P N GADGIL JEWELLERS LTD. RECORDS CONSOLIDATED REVENUE GROWTH OF 33% YOY TO RS 16,681.82 MILLION IN Q1FY25

7th October 2024

P N Gadgil Jewellers Ltd.’s consolidated revenue grew by approximately 33% in Q1FY25 compared to Q1FY24, primarily driven by robust sales momentum across stores. Recording a PAT of Rs. 353.21 million in Q1FY25 and growth of over 59% compared to last fiscal year in the same quarter

Financial Performance

The company’s total revenue for the quarter was Rs. 16,681 million, compared to Rs. 12,568 million for the same period during the previous financial year. The company recorded an EBIDTA of Rs. 662.58 million for Q1FY25, compared to Rs. 456.44 million in the same quarter of the previous year.

Festival Impact on Sales

During the first quarter, there were two festivals, i.e. Gudi Padwa and Akshaya Tritiya, and sales during Gudi Padwa have seen growth of 78% and Akshaya Tritiya have seen growth of 31% when compared to the previous year.

Retail Revenue Growth

Retail Revenue in FY 25 grew Rs. 9881.62 million from Rs. 7892.05 million in FY 24, a growth of 25% YoY. The Retail EBITDA in FY 25 grew to Rs. 632.69 million from Rs. 431.30 million in FY 24, a growth of 47% YoY. The Retail PAT in FY 25 grew to Rs. 338.93 million from Rs. 209.18 million in FY 24, a growth of 62% YoY.

E-commerce and Franchise Performance

E-com Revenue in Q1FY 25 grew to Rs. 292.64 million from Rs. 132.98 million YOY in FY 24, a growth of 120%. Franchise Revenue in FY 25 grew Rs. 1283.41 million from Rs. 1040.61 million in FY 24, a growth of 23%.

Store and Transaction Metrics

Revenue per store in FY 25 grew to Rs. 427 million from Rs. 393 million in FY 24, showcasing a growth of 9%. Branch-wise profitability grew to Rs. 9.06 million from Rs. 6.92 million in FY 24, a growth of 31%. Average Transaction Value of Sale (ATV) grew to Rs. 1,05,454 from Rs. 84,706 in FY 24, a growth of 25%.

New Collections and Store Launches

During the first quarter, P N Gadgil Jewellers launched fresh collections of Saptam 2 (Gold Jewellery) and Polmi Polki Collection (Diamond Jewellery). P N Gadgil Jewellers launched three new Stores in Maharashtra during the Q1 FY 25, taking the total tally to 39 Stores.

Leadership Insights

Dr Saurabh Gadgil, Chairman and Managing Director of P N Gadgil Jewellers Ltd., said, “The recently concluded quarter has been a very satisfying one; we witnessed robust operating performance across all our markets despite extreme volatility in gold prices; Q1FY25 proved to be a strong base quarter that exceeded expectations. The pace of demand in this quarter was stronger than what we experienced in Q1FY24. The Government’s deadline to implement compulsory hallmarking is a significant development for the jewellery sector, fostering greater transparency and accelerating the shift from unorganised to organised players. With these favourable dynamics, organised players such as ourselves are well-positioned to capitalise on this opportunity and drive sustained growth.”

About P N Gadgil Jewellers Ltd:

PNG Jewellers is one of the most reputed jewellers in the country, with over 192 years of excellence in creativity and trusted service for customers all over the world. Under the able leadership of Dr. Saurabh Gadgil, a visionary entrepreneur, P.N. Gadgil Jewellers Limited is creating a brand that is catering to customers globally.