This Jewellery stock engaged in the retail jewelry business, offering a wide range of gold, silver, platinum, and diamond jewelry, hit a 10 percent upper circuit after the company reported strong December quarterly results with a 155 percent YOY increase in net profit.
Stock Price Movement:
With a market capitalization of Rs. 8,428.17 crores, the shares of P N Gadgil Jewellers Limited hit a 10 upper circuit of Rs. 621.05 per share on Thursday, up from its previous closing price of Rs. 564.60 per share.
Q3 FY25 Result Walkthrough:
Coming into the quarterly results of P N Gadgil Jewellers Limited, the consolidated revenue from operations increased by 23.51 percent YOY, from Rs. 1,972.16 crore in Q3 FY24 to Rs. 2,435.75 crore in Q3 FY25, and grew by 21.71 percent QoQ from Rs. 2,001.31 crore in Q2 FY25.
Further, the company’s EBITDA has increased by 37.2 percent, from Rs. 94.58 crore in Q3 FY24 to Rs. 129.77 crore in Q3 FY25. The PAT margin increased from 2.9 percent in Q3 FY24 to 3.5 percent in Q3 FY25.
In Q3 FY25, P N Gadgil Jewellers Limited’s consolidated net profit increased by 55 percent YOY, reaching Rs. 86.04 crore compared to Rs. 57.60 crore during the same period last year. As compared to Q3 FY25, the net profit has increased by 155 percent, from Rs. 34.92 crore in Q2 FY25.
The basic earnings per share increased by 146.69 percent and stood at Rs 6.34 as against Rs 2.57 recorded in the previous quarter in the financial year 2024.
Business Operation
PNG Jewellers, a prestigious jewelry brand with 192 years of legacy. The company has established a significant retail presence with 48 stores across 25 cities worldwide, covering a total retail area of 145,211 square feet. With a workforce of 1,848 employees, it manages 12 sub-brands as of December 2024.
Sales Insights in 9M FY25:
The company’s business metrics show strong performance with an average revenue of 0.4 Mn per sq ft and 127.19 crore per store for 9M FY25. The company maintains a robust inventory of 39,456 total SKUs and a stud ratio of 7.4 percent. Its average transaction value stands at 86.1K, with a same-store sales growth (SSSG) of 25.7 percent for the existing 22 stores in 9M FY25.
In terms of precious metal sales, PNG Jewellers sold 7.1 tonnes of gold and 19.4 tonnes of silver, with annualized stock turn ratios of 5.3 and 5.1 for gold and silver, respectively.
Written By – Nikhil Naik
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