National News
P N Gadgil Jewellers Limited – Q1 FY26 Quarterly update
Retail Segment
The retail segment, representing 70.3% of total revenue, achieved a steady 19.4% growth in Q1 FY26 as compared to Q1 FY25. The results reflect a cautious consumer environment and stable store-level operations.
Non-Retail Segments
- E-commerce: With an increase of 126% compared to the same quarter in the previous financial year, this segment contributed 3.9% to total revenue, reflecting our successful digital expansion and increasing online customer engagement.
- Franchisee Operations: This segment surged by 109% compared to the same quarter in the previous financial year, accounting for 15.7% of total revenue, driven by strong franchisee performance and broader market penetration.
- Other: The Other segment excluding refinery contributed 10.1% of total revenue in Q1 FY26. It consists of B2B and corporate sales. As informed earlier, the refinery sales which contributed ₹ 3,535 million In Q1 FY25 was discontinued effective October 1, 2024.
Performance of Continuing Operations
| Particulars (INR Min) | Q1 FY’25 | Q1 FY’26 |
| Revenue Excl. Refinery | 13,140 | 17,137 |
| Refinery | 3,535 | – |
| Total Revenue | 16,675 | 17,137 |
During the quarter under review, revenue excluding the refinery segment delivered a YoY growth of 30.4%.
Festive Sales
Festive sales remain a key driver of our success. This year, we achieved our highest ever single-day festive sales on Akshaya Tritiya amounting to ₹ 1,395.3 million, with a remarkable 35.1% increase over last year.
Stud Ratio and same store sales growth
The share of studded jewellery increased by 41.6% YoY in Q1 FY26, taking the stud ratio to 10% of the retail sales. This uptick highlights the growing popularity of stud-based Jewellery, aligning with evolving consumer preferences. The Same Store Sales Growth for the quarter ended Q1 FY26 stood at 8%, primarily impacted by the absence of the Gudi Padwa festival during the quarter. The festival, which was part of Q1 in FY25 last year, was preponed in Q4 FY25 this year, thereby affecting Like-for-like comparability.
Q1 FY26 Operational Highlights
In the recently concluded quarter, we expanded our footprint with the launch of our dedicated sub-brand Litestyle, aimed at meeting the growing demand for stylish and lightweight jewellery. Additionally, we launched two new showrooms during the quarter – one COCO and one FOCO, taking our total store count to 55.
Outlook for FY26
On the expansion front, we remain focused on accelerating our store rollout plan, with 7 to 9 new launches – a mix of company-owned (COCO) and franchise outlets (FOCO) – scheduled for Q2 FY26, this forms a significant part of our broader target of opening 20-25 new stores during the fiscal year.
Key growth markets such as Maharashtra, where we continue to maintain a leadership position, and other regions such as Uttar Pradesh and Madhya Pradesh which presents strong growth potential, will remain central to our expansion strategy. Our focus on these regions aligns with our goal to deepen market presence and drive incremental demand through enhanced accessibility.
National News
Kumari Fine Jewellery Celebrates the “Modern Indian Original” with Exclusive Women’s Day Showcase
The Women’s Day showcase highlights self-bought milestones and positions lightweight gold jewellery as a symbol of independence, identity, and modern professional style.
Mumbai’s leading lightweight fine jewellery brand, Kumari Fine Jewellery, has unveiled its International Women’s Day 2026 showcase, celebrating every Kumari’s financial independence, personal style, and the power of self-expression. Reimagining the occasion as a tribute to the “Modern Indian Original,” the brand positions precious jewellery not as a passive asset, but as an active styling statement for women who invest in themselves.

This Women’s Day, Kumari brings an exhibition creating an exclusive experience for women who view gold as a reflection of identity rather than an occasion. Designed for working professionals, entrepreneurs, and corporate leaders, the showcase centres around the idea of the self-bought milestone, encouraging women to commemorate their achievements with jewellery that anchors confidence and presence.
The exhibition will feature a thoughtfully curated selection of signature pieces styled for work, travel, and celebration. From refined everyday gold essentials to statement accents that transition seamlessly from boardroom meetings to evening parties, each design reflects Kumari’s contemporary aesthetic and commitment to versatility. The brand’s design philosophy focuses on wearability, styling intelligence, and modern relevance, ensuring precious jewellery becomes an integral part of the active, social, and professional lives of contemporary women.

Speaking about the campaign, Supriya Kataria, Founder, Kumari Fine Jewellery, said, “Our vision has always been to design for the Modern Indian women who lead, create, and define their own journey. This showcase invites you to honour your personal milestones with jewellery that anchors your confidence, serving as a powerful reflection of both identity and achievement.”
Extending the initiative offline, Kumari Fine Jewellery will host a pop-up experience on 5 & 6th March 2026 at Parinee Crescenzo, Business Park, One BKC, Mumbai, inviting guests to experience a space where gold is not simply purchased, but personally claimed as a marker of growth, independence, and self-expression.
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