P N Gadgil Jewellers (PNGJL) Q4 24/25 earnings summary

Executive summary

• Achieved consolidated revenue of INR 76,934.68 Mn for FY25, up 25.9% year-over-year, with Q4 FY25 revenue at INR 15,882.24 Mn, up 5.0% from Q4 FY24.

• EBITDA for FY25 rose 33.2% to INR 3,709.54 Mn, with margins improving to 4.8%; Q4 EBITDA margin at 6.9%.

• PAT for FY25 increased 40.7% to INR 2,182.68 Mn, with PAT margin at 2.8%.

• Audited standalone and consolidated financial results for FY25 were approved, with auditors issuing an unmodified opinion.

• Expanded retail footprint to 53 stores across 27 cities, including 5 new large-format stores in Q4 FY25.

Financial highlights

• Consolidated revenue for FY25 was INR 76,934.68 Mn, up from INR 61,120.22 Mn in FY24.

• Standalone net profit for FY25 was INR 2,148.78 Mn, compared to INR 1,541.87 Mn in FY24.

• Earnings per share (EPS) for FY25 stood at INR 16.83 (standalone) and INR 17.10 (consolidated), both up year-over-year.

• Inventory turnover ratio at 5.2x for FY25.

• ROCE at 14.0% and ROE at 20.2% for FY25, reflecting capital efficiency despite temporary dilution post-IPO.

Outlook and guidance

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

• Continued investment in digital channels and e-commerce, with unified CRM and analytics.

• IPO proceeds are being utilized for new store expansion, debt repayment, and general corporate purposes, with most funds already deployed.