National News
India puts restrictions on Platinum alloy imports
India has announced restrictions on imports of unwrought platinum and platinum powder, with an exception for alloys containing at least 99% pure platinum, according to a government notification issued on Wednesday.
The Directorate General of Foreign Trade (DGFT) revised the import policy for platinum, moving certain categories from the “free” list to the “restricted” list.
Under the new policy, imports of unwrought platinum, platinum powder, and other specified forms require authorization from the DGFT, except for platinum alloys that have a purity of 99% or more by weight.
To ensure a steady supply for jewelry and industrial uses, the government has allowed the unrestricted import of platinum alloys with a purity of at least 99%.
This change comes in response to concerns that some importers were taking advantage of tariff differences by blending gold with platinum to bypass higher import duties on gold.
The economic think tank GTRI had earlier raised concerns about the duty-free imports of gold, silver, platinum, and diamonds from the UAE, cautioning that the arrangement could be exploited to avoid tariffs.
In October of the previous year, India voiced concerns over the rising imports of silver products, platinum alloys, and dry dates from the UAE, calling for stricter enforcement of the rules of origin under the Free Trade Agreement (FTA). Following discussions, the UAE agreed to address India’s concerns.
National News
P N Gadgil Jewellers Limited – Quarterly Update Q4 FY26
Strong Q4 Surge Driven By Festive Demand and Expansion, With FY26 Revenue Crossing ₹10,744 Crore and Ambitious FY27 Growth Outlook
The Company delivered an exceptional performance in FY26, reporting revenue of Rs. 10,744 crore, up 40% YoY, marking a significant milestone in our growth journey. This strong performance was driven in part by an outstanding Q4, where total revenue increased by 124% YoY.
Retail Segment
The Retail segment recorded 102% YoY growth in Q4 FY26, driven by strong demand during the wedding and festive season.
Non-Retail Segments
Franchise Operations grew by 132% YoY, while E-commerce recorded a 67% YoY increase. During the quarter under review, total revenue excluding the other segment delivered a YoY growth of 104%. The details are provided below:
| Consolidated Revenue (Rs.Cr) | Q4 FY’26 | Q4 FY’25 |
| Revenue Excluding Other Segment | 3,196 | 1,569 |
| Others Segment | 356 | 18 |
| Total Revenue | 3,552 | 1,587 |
Note – Other segment primarily comprises B2B bullion sales from the Head Office and the corporate segment.
Festive and Event Sales
Foundation Day sales during the period amounted to Rs. 365 crore, with a healthy contribution across all categories. This was followed by a robust festive performance during Gudi Padwa, with sales reaching Rs. 171 crore, reflecting a 38% YoY growth. Subsequently, Gratitude Day sales to celebrate the milestone of reaching Rs. 10,000 crore stood strong at Rs. 225 crore.
Product Mix and Same Store Sales Growth (SSSG)
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, highlighting strong customer traction across existing locations.
Operational Highlights
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 expansion included strengthening our presence in Maharashtra and entering new markets in Uttar Pradesh through store openings in Gorakhpur and Varanasi.
Credit Rating Upgrade:
During the quarter, the Company’s long-term rating was upgraded to IND A+/Stable from IND A, while the short-term rating was reaffirmed at IND A1.
Outlook for FY27
We continue to maintain ongoing expansion momentum, with plans to open 25 new stores, with a strong strategic focus on scaling franchise formats, alongside company-owned stores. This is expected to take our total store count to 103 by the end of the fiscal year. We are targeting revenue of Rs. 13,500 crore, implying a growth of 25% YoY and an EBITDA margin of 7.5%.
P N Gadgil Jewellers Limited – Quarterly Update Q4 FY26
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National News5 hours agoGargi by P. N. Gadgil & Sons Posts 30.27% Revenue Growth in Q4FY26
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International News1 day agoPrecious Metals Rally On US-Iran Ceasefire: Gold Tops $4,850, Silver Jumps To $76
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National News1 hour agoP N Gadgil Jewellers Limited – Quarterly Update Q4 FY26
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BrandBuzz1 day agoMMTC-PAMP Launches Industry’s First Organized Silver Buyback for Coins, Bars, and Jewellery
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