P N Gadgil Jewellers Ltd (NSE:PNGJL)

Q4 2026 P N Gadgil Jewellers Ltd Earnings Call Transcript

May 15, 2026 / 10:00 AM GMT

Release Date Price: ₹573.9 (-10.00%)

Transcript

Key Points

Positve

P N Gadgil Jewellers Ltd (BOM:544256) achieved a significant milestone by surpassing 10,000 crores in revenue for FY26, marking a 40% year-over-year growth.
The company expanded its store network significantly, adding 25 new stores during the year, bringing the total to 78 stores across 36 cities.
The e-commerce segment showed robust growth, increasing by 105% year-over-year, reflecting strong digital adoption.
The retail segment remained the primary growth driver with a 51% year-on-year revenue increase, supported by a healthy same-store sales growth of 43%.
The company maintained a strong financial position with an improved ROCE of 30.5% and ROE of 21% for the year.

Negative

The gross margin for Q4 FY26 decreased by 2.3% year-over-year due to a higher share of gold bars and coins in the sales mix, which operate on thin margins.
There was a 1% decline in the studded jewelry mix due to promotional activities, impacting overall margins.
The franchisee sales proportion increased, but these sales have lower gross margins, contributing to a dip in overall margins.
The company faced margin volatility due to lower hedging proportions, although efforts are being made to increase hedging to 75-80% in FY27.
The increase in gold prices and import duties may impact the demand for gold bars and coins, which constituted a significant portion of sales in Q4 FY26.

Refinitiv StreetEvents Event Transcript
E D I T E D V E R S I O N

PNGD.NS - P N Gadgil Jewellers Ltd
Q4 2026 P N Gadgil Jewellers Ltd Earnings Call
May 15, 2026 / 10:00AM GMT

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Presentation
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Unidentified_1 [1]
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Ladies and gentlemen, good day and welcome to the PN Guard Guild Journalist Limited Q4 FY26 Earnings Conference Call.

As a reminder, all participant lines will be in the listen-only mode, and there will be an opportunity for you to ask questions after the presentation concludes. Should you need assistance during the conference call, please signal an operator by pressing then 0 on your touch-tone phone.

Please note that this conference has been recorded.

I now hand the conference over to Mr. Ayush Adutkia from Noama Wealth Management Limited.

Thank you, Anur, to you, sir.

Thank you, Julius.

Good afternoon, everyone. On behalf of Noama, it's a pleasure to welcome you to

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