P N Gadgil Jewellers Limited announced its audited financial results for the quarter and full year ended 31st March 2026, reporting record FY26 consolidated revenue of ₹1,07,391 million, marking a strong 39.6% year-on-year growth. The company also reported an 87.8% rise in Profit After Tax, supported by strong festive demand, rising customer traction, growth in studded jewellery, and continued expansion across key Indian markets.
Quick Summary
- P N Gadgil Jewellers reported record FY26 revenue of ₹1,07,391 million
- Revenue from operations grew 39.6% YoY
- Profit After Tax increased 87.8% YoY
- EBITDA rose 89.6% YoY to ₹7,040 million
- Same-Store Sales Growth stood at 86% YoY for Q4 FY26
- Retail business grew 50.5% YoY in FY26
- E-commerce segment grew 105.2% YoY
- Franchise segment reported 83% YoY growth
- Gold, silver, and diamond categories witnessed strong value and volume growth
- Company expanded store network to 78 stores across India and the U.S.
Company Announces Audited FY26 Financial Results
Pune, 14th May 2026 – P N Gadgil Jewellers Limited, one of the most reputed jewellers in the country, boasting 194 years of excellence in craftsmanship and trusted service in the retail business of gold, silver, and diamond jewellery, announced its audited financial results for the quarter and full year ended 31st March, 2026.
Key Financial Highlights
P N Gadgil Jewellers Reports Record FY26 Revenue of 1,07,391 Million; Revenue Surges 39.6% YoY and PAT Grows 87.8%
| Particulars (INR Mn) | Q4 FY26 | Q4 FY25 | Y-o-Y | Q3 FY26 | Q-o-Q | FY26 | FY25 | Y-o-Y |
|---|---|---|---|---|---|---|---|---|
| Revenue from Operations | 35,443.1 | 15,882.2 | 123.2% | 33,026.1 | 7.3% | 1,07,391.0 | 76,934.7 | 39.6% |
| EBITDA | 1,663.3 | 1,090.4 | 52.5% | 2,717.1 | -38.8% | 7,040.2 | 3,714.0 | 89.6% |
| EBITDA Margin (%) | 4.7% | 6.9% | -217 bps | 8.2% | -353 bps | 6.6% | 4.8% | 180 bps |
| Profit After Tax | 902.6 | 619.9 | 45.6% | 1,709.1 | -47.2% | 4,098.2 | 2,182.7 | 87.8% |
| PAT Margins (%) | 2.5% | 3.9% | -136 bps | 5.2% | -263 bps | 3.8% | 2.8% | 100 bps |
| Basic EPS | 6.7 | 4.6 | 12.6 | 30.2 | 17.1 |
*On Consolidated Basis
Same-Store Sales Growth Remains Strong
The Same-Store Sales Growth (SSSG) for the quarter remained strong at 86% YoY, reflecting healthy customer traction across existing stores, while full-year SSSG stood at 43% YoY.
Segmental Performance Highlights
| Segment | FY26 (INR Mn) | FY25 (INR Mn) | Growth |
|---|---|---|---|
| Retail | 81,306.9 | 54,008.3 | 50.5% |
| E-commerce | 5,290.7 | 2,578.0 | 105.2% |
| Franchise | 12,916.5 | 7,057.3 | 83.0% |
| Others | 7,876.9 | 13,291.1 | -40.7% |
| Segment | Q4 FY26 (INR Mn) | Q4 FY25 (INR Mn) | Growth |
|---|---|---|---|
| Retail | 26,063.1 | 12,933.9 | 101.5% |
| E-commerce | 1,517.2 | 906.8 | 67.3% |
| Franchise | 4,297.8 | 1,852.2 | 132.0% |
| Others | 3,565.0 | 189.4 | 1782.7% |
*Note – The ‘Others’ segment primarily comprises of B2B bullion sales from the Head Office and corporate segment.
Strong Store-Level Profitability
For FY26, average revenue per store stands at around Rs. 1,376.8 million, while net profit per store reached Rs. 52.5 million, demonstrating strong efficiency and profitability at the store level.
Product-Wise Performance Highlights
Product-wise Performance: For the quarter ended 31st March 2026, the gold category recorded 120% growth in value and 27% growth in volume, while the silver category delivered 246% growth in value and 37% growth in volume. The diamond category also posted 84% growth in value and over 125% growth in volume YoY, resulting in the retail stud ratio reaching 9.9%.
