P N Gadgil Jewellers Ltd — earnings calls

P N Gadgil Jewellers reported Q1 FY27 revenue of Rs 2,413 crore, up 41% year-over-year, with EBITDA growing 57% to Rs 192.4 crore and profit after tax growing 52% to Rs 105.3 crore. Retail revenue grew 56% on 46% same-store-sales growth, while franchise grew 8% and e-commerce grew 20%. Management said it ended the quarter with 78 stores and plans to add around 25 stores during FY2027, taking the network to approximately 103 stores by year end.

P N Gadgil Jewellers reported full year FY26 consolidated revenue of INR10,739 crores, up 40% year-over-year, crossing the INR10,000 crore milestone, while Q4 FY26 revenue grew 123% year-over-year to INR3,544 crores. Management attributed a Q4 gross margin decline of 230 basis points to a higher mix of gold bars and coins, a lower studded jewellery ratio, and one-time festival discounting, while reiterating full year gross margin, EBITDA margin and PAT margin guidance. The company also disclosed a rise in gold hedging to 67% at quarter end, a credit rating upgrade to A+ stable, and raised FY27 revenue guidance to INR13,500 crores.