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P N Gadgil Jewellers Limited – Quarterly Update Q3 FY26

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The Retail segment delivered strong revenue growth 46% in Q3 FY26 compared to the same period in the previous financial year, accounting for 83.2% of total revenue. The growth was primarily driven by strong festive and wedding season demand.

Non-Retail Segments

  • E-commerce: This segment recorded a 138% increase compared to the same quarter in the
    previous financial year; it contributed 5.1% to total revenue.
  • Franchisee Operations: This segment grew by 12% YoY, accounting for 7.7% of total revenue. During the quarter under review, total revenue excluding the other segment delivered a YoY growth of 46%. The details are provided below:
Consolidated Revenue (₹ in Cr)Q3 FY’26Q3 FY’25
Revenue Excluding Other Segment3,1692,176
Other Segment133259
Total Revenue3,3022,435
  • Other segment: It accounted for 4% of total revenue in Q3 FY26, primarily comprising B2B
    bullion sales from the Head Office and corporate segment.

Festive Sales

  • Dussehra sales stood at Rs.190 crore, reflecting a strong 64% YoY growth.
  • Dhanteras registered a revenue of Rs.277 crore, marking the highest-ever single-day festive sales
    for the company. Consequently, total Diwali sales aggregated to Rs.606 crore, registering a robust
    74% YoY growth.
  • October 2025 witnessed the highest-ever monthly revenue of Rs1,807 crore, representing a
    significant 72% YoY increase.

Product Mix and same store sales growth

  • The studded jewellery contribution for the 9M FY26 increased by 52% YoY, taking the stud ratio to 8.4 %.
  • Further, the Same-store sales growth (SSSG) for the quarter stood at 32%.

Operational Highlights

  • During the quarter, the Company launched 3 exclusive company owned outlets, taking the total store
  • count to 66 as of December 31, 2025.

Outlook for FY26

  • On the expansion front, Company continues to focus on accelerating our store rollout plan, with 12-14 new openings planned for Q4 FY26, comprising a mix of company owned (COCO) and franchisee operated (FOCO) outlets. These additions will enable us to achieve our target of 78-80 stores by the end of the fiscal year.
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National News

Bhima Gold Unveils Ashtalakshmi Coin Collection for Akshaya Tritiya, Blending Devotion with Exquisite Design

A culturally rooted, insight-led launch that reimagines festive gold buying through storytelling, symbolism, and spiritual relevance.

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In a move that blends cultural storytelling with product innovation, Bhima Gold has unveiled its Ashtalakshmi Coin Collection for Akshaya Tritiya – positioning gold not just as a purchase, but as a deeply symbolic expression of prosperity, faith, and intent.

Timed with one of India’s most significant gold-buying occasions, Akshaya Tritiya, the launch reflects a deeper cultural shift in consumer behaviour. While the festival continues to drive strong purchase intent, there is a growing preference for meaningful, purpose-led buying experiences over purely transactional consumption.

Aligned with this evolving mindset, the Ashtalakshmi coin collection has been thoughtfully conceptualised to blend tradition with deeper symbolism. Inspired by the eight sacred forms of Goddess Lakshmi, each coin represents a distinct dimension of prosperity—from wealth and nourishment to courage, knowledge, and continuity.

By bringing together Adi Lakshmi, Dhana Lakshmi, Dhanya Lakshmi, Gaja Lakshmi, Santana Lakshmi, Veera Lakshmi, Vijaya Lakshmi and Vidya Lakshmi, the collection reframes gold coins from being a generic festive purchase to a story-driven, culturally immersive product experience – one that resonates across generations and belief systems.

This launch also aligns with Bhima Gold’s larger centenary narrative of “Together Purever,” which focuses on legacy, shared traditions, and evolving consumer meaning. The collection becomes an extension of that philosophy – reinforcing how heritage brands are reinterpreting tradition for a more aware and emotionally driven consumer.

Customers can pre-book their favourite jewellery by paying just 10% in advance & get their jewellery on Akshaya Tritiya at the lowest rate, which gives customers more flexibility and helps them plan their purchases with greater confidence, especially at a time when gold prices are high.

Akshaya Tritiya has traditionally been associated with intention, belief, and the aspiration for prosperity, extending beyond a purely transactional act of buying gold. The Ashtalakshmi Coin Collection has been conceptualised to reflect this deeper cultural and spiritual significance, with each coin designed to carry a distinct meaning and sense of purpose. The initiative also aligns with evolving consumer preferences, where there is a noticeable shift towards jewellery that offers emotional, cultural, and spiritual resonance in addition to intrinsic value.

With gold prices near record highs and consumer sentiment becoming more considered, Bhima’s Ashtalakshmi Coin Collection signals a broader shift in the category — from price-led promotions to meaning-led engagement, where design, storytelling, and cultural relevance drive both differentiation and demand.

As legacy brands navigate a new era of conscious consumption, Bhima Gold’s latest offering highlights how tradition can be reimagined as experience, making gold buying not just an act of investment, but an expression of identity and belief.

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