PNG Jewellers sees strong festive demand, sales grow 14% to ₹689 crore

Detailed summary

The gold segment was the primary growth driver, with revenue increasing 13% year-on-year. The silver category also reported strong traction, registering growth of 24%, while the diamond segment recorded an 8% increase in sales compared with the corresponding festive period last year.

PN Gadgil Jewellers Ltd. informed the exchanges that its festive season sales during Diwali increased 14% year-on-year to ₹689 crore, led by healthy demand across product categories.

The company said its newer markets in Northern and Central India witnessed encouraging traction during the festive period. Studded jewellery accounted for 17.2% of sales, while the overall retail studded jewellery ratio stood at 12.6%.

The gold segment was the primary growth driver, with revenue increasing 13% year-on-year. The silver category also reported strong traction, registering growth of 24%, while the diamond segment recorded an 8% increase in sales compared with the corresponding festive period last year.

Commenting on the performance, Saurabh Gadgil, Chairman and Managing Director of PN Gadgil Jewellers, said the company benefited from festive offers, an enhanced in-store shopping experience and continued customer engagement. He added that the company delivered growth across product categories despite volatility in gold prices.

Looking ahead, Gadgil expressed confidence in the growth outlook as the company enters the upcoming wedding season. He said encouraging consumer sentiment and the company's initiatives position it well to sustain the positive momentum in the coming months.

Shares of PN Gadgil Jewellers Ltd. were trading 0.80% lower at ₹626.70. The stock has gained around 4% so far this year.

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