P N Gadgil Jewellers Ltd

Q4 FY25Consumer Durables

P N Gadgil Jewellers Q4 FY25 earnings call: Revenue & Margins

Q4 FY25 earnings call: what management guided on revenue, margins and order book.

Price₹603

Market cap₹9.7K Cr

P/E21.6

Updated23 Aug 2026

Read4 min read

The short version

FY '26 topline growth expected around 25%-30%, with 8%-11% volume growth targeted. FY '26 topline growth guidance: 25%-30% with 8%-11% volume growth expected.

From P N Gadgil Jewellers Ltd's Q4 FY25 earnings-call transcript · updated 23 Aug 2026.

Revenue & Sales Performance

FY '26 topline growth expected around 25%-30%, with 8%-11% volume growth targeted.
Retail segment driving growth, now constituting ~70-75% of total sales, with plans to increase further to 75%-80%.
Expansion planned with 20-25 new stores in FY '26, about 50% franchisee and 50% company-owned; geography includes Maharashtra and neighboring states like UP and Bihar.
New lightweight "LiteStyle" format stores to cater to Gen Z and impulse buying, aiding revenue growth.
Positive volume growth continuing in single digits during April-May despite high gold prices; value growth expected over 20%.

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Profitability & Margins

FY '26 topline growth guidance: 25%-30% with 8%-11% volume growth expected.
Retail revenue expected to increase to 75%-80% of total revenue in FY '26, supported by store expansion.
Plans to launch 20-25 new stores in FY '26, about 50% franchisee and 50% Company owned, including expansion outside Maharashtra (UP, Bihar).
Expect improvement in EBITDA and PAT margins in FY '26 driven by mature new stores and higher studded jewelry sales.
Target EBITDA margin for retail portion around 7%-8%; PAT margin for retail around 4%; company-level PAT projected between 2.75%-3.25%.
Expansion costs and growth in franchisee and e-com segments may temper overall margin gains at consolidated level.

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Capital Expenditure Plans

In FY '26, the company plans to add 20-25 new stores, split between 12-13 full-fledged PNG stores and 12-13 LiteStyle stores (smaller, lightweight jewelry focused).
LiteStyle stores involve a lower CAPEX of around Rs. 8-9 crores and will target Gen Z and design-oriented customers.
Expansion will focus on Maharashtra (including West Maharashtra regions) and new geographies like Uttar Pradesh, Bihar, and Goa, with a target of 10 stores outside Maharashtra.
Majority of store expansion will be funded through internal accruals; some expansion via franchisee route.
Breakeven for new PNG stores is expected in 15-18 months, and 12-15 months for LiteStyle stores.

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Top-ranked in Consumer Durables

Ranked on what management guided this quarter

Guidance-ranked

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4₹2.4K Cr

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5₹2.2K Cr

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Rank buckets describe management commentary on revenue and margin. Not investment advice, and not a forecast of returns.

Fundraising & Capital Structure

There is no immediate plan for equity dilution; the agenda for dilution is only for board approval and discussion.
The company has a timeline up to September 2027 to consider any equity dilution.
Future dilution, if done, will be at the right time and right valuation.
The expansion plans for FY '26 involving opening 20-25 new stores will primarily be funded through internal accruals and profits.
There has been a previous consideration of Qualified Institutional Placement (QIP) but it has been deferred for at least one more quarter.

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Order Book & Pipeline

The provided transcript from P N Gadgil Jewellers Limited's Q4 FY '25 earnings call does not explicitly mention details about the current or expected order book or pending orders. However, related insights include: - Approximately 30%-40% of revenue comes from make-to-order business, contributing to inventory turnover dynamics. - New stores and existing store expansions indicate strong consumer demand and product mix acceptance. - Significant growth in studded jewelry and lightweight jewelry suggests active customer engagement and potential order flow.

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P N Gadgil Jewellers Ltd — Quarterly revenue & net profit

Revenue Net profit

Dec 2024Q3 FY25

Mar 2025Q4 FY25

Jun 2025Q1 FY26

Sep 2025Q2 FY26

Dec 2025Q3 FY26

Mar 2026Q4 FY26

Reported quarterly figures (₹ Cr). Latest (Q4 FY26): revenue ₹3.5K Cr, net profit ₹90 Cr. Revenue and profit are scaled separately — hover a quarter for exact figures.

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Frequently Asked Questions

What were P N Gadgil Jewellers Ltd Q4 FY25 results?

FY '26 topline growth expected around 25%-30%, with 8%-11% volume growth targeted. FY '26 topline growth guidance: 25%-30% with 8%-11% volume growth expected.

What is P N Gadgil Jewellers Ltd share price analysis?

P N Gadgil Jewellers Ltd currently shows a neutral. The stock trades at a P/E of 21.6 with a market cap of ₹9,697 Cr. Investors should review the full earnings analysis for detailed insights.

Is P N Gadgil Jewellers Ltd planning capital expenditure?

In FY '26, the company plans to add 20-25 new stores, split between 12-13 full-fledged PNG stores and 12-13 LiteStyle stores (smaller, lightweight jewelry focused). - LiteStyle stores involve a lower CAPEX of around Rs.

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This analysis is AI-generated based on publicly available earnings data and the company's earnings call transcript. This is not investment advice. Please consult a SEBI-registered advisor before making investment decisions.

Revenue & Sales Performance

Profitability & Margins

Capital Expenditure Plans

Top-ranked in Consumer Durables

Fundraising & Capital Structure

Order Book & Pipeline

P N Gadgil Jewellers Ltd — Quarterly revenue & net profit

Continue your research

What P N Gadgil Jewellers Ltd's management said in earlier quarters

Others in Consumer Durables this season

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Frequently Asked Questions

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