PN Gadgil Jewellers Limited (PNGJL) has reported a dazzling performance during the recent Navratri and Dussehra festivals, with total sales soaring to ₹618.00 crore, representing a remarkable 65% year-over-year increase. The company's strong showing during this festive period underscores the resilience of India's jewelry market and PNGJL's growing appeal among consumers.

Navratri Sales Surge

During the nine-day Navratri festival, PNGJL recorded sales of ₹428.00 crore, marking an impressive 66% growth compared to the previous year. This substantial increase reflects the company's successful strategies and the strong demand for its products during one of India's most significant festive seasons.

Record-Breaking Dussehra Performance

Dussehra proved to be particularly auspicious for PNGJL, as the company achieved its highest-ever single-day festive sales of ₹190.00 crore. This figure represents a 64% year-over-year increase, highlighting the company's ability to capitalize on the festive spirit and consumer preferences.

Product Segment Performance

Despite a significant 50% year-over-year and 18% quarter-over-quarter surge in gold prices, demand remained robust. The company sold 456 kg of gold during the festive period, representing a 10% increase in volume.

Management Commentary

Dr. Saurabh Gadgil, Chairman and Managing Director of P N Gadgil Jewellers, expressed pride in the company's performance, stating, "Crossing record sales during Navratri and Dussehra, with Dussehra delivering our highest-ever single-day festive sales, is a proud milestone for PNG Jewellers. This milestone is the result of the festive spirit and the enduring bond we share with our customers."

Expansion and Future Outlook

PNGJL's success can be attributed in part to its strategic expansion efforts. Building on the success of last year's 'Nine Days, Nine Stores' campaign, the company expanded its presence this Navratri by opening 6 exclusive PNG Jewellers showrooms and 4 LiteStyle shop-in-shop stores, enhancing convenience and choice for customers.

Looking ahead, Dr. Gadgil expressed confidence in maintaining this momentum, stating, "As we step into the festive season, our focus will remain on offering contemporary designs with the craftsmanship and service that PNG Jewellers is known for, while strengthening our presence across PAN India. We see this as a strong beginning to the festive quarter and are confident of building on this momentum."

The company's strong performance during Navratri and Dussehra sets a positive tone for the upcoming festive quarter, traditionally a crucial period for the jewelry industry in India. With its expanded retail presence and focus on contemporary designs, P N Gadgil Jewellers appears well-positioned to capitalize on the festive demand in the coming months.

PN Gadgil Jewellers Limited, a renowned name in the Indian jewellery industry, has announced a significant expansion of its retail presence in Maharashtra. The company has opened two new stores in quick succession, marking a robust growth strategy during the festive season.

New Store in Borhadewadi, Moshi

PN Gadgil Jewellers inaugurated a new store in Borhadewadi, Moshi, Pimpri-Chinchwad, Maharashtra. The store officially opened its doors at 12:15 PM, adding to the company's growing network of retail outlets. This expansion brings the total number of PN Gadgil Jewellers stores to 64, reinforcing the company's commitment to reaching more customers across the region.

Expansion in Wakad

In addition to the Moshi store, the company has also opened a new outlet in Wakad, another rapidly developing area in Pimpri-Chinchwad. This dual expansion strategy highlights PN Gadgil Jewellers' focus on tapping into emerging markets within Maharashtra.

Festive Season Launch

The store openings coincide with the Navratri festival, a traditionally auspicious period for jewellery purchases in India. Dr. Saurabh Gadgil, Chairman and Managing Director of PNG Jewellers, emphasized the significance of this timing, stating, "The launch during Navratri makes this moment even more special, as the festival embodies new beginnings, prosperity, and togetherness, values that perfectly resonate with PNG Jewellers' legacy and vision."

Attractive Inaugural Offers

To celebrate the launch of these new stores, PN Gadgil Jewellers is offering attractive discounts to customers:

• Up to 50% off on gold jewellery making charges
• Up to 100% off on diamond jewellery making charges
• 0%* deduction on old gold exchange

Celebrity Endorsement

Bollywood actress Chitrangada Singh graced the launch event in Moshi, adding star power to the occasion. She praised the brand, saying, "PNG Jewellers has always been a brand that connects with families and traditions. Their commitment to serving customers with sincerity and artistry makes every new store a true celebration."

Product Range

Both new stores will showcase PN Gadgil Jewellers' complete range of gold, diamond, silver, and platinum jewellery. This includes popular bridal collections such as Pratha, Golden Katha, Eiina, and Saptam, offering a mix of traditional and lightweight modern designs to cater to diverse customer preferences.

Company Background

PN Gadgil Jewellers boasts a rich heritage of over 193 years in the jewellery industry. Under the leadership of Dr. Saurabh Gadgil, the company has been expanding its presence not only in India but also in the USA, aiming to cater to a global customer base.

With these strategic expansions, PN Gadgil Jewellers continues to strengthen its position in the competitive jewellery market, particularly in Maharashtra's evolving retail landscape. The company's focus on both tradition and innovation appears to be driving its growth strategy as it seeks to connect with new generations of jewellery consumers.