P N Gadgil Jewellers Limited · NSE:PNGJL
P N Gadgil Jewellers — Q3 FY26 Earnings Presentation
58 slides from P N Gadgil Jewellers's earnings presentation, Feb 9, 2026
Slide 1: Exchange filing letter for investor presentation
Date: February 09, 2026 To, To, BSE Limited, National Stock Exchange of India Limited, Phiroze Jeejeebhoy Towers, Exchange Plaza, C-1, Block-G, BKC, Dalal Street, Mumbai – 400001 Bandra (East), Mumbai – 400051 Scrip Code: 544256 Symbol: PNGJL Subject: Investor Presentation Dear Sir/Madam, Pursuant t
Slide 2: Investor Presentation - February 2026
P N Gadgil Jewellers Limited Investor Presentation - February 2026
Slide 3: Safe Harbour
Safe Harbour This presentation and the accompanying slides (the “Presentation”), which have been prepared by P N Gadgil Jewellers Limited (the “Company”), have been prepared solely for information purposes and do not constitute any offer, recommendation or invitation to purchase or subscribe for any
Slide 4: From CMD's Desk
From CMD’s Desk The quarter witnessed strong momentum, supported by healthy Festive and wedding-led demand. Revenue from operations increased 35.6% YoY to ₹33,026 Mn in Q3 FY26, despite gold price volatility. Demand remained broad-based across core markets, led by gold jewellery, new designs and an
Slide 5: Table of Contents
Table of Contents 01 02 03 04 05 Company Investment Strategic Q3FY26 Financial Overview Highlights Overview Highlights Overview 4 Investor Presentation – Q3FY26
Slide 6: From 1832 to Today: The Evolution of PNG Jewellers
From 1832 to Today: The Evolution of PNG Jewellers Resilience Shown in Era of Expansion & Rich Legacy Acceleration Phase Covid Phase Recognition 1832 2008-2019 2020-2022 2023-Present ➢ 1832: Shri Ganesh Narayan Gadgil ➢ 2008: Launched the first ➢ 2020: "MOTHERINDIA", best ad- ➢ 2023: Appointed Madhu
Slide 7: P N Gadgil Jewellers: Brand Overview
P N Gadgil Jewellers: Brand Overview Known for embracing consumer One of India’s oldest and most friendly practices like hallmarking and trusted jewellery brands quality standards Caters to diverse occasions, from Family-run business with a weddings to daily wear and legacy of over six generations i
Slide 8: P N Gadgil Jewellers at a Glance
P N Gadgil Jewellers at a Glance ~193 6th 3,42,800 INR Years of Presence Generations Business Average Revenue per Sq Ft for 9M FY26 66 33 1,090.1 Mn 8.4% Average Revenue per Stud Ratio No. of Stores Cities Presence in World Store for 9M FY26 For 9M FY26 2,09,883 sq ft 103.1 K 33% Average Transaction
Slide 9: Table of Contents
Table of Contents 01 02 03 04 05 Company Investment Strategic Q3FY26 Financial Overview Highlights Overview Highlights Overview 8 Investor Presentation – Q3FY26
Slide 10: Brief Overview
Brief Overview P N Gadgil Jewellers is the second largest among the prominent 01 organized jewellery players in Maharashtra, in terms of number of stores Fastest growing jewellery brand amongst the key organized 02 jewellery players in India One-Stop-Shop with wide range of jewellery products includ
Slide 11: Golden Growth: Unlocking the Potential of India's Jewellery Market
Golden Growth: Unlocking the Potential of India's Jewellery Market • Jewellery market contributes 7% to India’s GDP and 15.7% to Share of Organized Jewellery in Retail Market is Rising 2nd 850 Tn India’s total merchandise exports Organised Unorganised Largest gold market in Average gold consumption
Slide 12: Emerging Opportunities and Consumer Preferences in India's Premium Jewellery Market
Emerging Opportunities and Consumer Preferences in India's Premium Jewellery Market Opportunities for growth in India's luxury jewellery sector Factors Driving Preferences For Jewellery Purchases India: A Global Luxury Rising HNI Concentration Post-Pandemic Luxury Bright Spot Fuels Demand Recovery •
