The company achieved consolidated revenue of ₹33,026 million for the quarter ended December 2025 as EBITDA margins expanded to 8.2%. Nine-month net profit grew 104.5% year-on-year, supported by strong retail segment performance and physical store expansion.
P N Gadgil Jewellers Limited (NSE: PNGJL) reported a significant increase in profitability for the third quarter of fiscal year 2026, with profit after tax rising to ₹1,709.1 million from ₹860.4 million in the prior-year period. The results were driven by a 33.0% same-store sales growth rate and robust consumer activity during the festive season.
Festive Sales Boost Period Revenue Results
The company’s unaudited financial results for the period ended December 31, 2025, highlight a substantial scale-up in operations, with revenue from operations for the first nine months reaching ₹71,947.9 million. Growth was supported by record-breaking single-day sales during Dussehra of ₹1,900 million and Diwali season sales totaling ₹6,060 million.
Retail Segment Drives Major Revenue Gains
Consolidated revenue for Q3 FY26 rose 35.6% year-on-year to ₹33,026.1 million. Earnings before interest, taxes, depreciation, and amortization (EBITDA) increased 109.4% to ₹2,717.1 million, representing a margin of 8.2%, up from 5.3% a year earlier. For the nine-month period, EBITDA climbed 105.3% to ₹5,376.9 million. The retail segment remains the primary revenue contributor, representing 83.2% of total sales and achieving a 46.2% revenue increase over the nine-month period. Average revenue per store for the first nine months stood at approximately ₹1,090.1 million.
Strategic Focus on LiteStyle Sub-Brand Growth
Management continues to execute a retail expansion strategy, adding three company-owned stores in Moshi, Patna, and Viman Nagar during the quarter. This brings the total retail footprint to 66 stores across India and the United States. Strategic priorities include driving same-store sales growth and maintaining efficient inventory turns. The company is also focusing on its LiteStyle sub-brand to capture rising demand in the lightweight jewellery category.
Diamond Demand Boosts Jewelry Transaction Values
The performance occurred despite volatility in global gold prices during the quarter. Demand within the Indian jewellery sector remained broad-based, specifically across gold and studded categories. P N Gadgil reported a 33% increase in customer footfall and a 94% conversion rate at the store level. The company also noted a 35% increase in transaction counts, bringing the average transaction value to ₹103,100. This trend reflects a shifting consumer preference toward branded retail and high-margin products like diamonds, which saw a 50% volume increase year-on-year.