P N Gadgil Jewellers Limited announced robust unaudited financial results for the nine months ending December 31, 2025. Revenue from operations reached ₹71,948 Mn, marking a 17.8% YoY increase. Profit After Tax (PAT) soared by 104.5% YoY to ₹3,195.6 Mn, while EBITDA grew by an impressive 105.3% YoY. The Chairman highlighted strong festive sales and growth across retail and e-commerce segments.
Robust Financial Performance for 9M FY26
P N Gadgil Jewellers Limited reported strong unaudited financial results for the nine months ended December 31, 2025. The company achieved Revenue from Operations of ₹71,947.9 Mn, a 17.8% YoY increase over 9M FY25. Profitability saw substantial improvement, with EBITDA rising by 105.3% YoY to ₹5,376.9 Mn, driving the EBITDA Margin up 320 bps to 7.5%. Profit After Tax (PAT) nearly doubled, growing by 104.5% YoY to ₹3,195.6 Mn.
Quarterly Highlights (Q3 FY26)
The third quarter (Q3 FY26) specifically demonstrated strong momentum, with Revenue from Operations at ₹33,026.1 Mn, reflecting a 35.6% YoY growth. PAT for the quarter surged by 98.6% YoY to ₹1,709.1 Mn. The Same-Store Sales Growth (SSSG) for the quarter stood strong at 33.0%.
Segmental Growth Drivers
The Retail segment remains the core driver of sales, accounting for 83.2% of total sales in Q3 FY26, achieving a Revenue growth of 46.2%. The company noted a strong performance in the franchise segment, complemented by e-commerce growth.
A breakdown of the 9M FY26 performance (INR Mn) shows:
- Retail Revenue: Increased from ₹41,074.4 Mn (9M FY25) to ₹55,243.7 Mn (9M FY26).
- E-commerce Revenue: Exhibited explosive growth, rising 125.8% from ₹1,671.2 Mn (9M FY25) to ₹3,773.5 Mn (9M FY26).
- The ‘Other’ segment (B2B bullion sales) saw a significant contraction of 67.3% in 9M FY26.
Operational Success Factors
Management attributed the improved profitability to a favorable product mix, increased contribution from Studded jewellery, and disciplined cost management. Key operational highlights for the nine months include:
- Product Performance: Silver category grew 96% in value, while Diamond sales saw a volume rise of over 50% YoY.
- Festive Sales Surge: The company recorded its highest-ever single-day festive sales of ₹1,900 Mn during Dussehra (up 64% YoY) and ₹6,060 Mn during Diwali (up 74% YoY).
- Customer Metrics: Footfall increased by 33%, paired with a strong Conversion rate of 94%. The Average Transaction Value (ATV) rose to ₹103.1k.
Expansion and Outlook
Dr. Saurabh Gadgil, Chairman & Managing Director, confirmed that the company added three new company-owned stores in Q3 FY26, bringing the total retail footprint to 66 stores as of December 2025 (65 in India and 1 in the U.S.A.). The outlook remains focused on driving SSSG and sustaining growth based on upcoming festive and wedding demand.
Source: BSE
