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P N Gadgil Jewellers Delivers Robust 9M FY26 Performance with Revenue of ₹71,948 Mn, EBITDA Up 105.3% and PAT Growth of 104.5% YoY

Strong festive and wedding-led demand drives robust revenue growth, higher profitability, and improved store-level performance in Q3 and 9M FY26

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P N Gadgil Jewellers Limited, one of the most reputed jewellers in the country, boasting around 193 years of excellence in craftsmanship and trusted service in the retail business of gold, silver, and diamond jewellery, announced its unaudited financial results for the quarter and nine months ended 31 st December, 2025.

During the period under review, total revenue excluding the other segment grew by 45.6% YoY (Q3 FY26 vs. Q3 FY25) and by 41.0% YoY (9M FY26 vs. 9M FY25). The following summary presents the revenue breakdown:

Retail segment is 83.2% of our total sales, continues to lead the way, achieving an impressive Revenue growth of 46.2% an EBITDA margin of 10.1% and a PAT margin of 6.5%.

For 9M FY26, average revenue per store stands at around Rs. 1,090.1 million, while net profit per store reached Rs. 48.4 million, demonstrating strong efficiency and profitability at the store level.

Operational Financial Highlights

Product-wise Performance: For nine months ended FY26, the Silver category delivered a strong performance with 96% growth in value and 56% growth in volume, while Diamond sales also improved, recording over 50% rise in volume Y-o-Y, resulting in the stud ratio reaching 8.4%.

Festive Sales Surge: Festive sales remain a key driver of our success. Dussehra alone delivered the company’s highest-ever single-day festive sales of ₹1,900 Mn increased by 64% Y-o-Y. The company recorded festive season sales of ₹ 6,060 Mn during Diwali, registering a robust 74% growth as compared to the previous year.

Customer Footfall and Conversion Rate: A 33% increase in footfall, coupled with a strong Conversion rate of 94%, further fuels our growth, reflecting increased Demand, customer engagement and sustained purchasing behaviour at the store level.

• Increased Transaction Count and ATV: As customer engagement continues to rise, there has been a notable uptick in both transaction volumes and average spending per visit. The transaction count grew by 35%, taking the Average Transaction Value (ATV) to Rs. 103.1k.

Commenting on the performance, Dr. Saurabh Gadgil, Chairman & Managing Director, P N Gadgil Jewellers Limited, said, “The quarter witnessed strong momentum, supported by healthy Festive and wedding-led demand. Revenue from operations increased 35.6% YoY to Rs. 33,026 Mn in Q3 FY26, despite gold price volatility. Demand remained broad-based across core markets, led by gold jewellery, new designs and an increasing preference for lightweight and studded jewellery, supported by strong brand recall and customer trust. Profitability improved significantly during the quarter, with PAT rising 98.6% YoY to Rs.1,709 Mn, supported by a favorable product mix, higher contribution from Studded jewellery, along with disciplined cost management, resulted in meaningful margin expansion. Retail continued to be the primary growth driver, complemented by strong growth in e-commerce and steady performance in the franchise segment. The Company continued to execute its expansion strategy with the addition of three new company-owned stores this quarter at Moshi (Pimpri-Chinchwad), Patna (Bihar), and Viman Nagar under the LiteStyle format, taking the Company’s total retail footprint to 66 stores as of December 2025. Going ahead, management remains focused on driving same-store sales growth, maintaining healthy inventory turns, and sustaining profitable growth, supported by continued upcoming festive & wedding led demand.”

source: PNG Jewellers

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National News

GJC Announces 15th Edition Of National Jewellery Awards – Celebrating Excellence & Innovation

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The All India Gem & Jewellery Domestic Council (GJC) proudly announces the 15th edition of the National Jewellery Awards (NJA’26), India’s most prestigious celebration of excellence in the gem and jewellery industry. Widely regarded as the industry’s highest honour, the National Jewellery Awards recognise and celebrate exceptional achievements in jewellery design, manufacturing, retailing, craftsmanship, innovation, and branding.

Entries for NJA 2026 are now officially open. Jewellers, designers, Women entrepreneurs and students from across India are invited to participate. Submissions will be accepted until 22nd August 2026, through the official GJC portal.

The awards provide a national platform to showcase talent, gain recognition, network with peers, and enhance knowledge of the latest jewellery trends. Winning entries will receive nationwide acclaim and media visibility, reinforcing NJA’s reputation as the industry’s most coveted recognition of excellence. The winners will be announced on 3rd October 2026 at Jio World Convention Centre, Mumbai during India Gem and Jewellery Show – GJS Diwali Edition – A Grand Business to Business Expo #HumaraApnaShow.

