| Revenue growth | 41% YoY growth driven by retail and Akshay Tritiya sales. |
|---|---|
| Margins | EBITDA margin at 8%, expansion driven by studded jewellery mix. |
| Demand visibility | Positive visibility from upcoming wedding season and festival demand. |
| Management confidence | Balanced; optimistic about expansion but conservative on cost management. |
Growth
Revenue grew 41% YoY, with retail growing 56% on high same-store sales growth. Studded ratio improved to 10.9%.
Outlook
Targeting 177 stores by FY29; guiding for 4.7% PAT margins and debt reduction of ₹500-600 Cr.
Risks
Gold price volatility impacting demand; heavy expansion reliance on franchise model potentially diluting margins; debt levels remain significant.
Last quarter's promises, checked
Delivered
- Guided FY26 Revenue INR 9,500 Cr → delivered INR 10,739 Cr (= BEAT)
- Guided FY26 PAT Margin ~4% → delivered 3.8% (= BEAT)
- Guided FY26 Gross Margin ~12% → delivered 12% (= BEAT)
Partly delivered
- Guided 25 store additions for FY26 → delivered 25 (but 12 in Q4) (= BEAT)
Earnings Call Transcript filed with BSE, NSE: PNGJL. Summary written with AI assistance from the document.
P N Gadgil Jewellers Ltd: key numbers
- Share price
- ₹605.50
- Market cap
- ₹8,913 Cr
- Revenue (annual)
- ₹10,739 Cr
- Net profit (annual)
- ₹409.8 Cr
- P/E (TTM)
- 20.0×Sector 55.7×
- Promoter holding
- 76.62%-6.49% QoQ
- FII holding
- 4.73%Current quarter
Reference market data from a third-party provider, updated daily. Not a valuation or a recommendation.
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- Value
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- Execution
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- Value
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