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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.

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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.”

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Kerala Chief Minister’s Presence Marks Grand Finale Of KJIF 2026 As State’s Jewellery Industry Charts New Growth Vision

Three-Day B2B Fair Concludes With Record Participation, Strong Business Momentum and Unprecedented Government Support.

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The fifth edition of the Kerala Jewellery International Fair (KJIF) 2026 concluded on an exceptional note, reinforcing Kerala’s position as one of India’s most influential jewellery markets. Organised jointly by the Kerala Gold & Silver Merchants Association (KGSMA) and United Exhibitions, the three-day B2B exhibition witnessed remarkable business activity, record industry participation, knowledge-sharing initiatives and an unprecedented level of government engagement.

The grand finale of the exhibition was marked by the Kerala Jewellers State Convention, where Hon’ble Chief Minister of Kerala, Shri V. D. Satheesan, addressed an audience of more than 5,000 jewellers, manufacturers, retailers, industry leaders and stakeholders from across the state. His presence elevated the stature of the convention and reaffirmed the Government’s recognition of Kerala’s jewellery sector as a vital contributor to the state’s economic development.

In his keynote address, the Chief Minister acknowledged Kerala’s longstanding leadership in the gold and diamond industry, describing the sector as a major driver of employment, entrepreneurship, exports and wealth creation. He highlighted the industry’s resilience, craftsmanship and global reputation while encouraging greater adoption of technology, innovation, responsible business practices and international competitiveness. Expressing confidence in Kerala’s jewellery fraternity, he called upon the industry to continue playing a transformative role in shaping the state’s economic future.

The State Convention also provided an important platform for meaningful interaction between policymakers and industry leaders, facilitating discussions on the future of the jewellery trade, sustainable growth, evolving consumer expectations and policy support required to strengthen one of Kerala’s most vibrant business sectors.

Distinguished Dignitaries Throughout the Three-Day Event

KJIF 2026 witnessed the participation of several eminent dignitaries throughout the exhibition, reflecting the growing importance of the jewellery industry within Kerala’s economic landscape.

The exhibition was formally inaugurated by Shri P. C. Vishnunadh, Hon’ble Minister for Tourism and Culture, while the official unveiling of KJIF 2026 was performed by Shri P. K. Kunhalikutty, Hon’ble Minister for Industries, IT & AI, who appreciated the exhibition’s contribution towards promoting business, manufacturing excellence and industrial growth.

The inaugural evening concluded with the spectacular KJIF Fashion Nite & Gala Dinner, graced by Shri Roji M. John, Hon’ble Minister for Higher Education, who interacted with industry members and appreciated the creativity and craftsmanship displayed by exhibitors.

On the second day, Smt. Shanimol Usman, Hon’ble Deputy Speaker of the Kerala Legislative Assembly, visited the exhibition and commended the industry’s continuous contribution towards employment generation and entrepreneurship.

Day 2 concluded successfully with the presence of Shri Ramesh Chennithala, Hon’ble Minister of Home Affairs and Vigilance, who shared his memories of interacting with Malayalee karigars across other states and stressed the importance of bringing that employment and craftsmanship back to Kerala while developing the state into India’s jewellery export hub.

The exhibition concluded with the Kerala Jewellers State Convention, where Hon’ble Chief Minister Shri V. D. Satheesan delivered the valedictory address, making the closing ceremony one of the most memorable moments in the history of KJIF.

Alongside the Chief Minister, Shri Benny Behnan, Hon’ble Member of Parliament, Shri Roji M. John, Hon’ble Minister for Higher Education, KGSMA State President Shri K. Surendran, State General Secretary Adv. S. Abdul Nazar, State Treasurer Shri C. V. Krishna Das, Shri V. K. Manoj, Project Director of United Exhibitions, Shri Varghese Alukka, Managing Director of Jos Alukkas Jewellery, along with the Vice Presidents and Secretaries of KGSMA, were present on the dais.

Outstanding Business Response

KJIF 2026 recorded an overwhelming response from jewellery retailers and trade buyers from every district of Kerala. The exhibition witnessed a strong influx of quality business visitors, resulting in productive interactions between exhibitors and buyers.

Exhibitors expressed high levels of satisfaction with the quality of footfall, reporting encouraging order enquiries, advance festive bookings and significant business generated across gold, diamond, bridal and contemporary jewellery collections. The exhibition once again established itself as Kerala’s most preferred sourcing platform ahead of the festive and wedding seasons.

Knowledge-Driven Industry Engagement

Beyond business, KJIF 2026 continued its commitment to industry development through a series of well-attended knowledge sessions.

The Banking Seminar brought together leading financial institutions and jewellery entrepreneurs to discuss banking solutions, working capital support, digital banking and financial best practices.

The seminar titled “Jewellery Business for Today & Future” featured eminent industry experts who shared valuable insights into changing consumer behaviour, organised retail, digital transformation, branding strategies and emerging opportunities within the jewellery sector.

The Youth Wing Seminar focused on preparing the next generation of jewellery entrepreneurs through discussions on leadership, succession planning, innovation and business sustainability, inspiring young professionals to take the industry forward.

Fashion Walk Adds Glamour to Opening Day

Adding elegance and excitement to the inaugural evening was the Fashion Walk Powered by Malayala Manorama, which presented exquisite jewellery collections through a professionally curated runway showcase. The event beautifully blended craftsmanship with contemporary design, providing participating exhibitors an exclusive platform to unveil their latest collections before Kerala’s leading retailers and industry professionals.

KJIF Strengthens Its Position as South India’s Premier B2B Jewellery Exhibition

The overwhelming response from exhibitors, visitors, trade associations and business partners reaffirmed the Kerala Jewellery International Fair as one of South India’s most influential B2B jewellery exhibitions.

By successfully integrating business networking, government participation, knowledge exchange and premium lifestyle experiences under one platform, KJIF 2026 once again demonstrated its commitment to strengthening Kerala’s jewellery ecosystem and creating new opportunities for manufacturers, wholesalers and retailers alike.

With record participation, strong business outcomes, impactful industry discussions and the distinguished presence of the Hon’ble Chief Minister of Kerala, KJIF 2026 concluded on a historic note, setting new benchmarks for the jewellery industry and paving the way for an even stronger, more innovative and globally competitive future for Kerala’s gold and diamond sector.

The next edition of the Kerala Jewellery International Fair (KJIF) will be held from 2nd to 4th July 2027.

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