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 ₹ 8,157 Cr.
- Current Price ₹ 600
- High / Low ₹ 848 / 474
- Stock P/E 32.9
- Book Value ₹ 116
- Dividend Yield 0.00 %
- ROCE 19.2 %
- ROE 20.3 %
- Face Value ₹ 10.0
Pros
- Company has delivered good profit growth of 42.8% 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 | TTM | |
---|---|---|---|---|---|---|---|---|---|
2,303 | 2,325 | 2,348 | 1,802 | 2,448 | 4,378 | 5,982 | 7,523 | 7,685 | |
2,218 | 2,252 | 2,246 | 1,742 | 2,351 | 4,254 | 5,713 | 7,188 | 7,306 | |
Operating Profit | 85 | 72 | 102 | 59 | 97 | 124 | 268 | 335 | 379 |
OPM % | 4% | 3% | 4% | 3% | 4% | 3% | 4% | 4% | 5% |
11 | 23 | 10 | 18 | 9 | 7 | 6 | 29 | 41 | |
Interest | 42 | 39 | 35 | 33 | 32 | 32 | 44 | 42 | 48 |
Depreciation | 20 | 18 | 23 | 24 | 19 | 19 | 21 | 33 | 38 |
Profit before tax | 34 | 38 | 53 | 21 | 56 | 80 | 208 | 290 | 334 |
Tax % | 36% | 35% | 43% | 64% | 28% | 31% | 26% | 26% | |
22 | 25 | 30 | 7 | 40 | 55 | 154 | 215 | 248 | |
EPS in Rs | 3.95 | 4.51 | 5.47 | 1.36 | 7.25 | 10.02 | 13.07 | 15.83 | 18.29 |
Dividend Payout % | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
Compounded Sales Growth | |
---|---|
10 Years: | % |
5 Years: | 26% |
3 Years: | 45% |
TTM: | 19% |
Compounded Profit Growth | |
---|---|
10 Years: | % |
5 Years: | 43% |
3 Years: | 75% |
TTM: | 48% |
Stock Price CAGR | |
---|---|
10 Years: | % |
5 Years: | % |
3 Years: | % |
1 Year: | % |
Return on Equity | |
---|---|
10 Years: | % |
5 Years: | 19% |
3 Years: | 22% |
Last Year: | 20% |
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 | |
---|---|---|---|---|---|---|---|---|
Equity Capital | 55 | 55 | 55 | 55 | 118 | 118 | 118 | 136 |
Reserves | 96 | 121 | 179 | 187 | 227 | 282 | 434 | 1,433 |
409 | 374 | 341 | 294 | 270 | 262 | 426 | 903 | |
256 | 450 | 573 | 511 | 501 | 397 | 470 | 651 | |
Total Liabilities | 816 | 1,000 | 1,149 | 1,047 | 1,116 | 1,059 | 1,448 | 3,122 |
129 | 115 | 153 | 173 | 143 | 139 | 199 | 280 | |
CWIP | 3 | 3 | 18 | 14 | 38 | 38 | 4 | 4 |
Investments | 47 | 66 | 57 | 57 | 57 | 46 | 46 | 54 |
636 | 815 | 921 | 803 | 878 | 836 | 1,199 | 2,785 | |
Total Assets | 816 | 1,000 | 1,149 | 1,047 | 1,116 | 1,059 | 1,448 | 3,122 |
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 | |
---|---|---|---|---|---|---|---|---|
29 | 58 | 113 | 29 | 106 | -3 | -689 | ||
-26 | -0 | -30 | -18 | -59 | -39 | -417 | ||
-17 | -77 | -88 | -6 | -47 | 52 | 1,172 | ||
Net Cash Flow | -13 | -19 | -5 | 5 | 1 | 10 | 66 |
Ratios
Standalone Figures in Rs. Crores / View Consolidated
Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
---|---|---|---|---|---|---|---|---|
Debtor Days | 13 | 7 | 5 | 7 | 6 | 5 | 3 | 3 |
Inventory Days | 80 | 97 | 124 | 138 | 109 | 52 | 61 | 104 |
Days Payable | 22 | 14 | 17 | 18 | 25 | 11 | 10 | 13 |
Cash Conversion Cycle | 72 | 90 | 112 | 126 | 90 | 45 | 54 | 94 |
Working Capital Days | 49 | 43 | 15 | 18 | 24 | 20 | 22 | 32 |
ROCE % | 14% | 17% | 10% | 15% | 18% | 31% | 19% |
Documents
Announcements
-
Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation
8 Sep - PN Gadgil schedules New York one-on-one meetings with Van Eck, Raas, Isometry, Ruanne Cunniff, Capital World on Sep 11-12, 2025.
- Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation 5 Sep
-
Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation
4 Sep - One-to-one meetings with William Blair and Driehaus in Chicago on Sept 9, 2025; no price-sensitive disclosures.
-
Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation
23 Aug - P N Gadgil to attend Motilal Oswal Global Investor Conference on September 3, 2025; no price-sensitive disclosures.
-
Intimation Of Store Opening
23 Aug - New store opened Aug 23, 2025 in Indore; total stores now 58.
Annual reports
Concalls
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Aug 2025TranscriptPPTREC
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Aug 2025TranscriptNotesPPT REC
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May 2025Transcript PPT REC
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Feb 2025Transcript PPT REC
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Nov 2024TranscriptPPT
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 have introduced Temple Motifs, Contemporary Jewellery designs, Light Weight, Daily Wear and Designer Collections, etc. Currently, it is present in 3 States, 23 Cities with 50 Showrooms