Transcript of Earnings Call held on Friday, February 13, 2026 is attached herewith.
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Awaiting price reaction for this filing.
PNGS Gargi Fashion Jewellery reported Q3 FY26 revenue of INR 46.18 crores (+27% YoY) and PAT of INR 10.65 crores (+16.5% YoY). For the first nine months, revenue reached INR 119 crores; adjusted growth (excluding a one-time INR 25.74 crore sale in the prior year) is around 54%. The company opened 16 new locations this year versus a guidance of at least 12, taking the total to 121 points of sale across India. Management guided to 'not less than 35%' revenue growth over the next three to four years, PAT margin of 20–22%, and 20–30 new stores next year (pan-India except South). The company is zero-debt with INR 70 crore in treasury, funded entirely by internal accruals and a INR 10 crore promoter infusion at INR 970/share earmarked for marketing spend (which nearly doubled YoY to INR 6.75 crores in 9M FY26). Main board listing is targeted by September 2026, and group company PNGS Reva Diamond Jewellery's IPO opens February 24 with tentative listing March 4.
Positive — strong profitable growth, zero-debt balance sheet with ample treasury to fund expansion, sustained industry-leading margins, and clear multi-year growth roadmap including main board migration. Shareholders benefit from visible expansion, disciplined unit economics, and improved brand visibility through stepped-up marketing.