National News

P N Gadgil Jewellers Limited – Q1 FY26 Quarterly update

Published

1 year ago

July 7, 2025

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.

Related Topics:2025 nationalnews PNG Jewellers

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National News

PNG Jewellers Marks 25 Years Of Paud Road Store With ‘Choosing Gold’ Marathi Edition Launch By Actress Shreya Bugade

Launched Within Three Months Of The English Edition, The Marathi Memoir Was Unveiled In The Presence Of Actress Shreya Bugade At PNG Jewellers’ Paud Road Store.

Published

7 hours ago

October 29, 2026

JewelBuzz Spread The Buzz

Dr. Saurabh Gadgil, Chairman and Managing Director of PNG Jewellers, launched the Marathi edition of his debut memoir, Choosing Gold, in Pune, in the presence of popular Marathi actress Shreya Bugade. The Marathi edition comes just three months after the book’s English release in August 2026, bringing Dr Gadgil’s personal and professional journey closer to readers in his mother tongue. The launch took place at PNG Jewellers’ Paud Road store, which also celebrated 25 glorious years of serving customers and building lasting relationships in Pune.

Choosing Gold offers a deeply personal account of Dr. Gadgil’s journey as the sixth-generation custodian of PNG Jewellers, one of India’s oldest and most respected jewellery businesses with a legacy spanning 194 years. Originally published in English by Penguin Random House India in August 2026, the memoir reflects on the challenges, defining decisions and experiences that shaped his leadership and the evolution of the business. With the launch of its Marathi edition, this journey now reaches readers in a language closely connected to Dr. Gadgil’s upbringing, family and roots.

More than the story of a successful entrepreneur, Choosing Gold is an honest reflection on the responsibility of carrying forward a legacy while finding one’s own identity. Having taken over the leadership of PNG Jewellers, Dr. Gadgil navigated several defining moments that tested his conviction and shaped his outlook. The memoir revisits the lessons learned from setbacks, conversations with his grandfather and mother that stayed with him over the years, and personal experiences that influenced his decisions. It also offers insight into his approach to leading and transforming a nearly two-century-old family business while remaining rooted in the values on which it was built.

Speaking on the launch, Dr. Saurabh Gadgil, Chairman and Managing Director, PNG Jewellers, said:

“Ever since the English edition of Choosing Gold was released, I had been eagerly looking forward to bringing the book to Marathi readers. Marathi is my mother tongue, and seeing my experiences, decisions and learnings reach readers in my own language is a moment of immense pride and happiness for me. Writing this book allowed me to revisit several moments in my life. Some decisions worked out, some did not, and the significance of a few became clear only years later. Each of these experiences has shaped the person I am today. My family’s values, the rich legacy of PNG Jewellers and the trust our customers have placed in us have all played an important role in this journey.

I am particularly happy that the Marathi edition will allow me to connect with readers in a more personal way. If even one experience from my journey helps someone approach a difficult decision with greater confidence, I would consider the purpose of this book fulfilled.”

Popular Marathi actress Shreya Bugade, who graced the occasion as the chief guest, said:

“It is truly an honour to be part of the launch of the Marathi edition of Dr. Saurabh Gadgil’s Choosing Gold. What makes this occasion even more special is that we are also celebrating 25 glorious years of PNG Jewellers’ Paud Road store. It is a double celebration, and I am delighted to be part of it.”

The launch of the Marathi edition marks another significant milestone in Dr. Gadgil’s journey as an author. Going beyond the world of business, the memoir explores leadership, family, relationships, responsibility and the importance of believing in one’s decisions. Its themes extend beyond entrepreneurs and business professionals, offering relatable experiences and reflections for readers navigating their own ambitions, challenges and choices.

The occasion also marked the silver jubilee of PNG Jewellers’ Paud Road store, celebrating 25 glorious years of customer trust and relationships. Over the past two and a half decades, the store has built a strong connection with generations of customers in the neighbourhood, making it an important part of PNG Jewellers’ journey in Pune.