HomeMarket NewsPN Gadgil Jewellers Q4 profit jumps 46% as revenue doubles; margin narrows
PN Gadgil Jewellers reported a sharp rise in fourth-quarter earnings as revenue more than doubled on strong demand, though margins narrowed amid higher gold prices and changing product mix.
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P N Gadgil Jewellers reported a strong set of fourth-quarter earnings on May 14, driven by robust festive demand, expanding customer reach and continued momentum across physical and digital channels.
The company posted a consolidated net profit of ₹90.2 crore for the March quarter, up 45.7% from ₹61.9 crore in the corresponding period last year. Revenue surged to ₹3,544.3 crore from ₹1,588.2 crore a year ago, more than doubling on a year-on-year basis.
The company said revenue excluding the other segment registered over 100% year-on-year growth during the quarter. EBITDA rose 43.7% to ₹135.1 crore from ₹94 crore in the year-ago period. However, EBITDA margin narrowed to 3.8% from 5.9%, reflecting higher gold prices and shifts in product mix.
Ahead of the earnings announcement, shares of P N Gadgil Jewellers closed 1.4% higher at ₹640.90 on the NSE.
The jewellery retailer highlighted strong traction in its digital business, with e-commerce revenue for FY26 rising 105.2% year-on-year to ₹529 crore. The company said its growing presence across leading digital platforms and its own website helped drive customer acquisition and expand its reach into newer geographies and customer segments.
PN Gadgil also pointed to operational improvements across fulfilment, inventory readiness and customer service as key contributors to growth.
The company’s performance comes amid continued expansion in India’s organised jewellery market. Industry estimates suggest the jewellery sector contributes nearly 7% to India’s GDP and accounts for 15.7% of the country’s merchandise exports. India remains the world’s second-largest gold market, with the organised jewellery industry projected to reach a market size of nearly $260 billion by FY30.
