P N Gadgil Jewellers Q4 FY26 Revenue Surges to ₹3,552 Crore, Up 124% YoY
P N Gadgil Jewellers reported Q4 FY26 revenue of ₹3,552 crore, a 124% YoY increase. Full FY26 revenue reached ₹10,744 crore, up 40% YoY. The company added 12 stores, reaching 78 total. Credit rating upgraded to IND A+/Stable. FY27 revenue target is ₹13,500 crore with 25% growth.
The substantial revenue growth, credit rating upgrade, and ambitious future targets indicate a significant positive impact on the company's financial standing and market perception.
The company reported significant year-on-year revenue growth for both the quarter and the full fiscal year, along with a credit rating upgrade and positive future outlook, indicating strong financial performance and market confidence.
P N Gadgil Jewellers Limited (PNGJL) has reported an exceptional performance for the fourth quarter and full fiscal year 2026. The company's total revenue for Q4 FY26 reached ₹3,552 crore, marking a significant year-on-year growth of 124%. For the full fiscal year 2026, the company reported a revenue of ₹10,744 crore, representing a 40% year-on-year increase.
The strong performance in Q4 FY26 was driven by a robust retail segment, which saw a 102% year-on-year growth, fueled by demand during the wedding and festive season. Franchise operations grew by 132% year-on-year, while e-commerce recorded a 67% year-on-year increase. Excluding the 'other segment' (primarily B2B bullion sales and corporate segment), revenue grew by 104% year-on-year in Q4 FY26.
Festive and event sales contributed significantly, with Foundation Day sales amounting to ₹365 crore and Gudi Padwa sales reaching ₹171 crore (a 38% YoY growth). Gratitude Day sales, celebrating the milestone of ₹10,000 crore in revenue, stood at ₹225 crore.
Despite rising gold prices, sales volumes showed positive traction. Gold category volumes increased by 27% year-on-year, silver volumes rose by 37% year-on-year, and diamond volumes saw a substantial 125% year-on-year increase. The studded jewelry mix improved, with the stud ratio reaching 9%. Same-store sales growth (SSSG) for the quarter was a robust 86% year-on-year.
Operationally, PNGJL added 12 new stores during the quarter (8 COCO and 4 FOCO), bringing the total store count to 78 as of March 31, 2026. This expansion included strengthening presence in Maharashtra and entering Uttar Pradesh with new outlets in Gorakhpur and Varanasi.
In a significant development, the company's long-term credit rating was upgraded to IND A+/Stable from IND A, and the short-term rating was reaffirmed at IND A1.
Looking ahead to FY27, PNGJL plans to open 25 new stores, targeting a total store count of 103 by the end of the fiscal year. The company is projecting a revenue of ₹13,500 crore, implying a 25% year-on-year growth, and an EBITDA margin of 7.5%.
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