PNG Jewellers Q1 net profit soars 52% YoY to ₹105 crore, retail grows 56%; shares jumps 8%

The company’s consolidated net profit soared 52% year-on-year (YoY) to ₹105 crore during the quarter under review, compared to ₹69.34 crore in the first quarter of the 2025-26 fiscal year (Q1 FY26), according to a regulatory filing.

Its revenue from operations increased 40.73% YoY to ₹2,412.98 crore in Q1 FY26, as against ₹1,714.56 crore in the corresponding period of the preceding fiscal year.

At an operational level, its EBITDA (earnings before interest, tax, depreciation and amortisation), also known as operating profit, stood at ₹192.41 crore for the reporting quarter, reflecting a 56.6% YoY jump from ₹122.85 crore in the June FY26 quarter.

The company’s EBITDA margin expanded by 80 basis points (bps) YoY to 8% in Q1 FY27, in comparison to 7.2% in the year-ago period.

Segment-wise snapshot

The e-commerce segment surged 20% YoY to ₹79.3 crore in the quarter ended June 30, 2026, in contrast to ₹66.13 crore in the same period last year.

However, its other segments, which consist of corporate orders, declined 9.2% YoY to ₹157.9 crore, as against ₹173.81 crore in Q1 of the previous fiscal year.

Other key highlights

• The company delivered a robust Same-Store Sales Growth (SSSG) of 46.1%YoY, driven by healthy customer footfalls and higher transaction volumes.

• The retail stud ratio improved to 10.9% from 9.9% in the previous quarter. Notably, the recently launched stores across Northern and Central India are delivering a significantly higher stud ratio in the range of 15% to 18%.

• During the quarter, the diamond category continued to witness exceptional momentum, delivering 29% growth in value and 26% growth in volume.

• The gold category recorded a robust 54% growth in value, while volumes remained broadly stable with only a 1% YoY moderation, reflecting healthy demand despite elevated gold prices.

• The silver category registered a 131% growth in value, even as volumes softened slightly by 7% YoY.

• As of June 30, 2026, the company operated 78 stores, including 77 in India and one in the US.

• PNG Jewellers has planned a few store launches in Q2 FY27, with the majority of the year's expansion scheduled across Q3 and Q4 FY27, in line with its phased rollout plan.

What the Chairman said

Commenting on the performance, Dr. Saurabh Gadgil, Chairman & Managing Director, P N Gadgil Jewellers Limited, said: "We are delighted to commence FY27 on a strong note, delivering our highest-ever first quarter with revenue of ₹24,130 million, representing 41% year-on-year growth, while EBITDA increased by 57% & Profit After Tax increased by 52%.”

He further stated that the performance reflects the strength of the PNG brand, healthy consumer demand across categories and the company’s continued focus on “disciplined execution, operational excellence and customer-centric innovation”.

“Beyond the strong financial performance, we continue to strengthen the quality of our business. Our retail business continues to gain share, while increasing traction in studded jewellery and encouraging customer response to LiteStyle by PNG are supporting a richer product mix,” Gadgil said.

The jewellers recently launched stores across Northern and Central India, demonstrating a meaningfully higher stud ratio, reinforcing its confidence in these markets and validating its expansion strategy, he added.

“Additionally, its Gold Bars & Coins business continues to strengthen long-term customer engagement, with an increasing proportion of GBC purchases being converted into jewellery,” he stated.

Looking ahead, Gadgil said that the firm’s focus will remain on disciplined expansion, with a healthy store rollout pipeline for the remainder of the year, particularly across high-potential markets in North India.

“We also remain committed to further strengthening our risk management framework by progressively increasing hedge coverage, enhancing earnings stability as we scale. Backed by our 194-year legacy, trusted brand and execution capabilities, we remain confident of sustaining profitable growth and creating long-term value for all our stakeholders,” Gadgil stated.

During the trading session, the shares of the jewellery maker surged as much as 8.18% to an intraday high of ₹700 per unit on the National Stock Exchange (NSE) on Monday, following the results announcement.

The scrip eventually closed 6.50% higher at ₹689.05 per equity share.

P N Gadgil Jewellers has a total market capitalisation of ₹9,296.02 crore as of July 27, 2026, according to data on the NSE.