National News

PGI’s new global brand proposition “Metal of Truth”, underscores platinum as symbol of authenticity and enduring value

Published

5 months ago

June 14, 2025

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Platinum Guild International (PGI) successfully hosted the 2025 Platinum Jewellery Business Review (PJBR) on May 21, 2025, in London. Themed “Platinum Jewellery – Ready to Shine in a New Era of Demand”, the event convened leading stakeholders from across the platinum value chain—including producers, industry experts, investors, analysts, and marketing professionals—to assess market trends and explore new growth opportunities for platinum in the global jewellery sector.

Tim Schlick, CEO of PGI, opened the event by presenting a comprehensive review of the global platinum jewellery market. He highlighted the emerging opportunity for platinum to gain market share from white gold, particularly in light of favourable price differentials.

Schlick also unveiled PGI’s new global brand proposition for platinum jewellery: “Metal of Truth.” This positioning reaffirms platinum as a symbol of authenticity, rarity, and lasting value, and aims to strengthen its emotional resonance with consumers during life’s most meaningful moments. As a naturally white metal with a high purity level (typically 95%), platinum continues to distinguish itself as the ultimate material for fine jewellery.

Industry Panel Discussion

Tim Schlick moderated a panel discussion featuring:

Wilma Swarts, Director of PGM Research, Metals Focus
Hilton Ingram, Executive Head of Marketing, Valterra Platinum
Andrew Morton, Managing Director, Weston Beamor
Masakazu Tanaka, CEO, Tanaka Precious Metal Retailing Co., Ltd.

The panel explored how platinum jewellery could capitalise on the widening price gap with gold, particularly by targeting substitution opportunities in white gold segments (14-karat and above). Insights were shared from various points of the value chain, underscoring collaborative efforts required to drive growth.

Market Outlook and Strategic Insights

Zhenzhen Liu, Director of Global Corporate Marketing at PGI, presented an analysis of 2024 market performance and the 2025 outlook. Liu outlined how PGI’s strategic, consumer-led initiatives are stimulating demand and reshaping perceptions of platinum across core markets.

Regional Market Highlights

India and the Middle East

Despite disruptions due to national elections in Q2 2024, platinum jewellery fabrication in India rose by 14% year-on-year.
The Men of Platinum brand, including the MS Dhoni signature collection, has emerged as the top retail sales contributor across PGI brands.
PGI successfully piloted branded jewellery initiatives in the UAE, targeting Indian expatriates, other South Asians, and local Emiratis.
Double-digit growth is forecast for both India and the UAE in 2025, led by increasing demand for men’s jewellery.

United States

Retail sales of platinum jewellery increased 7% year-on-year, driven by a strategic shift from white gold to platinum, supported by price advantages and trade engagement.
The rise of lab-grown diamonds has incentivised retailers to adopt platinum to increase average transaction values and margins.
PGI USA introduced Inoveo Platinum, a new alloy developed by Valterra Platinum and Alloyed, which enhances manufacturing efficiency. Over 30 manufacturers have adopted the alloy since its launch in June 2024.

Japan

Substitution from gold to platinum intensified, with gold fabrication declining by 7%, while platinum fabrication increased 11%.
Retail ounce demand rose 6%, driven by asset-based jewellery, bridal rings, and inbound tourism.
Platinum’s share of white metal jewellery increased to 28%, continuing to outpace white gold (down to 19%), with further gains expected in 2025.

China

Platinum jewellery fabrication rebounded by 10% year-on-year in Q4 2024, accelerating to 50% growth in Q1 2025.
The market benefited from rising gold prices, prompting manufacturers to pivot towards platinum.
New dedicated platinum wholesale showrooms opened in Shenzhen, and several gold manufacturers converted production lines to platinum.
PGI’s industry partnerships and interventions are expected to help sustain this upward momentum in 2025.

National News

P N Gadgil Jewellers Reports 127% Surge in PAT for Q2 FY26; Strong Growth Across Retail, E-commerce, and Franchise Segments

Published

2 hours ago

November 12, 2025

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P N Gadgil Jewellers Limited, one of India’s oldest and most trusted jewellery houses with a 193-year legacy, has announced its unaudited consolidated financial results for the quarter ended September 30, 2025 (Q2 FY26), showcasing exceptional performance across key parameters.

The company reported an EBITDA of Rs.1,429.4 million, marking a 117% year-on-year (YoY) increase, and a Profit After Tax (PAT) of Rs.793.1 million, reflecting a 127% YoY growth. Revenue from operations rose to Rs.21,776.2 million, up 8.8% YoY and 27% sequentially (QoQ). EBITDA margin expanded by 327 basis points to 6.6%, while PAT margin improved to 3.6%.

For H1 FY26, total revenue stood at Rs.38,921.8 million, growing 6.1% YoY, with an average revenue per store of Rs.617.81 million and net profit per store of Rs.23.69 million, underscoring strong operational efficiency.

Segmental Highlights

Retail: Contributed 72.2% of total sales, achieving 28.9% revenue growth, with EBITDA margin at 9.1% and PAT margin at 5.1%.
E-commerce: Delivered a stellar 113.2% YoY growth, with revenue rising to ₹1,435.1 million.
Franchise: Registered a 104.7% increase, with revenue reaching Rs.3,408.9 million in Q2 FY26.
Same-Store Sales Growth (SSSG): Improved by 29% over the previous quarter.

Operational Highlights

Transaction Volume & Spend: Transaction count grew 18%, while the Average Transaction Value (ATV) increased to Rs.90,000.
Customer Engagement: Footfall rose 20% with a robust 93% conversion rate, signalling strong consumer sentiment.
Festive Momentum: Achieved record Navratri sales of ₹4,281 million, up 66% YoY.
Category Performance: Gold sales rose 24% in value and 15% in volume, Silver surged 92% in value and 59% in volume, while Diamonds recorded a 31% volume rise, lifting the stud ratio to 9%.

Excluding refinery operations, total revenue grew by 31.4% YoY in Q2 FY26 and 30.9% YoY in H1 FY26, highlighting robust growth across all core business segments.

P N Gadgil Jewellers’ strong performance reflects its strategic focus on customer experience, digital growth, and retail expansion, reaffirming its leadership position in India’s jewellery industry.

Commenting on the performance, Dr. Saurabh Gadgil, Chairman & Managing Director, P N Gadgil Jewellers Limited, said, “Our revenue stood at 38,921.8 million, EBITDA at 2,659.8 (up 101.3% YoY), and PAT at ₹1,486.5 million (up 111.6% YoY) in H1 FY26, supported by healthy growth across all segments, led primarily by the Retail business. Our signature events, Mangalsutra Mahotsav and Paijan Mahotsav, received an exceptional customer response, while record-breaking Navratri sales of Rs.4,281 million provided a strong close to the quarter’s performance.

During the quarter, we also launched a flagship store in Dadar, Mumbai, further strengthening our presence in Maharashtra, and expanded beyond our home state, entering new markets in Uttar Pradesh and Madhya Pradesh. With Dussehra, Diwali, and the upcoming wedding season in the subsequent quarter, we remain optimistic about sustaining this growth momentum.”