National News
P N Gadgil Jewellers sees 25.9% YoY Growth in Consolidated Revenue to ₹76,934.68 Mn in FY25
EBITDA Up 33.2% and PAT Up 40.7%
P N Gadgil Jewellers Limited, one of the most reputed jewellers in the country, boasts over 192 years of excellence in creativity and trusted service in the retail business of gold, silver, and diamond jewellery, announced its audited financial results for the quarter ended 31st March 2025.
The company achieved its highest-ever single-day festive sales on the occasion of Gudi Padwa, recording revenue of Rs. 123.5 crore in Q4 FY25 an increase of 40.4% year-on-year growth.
Key Financial Highlights:

Particulars (INR Mn) Q4FY25 Q4FY24 Y-o-Y Q3FY25 Q-o-Q FY25 FY24 Y-o-Y
| Revenue from Operations | 15,882.24 | 15,120.16 | 5.0% | 24,357.51 | -34.8% | 76,934.68 | 61,120.22 | 25.9% |
| EBITDA | 1,090.43 | 911.16 | 19.7% | 1,297.70 | -16.0% | 3,709.54 | 2,785.03 | 33.2% |
| EBITDA Margin (%) | 6.9% | 6.0% | +90 bps | 5.3% | +160 bps | 4.8% | 4.6% | +20 bps |
| Profit After Tax | 619.90 | 549.30 | 12.9% | 860.38 | -28.0% | 2,182.68 | 1,551.49 | 40.7% |
| PAT Margins (%) | 3.9% | 3.6% | +30 bps | 3.5% | +40 bps | 2.8% | 2.5% | +30 bps |
Basic EPS 4.57 7.68 6.34 17.10 21.70 *On Consolidated Basis
For FY 25, average revenue per store stands at around Rs. 1,451.60 million, while net profit per store reached Rs. 41.18 million, demonstrating strong efficiency and profitability at the store level.
• Retail segment is 81.5% of our total sales, continues to lead the way, achieving an impressive Revenue growth of 50.1% an EBITDA margin of 7.9% and a PAT margin of 4.2%.
• The company’s E‐commerce segment experienced exceptional growth, with revenue increasing to Rs. 906.80 million, a 243.7% rise.
• Franchise revenue also grew to Rs. 1,852.21 million, with an 37.2% increase for Q4 FY25.
• Strong Same-Store Sales Growth (SSSG) of 26.5% continues to drive sustained growth, underlining the successful performance of our existing showrooms for FY25.
Operational Financial Highlights
• Sustained Demand Momentum Amid High Prices: our transaction volumes surged by 40.3% year-on-year, demonstrating resilient demand and growing customer engagement, even amid record-high gold prices. The average transaction value remained robust at ₹ 77K
• Customer Footfall and Conversion Rate: A 37.8% increase in foot falls, coupled with a strong Conversion rate of 92.3%, 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 Gudi Padwa sales growing by 40.4% YoY.
• Stud Ratio: A 30.8% YoY rise in studded portion, taking the stud ratio to ~8%.

Commenting on the performance, Dr. Saurabh Gadgil, Chairman & Managing Director, P N Gadgil Jewellers Limited, said, “Our Q4 and full-year FY25 performance reflects the strength of our brand, the trust of our customers, and our relentless focus on execution across formats. We have delivered strong growth across all key segments: retail, e-commerce, and franchise driven by our differentiated customer experience, focused expansion, and digital-first approach. We successfully achieved our target store count of 53 by the end of FY25, reinforcing our commitment to strategic growth and deeper market penetration. Despite elevated gold prices during the quarter, we witnessed resilient consumer sentiment and robust demand, underscoring the strength of our brand proposition. With a solid foundation in place, we are well-positioned to build on this momentum and continue creating long-term value for all our stakeholders.
BrandBuzz
VBJ SINCE 1900 Fiesting Over 2000 Unique Jhumka Designs
VBJ Since 1900 celebrates India’s timeless love for jhumkas with its grand Jhumka Festival, showcasing over 2,000 exquisite designs that blend heritage craftsmanship with modern elegance, extending the celebration through December.
VBJ Since 1900 (Vummidi Bangaru Jewellers) India’s most trusted heirloom jewellery brand continues to captivate jewellery connoisseurs with its Jhumka Festival – the flavour of the season giving patrons a further chance to experience the timeless charm reimagined for today’s generation.



The Jhumka Festival celebrates India’s enduring love for the iconic earrings. Featuring over 2,000 unique designs across the categories, gold, silver, diamond and platinum capturing the intricate artistry and timeless craftsmanship. Blending filigree, temple-inspired motifs and modern silhouettes, each piece is a symphony of creating balance between heritage and contemporary elegance.

Speaking about the festival, Amarendran Vummidi, Managing Partner, VBJ Since 1900, said, “For 125 years, VBJ has honoured India’s jewellery traditions while evolving with changing times. This festival elevates the jhumka from a staple to a hero piece – crafted for movement, identity, and expression.”
Jithendra Vummidi, Managing Partner, VBJ Since 1900, added, “A jhumka is more than an ornament – it holds memory, character, and emotion. With this festival, we celebrate a form that resonates across generations, offering timelessness with relevance.”

As a fifth-generation family-run brand, VBJ Since 1900 takes immense pride in its role as the makers of the historic Sengol (sceptre) – a sacred symbol of India’s democratic journey. Discovered after 72 years, the Sengol was meticulously researched and identified by the VBJ team before being installed beside the Speaker’s chair in India’s new Parliament building. Much like the Sengol, the Jhumka Festival stands as a reflection of VBJ’s continuing mission to honour legacy through artistry and celebrate the stories that shape India’s cultural heritage.
During the festive season of Golu and Diwali last month, VBJ witnessed an overwhelming response to its Jhumka Festival – as customers embraced unique designs that seamlessly blend heritage with contemporary charm. Extending the festival till the mid of December is VBJ’s way of celebrating that continued love and demand. Building on this festive momentum, VBJ also showcased the Jhumka’s at Ignition,held at the ITC Grand Chola.
Through the Jhumka Festival, VBJ Since 1900 celebrates heritage and innovation. The collection, available at VBJ stores in Anna Salai and Anna Nagar as well as online, offers select customisation – continuing the brand’s legacy of timeless elegance and bespoke service.
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