National News
P N Gadgil Jewellers Limited – Quarterly Update Q3 FY26
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’26 | Q3 FY’25 |
|---|---|---|
| Revenue Excluding Other Segment | 3,169 | 2,176 |
| Other Segment | 133 | 259 |
| Total Revenue | 3,302 | 2,435 |
- 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.
National News
GJC Delegation Meets RBI Deputy Governor, Makes GMS Presentation
The Proposal Was Acknowledged As An Innovative Initiative With The Potential To Become A Game Changer For The Industry and The Nation.
A GJC delegation comprising Vice Chairman Avinash Gupta, Legal Consultant CA Bhavin Mehta, and National Secretary Mitesh Dhorda met with Shirish Chandra Murmu, Deputy Governor of the Reserve Bank of India, along with his senior team.
During the meeting, the delegation made a detailed presentation on the proposed Gold Monetization Scheme (GMS). The RBI team appreciated the concept of the scheme. The proposal was acknowledged as an innovative initiative with the potential to become a game changer for the industry and the nation.
GJC remains committed to working closely with all stakeholders —including the government, banks, jewellers, gold depositors, and temple trusts—in the larger national interest and for the sustainable growth of the GJ industry.
The Gold Monetization Scheme (GMS) in India was launched with the primary objective of reducing gold imports by mobilizing the vast amount of idle gold held by households, institutions, and temple trusts, thereby decreasing the country’s heavy reliance on gold imports. By encouraging depositors to bring their unused gold into the formal banking system, the scheme puts this dormant gold into productive economic purposes, such as meeting the needs of jewellers and industries without requiring fresh imports.
Additionally, the scheme allows depositors to earn interest on their gold deposits instead of keeping gold idle at home, transforming a non-yielding asset into an income-generating investment while simultaneously strengthening India’s gold supply chain and reducing the trade deficit.
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