P N Gadgil Jewellers

P N Gadgil Jewellers delivered a stellar FY26, crossing ₹10,739 croreCurrent reported value: ₹10,739 crore. No comparable prior figure is available in the source record. in consolidated revenue (+40Current reported value: 40. No comparable prior figure is available in the source record.% YoY), driven by robust festive demand and store expansion. Q4Current reported value: 4. No comparable prior figure is available in the source record. revenue surged 123% YoYCurrent reported value: 123% YoY. No comparable prior figure is available in the source record. to ₹3,544Current reported value: 3,544. No comparable prior figure is available in the source record. crore, though gross margins compressed 230bps to 9.7% due to a higher mix of low-margin gold bars/coins (40% of sales vs 28% last year) and one-time promotional discounts. Management expects margins to normalize as gold bar/coin share reverts to ~25% in FY27, aided by the recent import duty hike curbing investment demand. For FY27, they guided ₹13,500 croreCurrent reported value: ₹13,500 crore. No comparable prior figure is available in the source record. revenue with EBITDA margin of 7-7.5% and PAT margin of 4%. Key risks include sustained margin pressure if gold bar/coin demand remains elevated and execution challenges in new geographies like UP and Gujarat.