National News
P N Gadgil Jewellers reports 23.5% growth in consolidated revenue YoY, reaching Rs. 24,357.51 mn for Q3 FY25
P N Gadgil Jewellers Limited, announced its unaudited financial results for the quarter ended 31st December 2024.
The company achieved its highest-ever revenue of Rs. 10,500 Mn+ in a single month in Oct-24 and total revenue of Rs. 24,357.51 Mn in Q3 FY25.9M FY25 Revenue, EBITDA and PAT grew YoY by 32.7%, 39.5% and 53.7% respectively. For Q3 FY25 (in Rs mn) Revenue from operations 24 357.51, EBIDTA 1297.70, EBITDA Margin (%) 5.3%, PAT 860.38, PAT margin(%) 3.5%, basic EPS 6.34.
Revenue per store stands at around Rs. 1,272 million, while net profit per store reached Rs. 32.56 million, demonstrating strong efficiency and profitability at the store level.
• Retail segment is 77% of our total sales, continues to lead the way, achieving an impressive Revenue growth of 41.8% an EBITDA margin of 6.8% and a PAT margin of 4.6%.
• The company’s E‐commerce segment experienced exceptional growth, with revenue increasing to Rs. 705 million, a 97.9% rise.
• Franchise revenue also grew to Rs. 2,264 million, with an 86.6% increase for Q3 FY 25.
• Strong Same-Store Sales Growth (SSSG) of 25.7% continues to drive sustained growth, underlining the successful performance of our existing showrooms for FY 25 YTD.
Operational Financial Highlights
• Increased Transaction Count and ATV: As customer engagement continues to rise, there has been a notable uptick in both transaction volumes and average spending per visit. The transaction count grew by 20.9%, alongside a 21.7% increase in Average Transaction Value (ATV), reaching Rs. 86K.
• Customer Footfall and Conversion Rate: A 36.2% increase in foot falls, coupled with a strong Conversion rate of 93.7%, further fuels our growth, reflecting increased Demand, customer engagement and sustained purchasing behavior at the store level.
• Festive Sales Surge: The festive season continues to contribute significantly to our performance, with Navratri sales growing by 18.0% and Diwali sales seeing a substantial increase of over 52.7%.
• Stud Ratio: A 38.7% YoY rise in stud ratio, which now stands at 7.4%.

Commenting on the performance, Dr. Saurabh Gadgil, Chairman & Managing Director, PN Gadgil Jewellers Limited, said, “Our strong Q3 FY25 performance reflects the continued trust of our customers and the strength of our retail presence. With record-high monthly revenue, robust same-store sales growth, and increasing customer engagement, we remain focused on enhancing our offerings and expanding our footprint. The successful launch of nine showrooms across nine consecutive days during Navratri underscores our commitment to growth, taking our store count to 48, with plans to reach 53 by Q4 FY25. The growth in all segments-retail, e-commerce, and franchise-reinforces our strategy and positions us well for sustained momentum in the coming quarters.”
National News
Belgian Consul General H. E. Mr. Pierre Stverlynck Graces BDB Annual Day
- Event marks 42 years of Incorporation and 16 years of Operations
- Recently-appointed Consul-General’s first visit to the Bourse helps strengthen a century-old bond
- Long service awards presented to outstanding employees
Bharat Diamond Bourse today marked 42 years of incorporation and 16 years since the commencement of operations at the BDB Complex in BKC with a special programme graced by H. E. Pierre Stverlynck – Consul General of Belgium in Mumbai as Chief Guest and a number of leading diamantaires.




The function was organised to celebrate the crucial roles played both by the visionaries who conceptualised the need for a centralised infrastructure to boost the diamond trade over four decades ago, and the employees who have run the daily operations in a highly efficient and professional manner.
In his Welcome Address, BDB Vice President, Mehul Shah explained the significance of celebrating twin milestones – 42 years of incorporation and 16 years of operations. He said:

“BDB began with a vision and is now the world’s largest operational bourse, and a symbol of India’s leadership in the diamond world and excellence in every aspect of operations.”
He added, “It is significant that the Consul General of Belgium is with us on this special occasion. Antwerp and Mumbai have a very close relationship, going back more than 100 years. Today the two cities have bonds based on trust, trade and friendship. We are committed to strengthening this bond over the next century as well.”
Congratulating the awardees he said that members may be the owners, but it is the staff who run the complex and have helped build it as the “best of the best” centres for diamonds. “Personal integrity combined with hi-tech surveillance have made BDB one of the safest places in the world,” he explained, and urged all present never to forget that “it is the soldiers who fight and win the wars.” Mr Shah offered compliments to all the awardees and congratulated Team BDB.
Speaking on the occasion, Anoop Mehta, President BDB, welcomed Mr Stverlynck who has recently assumed charge as Consul General of Belgium in Mumbai.

“We are sure that this will be the first of many visits to our Bourse,” he said, noting that the Consulate is the nearest neighbour of the complex.
“The BDB leadership has always enjoyed a very special relationship with the Belgian consulate,” he added, “built on the longstanding bonds between the diamond industry in our two countries.”
Mr Mehta said it was heartening that so many employees had remained loyal to the BDB for multiple years, and urged all gathered to reach out through their department heads to put forward suggestions for further changes and improvements
Mr Stverlynck, who was on his first visit to the Bourse after assuming charge as Consul General, said he was extremely impressed with the facilities available for exporters within the complex. Assuring the trade of cooperation and support, he said he was happy to be personally present to celebrate such a remarkable institution as BDB that has become a key pillar of the India diamond industry.
Congratulating the leadership for its role in steering the bourse, as well as those employees who had received long service awards, Mr. Stverlynck said:

“The consolidated knowledge and experience of so many from those at the top to a number of others who contributed in various ways, is an asset to the industry.”
Special long service awards were presented to employees who completed special milestones during the year. These included 30-year, 25-, 15-, 10- and 5-year service awards to a few employees.
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