P N Gadgil Jewellers reports robust Q2 & H1 FY26 results, driven by strong festive demand and expansion
P N Gadgil Jewellers reported strong Q2 and H1 FY26 results with significant profit growth, record festive sales, and successful store expansion into new states.
The announcement highlights strong financial performance and ambitious expansion plans, including entering new geographies and a clear long-term store target. These factors are likely to have a significant positive impact on investor perception and the company's growth trajectory.
The company demonstrated substantial financial growth across all key metrics (revenue, gross profit, EBITDA, net profit) for both Q2 and H1 FY26. It also reported record-breaking festive sales and successful strategic expansion into new markets, along with positive future outlooks.
P N Gadgil Jewellers Limited released the transcript of its Q2 and H1 FY26 earnings conference call, held on November 13, 2025, with management highlighting strong financial and operational performance. For Q2 FY26, consolidated revenue from operations stood at ₹2,177.6 crores. Gross profit rose by 91% year-over-year to ₹258.1 crores, with gross margin expanding to 11.9%. EBITDA grew by 117% to ₹142.9 crores, and net profit surged by 127% year-over-year to ₹79.3 crores. For H1 FY26, consolidated revenue from operations was ₹3,892 crores. Gross profit increased by 77% to ₹484 crores. EBITDA grew by 101.3% to ₹266 crores, and net profit rose by 111.6% to ₹148.7 crores. The company reported encouraging consumer sentiment and strong traction during the early festive season, with Navratri sales reaching a record ₹428 crores (66% rise YoY). October sales, including Dussehra and Diwali, exceeded ₹1,800 crores. Eight new stores were launched during Q2 (5 company-owned, 3 franchisee-owned), bringing the total store count to 63. New markets entered include Indore (Madhya Pradesh) and Lucknow and Kanpur (Uttar Pradesh). P N Gadgil Jewellers plans to open 13-15 more stores in H2 FY26, targeting 76-78 stores by March 2026. The long-term goal is to reach 150 stores by March 2028, focusing on regions like Bihar, Chhattisgarh, Jharkhand, Orissa, and Delhi NCR. Key operational metrics included an 18% increase in transaction volume, a 20% rise in footfall, and a 93% conversion rate. The studded jewellery mix increased to 9%. The refinery business was discontinued after September 30, 2024, ensuring future comparisons are apple-to-apple. The company maintains 100% effective hedging on gold inventory and aims to increase the stud ratio to 12-13% in the next two years. New store investments are approximately ₹47-50 crores each.
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P N Gadgil Jewellers Limited filed this with the NSE as a statutory disclosure, categorised under concall transcript released. It is a primary document, not a recommendation, and the desk marks it high impact, which is the band that most often changes something.
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See the model portfoliosA plain-language summary of a public exchange filing by P N Gadgil Jewellers Limited. Read the original for the full detail.