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.
National News
US Demand Slowdown Hits Diamond, Apparel, Exporters As Factories Shut and Orders Dry Up
A Dual Challenge Of Softening US Demand and Unpredictable Tariff Structures Is Creating Severe Operational Strain Across India’s Export-Driven Manufacturing Sectors.
A dual challenge of softening US demand and unpredictable tariff structures is creating severe operational strain across India’s export-driven manufacturing sectors. Key industrial hubs—specifically Noida’s garment manufacturing sector and Surat’s natural diamond cutting and polishing cluster—are implementing widespread austerity measures, downsizing workforce numbers, and extending holiday shutdowns to mitigate margin erosion.
US buyers are either delaying long-term commitments or demanding steep 20–30% price discounts to absorb potential tariff costs, forcing Indian factories to absorb overheads while revenue stays locked.
Surat’s diamond polishing units have stretched traditional Diwali holiday closures to 25 days this year, compared to 15 days in the previous year. Approximately 300 small-scale diamond cutting and polishing units have shut operations over the past six months,
Demand Drivers Behind the Slump:Weakened retail consumer demand across the United States.Persistent macroeconomic softness and subdued order volumes from China, another primary export market.
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