P N Gadgil Jewellers (PNGJL) Q1 26/27 earnings summary

Executive summary

• Achieved record Q1 FY27 revenue of ₹24,129.8 million, up 40.7% YoY, with PAT up 51.9% to ₹1,053.35 million, driven by robust wedding and festive demand and strong performance across gold, diamond, and silver segments.

• Store network expanded to 78 locations across 36 cities, with a 17% YoY increase in store count and continued focus on network strengthening and expansion.

• E-commerce revenue rose 20% YoY in Q1 FY27, reaching ₹793.5 million, with a strategic shift to jewelry for better margins.

• Unaudited standalone and consolidated financial results for the quarter ended June 30, 2026, were approved by the Board on July 27, 2026.

• Both standalone and consolidated results reflect continued profitability and revenue growth year-over-year.

Financial highlights

• Consolidated revenue from operations for Q1 FY27 was ₹24,129.81 million, up from ₹17,145.62 million in Q1 FY26; standalone revenue was ₹23,805.71 million.

• EBITDA for Q1 FY27 increased 56.6% YoY to ₹1,924.1 million, with EBITDA margin improving by 80 bps to 8.0%.

• PAT for Q1 FY27 was ₹1,053.35 million, up 51.9% YoY, with PAT margin at 4.4%.

• Gross profit margin remained stable at 13.2% YoY.

• Basic EPS at ₹7.76 vs ₹5.11 YoY (consolidated); standalone EPS at ₹7.58 vs ₹5.02 YoY.

Outlook and guidance

• Targeting 25 new stores in FY 2027, aiming for 103 stores by year-end, with major expansion in Q3 and Q4, focusing on franchise-led growth in Maharashtra, UP, Bihar, Central India, and NCR.

• Management remains optimistic about sustaining growth momentum, driven by ongoing wedding season, new market expansion, and compelling product designs.

• EBITDA margin guidance for the full year at 7%.

• PAT margin targeted at 4.1%-4.25% for FY 2027, aiming for 4.5%-4.7% by FY 2029.

• Continued focus on expanding into Tier 2/3/4 cities and strengthening digital and franchise-led growth.