National News
GIA India holds graduation ceremony for GIA Graduate Diamonds students
GIA India held the graduation ceremony for GIA Graduate Diamonds Diploma Program students at its Mumbai campus. Devansh Rajesh Shah, Partner, Venus Jewel, was the chief guest at the Mumbai Campus.
GIA India held the graduation ceremony for GIA Graduate Diamonds Diploma Program students at its Mumbai campus. Devansh Rajesh Shah, Partner, Venus Jewel, was the chief guest at the Mumbai Campus.
The graduation ceremony was preceded by an interactive session in which Devansh Shah spoke on the topic “Opportunities in the Natural Diamond Industry.” Sharing his insights with the graduating students, he said, “We deal with natural diamonds – a product that’s high-value – and customers rely on us to provide them with accurate knowledge. Education from institutes like GIA is important to build trust and confidence among consumers about this industry.”
Addressing the students, Apoorva Deshingkar, Senior Director – Education and Market Development, GIA India, said, “I would like to thank Devansh on behalf of GIA India. I would also like to congratulate our GIA Diamond Graduates for this remarkable achievement. The gem and jewelry sector is a highly skill-based field, and our programs provide time-tested skills and the knowledge to ensure our students are industry-ready.”
Aadit Parekh, GIA Diamonds Graduate, said, “I learned about GIA through friends in the industry. As I’m starting my business in diamonds, the knowledge I gained from the program will prove extremely beneficial.”
Pratham Verma, GIA Diamonds Graduate, said, “In addition to teaching me all about diamonds, GIA has also instilled in me the importance of punctuality. I will carry these learnings with me throughout my life.”
Muskan Narula, GIA Diamonds Graduate, said, “I’m not from the gem and jewelry industry, but it has always fascinated me. While researching for educational programs, my friends highly recommended GIA. I have now completed two programs with GIA: my first one was the Comprehensive CAD/CAM for Jewelry Program, and now I have completed my GIA Graduate Diamonds Program. Both these courses were amazing and acquiring these credentials has greatly boosted my confidence.”
National News
P N Gadgil Jewellers Reports 127% Surge in PAT for Q2 FY26; Strong Growth Across Retail, E-commerce, and Franchise Segments
P N Gadgil Jewellers Limited, one of India’s oldest and most trusted jewellery houses with a 193-year legacy, has announced its unaudited consolidated financial results for the quarter ended September 30, 2025 (Q2 FY26), showcasing exceptional performance across key parameters.
The company reported an EBITDA of Rs.1,429.4 million, marking a 117% year-on-year (YoY) increase, and a Profit After Tax (PAT) of Rs.793.1 million, reflecting a 127% YoY growth. Revenue from operations rose to Rs.21,776.2 million, up 8.8% YoY and 27% sequentially (QoQ). EBITDA margin expanded by 327 basis points to 6.6%, while PAT margin improved to 3.6%.
For H1 FY26, total revenue stood at Rs.38,921.8 million, growing 6.1% YoY, with an average revenue per store of Rs.617.81 million and net profit per store of Rs.23.69 million, underscoring strong operational efficiency.
Segmental Highlights
- Retail: Contributed 72.2% of total sales, achieving 28.9% revenue growth, with EBITDA margin at 9.1% and PAT margin at 5.1%.
- E-commerce: Delivered a stellar 113.2% YoY growth, with revenue rising to ₹1,435.1 million.
- Franchise: Registered a 104.7% increase, with revenue reaching Rs.3,408.9 million in Q2 FY26.
- Same-Store Sales Growth (SSSG): Improved by 29% over the previous quarter.
Operational Highlights
- Transaction Volume & Spend: Transaction count grew 18%, while the Average Transaction Value (ATV) increased to Rs.90,000.
- Customer Engagement: Footfall rose 20% with a robust 93% conversion rate, signalling strong consumer sentiment.
- Festive Momentum: Achieved record Navratri sales of ₹4,281 million, up 66% YoY.
- Category Performance: Gold sales rose 24% in value and 15% in volume, Silver surged 92% in value and 59% in volume, while Diamonds recorded a 31% volume rise, lifting the stud ratio to 9%.
Excluding refinery operations, total revenue grew by 31.4% YoY in Q2 FY26 and 30.9% YoY in H1 FY26, highlighting robust growth across all core business segments.
P N Gadgil Jewellers’ strong performance reflects its strategic focus on customer experience, digital growth, and retail expansion, reaffirming its leadership position in India’s jewellery industry.
Commenting on the performance, Dr. Saurabh Gadgil, Chairman & Managing Director, P N Gadgil Jewellers Limited, said, “Our revenue stood at 38,921.8 million, EBITDA at 2,659.8 (up 101.3% YoY), and PAT at ₹1,486.5 million (up 111.6% YoY) in H1 FY26, 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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