P N Gadgil Jewellers’ Performance Analyzed

Key Points

• 35.6% revenue growth year-over-year, reaching Rs 3,302 crore.
• Retail sales up 46% due to strong festive and wedding demand.
• E-commerce surged 138%, contributing significantly to overall revenue.
• Franchisee operations grew 12%, supporting overall expansion.
• Diwali sales hit Rs 606 crore, with record festive revenue.
• Store expansion planned, aiming for 7,880 total stores by year end.

Quarter 3 Results – Q3 FY26

P N Gadgil Jewellers had a really good quarter! They made a lot more money than they did last year. They earned Rs 3,302 crore, which is 35.60% more than the Rs 2,435 crore they made in the same period the year before.

The parts of the business that weren’t refineries did especially well, growing by 46.63%. A big chunk – 83.2% – of their sales came from stores selling jewelry directly to people. This growth was caused by lots of people buying jewelry for celebrations and weddings.

Other parts of their business, like selling jewelry online and through company-owned shops, also grew. The online shop grew by a huge 138%, and the shops run by other people (franchisees) grew by 12%.

They also made money selling gold, silver, and gems directly from their main office to businesses. This part of their business accounted for 4% of their total revenue.

The holiday season was super busy! They made Rs 190 crore during Dussehra (a big Indian holiday) and Rs 277 crore during Dhanteras (another important holiday). All of this adds up to Rs 606 crore for Diwali, a huge 74% jump from last year.

October 2025 was their best month ever, with revenue of Rs 1,807 crore – that’s 72% more than the year before. They also sold a lot more stud jewelry – 8.4% of the jewelry they sold were studs.

To help things grow, they opened three new stores during the quarter, bringing their total number of stores to 66. They plan to open even more stores in the next few months, with over 1214 new stores planned to open by the end of the year.

Looking Ahead

P N Gadgil Jewellers is planning to open a lot more stores to grow their business. They want to have 7,880 stores in total by the end of the year. They will be opening stores on their own and letting other people run them.

“Smart business decisions now are building a stronger future for jewelry.”