P N Gadgil Jewellers Limited has submitted to the Exchange, the financial results for the period ended March 31, 2026.
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P N Gadgil Jewellers reported strong full-year FY2026 results with consolidated revenue of Rs 1,08,271.79 million (up ~40% YoY from Rs 77,226.19 million in FY2025) and consolidated PAT of Rs 4,098.20 million (up ~88% YoY from Rs 2,182.68 million). Standalone PAT came in at Rs 4,010.37 million. EPS stood at Rs 29.55 per share on standalone basis. The company completed its IPO in September 2024 and fully deployed the Rs 8,500 million issue proceeds across store expansion, debt repayment, and corporate purposes. An exceptional item of Rs 33.92 million was recorded due to a one-time provision for employee benefits under India's new Labour Codes. The auditor issued an unmodified (clean) opinion. Inventories nearly doubled to Rs 36,123.82 million (standalone), and the company took on significant borrowings (current borrowings up from Rs 7,998 million to Rs 15,501 million) to fund this inventory buildup.
Strong revenue and profit growth is positive, but the sharp rise in inventory and negative operating cash flow of Rs 6,350 million raises working capital concerns. The leverage increase warrants monitoring.