P.N. Gadgil Jewellers Ltd. has recently reported its fourth quarter business update for the financial year ending March 2026, notably hiking its revenue guidance for the upcoming fiscal. The company is now targeting a revenue of Rs 13,500 crore in FY27, a sharp increase from its previous estimates of Rs 11,500 - 12,000 crore.
This revenue guidance increase comes on the back of what the company calls a 'milestone' FY26, where total turnover reached Rs 10,744 crore, which accounted for a growth of 40% on a year-on-year basis.
In the March quarter alone, PN Gadgil's total revenue skyrocketed 124% to Rs 3,552. The growth was broad-based, with the retail segment seeing 102% growth on the back of wedding and festive demand, whereas franchise operations surged 132%. The company's 'others' segment, which includes B2B bullion sales, saw revenue grow from Rs 18 crore in the previous year to Rs 356 crore.
Operationally, PN Gagdil registered a same-store sales growth (SSSG) at 86%. Despite soaring gold prices, volumes remained resilient as well, with gold volumes rising 27% while silver rose 37%, whereas diamond volumes more than doubled with a 125% increase. In addition, the shift towards the high-margin studded jewellery segment has pushed the company's stud radio to 9%.
PN Gadgil also added as many as 12 stores in the March quarter, thus bringing the total store count to 78 as of March 31, 2026. The expansion includes an entry into North India through new store openings in Gorakhpur and Varanasi.
As far as FY27 is concerned, the jeweller is planning to add as many as 25 stores to reach a total store count of 103. The company has a strategic focus on scaling the franchise format alongside company-owned store. The company is further supported by an upgraded credit rating of IND A+/Stable, and is now eyeing an 7.5% Ebitda margin, in addition to the 25% revenue growth target.
Shares of PN Gadgil have surged in trade on Wednesday, having jumped 2.76%, though some of it can also be attributed to overall positive sentiment in the market following Iran-US ceasefire agreement.
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