Slide 13: Understanding Gold Retail: Insights and Trends
Understanding Gold Retail: Insights and Trends Seasonal and regional factors to drive demand Unique Advantages of Gold Retailing Breakup of gold consumption by jewellery, bars and coins in India (by value) Gold jewellery holds aspirational value in India Marriage Seasons: 34% 38% Gold, whether sold
Slide 14: Shifting Consumer Trends: A Turning Point for the Indian Jewellery Market
Shifting Consumer Trends: A Turning Point for the Indian Jewellery Market Young consumers prefer lightweight jewellery with trendy 01 designs Shift towards “consumption of jewellery” rather than pure 02 “investment” Frequency of purchase by consumers have gone up due to rising 03 disposable income I
Slide 15: Our Focus on Maharashtra - A land of limitless opportunities
Our Focus on Maharashtra - A land of limitless opportunities Maharashtra Is The Preferred Retail Jewellery Market In India Maharashtra leads India in Mumbai has the highest total retail spending, number of BIS-registered gold accounting for around 15% or jewellery stores in India at USD140b in FY23
Slide 16: Maximizing Brand Presence through Strategic Store Placement
Maximizing Brand Presence through Strategic Store Placement Maharashtra Nagpur (Itwari) Akola Jalgaon Nagpur (Abhyankar Nagar) Nashik Nashik - Chatrapati Sambhaji Nagar Indore Sharanpur Road Virar Borivali Shrirampur Beed Bypass Rd (CSN) Chandrapur Vile Parle Goregaon COCO Stores Thane Kalyan Dombiv
Slide 17: Strategically Selected Store Locations
Strategically Selected Store Locations Company Stores Sr No Location City Open Area (sq. ft) Sr No Location City Open Area (sq. ft) 1 Laxmi Road (Gold) Pune Feb-58 4,536 14 Nanded Nanded Feb-15 1,940 2 Laxmi Road (Silver) Pune Feb-58 1,825 15 Chandrapur Chandrapur Apr-15 4,138 3 Paud Road Pune Oct-0
Slide 18: Strategically Selected Store Locations
Strategically Selected Store Locations Company Stores Sr No Location City Open Area (sq. ft) Sr No Location City Open Area (sq. ft) 27 Akola Akola Jun-24 3,059 40 Chinchwad Pune Mar-25 4,294 28 Ghodbunder Road Thane Jun-24 3,500 41 L R Diamond Pune Mar-25 2,662 29 CSN - Beed Bypass Aurangabad Oct-24
Slide 19: Strategically Selected Store Locations
Strategically Selected Store Locations Franchise Stores Area (sq. Area (sq. Sr No Location City Open Sr No Location City Open ft) ft) ▪ Laxmi Road is the flagship store of PNG Jewellers Pimpri- Pimpri- ▪ Franchise business model was 1 Pimple Saudagar Oct-18 2,660 9 Chakan Nov-22 1,251 Chinchwad Chin
Slide 20: A Glimpse of Our Current Stores
A Glimpse of Our Current Stores 19 Investor Presentation – Q3FY26
Slide 21: We Dominate Gold Jewellery Segment in our Catchment Markets
We Dominate Gold Jewellery Segment in our Catchment Markets with Growing Momentum in Studded Jewellery Gold Products Diamond Products Silver & Platinum Products Earrings Rings Pendant Earrings Rings Necklace Silver Article Lotus Diya Rakhi Necklace Bracelet Mangalsutra Pendant Mangalsutra Bracelet D
Slide 22: Gold Jewellery Collections Targeting Different Occasions
Gold Jewellery Collections Targeting Different Occasions The Golden Katha of Collections Saptam Swarajya Rings of Love Flip Craftsmanship Retail Stores & Retail Stores & Retail Stores & Retail Stores & Retail Stores & Distributions E-Commerce E-Commerce E-Commerce E-Commerce E-Commerce Collection We
Slide 23: Gold, Diamond & Platinum Jewellery Collections Targeting Different Occasions
Gold, Diamond & Platinum Jewellery Collections Targeting Different Occasions Collections Pratha Yoddha Mangalsutra Antique Eiina PNG Solitaire Retail Stores & Retail Stores & Retail Stores & Retail Stores & Retail Stores & Distributions E-Commerce E-Commerce E-Commerce E-Commerce E-Commerce Collecti
