Companies›Consumer Discretionary›Consumer Durables›Consumer Durables

PNGS GARGI FASHION JEWELLERY L

Consumer Durables › Consumer Durables
₹533.00
at close · 23 Oct 2026
▼ 20.20 (-3.65%)

Latest filings

Next results: Wed, 28 Oct · Financial Results
  1. Board meet on Oct 28 to approve Q2 and H1 FY27 results · Results
  2. PNGS Gargi opens new exclusive brand store at Pacific Mall, New Delhi · Business Updates
  3. New exclusive brand store opened in Pune · Business Updates
All filings ↓
Ask Nexa about PNGS GARGI FASHION JEWELLERY L

Snapshot

What the business is, and whether it's a good one at a fair price.

AI · written from filings

Sells fashion jewellery — primarily sterling silver pieces (56% of FY26 revenue), 14KT diamond jewellery (34%) and 9KT gold items (3%) — through a network spanning 58 cities and 19 states. The retail mix comprises 38 Exclusive Brand Outlets (EBOs), 34 shop-in-shops inside parent chain P.N. Gadgil & Sons, and 54 shop-in-shops at third-party retailers such as Shoppers Stop. SIS channels together drove roughly 78% of FY26 revenue, with that share guided to fall toward ~65% by FY28 as newly opened EBOs mature. Expansion runs on a franchise-owned-company-operated (FOCO) model that is asset-light and entirely self-funded. FY26 revenue was ₹149.40 crore, with employee cost at 2.1% of revenue, other operating expenses at 14.2%, and depreciation at 1.1%. The business is debt-free, holds ₹78 crore in cash, and runs inventory at 3x turns.

Revenue mix · reported segments
Shop-in-Shop (PNGS + third-party)78.0%
Exclusive Brand Outlets (EBOs)22.0%
Operating scale
Total touchpoints
126FY26
New stores added
32 (including 18 in Q4)FY26
FOCO store investment
₹80 lakh to ₹1 crore
Breakeven
15-18 months outside Maharashtra
Inventory turnover
3x
Cash position
₹78 crore; zero debtFY26
Who pays it
Indian retail buyers of fashion jewellery, particularly millennials and Gen Z seeking lightweight everyday-wear pieces
Biggest cost
Raw materials (silver, gold, diamonds) are the principal input; other operating expenses are 14.2% of revenue
Kind of business
Asset-light, debt-free fashion jewellery retailer expanding via franchise-operated stores
Where it sits
Brand backed by 193-year-old P.N. Gadgil & Sons; operates in a fashion jewellery segment where organised retail share is below 10%
Market Cap
₹558 Cr
P / E (TTM)
11.8×
EV / EBITDA
8.3×
Div Yield
—
Growth
—·
Revenue 5y CAGR
PAT — · EBITDA —
Quality
27.5%▲
ROCE (FY26)
ROE 22.1% · margin 30.0%
Leverage
0.00·
Debt / Equity · low
Net cash ₹0.86 Cr
Revenue FY23→FY26
5.2×▲
Margin +4.6 pts
₹29 Cr → ₹149 Cr
Cash conversion
0.26×▼
Operating cash ÷ profit · 4 yrs
₹19 Cr on ₹73 Cr
Moves on a normal day
1.63%·
Median daily move
Last 268 sessions · the yardstick for filing-day moves
Where it sits among 53 Gems, Jewellery And Watches peersBar = share of peers beaten · tick = industry median · latest reported figures
P/E (TTM)#20/47
P/B#30/37
ROCE#8/50
ROE#6/37
Debt / Equity#1/37
EBITDA margin#7/35
Revenue growth#13/36
Profit growth#16/34

Scorecard

Measured from the filed financials, judged against its Gems, Jewellery And Watches peers · as of FY26 — not investment advice

Strengths
Returns on capital 27.5%
#8 of 50 in Gems, Jewellery And Watches on the latest reported figures · down from 30.9% in FY23
No borrowings on the balance sheet
lower than 75% of its 37 Gems, Jewellery And Watches peers
Concerns
Over 4 years it reported ₹73 Cr of profit and ₹19 Cr of operating cash — 0.26×
Less than 60p of every ₹1 of profit arrived as cash
Heavy working capital — 136 days of cash tied up
Customers are taking longer to pay — 0 → 33 days of receivables
FY23 → FY26

Charts

How has the market priced it — with filings on the timeline?

Price

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▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.

Peers

How does it stack up on valuation, returns and growth?

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Financials

Quarterly & annual P&L, balance sheet, cash flow, ratios and segments.

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Ownership

Who owns it — and is the promoter stake clean?

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Common questions

Answered from PNGS GARGI FASHION JEWELLERY L's filed financials and exchange disclosures

What does PNGS GARGI FASHION JEWELLERY L do?

PNGS GARGI FASHION JEWELLERY L is a Consumer Durables company listed on BSE.

Is PNGS GARGI FASHION JEWELLERY L profitable?

Yes. Over the trailing twelve months PNGS GARGI FASHION JEWELLERY L reported a net profit of ₹47 Cr on revenue of ₹223 Cr.

Does PNGS GARGI FASHION JEWELLERY L pay a dividend?

Not in the latest reported year — PNGS GARGI FASHION JEWELLERY L's dividend payout for FY26 was nil.

Is PNGS GARGI FASHION JEWELLERY L debt-free?

Yes. It reported no borrowings on its 31 Mar 2026 balance sheet, and ₹0.86 Cr of cash.

Is PNGS GARGI FASHION JEWELLERY L expensive compared with its peers?

On trailing P/E, PNGS GARGI FASHION JEWELLERY L ranks 20 of 47 in Gems, Jewellery And Watches — cheaper than 59% of them, against an industry median of 12.9×. This is a position, not a valuation judgement.

How much does the PNGS GARGI FASHION JEWELLERY L share price move in a day?

On a typical session PNGS GARGI FASHION JEWELLERY L moves 1.63% — that is the median absolute close-to-close move across its last 268 trading days. MarketPing measures each filing's price reaction against it.

When are PNGS GARGI FASHION JEWELLERY L's next results?

Financial Results on Wed, 28 Oct. MarketPing alerts you on WhatsApp the moment the filing lands.

Where can I track PNGS GARGI FASHION JEWELLERY L's announcements?

Every NSE and BSE filing by PNGS GARGI FASHION JEWELLERY L appears on this page, AI-summarised, alongside the price reaction that followed it. Follow the company to get each new filing on WhatsApp within minutes.

Figures are as last reported and may lag the latest filing. Not investment advice.