P N Gadgil Jewellers (PNGJL) Q3 24/25 earnings summary

Executive summary

• Achieved consolidated revenue of INR 24,357.51 Mn in Q3 FY25, up 23.5% year-over-year, and INR 61,052.44 Mn for 9M FY25, up 32.7% year-over-year.

• PAT for Q3 FY25 rose 49.4% year-over-year to INR 860.38 Mn, with PAT margin improving by 60 bps to 3.5%.

• Opened nine new stores in nine days during Navratri, reaching 48 stores across 25 cities.

• Approved unaudited standalone and consolidated financial results for the quarter and nine months ended December 31, 2024.

• Completed IPO and listed shares on BSE and NSE on September 17, 2024.

Financial highlights

• EBITDA for Q3 FY25 increased 37.2% year-over-year to INR 1,297.70 Mn, with EBITDA margin at 5.3% (+50 bps).

• Gross profit margin improved to 9.8% in Q3 FY25 from 8.5% in Q3 FY24.

• EPS for Q3 FY25 was 6.34, up from 2.57 in Q2 FY25 and 11.52 for 9M FY25.

• Standalone revenue for Q3 FY25: ₹24,068.48 million; nine months: ₹60,563.04 million.

• Consolidated net profit for Q3 FY25: ₹860.38 million; nine months: ₹1,562.79 million.

Outlook and guidance

• Plans to launch remaining stores by Q4 FY25, targeting 12 new stores by FY26, with a focus on Maharashtra.

• Strategic focus on expanding in Tier II and III cities in western India and scaling nationally.

• Continued investment in digital channels and customer loyalty programs to drive growth.