PNG Jewellers Q4 revenue triples to ₹3,544 cr, but EBITDA margin contracts 217 bps
P N Gadgil Jewellers posted 123% YoY revenue growth and 46% PAT growth in Q4, with SSSG of 86% and store count rising to 78 across new geographies including MP, UP and Bihar. However, EBITDA margin compressed sharply to 4.7%, signalling pressure from gold price volatility and aggressive expansion costs.
What happened
P.N. Gadgil Jewellers · PNG Jewellers Q4 revenue jumped 123% to ₹3,544 cr and PAT rose 46% to ₹90 cr, but EBITDA margin contracted 217 bps. Store count reached
Key facts
- Q4 revenue ₹3,544.3 cr (+123.2% YoY)
- Q4 net profit ₹90.3 cr (+45.6%)
- EBITDA margin 4.7% (-217 bps)
- SSSG 86% YoY
- ATV ₹100.2k
- footfall +10%
- FY26 revenue ₹10,739.1 cr (+39.6%)
- FY26 PAT ₹410 cr (+88%)
- 78 stores
- e-commerce ₹151 cr (+67.3%)
- franchise ₹429 cr (+132%)
Why this matters
PNG's aggressive footprint push into MP, UP and Bihar reshapes the regional jewellery competitive map and signals a window for partnership, supply-chain, or consolidation conversations with sub-scale northern players.