Q1 2027 P N Gadgil Jewellers Ltd Earnings Call Transcript
Key Points
- Record Q1 revenue of INR2,413 crores, up 41% YoY, driven by strong retail growth of 56% and 46% same-store sales growth.
- EBITDA grew 57% YoY to INR192.4 crores, with margin expanding 80 bps to 8%, reflecting operational efficiency.
- Profit after tax rose 52% YoY to INR105.3 crores, with PAT margin up 40 bps to 4.4%.
- Studded jewellery strategy gaining traction, with retail stud ratio improving to 10.9% and new stores in North/Central India achieving 15-18% studded ratios.
- Gold bars and coins business driving customer engagement, with 53% of purchases converting into jewellery, up from 46% last year.
- Franchise revenue growth was muted at 8% YoY, impacted by timing differences in stock replenishment and B2B sales recording.
- E-commerce revenue growth slowed to 20% due to a conscious shift away from bars and coins sales toward jewellery.
- Gross margin remained flat YoY despite mix improvement, partly due to hedging gains on a larger revenue base.
- Other expenses were kept artificially low in Q1 due to conservative spending, but are expected to rise in Q3 and Q4 with store expansion.
- Promoter shareholding remains above 75%, creating an overhang, though a QIP is planned at a suitable time.
Ladies and gentlemen, good day, and welcome to the P N Gadgil Jewellers Limited Q1 FY â27 Conference Call. (Operator Instructions). Please note that this conference is being. Recorded. I now hand the conference over to Mr. Aayush Adukia. Thank you, and over to you, sir
Thank you, Ananya. Good afternoon, everyone. On behalf of Nuwama, it is a pleasure to welcome you to P N Gadgil Jewellers Q1 FY â27 Earnings Conference Call. From the management, today we have Dr. Saurabh Gadgil, Chairman and MD, and Mr. Deepak Mehra, CFO. I would like to hand over the call to the management for their opening remarks. Over to you, Saurabh.
Thank you. Good afternoon, everyone, and a very warm welcome to the Q1 FY â27 Earnings Conference Call of P N Gadgil Jewellers Limited. I hope you have had an opportunity to review our financial results, investor presentation, and quarterly updates, which are
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