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📋 Filing Types Available on ForgeUp Filings Sourced from BSE corporate announcements (equity segment). Companies covered are BSE-listed and most are also listed on NSE. We show only material filings.
Financial Results Orders Dividend Buyback Merger / Acquisition Board Meeting Outcome Fundraise (QIP / Rights / FPO) Regulatory / Court Order Credit Rating Change Promoter Pledge Update Management Change Joint Venture / MOU Delisting Bonus Shares Stock Split
Data sourced from BSE India corporate announcements. More categories will be added over time.
P N Gadgil Jewellers Ltd

PNG Jewellers Q4 FY26: Revenue ₹3,552 Cr, 124% YoY growth

RESULTS ▲ Positive Development MEDIUM RISK
📅 Filed on BSE: 08 Apr 2026, 11:22 AM IST  ·  BSE ID: e86c85a7-ef02-4b34-98ec-0c3edcac35e6
View Original BSE Filing (PDF)
💡
In Simple Terms
PNG Jewellers reported revenue of ₹3,552 Cr in Q4, more than doubling from last year, with strong sales across retail, franchise, and online channels.
🤖 AI Summary
  • Q4 FY26 consolidated revenue ₹3,552 Cr, 124% YoY; FY26 full-year ₹10,744 Cr, 40% YoY growth
  • Retail segment 102% YoY Q4 growth; Franchise Operations 132% YoY; E-commerce 67% YoY
  • Same-store sales growth 86% YoY Q4; gold volumes +27% YoY, silver +37%, diamond +125%
  • Store count 78 as of March 31, 2026 (57 COCO, 21 FOCO); added 8 COCO, 4 FOCO in quarter
  • FY27 guidance: ₹13,500 Cr revenue (25% YoY), 7.5% EBITDA margin; 25 new stores planned
🔢 Key Numbers — exact figures from BSE filing, not rounded
Q4 FY26 Consolidated Revenue
₹3,552 Cr
124%
FY26 Full-Year Revenue
₹10,744 Cr
40%
Q4 Retail Segment Growth
102% YoY
Q4 Franchise Operations Growth
132% YoY
Q4 E-Commerce Growth
67% YoY
Q4 Same-Store Sales Growth
86% YoY
Total Store Count (March 31, 2026)
78 stores (57 COCO, 21 FOCO)
FY27 Revenue Guidance
₹13,500 Cr
25%
FY27 EBITDA Margin Target
7.5%
Credit Rating Upgrade
IND A+ / Stable (from IND A)
🏢 How This Affects the Company
📈
Business Impact
Q4 FY26 total revenue of ₹3,552 Cr (124% YoY) driven by strong festive and wedding season demand. Same-store sales growth 86% YoY across existing 78 locations. Store expansion plan of 25 new stores in FY27 targets total count of 103 by year-end, strengthening market presence in Maharashtra and new markets in Uttar Pradesh (Gorakhpur, Varanasi).
💰
Financial Impact
FY26 full-year revenue ₹10,744 Cr, 40% YoY growth. FY27 guidance targets ₹13,500 Cr (25% YoY growth) with 7.5% EBITDA margin. Credit rating upgraded to IND A+/Stable from IND A, improving debt servicing credibility and borrowing terms.
⚙️
Operational Impact
Store expansion: 12 stores added in Q4 (8 COCO, 4 FOCO), bringing total to 78 (57 COCO Legacy/9 LiteStyle, 21 FOCO Legacy/4 LiteStyle). Geographic expansion into Uttar Pradesh markets. Product mix shift: studded jewellery ratio at 9%, driven by strong silver (+37% YoY) and diamond (+125% YoY) volume growth.
⚠️
Risk Impact
Results remain subject to statutory auditor approval. Detailed audited results pending Board approval. Festive-led revenue concentration in Q4 creates seasonal volatility; continued dependency on gold price movements affecting consumer volumes despite 27% YoY gold volume growth.
👥 What This Means For Shareholders
✅
Action Required
Await detailed audited Q4 FY26 results and Board approval; monitor FY27 progress against ₹13,500 Cr revenue guidance and 25-store expansion plan.
👤
Who Is Affected
All shareholders hold equity exposure to jewellery retail growth. FY26 ₹10,744 Cr revenue and FY27 25% growth guidance (₹13,500 Cr) directly reflect earnings trajectory and cash generation capacity.
🔍
Management Signal
Aggressive expansion (25 new stores planned), entry into new geographies (Uttar Pradesh), and positive credit rating upgrade indicate management confidence in sustained demand and operational scalability.

For information only. Not investment advice. ForgeUp is not SEBI-registered.

👁 Watch List — track these upcoming events
Audited Q4 FY26 and FY26 full-year results filing — verify EBITDA, PAT, and cash flow alignment with ₹10,744 Cr revenue.
FY27 Q1 store count and sales updates — track progress on 25-store expansion plan toward 103-store target by end of FY27.
FY27 revenue and EBITDA margin tracking — validate ₹13,500 Cr guidance achievement and 7.5% margin sustainability.
MEDIUM RISK Results pending auditor approval; seasonal festive dependency; gold price volatility; FY27 growth deceleration to 25% from FY26's 40% creates execution risk on guidance.
💡 Investor Takeaway
PNG Jewellers delivered Q4 FY26 revenue of ₹3,552 Cr (124% YoY) and full-year FY26 revenue of ₹10,744 Cr (40% YoY). Credit rating upgraded to IND A+/Stable. FY27 guidance: ₹13,500 Cr revenue (25% YoY growth) with 7.5% EBITDA margin. Results pending statutory auditor approval.
⚖️ Strengths & Concerns

✅ Positives

  • Q4 consolidated revenue ₹3,552 Cr shows 124% YoY growth with 86% same-store sales growth across existing 78-store base.
  • Credit rating upgraded to IND A+/Stable from IND A during quarter; strong 40% FY26 full-year revenue growth to ₹10,744 Cr.

⚠️ Concerns

  • Results subject to statutory auditor approval; detailed audited financials not yet available, limiting investor visibility on profitability and cash flow.
  • FY27 guidance of 25% revenue growth (₹13,500 Cr) represents deceleration from FY26's 40% growth, signaling normalization after exceptional FY26 performance.
📅 Company Track Record
Established 1832 with ~194 years of heritage. Listed on BSE (Scrip 544256). Operates 77 stores in India and 1 in USA as of March 31, 2026. Led by Chairman & MD Dr. Saurabh Gadgil (sixth-generation entrepreneur, 25+ years experience). Sub-brand LiteStyle by PNG targets lightweight jewellery segment. CIN: L36912PN2013PLC149288.

Based on publicly available historical data. For context only.

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⚠️ For Information Only — Not Investment Advice
ForgeUp Filings provides AI-generated summaries of public BSE exchange announcements (equity segment) for informational purposes only. Nothing here constitutes investment advice or a recommendation to buy, sell, or hold any security. ForgeUp is not a SEBI-registered investment advisor. All financial numbers are sourced directly from BSE filings and shown as-is. Past data is historical only. Please consult a qualified financial advisor before making investment decisions. Data sourced from BSE India public disclosures.
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