By honouring the vision, artistry, and entrepreneurial spirit of India’s finest jewellers, NJA continues to inspire excellence, set new industry benchmarks, and reinforce the country’s position as a global leader in the gem and jewellery sector. Over the years, NJA has evolved into the definitive celebration of India’s finest jewellery artistry, where timeless craftsmanship meets contemporary innovation. Revered as the highest honour in the gem and jewellery fraternity, the awards recognise masterful creations that embody exceptional design, meticulous craftsmanship, artistic excellence, and unparalleled quality.

NJA is GJC’s endeavour to stimulate industry growth. It is the ultimate platform to inspire and recognize true talent among GJC’s valued members and associates. Nurturing creativity and honouring innovation, inspiration, passion, craft, and devotion that inspires the flair for new talent is the core objective of NJA. The immense success and recognition of NJA Awards in the industry have determined the 15th edition, with Ernst & Young (EY) as an Independent Process Advisor to emphasize brilliant aspects catering to every vital sector of the industry. Ultimately, NJA stands as the industry’s recognition by the industry, from the industry, to the industry — a true celebration of collective excellence.

The National Jewellery Awards (NJA’26) will feature five distinguished award segments encompassing 12 carefully curated categories and 28 sub-categories, celebrating excellence across the entire gem and jewellery value chain. From breathtaking jewellery designs and impeccable craftsmanship to retail excellence, branding, manufacturing, and business innovation, the awards honour those who continue to redefine creativity and set new benchmarks for the industry. Each category reflects the evolving aspirations of India’s jewellery sector while recognizing the visionaries whose artistry, precision, and entrepreneurial excellence are shaping the future of fine jewellery.

The winners will be selected through a rigorous, multi-tier evaluation process designed to uphold the highest standards of credibility and excellence. Entries will first be assessed by a distinguished Grand Jury comprising industry veterans, entrepreneurs, advisers, financier who will evaluate each submission for its design aesthetics, originality, craftsmanship, finishing, innovation, quality, and market impact. The process will culminate in a comprehensive Screening Jury review, ensuring every winning creation and brand is judged with fairness, transparency, and uncompromising attention to detail, reinforcing the National Jewellery Awards’ reputation as the industry’s most coveted recognition of excellence.

Announcing the opening of entries, Rajesh Rokde, Chairman, All India Gem & Jewellery Domestic Council (GJC), said,

“The 15th edition of the National Jewellery Awards reflects the remarkable journey and growing stature of India’s jewellery industry. NJA has emerged as a platform that provides nationwide recognition to exceptional talent while helping businesses expand their reach and reputation.

By celebrating excellence in design, craftsmanship and innovation, the awards not only inspire the industry but also strengthen the vision of ‘Make in India’ and showcase the extraordinary capabilities of Indian jewellers to the nation. Importantly, NJA also serves to connect with the national gems and jewellery communities, supporting upcoming talent across India and motivating the traditional essence of Indian culture through jewellery.”

Avinash Gupta, Vice Chairman, GJC, said:

“The 15th edition of the National Jewellery Awards reflects the remarkable journey and growing stature of India’s jewellery industry. NJA has emerged as a platform that provides nationwide recognition to exceptional talent while helping businesses expand their reach and reputation. By celebrating excellence in design, craftsmanship and innovation, the awards not only inspire the industry but also strengthen the vision of ‘Make in India’ and showcase the extraordinary capabilities of Indian jewellers to the nation.

Importantly, NJA also serves to connect with the national gems and jewellery communities, supporting upcoming talent across India and motivating the traditional essence of Indian culture through jewellery.”

Sunil Poddar, Convenor NJA, said:

“As we celebrate the 15th edition of the National Jewellery Awards, our commitment to recognising exceptional talent remains stronger than ever. NJA continues to spotlight artisans, designers and visionaries whose dedication and innovation shape the future of the jewellery industry. Over the years, the awards have evolved into the industry’s most respected and inclusive platform, honouring creativity, passion and excellence while setting new benchmarks for success.”

Rupesh Tambi, Joint Convenor, NJA, added:

“The National Jewellery Awards have consistently celebrated excellence, craftsmanship and innovation across every segment of the industry. The 15th edition further reinforces our commitment to nurturing talent through a fair, transparent and process-driven selection mechanism validated by Ernst & Young (EY). This credibility has made NJA one of the most trusted and respected awards in the Indian jewellery industry.”

Sumeet Anand, Joint Convenor, NJA, Said:

“The NJA has grown into a benchmark of credibility and prestige over the years. As we celebrate the 15th edition, it is not just an award ceremony—it is a recognition of the relentless passion, creativity, and integrity that drive our industry forward.”

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