Slide 24: Gold, Diamond & Platinum Jewellery Collections Targeting Different Occasions
Gold, Diamond & Platinum Jewellery Collections Targeting Different Occasions Collections Colors By PNG Fura Polmi Men of Platinum Evergreen Love Retail Stores & Retail Stores & Retail Stores & Retail Stores & Retail Stores & Distributions E-Commerce E-Commerce E-Commerce E-Commerce E-Commerce Collec
Slide 25: Our Brand Ambassadors: Icons of Elegance and Tradition
Our Brand Ambassadors: Icons of Elegance and Tradition Brand Ambassadors Madhuri Dixit Ranbir Kapoor Sara Tendulkar 24 Investor Presentation – Q3FY26
Slide 26: "Customer First" Approach: Offering Top Value-Added Schemes
“Customer First” Approach: Offering Top Value-Added Schemes Future Purchase Plan (FPP) Dajikaka Promise Plan (DPP) Golden Gain Plan (GGP) Suvarna Laxmi Labh Plan (SLLP) Our Future Purchase Plan is The Dajikaka Promise Plan is a The Golden Gain Plan helps The Suvarna Laxmi Labh Plan designed for cust
Slide 27: Streamlined operations with Standardized processes allow us scale new stores
Streamlined operations with Standardized processes allow us scale new stores with quick “time-to-market” Inventory Design Procurement Quality Control Management A constantly evolving design library, Store-Level Procurement Hallmark, finish, polish & PNG Implemented ERP to track end-to- strengthened
Slide 28: Trusted Brand in Maharashtra, on a Path to Pan-India Expansion
Trusted Brand in Maharashtra, on a Path to Pan-India Expansion Innovative Designs for Individual Legacy & Heritage Requirements ➢ Strong brand recall and presence in Maharashtra ➢ Regular interactions with team for designes ➢ Leveraged the knowledge and deployed at the Karigars’ understanding of cus
Slide 29: Personalization, digital tools & design innovation
Trusted Brand in Maharashtra, on a Path to Pan-India Expansion 1 2 3 Pan India Scaling to Accelerating Digital Expanding our Create a National Expansion & Elevating LiteStyle Segment brand Customer Engagement Personalization, digital tools & design innovation Building on our Trusted Brand & Rich Leg
Slide 30: Effective Marketing Strategy with Proven Strong ROI
Effective Marketing Strategy with Proven Strong ROI Advertisement Strategy Branding Strategy Digital Marketing Strategy Location Based Targeting Brand Ambassadors Social Media Presence ➢ Established ‘Parampara Exhibition’ to ➢ Our brand ambassadors, Madhuri Dixit and ➢ Driving customer interest by s
Slide 31: Experienced Board of Directors
Experienced Board of Directors Dr. Saurabh Gadgil Mr. Parag Gadgil Mrs. Radhika S Gadgil Chairman & Managing Director Whole Time Director Whole Time Director • Dr. Saurabh Gadgil is the Chairman & Managing Director • Mr. Parag Gadgil has been on the Board of our Company • Mrs. Radhika Gadgil has bee
Slide 32: Our Passionate and Experienced Management Team
Our Passionate and Experienced Management Team Mr. Deepak Vijay Mr. Prakhar Gupta Chief Financial Officer Company Secretary & Compliance Officer (Appointed w.e.f. 24 January 2026) • He is an accomplished finance leader with over 18 years of • He is an Associate Member of the Institute of the Company
Slide 33: Our E-commerce Footprint: Present Marketplaces and Future Frontiers
Our E-commerce Footprint: Present Marketplaces and Future Frontiers pngjewellers.com Tata Cliq Amazon Ajio Flipkart Myntra Future Target Channels Click here to explore our website: www.pngjewellers.com 32 Investor Presentation – Q3FY26
Slide 34: Regular Coverage by Top Media Houses in the Country
Regular Coverage by Top Media Houses in the Country Exclusive jewellery brand to bag Great Saptam collection in Loksatta Place to Work award twice Advertisement on Hotstar Advertisement on ZEE 5 33 Investor Presentation – Q3FY26
