P N Gadgil Jewellers delivered a strong operational performance in Q1 FY27, reporting robust revenue growth of 41% year-over-year. This growth was primarily driven by the retail segment, which surged 56% year-over-year, underpinned by a 46% increase in same-store sales growth (SSSG). The company’s financial performance for the quarter remains in line with its previously stated Gross margin and EBITDA margin guidance for FY27.

Retail and Segment Performance

The Retail segment contributed approximately 78% of the total revenue, a figure meaningfully higher on a year-over-year basis. The robust same-store sales growth indicates that the expansion was substantially organic, driven by deeper customer engagement at existing stores. Meanwhile, the Franchise and E-com businesses grew by 8% and 20% year-over-year, respectively. The share of gold bullion sales in Retail revenue normalized to a stable level of approximately 22%, compared to a higher share in the previous quarter, signaling a structural improvement in revenue quality.

Product Mix and Expansion

The company recorded strong growth across categories, with diamond jewellery reflecting a growing consumer preference for studded jewellery. Consequently, the retail stud ratio improved to 10.9%. Recently launched stores in Northern and Central India, contributing around 3.4% of Retail sales, are already recording a meaningfully higher stud ratio than the established network in Maharashtra and Goa. As of June 30, 2026, the total store count stood at 78, comprising 77 stores in India and 1 in the U.S.A.

Key Performance Metrics

Outlook

P N Gadgil Jewellers remains on track with its plan of opening approximately 25 new stores during FY27, aiming to take the total store count to around 103 by the end of the fiscal year. The rollout will be phased across the remaining three quarters, utilizing a franchise-led approach across both Legacy and LiteStyle formats to deepen presence in Maharashtra and expand into Uttar Pradesh, Bihar, Central India, and the NCR region.

P N Gadgil Jewellers Limited confirmed on April 9, 2026, that none of its promoters or members of the promoter group have encumbered any shares held by them during the financial year ended March 31, 2026. The disclosure ensures that the shareholding structure remains free from pledged assets, a key indicator of financial stability for investors.

Saurabh Vidyadhar Gadgil, Promoter and Managing Director, submitted the declaration to BSE Limited and the National Stock Exchange of India Limited. The filing was made pursuant to Regulation 31(4) of the Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. The regulation requires periodic disclosures regarding any encumbrance on promoter shares to maintain transparency in the capital markets.

The confirmation covers the promoter and promoter group, along with persons acting in concert. The list includes 23 entities ranging from individual promoters to various trusts and private limited companies associated with the group.

Promoter and Promoter Group Details

The following table details the entities included in the disclosure:

The Audit Committee of P N Gadgil Jewellers has been marked as a copy recipient of the disclosure. The company requested the exchanges to place the information on record.