Indias leading jewellery retailer PN Gadgil Jewellers Ltd posted 99% increase in its consolidated net profit at ₹171 crore for the December quarter over the corresponding period last year.
Revenue from operations grew from ₹2,436 crore to ₹3,303 crore, despite gold price volatility. Retail segment accounted for 83% of total sales.
The management attributed the strong performance to favourable product mix, festive and wedding-led demand, increase in customer footfall with a strong conversion rate, rise in customer engagement, and higher contribution from studded jewellery, along with disciplined cost management.
“Demand remained broad-based across core markets, led by gold jewellery, new designs and an increasing preference for lightweight and studded jewellery, supported by strong brand recall and customer trust.
“Retail continued to be the primary growth driver, complemented by strong growth in e-commerce and steady performance in the franchise segment,” said Chairman and Managing Director Saurabh Gadgil, a sixth-generation entrepreneur with over 25 years of experience.
According to him, the company continued to execute its expansion strategy with the addition of three new company-owned stores this quarter at Pimpri-Chinchwad, Patna and Viman Nagar under the LiteStyle format, taking the company’s total retail footprint to 66 stores as of December 2025, of which one in the US.
Going ahead, management remains focused on driving same-store sales growth, maintaining healthy inventory turns, and sustaining profitable growth, supported by continued upcoming festive & wedding led demand, he said.
The 193-year-old company offers a wide range of gold, silver, diamond and platinum jewellery for weddings, festivals, and daily wear. The portfolio also includes a dedicated sub-brand, LiteStyle by PNG, which caters to the growing demand for stylish and lightweight jewellery.