PN Gadgil Jewellers Limited (PNGJL), a prominent name in the Indian jewellery retail sector, has announced the opening of a new store in Indore, Madhya Pradesh, marking a significant expansion of its retail network.

New Store Details

The company officially inaugurated its latest outlet on August 23, 2025, at 6:30 PM. The new store is strategically located at Satguru Elite, M.G. Road, Indore, Madhya Pradesh. This expansion brings P N Gadgil Jewellers' total store count to 58 outlets across India.

Regulatory Disclosure

In compliance with regulatory requirements, P N Gadgil Jewellers Limited promptly informed both the Bombay Stock Exchange (BSE) and the National Stock Exchange of India Limited (NSE) about this development. The disclosure was made under Regulation 30 of the Securities and Exchange Board of India (SEBI) Listing Obligations and Disclosure Requirements Regulations, 2015.

Company Growth

The opening of this new store underscores P N Gadgil Jewellers' commitment to expanding its retail presence and reaching a wider customer base. With 58 stores now operational, the company continues to strengthen its position in the competitive Indian jewellery market.

About P N Gadgil Jewellers Limited

P N Gadgil Jewellers Limited, formerly known as P N Gadgil Jewellers Pvt. Ltd., is a well-established jewellery retailer headquartered in Pune, Maharashtra. The company is known for its wide range of traditional and contemporary jewellery designs. This store opening represents another step in P N Gadgil Jewellers' growth strategy, potentially enhancing its market presence in central India and contributing to its overall business expansion efforts.

PN Gadgil Jewellers , a prominent Indian jewelry retailer, has reported robust financial results for the first quarter, demonstrating resilience in the face of surging gold prices. The company's performance highlights its strong market position and effective strategies in navigating challenging market conditions.

Strong Financial Performance

PN Gadgil Jewellers delivered impressive quarterly results with consolidated revenue growing 3% year-over-year to Rs 1,715.00 crores. The company achieved significant margin expansion, with gross profit surging 63% and gross margin improving from 8.3% to 13.2%. EBITDA grew by 85.4% to Rs 122.00 crores, while Profit After Tax (PAT) increased by 97% to Rs 69.30 crores, resulting in a PAT margin of 4%.

This strong performance came despite a 35% year-on-year surge in gold prices, showcasing the company's ability to maintain profitability in a volatile market environment.

Key Growth Drivers

Several factors contributed to PN Gadgil Jewellers' robust performance:

1. Studded Jewelry Sales: The company reported a 41.6% increase in studded jewelry sales, which now represents 10% of total retail sales.
2. Strong Festive Sales: Record Akshaya Tritiya sales of Rs 139.50 crores demonstrated the company's ability to capitalize on festive demand.
3. Retail Segment Growth: The retail segment, contributing 70.3% of total sales, saw a 19% year-over-year growth.
4. E-commerce and Franchise Expansion: E-commerce revenue surged 126%, while franchise revenue rose 109%, indicating successful diversification of sales channels.

Customer Engagement and Store Expansion

Despite higher gold prices, customer engagement remained robust:

• Transaction volumes increased by 23%
• Footfall rose by 25%

The company added two new LiteStyle stores during the quarter, bringing the total store count to 55. Management plans to add 20-23 stores over the next three quarters, expanding beyond Maharashtra into Central and North India, starting with Indore, Kanpur, and Lucknow.

Future Outlook

PN Gadgil Jewellers' management expressed confidence in the company's growth trajectory. The planned expansion into new geographical markets, coupled with the success of its LiteStyle brand and strong performance in studded jewelry, positions the company well for continued growth.

The company's ability to maintain strong margins and profitability despite rising gold prices demonstrates its resilience and effective business strategies. As PN Gadgil Jewellers continues to expand its footprint and diversify its product offerings, it appears well-positioned to capitalize on the growing demand for jewelry in India.

Annual General Meeting Highlights

In its recent 12th Annual General Meeting, PN Gadgil Jewellers addressed several key points:

• The company sought shareholder approval to increase its overall borrowing limit.
• Revisions to the remuneration of key executives, including the Managing Director and Whole-time Directors, were proposed.
• The appointment of new Independent Directors and a Secretarial Auditor was put to vote.
• A resolution to approve raising funds through the issuance of equity shares was also presented.

These resolutions indicate the company's focus on strengthening its governance structure and preparing for future growth opportunities.

As PN Gadgil Jewellers continues to navigate the dynamic jewelry market, its strong Q1 performance and strategic initiatives suggest a positive outlook for the company's future growth and market position.