P N Gadgil Jewellers shares in focus after Q1 revenue rises 2.8% YoY; retail segment up 19.4%

Shares of P N Gadgil Jewellers will be in focus on Tuesday after the company reported a 2.8% year-on-year (YoY) increase in total revenue to Rs 1,714 crore for the first quarter of FY26, up from Rs 1,668 crore in the same period last year, according to its exchange filing.

Excluding the discontinued refinery segment, revenue grew 30.4% YoY.

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The retail segment, which contributes over 70% of total revenue, grew 19.4% YoY. The company also recorded its highest-ever single-day festive sales on Akshaya Tritiya, generating Rs 139.53 crore, a 35.1% jump compared to the previous year.

Franchise operations surged 109% YoY, contributing 15.7% to revenue, while e-commerce sales more than doubled, growing 126% YoY. The share of studded jewellery also rose sharply by 41.6%, lifting the stud ratio to 10% of retail sales.

The company launched a new sub-brand ‘Litestyle’, targeting the lightweight jewellery segment, and added two new stores during the quarter, taking the total store count to 55.

Looking ahead, P N Gadgil plans to open 7–9 new stores in Q2FY26 and aims to launch 20–25 outlets in FY26 across key markets such as Maharashtra, Uttar Pradesh, and Madhya Pradesh.

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P N Gadgil share price target

According to Trendlyne, the average target price for P N Gadgil is Rs 825, implying a potential upside of nearly 35% from current levels. The sole analyst covering the stock maintains a ‘Strong Buy’ rating.

The stock has gained 20% in the past three months, though it is down 9% year-to-date. The company’s market capitalisation stands at Rs 8,274 crore.

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