P N Gadgil Jewellers Reports Strong Q3FY26 Results with 98.6% PAT Growth
P N Gadgil Jewellers delivered outstanding Q3FY26 performance with consolidated revenue reaching ₹33,026.1 million and remarkable PAT growth of 98.6% year-on-year. The company demonstrated strong operational metrics including 33% footfall growth, 94% conversion rate, and successful festive sales with Diwali recording ₹6,060 million in sales. Retail segment led growth at 46.2% while e-commerce surged 137.7%, supported by expansion to 66 stores and effective IPO fund utilization.
*this image is generated using AI for illustrative purposes only.
P N Gadgil Jewellers Limited announced its unaudited standalone and consolidated financial results for the quarter and nine months ended December 31, 2025. The Board of Directors approved these results at their meeting held on February 09, 2026, demonstrating exceptional operational performance with consolidated revenue reaching ₹33,026.1 million and PAT growth of 98.6% year-on-year.
Consolidated Financial Performance
The company delivered outstanding consolidated financial results for Q3FY26, showcasing significant growth across all key metrics. The consolidated results include subsidiaries Gadgil Diamonds Private Limited (India) and PNG Jewelers, Inc. (USA).
| Consolidated Metrics: | Q3FY26 | Q3FY25 | Y-o-Y Growth | Nine Months FY26 | Nine Months FY25 | Y-o-Y Growth |
|---|---|---|---|---|---|---|
| Revenue from Operations: | ₹33,026.1 million | ₹24,357.5 million | 35.6% | ₹71,947.9 million | ₹61,052.4 million | 17.8% |
| EBITDA: | ₹2,717.1 million | ₹1,297.7 million | 109.4% | ₹5,376.9 million | ₹2,619.1 million | 105.3% |
| EBITDA Margin: | 8.2% | 5.3% | 290 bps | 7.5% | 4.3% | 320 bps |
| Net Profit: | ₹1,709.1 million | ₹860.4 million | 98.6% | ₹3,195.6 million | ₹1,562.8 million | 104.5% |
| PAT Margin: | 5.2% | 3.5% | 164 bps | 4.4% | 2.6% | 180 bps |
| Basic EPS: | ₹12.59 | ₹6.34 | - | ₹23.55 | ₹11.52 | - |
Standalone Financial Results
The standalone financial results also reflected strong performance, with revenue from operations reaching ₹32,533.43 million in Q3FY26 compared to ₹24,068.48 million in the corresponding quarter of the previous year.
| Standalone Metrics: | Q3FY26 | Q3FY25 | Nine Months FY26 | Nine Months FY25 |
|---|---|---|---|---|
| Revenue from Operations: | ₹32,533.43 million | ₹24,068.48 million | ₹71,101.18 million | ₹60,563.04 million |
| Total Income: | ₹32,806.54 million | ₹24,147.99 million | ₹71,668.41 million | ₹60,709.57 million |
| Net Profit: | ₹1,662.74 million | ₹852.30 million | ₹3,140.91 million | ₹1,524.90 million |
| Basic EPS: | ₹12.25 | ₹6.28 | ₹23.14 | ₹11.24 |
Segmental Performance Analysis
The company demonstrated strong growth across key business segments, with retail continuing as the primary growth driver. Same-Store Sales Growth (SSSG) for the quarter stood at 33.0%.
| Q3FY26 Segment Performance: | Q3FY25 | Q3FY26 | Growth (%) |
|---|---|---|---|
| Retail: | ₹18,787.7 million | ₹27,470.6 million | 46.2% |
| E-commerce: | ₹705.4 million | ₹1,677.1 million | 137.7% |
| Franchise: | ₹2,273.0 million | ₹2,546.2 million | 12.0% |
| Others: | ₹2,591.4 million | ₹1,332.2 million | -48.6% |
| Nine Months FY26 Performance: | 9M FY25 | 9M FY26 | Growth (%) |
|---|---|---|---|
| Retail: | ₹41,074.4 million | ₹55,243.7 million | 34.5% |
| E-commerce: | ₹1,671.2 million | ₹3,773.5 million | 125.8% |
| Franchise: | ₹5,228.4 million | ₹8,648.0 million | 65.4% |
| Others: | ₹13,078.4 million | ₹4,282.7 million | -67.3% |
Operational Highlights and Market Performance
The company achieved remarkable operational metrics during the quarter, driven by festive and wedding-led demand. Product-wise performance showed Silver category delivering 96% growth in value and 56% growth in volume, while Diamond sales recorded over 50% rise in volume year-on-year, resulting in the stud ratio reaching 8.4%.
| Operational Metrics: | Details |
|---|---|
| Customer Footfall Growth: | 33% increase |
| Conversion Rate: | 94% |
| Transaction Count Growth: | 35% |
| Average Transaction Value: | ₹103.1k |
| Average Revenue per Store (9M FY26): | ₹1,090.1 million |
| Net Profit per Store (9M FY26): | ₹48.4 million |
Festive Sales Performance
Festive sales remained a key driver of success, with Dussehra delivering the company's highest-ever single-day festive sales of ₹1,900 million, increased by 64% year-on-year. The company recorded festive season sales of ₹6,060 million during Diwali, registering a robust 74% growth compared to the previous year.
Store Expansion and Corporate Actions
The company continued its expansion strategy with the addition of three new company-owned stores during the quarter at Moshi (Pimpri-Chinchwad), Patna (Bihar), and Viman Nagar under the LiteStyle format, taking the total retail footprint to 66 stores as of December 2025.
| Corporate Actions: | Details |
|---|---|
| Board Meeting Date: | February 09, 2026 |
| Conference Call Date: | February 10, 2026 |
| Director Appointment: | Postal ballot notice approved for regularization of Mr. Aditya Saurabh Gadgil (DIN: 10052553) |
| Total Stores: | 66 (65 in India, 1 in USA) |
IPO Fund Utilization Status
The company has effectively utilized its IPO proceeds raised in September 2024, with nearly complete deployment of funds across various objectives.
| Object of Issue: | Amount (₹ Million) | Utilized (₹ Million) | Unutilized (₹ Million) |
|---|---|---|---|
| Setting up 12 New Stores in Maharashtra: | 3,925.68 | 3,925.68 | 0.00 |
| Repayment of Borrowings: | 3,000.00 | 3,000.00 | 0.00 |
| General Corporate Purpose: | 1,072.02 | 1,072.02 | 0.00 |
| Issue Related Expenses: | 502.30 | 496.50 | 5.80 |
| Total: | 8,500.00 | 8,494.20 | 5.80 |
Historical Stock Returns for PN Gadgil Jewellers
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| +2.32% | -0.80% | -2.57% | -9.52% | -0.91% | -31.91% |
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