PN Gadgil Jewellers Ltd. reported a 14% year-on-year surge in festive season sales, reaching ₹689 crore. The growth was driven by strong demand across all product categories, particularly in newer markets in Northern and Central India. Studded jewellery contributed 17.2% to sales, while the overall retail studded jewellery ratio stood at 12.6%. Despite volatility in gold prices, the company saw robust performance across its segments.
The gold segment led the growth with a 13% increase in revenue, while the silver category saw a notable 24% rise. The diamond segment also performed well, with an 8% increase in sales compared to the previous festive period. Saurabh Gadgil, Chairman and Managing Director of PN Gadgil Jewellers, attributed the success to festive offers, an enhanced in-store shopping experience, and continuous customer engagement.
Looking ahead, Gadgil expressed optimism about the company's growth prospects as it approaches the wedding season. He highlighted encouraging consumer sentiment and the company's strategic initiatives as key factors to sustain momentum. As of 11:30 am today, shares of PN Gadgil Jewellers Ltd. were trading 0.80% lower at ₹626.70, despite a 4% gain so far this year.