PNGS Gargi Fashion Jewellery Limited has announced the opening of a new exclusive brand store at Nexus MBD Neopolis Mall in Ludhiana, Punjab. The company informed the BSE about this retail expansion on March 02, 2026, in compliance with SEBI listing obligations.

Store Location and Details

The new exclusive brand store has been established at a strategic location within the popular shopping destination. The store details are as follows:

Regulatory Compliance

The company has fulfilled its disclosure obligations under SEBI regulations by informing the stock exchange about this business development. The intimation was made pursuant to Regulation 30 of SEBI (Listing Obligation and Disclosure Requirement) Rules, 2015, which requires listed companies to disclose material events and corporate developments.

Company Background

PNGS Gargi Fashion Jewellery Limited operates in the fashion jewellery segment and has undergone several name changes in recent years. The company was formerly known as:

• PNGS Gargi Fashion Jewellery Private Limited (from 21/09/2022 to 01/11/2022)
• P. N. Gadgil & Sons Gargi Costume Jewellery Private Limited (from 22/09/2021 to 20/09/2022)

The company's registered office is located at Plot No.8A, Sr No.37/1 and 37/2, Opposite Maruti Service Centre, Sinhgad Road, Wadgaon Khurd, Pune, Maharashtra, 411041. The company operates under CIN L36100PN2009PLC133691 and trades on BSE under scrip code 543709 with the symbol GARGI.

Strategic Expansion

This new store opening in Ludhiana represents the company's expansion into the Punjab market, targeting customers in one of the state's major commercial centers. Nexus MBD Neopolis Mall provides a premium retail environment that aligns with the company's brand positioning in the fashion jewellery segment.

The company secretary and compliance officer, Hiranyamai Deshpande (ICSI M. No. A48576), signed the regulatory filing, ensuring proper corporate governance procedures were followed for this business announcement.

Source: None/Company/INE0NT601018/f8760192-6988-403c-953e-6730725b772c.pdf

PNGS Gargi Fashion Jewellery Limited conducted an earnings call with investors and analysts on February 13, 2026, following the publication of its Q3FY26 financial results. The company filed the earnings call transcript under Regulation 30 of SEBI regulations on February 16, 2026, with the audio recording and transcript made available on the company's website.

Financial Performance Overview

The company demonstrated strong operational performance during the third quarter of FY26. Revenue from operations stood at ₹4,605.55 lakhs for the quarter ended December 31, 2025, representing a 27% growth compared to ₹3,624.38 lakhs in the corresponding quarter of the previous year. Total income, including other income of ₹166.69 lakhs, reached ₹4,772.24 lakhs for the quarter, with net profit of ₹1,059.87 lakhs showing 16.5% growth.

Management Commentary and Growth Strategy

During the earnings call, Director Aditya Modak highlighted that the company achieved a top-line of ₹46.18 crores with PAT of ₹10.65 crores in Q3. Management noted that after adjusting for one-time sales from the previous year's FOCO to FOFO transition, the actual growth was approximately 54% for the nine-month period. The company opened 16 new locations during the year, exceeding its initial target of 12 stores.

Expansion Plans and Market Position

For the upcoming year, management committed to opening not less than 20 stores, with potential expansion up to 25-30 locations. The company targets pan-India expansion excluding South India, focusing on North Indian markets where fashion jewellery has higher acceptance. Director Amit Modak emphasized the company's asset-light FOCO model, requiring ₹50-60 lakhs investment per store including diamond inventory, compared to ₹1-2 crores for competitors.

Financial Strength and Profitability

The company maintains industry-leading margins with 22.8% PAT margin and 31.3% EBITDA margin, significantly outperforming competitors. Management highlighted the company's zero-debt status with treasury reserves of approximately ₹70 crores, sufficient to fund 25 new stores without additional equity or debt financing. The cost of goods sold improved from 59.51% to 55.30% during the quarter, benefiting from indigenous manufacturing capabilities.

Product Portfolio and Market Dynamics

The company's product mix comprises 57% silver jewellery and 38% diamond jewellery for the nine-month period, with management expecting the diamond segment to reach 45% by H1 of next year. The Indian fashion jewellery market, valued at ₹10,000 crores currently, is projected to reach ₹30,000 crores by 2030, with organized retail comprising less than 10% of the market.

Marketing Investment and Brand Building

The company doubled its marketing spend to ₹6.75 crores for the nine-month period compared to ₹3.64 crores in the previous year. Promoters infused ₹10 crores equity at ₹970 per share specifically for pan-India marketing initiatives. The marketing strategy focuses on digital media, social media platforms, and influencer partnerships to build brand awareness outside Maharashtra.

Source: