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 ₹ 9,026 Cr.
- Current Price ₹ 613
- High / Low ₹ 736 / 503
- Stock P/E 20.1
- Book Value ₹ 145
- Dividend Yield 0.00 %
- ROCE 20.9 %
- ROE 23.4 %
- Face Value ₹ 10.0
Pros
- Company is expected to give good quarter
- Company has delivered good profit growth of 273% 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
Consolidated Figures in Rs. Crores / View Standalone
Profit & Loss
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|---|---|
| 2,458 | 1,902 | 2,539 | 4,488 | 6,061 | 7,586 | 10,739 | 11,438 | |
| 2,355 | 1,844 | 2,428 | 4,366 | 5,790 | 7,249 | 10,123 | 10,769 | |
| Operating Profit | 103 | 57 | 111 | 123 | 271 | 337 | 616 | 669 |
| OPM % | 4.2% | 3.0% | 4.4% | 2.7% | 4.5% | 4.4% | 6% | 6% |
| 17 | 14 | 31 | 52 | 7 | 34 | 85 | 101 | |
| Interest | 43 | 38 | 35 | 35 | 46 | 43 | 92 | 107 |
| Depreciation | 27 | 27 | 22 | 22 | 23 | 35 | 57 | 64 |
| Profit before tax | 50 | 7 | 85 | 118 | 209 | 293 | 552 | 600 |
| Tax % | 46% | 201% | 18% | 21% | 26% | 26% | 26% | |
| 27 | -7 | 70 | 94 | 155 | 218 | 410 | 446 | |
| EPS in Rs | 4.88 | 0.19 | 10.43 | 13.46 | 13.15 | 16.08 | 30.20 | 32.84 |
| Dividend Payout % | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | 41% |
| 3 Years: | 34% |
| TTM: | 48% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | 273% |
| 3 Years: | 77% |
| TTM: | 78% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | % |
| 1 Year: | 3% |
| Return on Equity | |
|---|---|
| 10 Years: | % |
| 5 Years: | 25% |
| 3 Years: | 24% |
| Last Year: | 23% |
Balance Sheet
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|
| Equity Capital | 55 | 55 | 55 | 55 | 118 | 136 | 136 |
| Reserves | 132 | 135 | 191 | 256 | 416 | 1,418 | 1,827 |
| 443 | 402 | 398 | 387 | 455 | 930 | 1,737 | |
| 563 | 422 | 465 | 365 | 475 | 660 | 1,264 | |
| Total Liabilities | 1,192 | 1,014 | 1,110 | 1,063 | 1,465 | 3,144 | 4,964 |
| 184 | 242 | 234 | 208 | 242 | 322 | 410 | |
| CWIP | 56 | 4 | 4 | 4 | 4 | 4 | 0 |
| Investments | 1 | 1 | 1 | 1 | 1 | 9 | 8 |
| 951 | 768 | 872 | 850 | 1,218 | 2,811 | 4,546 | |
| Total Assets | 1,192 | 1,014 | 1,110 | 1,063 | 1,465 | 3,144 | 4,964 |
Cash Flows
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|
| 68 | 147 | 73 | 107 | 6 | -675 | -717 | |
| 3 | -26 | -22 | -47 | -49 | -424 | -54 | |
| -93 | -128 | -46 | -55 | 51 | 1,167 | 719 | |
| Net Cash Flow | -22 | -7 | 5 | 5 | 9 | 68 | -52 |
| Free Cash Flow | 52 | 114 | 68 | 60 | -46 | -1,109 | -782 |
| CFO/OP | 80% | 244% | 74% | 117% | 16% | -176% | -95% |
Ratios
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|
| Debtor Days | 9 | 6 | 4 | 3 | 2 | 2 | 2 |
| Inventory Days | 126 | 133 | 111 | 53 | 62 | 104 | 141 |
| Days Payable | 18 | 15 | 27 | 12 | 10 | 13 | 22 |
| Cash Conversion Cycle | 117 | 124 | 89 | 44 | 55 | 94 | 121 |
| Working Capital Days | -3 | 4 | 16 | 20 | 21 | 32 | 34 |
| ROCE % | 8% | 21% | 23% | 30% | 19% | 21% |
Insights
In beta| Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|
| Same-Store Sales Growth (SSSG) % ・Standalone data |
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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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Board Meeting Intimation for Board Meeting To Be Held On September 19, 2026
- Board meeting on September 19, 2026 to consider approving an Employee Stock Option Plan.
-
Announcement under Regulation 30 (LODR)-Newspaper Publication
- Newspaper Publication for the Notice of 13th Annual General Meeting and Remote E-Voting Information
-
Letter To Shareholders - Weblink Of The Annual Report For The Financial Year 2025-26
- AGM scheduled for September 28, 2026; annual report web-link sent to shareholders without registered emails.
-
Business Responsibility and Sustainability Reporting (BRSR)
- P N Gadgil Jewellers filed BRSR for FY 2025-26 as part of the annual report.
- Notice Of 13Th Annual General Meeting ('AGM')
Concalls
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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 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 has introduced Temple Motifs, Contemporary Jewellery designs, Light Weight, Daily Wear and Designer Collections, etc.