PNGJLNSEP N Gadgil Jewellers LimitedMediumNeutral
Announced Fri, 22 May · 19:01 IST

P N Gadgil Jewellers Limited has informed the Exchange about Transcript

Mgmt Guided Margin ImprovementInvestor Communications View source PDF

PNGJL · price

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₹537.50
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AI summary

P N Gadgil Jewellers crossed INR 10,000 crores revenue milestone for the first time in FY26, reporting full-year consolidated revenue of INR 10,739 crores (40% YoY growth). Q4 FY26 revenue was INR 3,544 crores, up 123% YoY. Gross margin moderated to 9.7% in Q4 due to higher gold bars and coins contribution (40% of sales vs 28% prior year), lower studded mix, and promotional discounts totaling INR 50+ crores. Full-year gross margin expanded to 12% (up 280 bps), with EBITDA margin at 6.6% and PAT margin at 3.8%. The company added 12 new stores in Q4, taking total store count to 78 across 36 cities, with expansion into UP (Gorakhpur, Banaras). Gold hedging was increased from 55% to 67%. Management maintained full-year margin guidance of 12-13% gross, 7-7.5% EBITDA, and 4% PAT. FY27 guidance set at INR 13,500 crores revenue, with 25 new stores planned (5-7 COCO, balance FOCO), targeting entry into Gujarat, Gurgaon, and Lucknow.

Likely market impact

The stock is approaching the INR 10,000 cr revenue milestone with strong same-store growth of 86% in Q4. However, the margin dilution from higher investment-driven gold bar sales is a near-term concern, though management expects margins to recover as gold investment demand normalizes and product mix improves with the import duty hike.