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 ₹ 9,048 Cr.
- Current Price ₹ 666
- High / Low ₹ 736 / 503
- Stock P/E 20.6
- Book Value ₹ 145
- 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 | 10,641 | 11,319 | |
| 2,218 | 2,252 | 2,246 | 1,742 | 2,351 | 4,254 | 5,713 | 7,188 | 10,038 | 10,664 | |
| Operating Profit | 85 | 72 | 102 | 59 | 97 | 124 | 268 | 335 | 603 | 655 |
| 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 | 29 | 85 | 101 | |
| Interest | 42 | 39 | 35 | 33 | 32 | 32 | 44 | 42 | 90 | 105 |
| Depreciation | 20 | 18 | 23 | 24 | 19 | 19 | 21 | 33 | 55 | 62 |
| Profit before tax | 34 | 38 | 53 | 21 | 56 | 80 | 208 | 290 | 543 | 589 |
| Tax % | 36% | 35% | 43% | 64% | 28% | 31% | 26% | 26% | 26% | |
| 22 | 25 | 30 | 7 | 40 | 55 | 154 | 215 | 401 | 436 | |
| EPS in Rs | 3.95 | 4.51 | 5.47 | 1.36 | 7.25 | 10.02 | 13.07 | 15.83 | 29.55 | 32.11 |
| Dividend Payout % | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | 43% |
| 3 Years: | 34% |
| TTM: | 47% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | 122% |
| 3 Years: | 94% |
| TTM: | 77% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | % |
| 1 Year: | 13% |
| 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 | |
|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 55 | 55 | 55 | 55 | 118 | 118 | 118 | 136 | 136 |
| Reserves | 96 | 121 | 179 | 187 | 227 | 282 | 434 | 1,433 | 1,836 |
| 409 | 374 | 341 | 294 | 270 | 262 | 426 | 903 | 1,705 | |
| 256 | 450 | 573 | 511 | 501 | 397 | 470 | 651 | 1,248 | |
| Total Liabilities | 816 | 1,000 | 1,149 | 1,047 | 1,116 | 1,059 | 1,448 | 3,122 | 4,925 |
| 129 | 115 | 153 | 173 | 143 | 139 | 199 | 280 | 371 | |
| CWIP | 3 | 3 | 18 | 14 | 38 | 38 | 4 | 4 | 0 |
| Investments | 47 | 66 | 57 | 57 | 57 | 46 | 46 | 54 | 53 |
| 636 | 815 | 921 | 803 | 878 | 836 | 1,199 | 2,785 | 4,501 | |
| Total Assets | 816 | 1,000 | 1,149 | 1,047 | 1,116 | 1,059 | 1,448 | 3,122 | 4,925 |
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/OP | 62% | 71% | 203% | 39% | 116% | 13% | -181% | -83% |
Ratios
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 | |
|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 13 | 7 | 5 | 7 | 6 | 5 | 3 | 3 | 2 |
| Inventory Days | 80 | 97 | 124 | 138 | 109 | 52 | 61 | 104 | 141 |
| Days Payable | 22 | 14 | 17 | 18 | 25 | 11 | 10 | 13 | 22 |
| Cash Conversion Cycle | 72 | 90 | 112 | 126 | 90 | 45 | 54 | 94 | 121 |
| Working Capital Days | 49 | 43 | 15 | 18 | 24 | 20 | 22 | 32 | 34 |
| 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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| 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)-Qualified Institutional Placement
39m - Executive Committee approved QIP opening; floor price fixed at ₹640.69 per share on July 30, 2026.
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Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Outcome
2d - Audio recording of Q1 FY27 results conference call shared on July 28, 2026.
- Announcement under Regulation 30 (LODR)-Newspaper Publication 2d
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Announcement under Regulation 30 (LODR)-Investor Presentation
27 Jul - Investor presentation for the quarter ended June 30, 2026
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Announcement under Regulation 30 (LODR)-Press Release / Media Release
27 Jul - Q1 FY27 revenue rose 41% to ₹24,130 Mn; EBITDA up 57%, PAT up 52% YoY.
Annual reports
Concalls
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Jul 2026TranscriptPPT 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 2025TranscriptPPTREC
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Aug 2025TranscriptPPT 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