According to a regulatory filing by P N Gadgil Jewellers, the jewellery maker posted a 46% year-on-year increase in its revenue excluding other segments to ₹3,169 crore during Q3FY26, compared to ₹2,176 crore in Q3FY25. The company's total consolidated revenue including other segments stood at ₹3,302 crore for the third quarter of FY26, marking a 35.61% annual jump from ₹2,435 crore in the corresponding quarter of the previous fiscal year.
As reported by the company, retail operations accounted for 83.2% of total revenue and delivered 46% growth over the same quarter last year, reflecting sustained consumer demand for gold and studded jewellery during the peak festive season. The studded jewellery contribution for 9M FY26 increased by 52% YoY, taking the stud ratio to 8.4%, while same-store sales growth for the quarter stood at a healthy 32%, indicating strong demand across mature outlets.
According to the filing, the company witnessed broad-based growth across non-retail channels. The e-commerce segment clocked a 138% annual growth during the December quarter, contributing 5.1% to total revenue. The PNG Jewellers franchisee operations segment recorded a 12% YoY increase and accounted for 7.7% of the total revenue. However, the other segment, largely comprising B2B bullion sales, contributed around 4% of quarterly revenue, declining from the previous year.
As reported by PNG Jewellers, festive-led buying remained a key catalyst for growth during the quarter. The company achieved its highest-ever monthly revenue in October 2025 at ₹1,807 crore, reflecting a 72% annual surge. The Dussehra sales soared 64% YoY to ₹190 crore, while the company registered the highest-ever single-day festive sale during Dhanteras with revenue at ₹277 crore. Consequently, total Diwali sales aggregated to ₹606 crore, registering a robust 74% YoY growth.
According to the regulatory filing, PNG Jewellers added three exclusive company-owned outlets during the reporting quarter, bringing the total store count to 66 as of December 31, 2025, including 65 stores in India and one store in the United States. The company plans to continue accelerating its store rollout with 12-14 new openings planned for Q4FY26, comprising a mix of company-owned and franchisee-operated outlets to achieve their target of 78-80 stores by the end of FY26. As of 11:16 am IST on January 8, 2026, shares of P N Gadgil Jewellers were trading firm at ₹646.90, up ₹7.05 or 1.10% from its previous close of ₹639.85, with an intraday range of ₹635.00 to ₹654.00.
