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

Executive summary

• Achieved record Q1 FY27 revenue, driven by strong festive, wedding, and retail demand despite high gold prices, with consolidated revenue reaching ₹24,129.81 million and PAT at ₹1,053.35 million.

• Store network expanded to 78 locations across 36 cities, with a 17% YoY increase in store count and robust e-commerce growth of 20% YoY.

• Unaudited standalone and consolidated financial results for Q1 FY27 were approved by the Board on July 27, 2026.

• Focused on strengthening the store network, preparing for significant expansion, and targeting Gen Z with new LiteStyle format.

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

Financial highlights

• Q1 FY27 consolidated revenue was ₹24,129.81 million, up from ₹17,145.62 million YoY; standalone revenue was ₹23,805.71 million.

• EBITDA increased 57% YoY to ₹1,924.1 million, with margin at 8%.

• PAT grew 52% YoY to ₹1,053.35 million, PAT margin at 4.4%.

• Basic EPS was ₹7.76, up from ₹5.11 YoY.

• Gross profit margin remained stable at 13.2% YoY.

Outlook and guidance

• Targeting 25 new store openings in FY27, aiming for 103 stores by year-end, with expansion focused on franchisee-led growth in Maharashtra, Uttar Pradesh, Bihar, Central India, and NCR.

• EBITDA margin guidance for the full year is around 7%, with PAT margin expected between 4.1% and 4.25% for the year, targeting 4.5%-4.7% by FY29.

• Plan to be fully hedged on gold by next financial year.

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

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