India’s jewellery sector is growing rapidly as customer tastes turn towards branded and organized retail. Motisons Jewellers Ltd and P N Gadgil Jewellers are two of the major players in the sector. Although both businesses are important to the industry, each has different strengths and products to offer in the market.
Company Overview
Motisons, established in October 1997, deals in gold, diamond, and kundan jewellery, among other jewellery items.
P N Gadgil established in 1832, is one of the oldest jewellers in Maharashtra and a member of the prestigious PNG Group. They are a major player in the gold, silver, and diamond jewellery segment.
Product Portfolio
Motisons provides products in the form of traditional, contemporary, and fusion designs in numerous lines of jewelry with more than 3,00,000 designs. It has products in diamond, polki, gold, temple, and italian jewelry. Motisons provides jewelry made of earth, silver, platinum, precious and semi-precious stones and other metals, gold and silver coins, utensils, and different types of artifacts
P N Gadgil’s product range consists of different collections such as Azva, Color Mangalsutra, Delicate Designs, Divine Collections and Diwali Festive Collection. They are engaged in diamond, gold and silver jewelry, designing exclusive pieces for women and men.
Industry Outlook
India’s gems and jewellery industry will be led by big retailers and brand names, which will spur the organised market. Increased penetration of organised players provides varied products and styles, while easing gold import curbs further strengthens the industry.
Improved availability, low-cost gold metal loans, and stable gold prices are expected to aid volume growth in the short to medium term. The industry itself is projected to reach USD 100 billion by 2027.
Financial Performance
Motisons reported an 18 percent YoY increase in its revenue from Rs 123 crore to Rs 145 crore in Q3 FY25. This was accompanied by a 36 percent increase in net profits from Rs 11 crore to Rs 15 crore during the same period.
P N Gadgil reported an 24 percent YoY increase in its revenue from Rs 1,939 crore to Rs 2,407 crore in Q3 FY25. This was accompanied by a strong 49 percent increase in net profits from Rs 57 crore to Rs 85 crore during the same period.
Ratio Analysis
Motisons has a Return on Equity (ROE) of 11.11 percent and a Return on Capital Employed (ROCE) of 14.8 percent. Along with this, the company has a Price-to-Earnings (PE) ratio of 41.53 and a low debt-to-equity ratio of 0.26.
P N Gadgil has a Return on Equity (ROE) of 13 percent and a Return on Capital Employed (ROCE) of 17.5 percent. Along with this, the company has a Price-to-Earnings (PE) ratio of 33.53 and a low debt-to-equity ratio of 0.19.
Written by Shwetha Sairam
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