Festive & Event Sales Momentum
Event & Festive Sales Surge: Festive and celebratory sales continued to witness strong momentum during the period, driven by robust consumer demand across categories. Foundation Day sales stood at ₹3,651.1 million, followed by an impressive Gudi Padwa performance with sales of ₹1,707.0 million, reflecting a strong 38% YoY growth. Additionally, Gratitude Day celebrations marking the milestone of surpassing ₹1,00,000 million in revenue generated healthy sales of ₹2,254.4 million.
Customer Footfall & Conversion Rate Growth
Customer Footfall and Conversion Rate: A 10% increase in footfall, coupled with a strong conversion rate of 93%, further fuels our growth, reflecting increased Demand, customer engagement and sustained purchasing behaviour at the store level.
Increased Transaction Count and ATV
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 9%, taking the Average Transaction Value (ATV) to Rs. 100.2k.
Revenue Breakdown Excluding Other Segment
| Particulars (INR Mn) | Q4 FY26 | Q4 FY25 | Y-o-Y | FY26 | FY25 | Y-o-Y |
|---|---|---|---|---|---|---|
| Revenue Excl. Other | 31,878.1 | 15,692.9 | 103.1% | 99,514.0 | 63,643.6 | 56.4% |
| Other | 3,565.0 | 189.4 | 1782.7% | 7,876.9 | 13,291.1 | -40.7% |
| Revenue from Operations | 35,443.1 | 15,882.2 | 123.2% | 1,07,391.0 | 76,934.7 | 39.6% |
Chairman & Managing Director Comments on FY26 Performance
Commenting on the performance, Dr. Saurabh Gadgil, Chairman & Managing Director, P N Gadgil Jewellers Limited, said, “FY26 was a defining year for P N Gadgil Jewellers as the Company crossed the ₹100,000 Mn revenue milestone for the first time, delivering consolidated revenue of ₹107,391 Mn, reflecting a strong growth of 39.6% year-on-year. The year witnessed healthy momentum across markets despite elevated gold prices, supported by strong wedding and festive demand, new collections, and increasing consumer preference for lightweight and studded jewellery.
Profitability improved significantly during the year, with EBITDA rising 89.6% year-on-year to ₹7,040 Mn and Profit After Tax increasing 87.8% year-on-year to ₹4,098 Mn, driven by a favourable product mix, higher contribution from studded jewellery, operating leverage, and disciplined cost management.
Retail continued to remain the primary growth driver, recording strong YoY growth of 50.5%, while the Franchise and E-commerce segments grew by 83.0% and 105.2% respectively, reflecting continued brand strength and strong omni-channel execution.
The Company continued to execute its expansion strategy during the year, with one of the key operational highlights being its entry into Madhya Pradesh, Uttar Pradesh, and Bihar, along with continued expansion across Maharashtra, in line with its aspiration to emerge as a leading pan-India jewellery player. During FY26, the Company expanded its store footprint to 78 stores, further strengthening its presence across key high-potential markets.”
About P N Gadgil Jewellers Limited
Established in 1832, P N Gadgil Jewellers Limited is a leading jewellery retailer in India with around 194 years of heritage. The company offers a wide range of gold, silver, diamond and platinum jewellery for weddings, festivals, and daily wear. As of March 31st, 2026, the Company operates 78 retail stores – 77 in India and 1 in the U.S.A. The portfolio also includes a dedicated sub-brand, LiteStyle by PNG, which caters to the growing demand for stylish and lightweight jewellery.
Under Chairman & Managing Director Dr. Saurabh Gadgil, a sixth-generation entrepreneur with 25+ years of experience, P N Gadgil Jewellers has evolved into a contemporary brand with strong customer trust and loyalty.
FAQ
What was P N Gadgil Jewellers’ total FY26 revenue?
P N Gadgil Jewellers reported consolidated FY26 revenue of ₹1,07,391 million.
How much did P N Gadgil Jewellers’ PAT grow in FY26?
Profit After Tax grew 87.8% YoY to ₹4,098.2 million.
What was the company’s Same-Store Sales Growth in Q4 FY26?
The company reported Same-Store Sales Growth of 86% YoY during Q4 FY26.
Which business segments showed strong growth?
Retail, franchise, and e-commerce segments all reported strong YoY growth during FY26.
How did the gold, silver, and diamond categories perform?
Gold category value grew 120%, silver category value grew 246%, and diamond category value grew 84% YoY during Q4 FY26.
How many stores does P N Gadgil Jewellers operate?
As of March 31st, 2026, the company operates 78 stores globally.
Source: SVAR Media Network
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