevating any look with timeless sophistication.

3. Marquise Cut Diamond Cluster Stud Earrings

A pair of elegant stud earrings featuring a marquise-cut diamond centre stone with a cluster of smaller diamonds surrounding it. The earrings are set in a classic rose gold setting.



4. Gold Diamond Loop Earrings

These elegant gold loop earrings feature a delicate line of sparkling diamonds, adding a touch of brilliance to their classic design. The sleek, circular silhouette offers a modern yet timeless appeal, perfect for both everyday sophistication and special occasions. Lightweight and versatile, they’re a must-have for any jewelry collection.

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National News

GJEPC Gujarat Hosts Tech Seminar on 3D Printing and Electroplating for Jewellery Industry

The event attracted over 250 participants, including manufacturers, exporters, and retailers from the gems and jewellery sector.

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The Gujarat Regional Office of the Gem & Jewellery Export Promotion Council (GJEPC), in partnership with the Gems & Jewellery Association Rajkot and Injewel Association, organized a technology seminar in Rajkot titled Masterclass in 3D Printing & Cost-Effective Electroplating Solutions for Gold & Silver.”

Jayantibhai Savaliya, Regional Chairman of GJEPC Gujarat, emphasized the importance of adopting new technologies to stay competitive in the market. The seminar featured expert presentations from Raj Soni, Founder of Edutech3D, who shared insights on advanced 3D jewellery design techniques, and Kaushik Soni, Head of Business Development at Hinglaj Electroplating Pvt. Ltd., who offered practical approaches for achieving quality and cost-efficiency in electroplating.

Additionally, Rajat Wani, Assistant Director (Gujarat), GJEPC, outlined key council initiatives including export support, policy advocacy, trade exhibitions, membership benefits, and the SAJEX platform.

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National News

New regulations on hallmarking of gold coins announced

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The government unveiled new regulations covering gold coins. The following are updates were announced:

  • Gold coin of 999 purity and 995 purity, If made by refiners / mint, are not required to be hallmarked. It is exempt from hallmarking as per the order dated January 15, 2020.
  • Gold coin of 995 purity can be made by jewelers, but the same is required to be hallmarked by hallmarking agency. this hallmarking is required as gold coin of 995 purity will be categorized as jewellery.
  • Gold coin of 999 purity can be made by jewellers, but same will be certified and hallmarked as 995 purity coins. This will be certified and hallmarked as 995 purity only, as the hallmarking centers are not capable to hallmark 999 purity. These will also be categorized as jewellery.

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