Slide 35: Regular Coverage by Top Media Houses in the Country
Regular Coverage by Top Media Houses in the Country 34 Investor Presentation – Q3FY26
Slide 36: Recognized with Awards for Retail Growth and Jewellery Excellence
Recognized with Awards for Retail Growth and Jewellery Excellence Key Awards H1 FY26 Rising Star - Chain Store GJC NITE – Preferred Retailers GJC NITE – Preferred Retailers Seasons of Love - 2025 of India - 2025 of India - 2025 Our unwavering commitment to innovation, sustainability, and branding pr
Slide 37: Our ESG Initiatives
Our ESG Initiatives ▪ Firefighting training improves Responsible Operations & Store-Level staff safety, emergency Initiatives response readiness, and operational resilience ✓ Solar Energy Adoption: Started implementation ▪ Feminine hygiene bins of solar rooftop panels across select locations to Peop
Slide 38: Table of Contents
Table of Contents 01 02 03 04 05 Company Investment Strategic Q3FY26 Financial Overview Highlights Overview Highlights Overview 37 Investor Presentation – Q3FY26
Slide 39: Expanding Horizons with LiteStyle by PNG: Jewellery for the Go-Getters
Expanding Horizons with LiteStyle by PNG: Jewellery for the Go-Getters LiteStyle by PNG Jewellers is created for the modern, ambitious & dynamic generation that's always on the move. Whether conquering boardrooms or networking at social events, this generation needs jewellery that complements their
Slide 40: LiteStyle by PNG – Where Elegance Meets Everyday
LiteStyle by PNG – Where Elegance Meets Everyday EXPAND PAN INDIA PRESENCE BECOME A HOUSEHOLD NAME 1 5 Strengthen offline footprint through Position LiteStyle as the go-to choice exclusive LiteStyle stores, while for modern generations, specifically enhancing digital outreach to capture a working pr
Slide 41: LiteStyle by PNG – Where Elegance Meets Everyday
LiteStyle by PNG – Where Elegance Meets Everyday LiteStyle is a contemporary sub-brand of P N Gadgil Jewellers offering lightweight gold and diamond jewellery tailored for modern, style-conscious professionals, particularly in the 25–35 age group. It combines effortless elegance with everyday practi
Slide 42: Table of Contents
Table of Contents 01 02 03 04 05 Company Investment Strategic Q3FY26 Financial Overview Highlights Overview Highlights Overview 41 Investor Presentation – Q3FY26
Slide 43: Financial Performance in Q3 & 9M FY26
Financial Performance in Q3 & 9M FY26 Y-o-Y Y-o-Y Change Q3 FY26 9M FY26 Change Revenue Revenue 35.6% 17.8% INR 33,026.1 Mn INR 71,947.9 Mn EBITDA EBITDA 109.4% 105.3% INR 2,717.1Mn INR 5,376.9 Mn +290 EBITDA Margins EBITDA Margins +320 bps 8.2% 7.5% bps PAT PAT 98.6% 104.5% INR 1,709.1 Mn INR 3,195
Slide 44: Performance Highlights Across Key Metrics – Q3 & 9M FY26
Performance Highlights Across Key Metrics – Q3 & 9M FY26 For Q3 FY26, Revenue excluding the other segment delivered a Y-o-Y Store Count (Y-o-Y) Store Count (Q-o-Q) growth of 45.6% +18 +3 Particulars (INR Mn) Q3 FY26 Q3 FY25 Y-o-Y Revenue Excl. Others 31,693.9 21,766.1 45.6% 16 16 16 Others 1,332.2 2
Slide 45: Performance Highlights Across Key Metrics – Q3 FY26
Performance Highlights Across Key Metrics – Q3 FY26 Revenue (INR Mn) Gross Profit (INR Mn) EBITDA (INR Mn) PAT (INR Mn) 35.6% 98.2% 109.4% 98.6% 4,739.5 2,717.1 1,709.1 33,026.1 24,357.5 2,390.9 1,297.7 860.4 Q3FY25 Q3FY26 Q3FY25 Q3FY26 Q3FY25 Q3FY26 Q3FY25 Q3FY26 Segmental Performance Retail (INR M
Slide 46: Performance Highlights Across Key Metrics – 9M FY26
Performance Highlights Across Key Metrics – 9M FY26 Revenue (INR Mn) Gross Profit (INR Mn) EBITDA (INR Mn) PAT (INR Mn) 17.8% 86.8% 105.3% 104.5% 5,376.9 71,947.9 9,579.3 3,195.6 61,052.4 5,127.4 2,619.1 1,562.8 9MFY25 9MFY26 9MFY25 9MFY26 9MFY25 9MFY26 9MFY25 9MFY26 Segmental Performance Retail (IN
