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 ₹ 8,822 Cr.
- Current Price ₹ 602
- High / Low ₹ 736 / 503
- Stock P/E 20.1
- 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: | -6% |
| 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) % |
|
||||
| Gold Volume Sold tonnes |
|||||
| Number of Cities Number |
|||||
| Studded Jewellery Mix (Stud Ratio) % |
|||||
| Total Number of Stores Number |
|||||
| Total Retail Area sq ft |
|||||
| Total SKUs Number |
|||||
| Average Transaction Value (ATV) INR '000 |
|||||
Extracted by Screener AI
Documents
Announcements
- Shareholder Meeting / Postal Ballot-Notice of Postal Ballot
-
Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation
- Company to attend one-to-one virtual investor meeting with ITI Mutual Fund on September 23, 2026.
-
Announcement under Regulation 30 (LODR)-Acquisition
- Board approved PNG ESOP 2026, Dr. Vaijayanti Pandit reappointment, and up to USD 6.5 million investment in US subsidiary.
-
Announcement under Regulation 30 (LODR)-Change in Directorate
- Board approved PNG ESOP 2026, director reappointment, and up to USD 6.5 million investment in US subsidiary.
-
Outcome Of Board Meeting Approving ESOP Scheme
- Board approved ESOP 2026, reappointed Dr. Vaijayanti Pandit, and sanctioned up to USD 6.5 million subsidiary investment.
Concalls
-
Aug 2026Transcript PPT REC
-
May 2026Transcript PPT REC
-
Feb 2026Transcript PPT REC
-
Nov 2025Transcript PPT REC
-
Aug 2025Transcript REC
-
Aug 2025PPT REC
-
May 2025Transcript PPT REC
-
Feb 2025Transcript PPT REC
-
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.