National News

GJEPC and PCCCC Meet to Address Customs Clearance Challenges

On 5th February 2025, the Gem and Jewellery Export Promotion Council (GJEPC) hosted a significant meeting at its head office in Mumbai, bringing together Customs House Agents (CHAs) from the Precious Cargo Customs Clearance Centre (PCCCC) and various other stakeholders.

Published

1 year ago

February 10, 2025

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The primary focus of the meeting was to address the ongoing challenges faced in the export and import clearance process, particularly the daily operational hurdles encountered during parcel clearance with customs officials.

The meeting provided a platform for participants to engage in open dialogue and share the various difficulties they face while managing customs procedures. These included issues related to the timeliness of clearance, paperwork discrepancies, communication gaps, and other operational bottlenecks that often delay the smooth transit of goods. The participants discussed these challenges in detail, aiming to identify practical solutions to streamline the entire process.

In response to the discussions, GJEPC has requested all involved stakeholders to compile and submit a comprehensive report outlining the specific challenges faced in customs clearance, as well as providing suggestions for potential system improvements. These reports are expected to play a crucial role in identifying areas that require attention and in formulating effective solutions that will enhance the overall efficiency of the customs operations.

GJEPC aims to use these insights to work closely with the relevant authorities and stakeholders to improve the integration process, ensuring a more seamless experience for businesses involved in the import and export of precious cargo. The initiative is expected to contribute significantly to reducing delays, improving transparency, and boosting the overall efficiency of the jewellery trade’s customs clearance procedures.

Related Topics:2025 gjepc JewelleryTrade nationalnews PCCCC

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National News

P N Gadgil Jewellers Limited – Quarterly Update Q1 FY27

Retail Business Surges On Strong Same-Store Sales Growth, While The Company Stays On Track To Open ~25 New Stores In FY27, Targeting A Network Of ~103 Outlets By Year-End.

Published

2 hours ago

July 8, 2026

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Revenue Update

The Company delivered a strong performance in Q1 FY27, reporting robust revenue growth of 41% YoY.

The Retail segment grew 56% YoY, with robust same-store sales growth (SSSG) of 46% YoY as the primary driver, indicating that the growth was substantially organic in nature, driven by deeper customer engagement at existing stores. As a result, the Retail segment contributed around 78% of the total revenue, which is meaningfully higher on a YoY basis.

Franchise and E-com business grew by 8% and 20% respectively YoY.

Share of gold bullion sales in Retail revenue is normalized and on a stable level of ~22% as compared to a higher share in the previous quarter. The consistent reduction in the lower-margin bullion business, alongside the rising contribution of retail and studded jewellery, continues to drive a structural improvement in the overall quality of revenue.

Product Mix

The Company recorded strong growth across categories. Diamond jewellery growth reflects the growing consumer preference for studded jewellery across our existing and new markets. As a result, the studded jewellery mix improved, with the retail stud ratio rising to 10.9%.

Notably, our recently launched stores across Northern and Central India, though still contributing around 3.4% of Retail sales, are already recording a meaningfully higher stud ratio than our established network in Maharashtra and Goa. This early evidence validates our strategy of expanding into new geographies where the preference for studded jewellery is structurally stronger. As the contribution of these stores rises with the planned expansion over the coming quarters, this mix advantage is expected to scale meaningfully at the company level.

Operational Highlights

During the quarter, our focus remained on strengthening the performance of the existing network, advancing site identification and franchise partner onboarding for upcoming launches, and building the operational readiness required to execute the expansion pipeline for the remainder of the year.

The total store count as of June 30, 2026, stood at 78 (77 in India and 1 in the U.S.A.), with the store rollout for the year planned from the subsequent quarters onwards, in line with our phased expansion calendar.

Outlook for FY27

Financial performance for the quarter remains in line with our previously stated Gross Margin and EBITDA Margin guidance for FY27, and we remain confident of delivering on the same.

Further, we remain on track with our stated plan of opening ~25 new stores during the fiscal year, taking the total store count to ~103 by the end of FY27. The rollout will be phased across the remaining three quarters of the year, with a progressively accelerating launch calendar and a franchise-led approach across both Legacy and LiteStyle formats, deepening our presence in Maharashtra while progressively expanding into Uttar Pradesh, Bihar, Central India and the NCR region.

Note: This update provides a summary of the company’s financial performance for the quarter ended June 30, 2026. The results are subject to limited review by the Statutory Auditors. Upon approval by the Board of Directors, a detailed information update will follow. The revenue figures mentioned above represent revenue from the sale of goods.