About P N Gadgil Jewellers Limited

P N Gadgil Jewellers Limited is a jewellery retailer engaged in the sale of gold, silver, diamond jewellery, and other precious stones, with business operations conducted since October 28, 2013 as a professionally run corporate entity rooted in a legacy Maharashtra jewellery house lineage. The Company operates retail and non-retail channels and follows a cash-and-carry oriented model, with inventory comprising high-value gold, diamonds, gemstones, and related products across multiple locations and third-party job workers. The Company is listed on BSE and NSE with equity shares admitted to trading from September 17, 2024, and maintains dematerialised liquidity of 99.99% of total capital as on March 31, 2025. It has an international wholly owned subsidiary in the USA, PNG Jewelers INC., supporting overseas ambitions, while India remains the primary operating geography for manufacturing and sale of jewellery per internal segment determination by the CODM.

A key milestone in FY 2024–25 was the successful IPO at an issue price of Rs 480 per share, aggregating to Rs 850.00 crore, with Rs 832.29 crore credited to securities premium (net of Rs 50.23 crore IPO expenses adjusted against the premium), strengthening the balance sheet and equity base. On a standalone basis, revenue from operations for FY 2024–25 was Rs 7,630.55 crore and profit after tax was Rs 214.88 crore; consolidated revenue and PAT were Rs 7,693.47 crore and Rs 218.27 crore respectively, reflecting strong growth along with expanded store footprint under COCO and FOCO models during the year under the Managing Director’s leadership. As per segment reporting, the Company has a single primary segment—manufacture and sale of jewellery—and does not present separate geographic segments given CODM’s view; accordingly, all financials reflect this integrated segment.

P N Gadgil Jewellers Business Segment

• Primary segment: manufacture and sale of jewellery (gold, silver, diamond, others) as a single reportable segment under Ind AS 108 per CODM; no separate segmental revenue/profit disclosures are presented beyond the integrated financial statements.

• Product mix detail (standalone, FY 2024–25): Gold Rs 7,053.60 crore, Silver Rs 262.27 crore, Diamond Rs 268.79 crore, Others Rs 42.75 crore; total traded products Rs 7,627.41 crore, aligning with sale of products reported in revenue from operations.

• Revenue channel mix (standalone, FY 2024–25): Retail Rs 5,326.34 crore; Non-retail Rs 2,301.07 crore; Franchise income Rs 3.14 crore; total revenue from operations Rs 7,630.55 crore.

• Geographic split: Not disclosed; India is the core operating geography, with a wholly owned USA subsidiary supporting international presence;

P N Gadgil Jewellers Key Management

• Saurabh Vidyadhar Gadgil — Managing Director (DIN 00616563).

• Parag Yashwant Gadgil — Executive Director (DIN 01536943).

• Radhika Saurabh Gadgil — Executive Director; designation approved to change to Whole-time Director from August 19, 2025 (DIN 00490499).

• Kiran Firodiya — Chief Financial Officer; designation approved to change to Whole-time Director from August 19, 2025 (DIN 03386738).

• Independent Directors during FY 2024–25 include Shaswati Vaishnav, Vaijayanti Ajit Pandit, and Susmit Ajit Ranade; Ravindra Prabhakar Marathe ceased as Independent Director effective April 04, 2025.

Latest Updates on P N Gadgil Jewellers

• Equity shares listed on BSE and NSE with effect from September 17, 2024, and annual listing fees paid for FY 2025–26; securities not suspended from trading.

• Successful IPO aggregating to Rs 850.00 crore at Rs 480 per share; securities premium of Rs 832.29 crore recognized with Rs 50.23 crore IPO expenses adjusted against premium.

• Store expansion: 16 new COCO stores and 1 FOCO store opened in FY 2024–25 under the Managing Director’s leadership.

• Borrowing limits proposed to increase from Rs 1,000 crore to Rs 4,000 crore; corresponding charge creation limit aligned, approved by Board subject to members’ approval.

• Remuneration changes: Managing Director proposed annual remuneration up to Rs 17.00 crore plus 2% commission of net profit effective April 01, 2025; CFO’s designation to Whole-time Director with proposed remuneration up to Rs 5.00 crore; waiver for excess remuneration paid to CFO in FY 2024–25 placed for shareholders’ approval.

Credit ratings updates include upgrades to CRISIL A1 for short-term and reaffirmations at CRISIL A- Stable and IND A/IND A1 with positive implications as applicable during the year.