National News

GJEPC Applauds CBIC’s New Personal Carriage Rules to Enhance Gems & Jewellery Exports

Published

8 months ago

April 1, 2025

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The Gem and Jewellery Export Promotion Council (GJEPC) has welcomed the introduction of new, streamlined personal carriage procedures by the Central Board of Indirect Taxes and Customs (CBIC) aimed at enhancing the export and import of gems and jewellery. The new guidelines, set to take effect on May 1, 2025, were detailed in CBIC Circular No. 09/2025-Customs, issued on March 28, 2025.

Commenting on the landmark announcement, Kirit Bhansali, Chairman, GJEPC, said, “This initiative is the outcome of the Council’s continuous efforts and advocacy to Customs and other Government authorities. The Council had consistently represented at all the meetings and forums that personal carriage should be permitted from all the ports as it is allowed from Delhi port only urging its extension to all ports to boost exports. Following multiple representations and discussions, the Government of India has issued the circular to address this long-standing demand of the trade, which aims at improving the ease of doing business while ensuring regulatory compliance.”

Under the new guidelines, Bills of Entry and Shipping Bills for personal carriage transactions will be processed electronically, increasing both efficiency and transparency. Personal carriage for exports will now be permitted at nine major airports: Delhi, Mumbai, Kolkata, Chennai, Kochi, Coimbatore, Bangalore, Hyderabad, and Jaipur. Personal carriage imports will be allowed through seven designated airports: Delhi, Mumbai, Kolkata, Chennai, Bangalore, Hyderabad, and Jaipur.

The Foreign Trade Policy (FTP) will also continue to impose a value cap on personal carriage exports, with limits of $5 million for overseas exhibitions and $1 million for export promotion tours.

Shaunak Parikh, Vice Chairman of GJEPC, emphasized that this move would significantly reduce logistical challenges and costs, particularly benefiting small and medium enterprises (SMEs). He added, “By simplifying personal carriage procedures, this initiative strengthens India’s competitive edge in the global gem and jewellery trade.”

The new rules will require importers and exporters to follow advance documentation, baggage declaration, and customs examination protocols at designated airports. Before May 1, 2025, Jurisdictional Commissioners will issue further operational guidelines and organize outreach programs to ensure a smooth transition to the new procedures.

National News

P N Gadgil Jewellers Reports 127% Surge in PAT for Q2 FY26; Strong Growth Across Retail, E-commerce, and Franchise Segments

Published

2 hours ago

November 12, 2025

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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.”