P N Gadgil Jewellers Ltd
Established in 1832, P. N. G Jewellers Ltd is in the retail business of gold, silver,
and diamond jewellery[1]
- Market Cap ₹ 8,222 Cr.
- Current Price ₹ 559
- High / Low ₹ 736 / 503
- Stock P/E 17.2
- Book Value ₹ 195
- Dividend Yield 0.00 %
- ROCE 20.7 %
- ROE 22.8 %
- Face Value ₹ 10.0
Pros
- Company is expected to give good quarter
- Company has delivered good profit growth of 122% CAGR over last 5 years
Cons
- Though the company is reporting repeated profits, it is not paying out dividend
- Company might be capitalizing the interest cost
* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.
Quarterly Results
Standalone Figures in Rs. Crores / View Consolidated
Profit & Loss
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|
| 2,303 | 2,325 | 2,348 | 1,802 | 2,448 | 4,378 | 5,982 | 7,523 | 10,374 | 11,790 | |
| 2,218 | 2,252 | 2,246 | 1,742 | 2,351 | 4,254 | 5,713 | 7,182 | 9,770 | 11,038 | |
| Operating Profit | 85 | 72 | 102 | 59 | 97 | 124 | 268 | 341 | 604 | 752 |
| OPM % | 3.7% | 3.1% | 4.3% | 3.3% | 4.0% | 2.8% | 4.5% | 4.5% | 6% | 6% |
| 11 | 23 | 10 | 18 | 9 | 7 | 6 | 23 | 83 | 82 | |
| Interest | 42 | 39 | 35 | 33 | 32 | 32 | 44 | 42 | 90 | 126 |
| Depreciation | 20 | 18 | 23 | 24 | 19 | 19 | 21 | 33 | 55 | 68 |
| Profit before tax | 34 | 38 | 53 | 21 | 56 | 80 | 208 | 290 | 543 | 641 |
| Tax % | 36% | 35% | 43% | 64% | 28% | 31% | 26% | 26% | 26% | |
| 22 | 25 | 30 | 7 | 40 | 55 | 154 | 215 | 401 | 476 | |
| EPS in Rs | 3.95 | 4.51 | 5.47 | 1.36 | 7.25 | 10.02 | 13.07 | 15.83 | 29.55 | 34.37 |
| Dividend Payout % | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | 42% |
| 3 Years: | 33% |
| TTM: | 50% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | 122% |
| 3 Years: | 94% |
| TTM: | 62% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | % |
| 1 Year: | -14% |
| Return on Equity | |
|---|---|
| 10 Years: | % |
| 5 Years: | 22% |
| 3 Years: | 23% |
| Last Year: | 23% |
Balance Sheet
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | Sep 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 55 | 55 | 55 | 55 | 118 | 118 | 118 | 136 | 136 | 147 |
| Reserves | 96 | 121 | 179 | 187 | 227 | 282 | 434 | 1,433 | 1,836 | 2,723 |
| 409 | 374 | 341 | 294 | 270 | 262 | 426 | 903 | 1,705 | 2,107 | |
| 256 | 450 | 573 | 511 | 501 | 397 | 470 | 651 | 1,248 | 1,440 | |
| Total Liabilities | 816 | 1,000 | 1,149 | 1,047 | 1,116 | 1,059 | 1,448 | 3,122 | 4,925 | 6,418 |
| 129 | 115 | 153 | 173 | 143 | 139 | 199 | 280 | 371 | 388 | |
| CWIP | 3 | 3 | 18 | 14 | 38 | 38 | 4 | 4 | 0 | 5 |
| Investments | 47 | 66 | 57 | 57 | 57 | 46 | 46 | 54 | 53 | 94 |
| 636 | 815 | 921 | 803 | 878 | 836 | 1,199 | 2,785 | 4,501 | 5,931 | |
| Total Assets | 816 | 1,000 | 1,149 | 1,047 | 1,116 | 1,059 | 1,448 | 3,122 | 4,925 | 6,418 |
Cash Flows
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|
| 29 | 58 | 113 | 29 | 106 | -3 | -689 | -635 | ||
| -26 | -0 | -30 | -18 | -59 | -39 | -417 | -53 | ||
| -17 | -77 | -88 | -6 | -47 | 52 | 1,172 | 637 | ||
| Net Cash Flow | -13 | -19 | -5 | 5 | 1 | 10 | 66 | -51 | |
| Free Cash Flow | 4 | 43 | 79 | 29 | 106 | -24 | -735 | -700 | |
| CFO/EBITDA Share of operating profit converting into cash: CFO (before tax) / Operating Profit | 62% | 71% | 203% | 39% | 116% | 13% | -177% | -83% |
Ratios
Standalone / View Consolidated
| Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 13 | 7 | 5 | 7 | 6 | 5 | 3 | 3 | 2 |
| Inventory Days | 80 | 97 | 124 | 138 | 109 | 52 | 61 | ||
| Days Payable | 22 | 14 | 17 | 18 | 25 | 11 | 10 | ||
| Cash Conversion Cycle | 72 | 90 | 112 | 126 | 90 | 45 | 54 | 3 | 2 |
| Working Capital Days | 49 | 43 | 15 | 18 | 24 | 20 | 22 | 32 | 35 |
| ROCE % | 14% | 17% | 10% | 15% | 18% | 31% | 19% | 21% |
Insights
In beta| Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|
| Same-Store Sales Growth (SSSG) % |
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| Gold Volume Sold tonnes |
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| Number of Cities Number |
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| Studded Jewellery Mix (Stud Ratio) % |
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| Total Number of Stores Number |
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| Total Retail Area sq ft |
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| Non-Pune Market Revenue Share % |
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| Total SKUs Number |
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| Average Transaction Value (ATV) INR '000 |
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Extracted by Screener AI
Documents
Announcements
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Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Outcome
- Audio recording of Q2 FY27 results conference call shared on October 30, 2026.
- Announcement under Regulation 30 (LODR)-Newspaper Publication
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Announcement under Regulation 30 (LODR)-Investor Presentation
- Investor Presentation for the quarter ended September 30, 2026
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Announcement under Regulation 30 (LODR)-Monitoring Agency Report
- Monitoring agency report for QIP quarter ended September 30, 2026; no deviation from objects.
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Announcement under Regulation 30 (LODR)-Press Release / Media Release
- P N Gadgil Jewellers reported Q2 FY27 revenue of ₹26,663.8 million, PAT up 52.7%, and acquired Silvostyle.
Concalls
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Oct 2026PPT REC
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Aug 2026Transcript PPT REC
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May 2026Transcript PPT REC
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Feb 2026Transcript PPT REC
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Nov 2025Transcript PPT REC
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Aug 2025Transcript PPT REC
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May 2025Transcript PPT REC
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Feb 2025Transcript PPT REC
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Nov 2024Transcript
Business Overview:[1][2]
PNG Jewellers is one of the oldest Jewellers
in Maharashtra. It is a part of the PNG group which is an established player in the gold,
silver and diamond jewellery business, with
a significant presence in Pune, Mumbai and
other parts of Maharashtra.
Company provides new jewellery trends
in Maharashtra and has introduced Temple Motifs, Contemporary Jewellery designs, Light Weight, Daily Wear and Designer Collections, etc.