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P N Gadgil Jewellers Q2 Revenue Rises 22% As Retail Sales Surge
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CNBC TV18•08-10-2026, 20:28
P N Gadgil Jewellers Q2 Revenue Rises 22% As Retail Sales Surge
- •P N Gadgil Jewellers reported a 22.4% year-on-year growth in revenue for the second quarter of FY27.
- •Retail segment grew 31.1% year-on-year, driven by a same-store sales growth of 25.5%.
- •Gold revenue grew 23.5%, diamond revenue increased 21%, and silver revenue rose 12% during the quarter.
- •The company opened two new stores during the quarter, bringing the total store count to 80 as of September 30, 2026.
- •P N Gadgil Jewellers remains on track to open around 23 new stores during FY27, targeting 103 stores by year-end.
Key Questions Answered
In the second quarter of FY27, P N Gadgil Jewellers reported a 22.4% year-on-year growth in revenue. Additionally, the retail segment surged by 31.1% YoY, driven primarily by a same-store sales growth (SSSG) of 25.5%.
E-commerce revenue declined by 83.6% YoY during Q2 FY27. This drop was primarily caused by a strategic product mix recalibration, which involved deliberately reducing low-margin coin sales to focus on higher-margin jewellery products.
P N Gadgil Jewellers is on track to open approximately 23 new stores during FY27, which will bring its total store network to about 103 outlets by the end of the financial year. The expansion will rely heavily on a franchise-led strategy across both Legacy and YOOU stores.
