The sharp spike in gold prices surely added some sheen to PN Gadgil Jewellers’ festive sales. The Maharashtra-based jewellery retailer registered a 74% year-on-year sales growth during the festive season. The jeweller posted total sales of Rs 606 crore during the Diwali season. On Dhanteras, the company saw its highest-ever single-day sale at Rs 277 crore. On a yearly basis, the company’s Dhanteras sales grew by 105 per cent.
Gold the big driver of festive sales
The company’s growth in the festive season was primarily driven by the gold segment, which saw a 74 per cent YoY revenue growth. The silver and diamond jewellery category also saw good growth in the season, growing by 90 per cent and 54 per cent YoY, respectively.
On a volume basis, the PN Gadgil sold a total of 390 kg during the Diwali season, increasing by 60 per cent YoY. The diamond and silver jewellery sales grew by 47 and 17 per cent YoY, respectively, by volume.
Saurabh Gadgil, Chairman and Managing Director of P N Gadgil Jewellers, said, “Through the launch of new festive offers, enhanced showroom experiences, and staying true to our core values, we have been able to delight our customers, drive robust growth across all categories, and strengthen our connection with them, despite fluctuating gold prices.”
PN Gadgil Q2 business
PN Gadgil’s core jewellery business posted a 31 per cent YoY growth in the second quarter of FY26. The company’s core jewellery business (excluding refining) grew to Rs 21,733 crore in Q2 FY26, from Rs 16,571 crore in Q2 FY25.
The company’s e-commerce segment revenue grew by 113 per cent in the quarter on a yearly basis. The segment contributed 6.6 per cent to the total revenue of the company in Q2.
Furthermore, PN Gadgil’s franchise segment business surged by 105 per cent and accounted for 15.6 per cent of its revenue in the quarter. During the quarter, the jeweller launched eight showrooms, comprising five company-owned outlets and 3 franchise outlets, bringing the total store count to 63 by the end of the September quarter.
