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P N Gadgil Jewellers Limited – Q4 FY25 Quarterly update

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In Q4 FY25, our consolidated revenue increased by 5.1% compared to the same quarter in the previous financial year, contributing to full-year growth of 25.9%.

Our retail segment, representing 81.5% of total revenue, achieved a robust 50% growth in Q4 FY 25 as compared to Q4 FY2024. This performance underscores strong consumer demand and operational excellence across our store network.

E-commerce: With a massive increase of 243.8% compared to the same quarter in the previous financial year, this segment contributed 5.7% to total revenue, reflecting our successful digital expansion and increasing online customer engagement. 

  Franchisee Operations: This segment surged by 37.2% compared to the same quarter in the previous financial year, accounting for 11.7% of total revenue, driven by strong franchisee performance and broader market penetration.

Festive sales remain a key driver of our success. This year, we achieved our highest ever single-day festive sales on Gudi Padwa amounting to ₹ 123.5 crore, with a remarkable 40.4% increase over last year.

A strong SSSG of 26.3% continues to drive sustained growth, reflecting the consistent demand and strong operational performance of our existing stores.

Our stud ratio, a key measure of product mix, rose by 30.8% to 7.4% in Q4 FY 25. This uptick highlights the growing popularity of stud-based Jewellery, aligning with evolving consumer preferences.

In the recently concluded quarter, we expanded our footprint with the launch of 5 new stores- 4 COCO and 1 FOCO store, bringing our total store count to 53. Notably, we celebrated the opening of our 50th store, a key milestone in our growth journey. Additionally, we completed the renovation of our flagship store on Laxmi Road, Pune, to meet increasing demand and enhance the customer experience. To further strengthen operational efficiency, the company also inaugurated a new operational office in Mumbai.

We anticipate a strong FY 26, fuelled by robust demand starting with Akshaya Tritiya and the continued strength of the wedding season, both of which are expected to drive significant sales in Q1 FY 26. Additionally, strong consumer demand driven by increasing purchasing power and shifting consumer presence will continue to fuel growth.

We aim to maintain this momentum by launching 20-25 new stores in FY26 while expanding our footprint in Uttar Pradesh and other regions. This strategic growth underscores our confidence in the market’s potential and our commitment to strengthening our physical presence.With these new stores, we aim to increase accessibility, deepen brand penetration, and continue delivering unparalleled value while sustaining our growth trajectory.

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Palmonas Raises $40 Million in Series B, Accelerates Omni-Channel Expansion

Shraddha Kapoor-Backed Demi-Fine Jewellery Brand to Scale Offline Retail and Strengthen Market Presence

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Palmonas, the Shraddha Kapoor-backed demi-fine jewellery startup, has raised $40 million (approx. Rs. 373 crore) in a Series B funding round, led by Xponentia Capital and Vertex Growth Fund, with participation from existing investor Vertex Venture

The fresh capital will be utilised to expand its offline retail footprint, building on its growing omnichannel presence across online platforms and physical stores.

Founded in 2022 by Pallavi Mohadikar and Amol Patwari, with Shraddha Kapoor joining as co-founder, Palmonas operates in the demi-fine jewellery segment, offering affordable yet premium designs crafted from sterling silver and stainless steel with gold plating. The brand targets the space between fashion and fine jewellery, catering to a young, aspirational audience.

The company has seen rapid growth, with its operating revenue surging over 40X to Rs. 39 crore in FY25, up from Rs. 97 lakh in FY24. Notably, Palmonas also turned profitable, reporting a profit of Rs. 4.3 crore during the same period.

The brand had earlier raised Rs. 55 crore from Vertex Ventures and gained visibility through Shark Tank India Season 4, securing Rs. 1.26 crore funding from Namita Thapar and Ritesh Agarwal, at a Rs. 126 crore valuation.

Operating in a competitive space, Palmonas goes head-to-head with players such as GIVA, BlueStone, and Limelight Lab Grown Diamonds, as it continues to strengthen its position in India’s fast-growing demi-fine jewellery market.

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