Slide 47: Consolidated Income Statement
Consolidated Income Statement Particulars (INR Mn) Q3 FY26 Q3 FY25 Y-o-Y Q2 FY26 Q-o-Q 9M FY26 9M FY25 Y-o-Y Revenue from Operations 33,026.1 24,357.5 35.6% 21,776.2 51.7% 71,947.9 61,052.4 17.8% Other Income 274.1 72.2 201.8 569.4 198.3 Total Income 33,300.2 24,429.7 36.3% 21,978.0 51.5% 72,517.3 6
Slide 48: Standalone Income Statement
Standalone Income Statement Particulars (INR Mn) Q3 FY26 Q3 FY25 Y-o-Y Q2 FY26 Q-o-Q 9M FY26 9M FY25 Y-o-Y Revenue from Operations 32,533.4 24,068.5 35.2% 21,543.6 51.0% 71,101.2 60,563.0 17.4% Other Income 273.1 79.5 201.1 567.2 146.5 Total Income 32,806.5 24,148.0 35.9% 21,744.7 50.9% 71,668.4 60,
Slide 49: Q3 FY26: Growing our Store Network with 3 New Stores, Launched 1st Store in Bihar
Q3 FY26: Growing our Store Network with 3 New Stores, Launched 1st Store in Bihar 48 Investor Presentation – Q3FY26
Slide 50: Table of Contents
Table of Contents 01 02 03 04 05 Company Investment Strategic Q3FY26 Financial Overview Highlights Overview Highlights Overview 49 Investor Presentation – Q3FY26
Slide 51: Financial & Operational Snapshot
Financial & Operational Snapshot Consistent growth in revenues with operational efficiencies leading to increase in EBITDA and PAT Revenue (INR Mn) EBITDA (INR Mn) and EBITDA Margin (%) PAT (INR Mn) and PAT Margin (%) 76,934.7 71,947.9 5,376.9 3,195.6 61,120.2 3,714 2,182.7 45,072.6 2,785.0 7.5% 1,5
Slide 52: Consolidated Income Statement
Consolidated Income Statement Particulars (INR Mn) FY24 FY25 9M FY26 Revenue from Operations 61,120.2 76,934.7 71,947.9 Other Income 71.9 291.5 569.4 Total Income 61,192.1 77,226.2 72,517.3 Total Raw Material 55,972.1 69,829.1 62,368.6 Gross Profit 5,148.1 7,105.6 9,579.3 Gross Profit Margin (%) 8.4
Slide 53: Standalone Income Statement
Standalone Income Statement Particulars (INR Mn) FY24 FY25 9M FY26 Revenue from Operations 60,320.0 76,305.5 71,101.2 Other Income 57.0 238.8 567.2 Total Income 60,377.0 76,544.3 71,668.4 Total Raw Material 55,335.6 69,372.9 61,731.0 Gross Profit 4,984.4 6,932.6 9,370.1 Gross Profit Margin (%) 8.3%
Slide 54: Consolidated Balance Sheet
Consolidated Balance Sheet Assets (INR Mn) Mar-24 Mar-25 Sep-25 Equity & Liabilities (INR Mn) Mar-24 Mar-25 Sep-25 Non-current assets Shareholders Funds Property, plant and equipment 1,502.0 1,871.0 2,018.2 (a) Equity share capital 1,180.0 1,357.1 1,357.1 Capital work‐in‐progress 35.2 35.2 35.2 (b)
Slide 55: Standalone Balance Sheet
Standalone Balance Sheet ASSETS (INR Mn) Mar-24 Mar-25 Sep-25 EQUITY AND LIABILITIES ( (INR Mn) Mar-24 Mar-25 Sep-25 Non-current assets Shareholders Funds Property, plant and equipment 1,457.2 1,812.6 1,963.4 (a) Equity share capital 1,180.0 1,357.1 1,357.1 Capital work‐in‐progress 35.2 35.2 35.2 (b
Slide 56: Consolidated Cashflow Statement
Consolidated Cashflow Statement Particulars (INR Mn) Mar-24 Mar-25 Sep-25 Cash Flow from Operating Activities Profit before Tax 2,094.4 2,931.1 2,018.8 Adjustment for Non-Operating Items 855.2 676.3 420.7 Operating Profit before Working Capital Changes 2,949.6 3,607.3 2,439.5 Changes in Working Capi
Slide 57: Standalone Cashflow Statement
Standalone Cashflow Statement Particulars (INR Mn) Mar-24 Mar-25 Sep-25 Cash Flow from Operating Activities Profit before Tax 2,084.3 2,895.3 2,009.6 Adjustment for Non-Operating Items 649.1 576.5 421.4 Operating Profit before Working Capital Changes 2,733.4 3,471.7 2,431.0 Changes in Working Capita
Slide 58: Thank You
Company : Thank P N Gadgil Jewellers Limited CIN: L36912PN2013PLC149288 Email ID: secretarial@pngadgil.com Tel: +91 020 4478474 Website: www.pngjewellers.com Y U Investor Relations Partner : X-B4 Advisory LLP Rasika Sawant / Gautam Kothari Tel: +91 95944 57518 / +91 79776 16640 Email ID: rasika@x-b4