PNGJL

Shares of P N Gadgil Jewellers reported a mixed performance for the March quarter, with strong growth in revenue and profit offset by a sharp contraction in margins. The company’s consolidated revenue surged 123.2% year-on-year (YoY) to ₹3,544.3 crore, while EBITDA rose 52.5% YoY to ₹166.3 crore. However, EBITDA margins declined sharply by 217 basis points to 4.7% during the quarter. Net profit increased 45.6% YoY to ₹90.3 crore. The company witnessed robust demand across categories, with gold sales rising 120% in value and 27% in volume, while silver sales jumped 246% in value and 37% in volume. Footfall increased 10%, supported by a 9% growth in transaction count and higher consumer spending, taking the Average Transaction Value (ATV) to ₹100.2 thousand. The retail segment, which contributed 77% of total sales, recorded a 101.5% rise in revenue, while the e-commerce business posted 67.3% YoY growth with revenue reaching ₹151 crore. Franchise revenue also surged 132% to ₹429 crore during Q4FY25, while Same-Store Sales Growth (SSSG) stood at a strong 86%, reflecting healthy demand across existing stores. For FY26, the company reported average revenue per store of around ₹137.7 crore and net profit per store of ₹5.25 crore. Full-year net profit climbed 88% to ₹410 crore from ₹218.3 crore, while revenue from operations rose 39.6% YoY to ₹10,739.1 crore from ₹7,693.5 crore. EBITDA margins for FY26 improved by 180 basis points to 6.6%, highlighting strong operational performance despite quarterly margin pressure.