National News
India’s Gems and Jewellery Market Set to Reach USD 168.62 Billion by 2030
A robust 8.93% CAGR drives growth, fueled by cultural significance, evolving consumer trends, and rising demand.
India’s gems and jewellery industry is poised for substantial growth, with projections indicating a market value of USD 168.62 billion by 2030, according to a recent report by Research and Markets. The report, India Gems and Jewelry Market, By Region, Competition, Forecast & Opportunities, 2020-2030F, highlights an impressive compound annual growth rate (CAGR) of 8.93%, which is driving the industry’s rapid expansion.
Jewellery holds immense cultural significance in India, where it is regarded not only as a symbol of tradition but also as a valuable financial asset. The wedding sector remains the largest demand driver, accounting for nearly half of total market sales, with festivals like Diwali and Akshaya Tritiya also playing a vital role in bolstering gold and jewellery purchases as symbols of prosperity.
Despite this growth, the market faces challenges such as fluctuating gold prices and high import costs for materials like diamonds and platinum. The sector’s dependence on imports makes it vulnerable to global economic shifts and geopolitical uncertainties. Additionally, regulatory policies and import duties continue to impact the industry’s dynamics.
Consumer preferences are shifting, with younger buyers and working professionals increasingly opting for lightweight and contemporary jewellery designs. There is a growing demand for 14K and 18K gold pieces, which reflects a trend toward practicality and modernity. This shift is driving innovations that blend traditional craftsmanship with current design trends.
As India’s jewellery sector remains led by established players like Rajesh Exports Limited, Malabar Gold Private Limited, Titan Company Limited, and Kalyan Jewellers India Limited, the industry is expected to continue its upward growth trajectory, reinforcing India’s position as a global leader in the gems and jewellery manufacturing and export market.
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
Gargi by P. N. Gadgil & Sons Posts 30.27% Revenue Growth in Q4FY26
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Precious Metals Rally On US-Iran Ceasefire: Gold Tops $4,850, Silver Jumps To $76
Gargi by P. N. Gadgil & Sons Posts 30.27% Revenue Growth in Q4FY26
MMTC-PAMP Launches Industry’s First Organized Silver Buyback for Coins, Bars, and Jewellery
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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 News9 hours agoGargi by P. N. Gadgil & Sons Posts 30.27% Revenue Growth in Q4FY26
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BrandBuzz1 day agoMMTC-PAMP Launches Industry’s First Organized Silver Buyback for Coins, Bars, and Jewellery
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DiamondBuzz10 hours agoGIA Celebrates World Diamond Day Highlighting Iconic Gems
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