P N Gadgil Jewellers Limited (IN:PNGJL)
:PNGJL
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P N Gadgil Jewellers Limited
(PNGJL)
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Rating:54Neutral
Price Target:
₹585.00
▼(-12.35% Downside)
Action:N/A
Date:05/17/26
The score is held back primarily by weak cash generation (negative operating/free cash flow) and a technically weak price trend below major moving averages. Offsetting factors include strong FY2026 revenue/profitability improvement and a relatively reasonable P/E valuation.
Positive Factors
Revenue growth and scale expansion
A ~185% revenue increase in FY2026 signals a meaningful step-up in scale and market traction. Higher scale supports fixed-cost absorption, broader assortment and supplier leverage, strengthening structural revenue base and competitive position over the next 2–6 months.
Negative Factors
Persistent negative operating and free cash flow
Sustained negative operating and free cash flow means the business consumes cash despite revenue gains, forcing reliance on external financing or working-capital releases. This structurally constrains reinvestment, increases refinancing risk and limits margin-of-error for operational swings.
Read all positive and negative factors
Positive Factors
Negative Factors
Revenue growth and scale expansion
A ~185% revenue increase in FY2026 signals a meaningful step-up in scale and market traction. Higher scale supports fixed-cost absorption, broader assortment and supplier leverage, strengthening structural revenue base and competitive position over the next 2–6 months.
Read all positive factors
P N Gadgil Jewellers Limited (PNGJL) vs. iShares MSCI India ETF (INDA)
Market Cap
₹74.00B
Dividend YieldN/A
Average Volume (3M)27.88K
Price to Earnings (P/E)17.4
Beta (1Y)1.02
Revenue Growth39.59%
EPS Growth83.30%
CountryIN
Employees2,100
SectorConsumer Cyclical
Sector Strength84
IndustryLuxury Goods
Share Statistics
EPS (TTM)10.55
Shares Outstanding135,708,330
10 Day Avg. Volume35,575
30 Day Avg. Volume27,881
Financial Highlights & Ratios
PEG Ratio<0.01
Price to Book (P/B)3.64
Price to Sales (P/S)0.67
P/FCF Ratio-8.70
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)32.37
Revenue Forecast (FY)₹120.79B
P N Gadgil Jewellers Limited Business Overview & Revenue Model
Company Description
P N Gadgil Jewellers Limited, together with its subsidiaries, engages in the retail sale of gems, diamonds, semi-precious stones, and jewellery products in India and the United States. The company sells traditional, modern, and functional jeweller...
How the Company Makes Money
PNGJL primarily makes money by selling jewellery and related products to customers through its retail operations. Its key revenue streams are (1) sale of gold jewellery, where revenue is driven by the gold content value plus making charges and des...
P N Gadgil Jewellers Limited Financial Statement Overview
Summary
Income Statement
66
Positive
Balance Sheet
60
Neutral
Cash Flow
28
Negative
| Breakdown | TTM | Mar 2025 | Mar 2025 |
|---|---|---|---|
Income Statement | |||
| Total Revenue | 37.66B | 107.39B | 76.93B |
| Gross Profit | 4.49B | 10.88B | 54.17M |
| EBITDA | 2.45B | 6.16B | 3.64B |
| Net Income | 1.41B | 4.10B | 25.52M |
Balance Sheet | |||
| Total Assets | 43.41B | 49.64B | 367.97M |
| Cash, Cash Equivalents and Short-Term Investments | 7.37B | 5.04B | 935.87M |
| Total Debt | 12.91B | 17.37B | 9.30B |
| Total Liabilities | 26.40B | 30.01B | 15.90B |
| Stockholders Equity | 17.01B | 19.63B | 15.54B |
Cash Flow | |||
| Free Cash Flow | -5.67B | -8.22B | -7.28B |
| Operating Cash Flow | -4.99B | -7.57B | -6.75B |
| Investing Cash Flow | -6.05B | -925.58M | -51.63M |
| Financing Cash Flow | 8.73B | 7.98B | 11.67B |
P N Gadgil Jewellers Limited Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
73 Outperform | ₹54.12B | 4.93 | ― | 0.31% | 27.13% | 254.05% | |
66 Neutral | ₹8.72B | 3.41 | ― | 1.38% | 11.74% | 101.60% | |
61 Neutral | $18.38B | 12.79 | -2.54% | 3.03% | 1.52% | -15.83% | |
56 Neutral | ₹357.53B | 28.74 | ― | 0.32% | 42.58% | 88.76% | |
56 Neutral | ₹65.42B | 9.16 | ― | ― | 96.01% | 29.63% | |
55 Neutral | ₹60.94B | 60.30 | ― | ― | 28.81% | -4.93% | |
54 Neutral | ₹74.00B | 17.45 | ― | ― | 39.59% | 83.30% |
* Consumer Cyclical Sector Average
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P N Gadgil Jewellers Limited Corporate Events
P N Gadgil Jewellers Posts 40% FY26 Revenue Surge on Stellar Q4 and Store Expansion
Apr 8, 2026
P N Gadgil Jewellers reported a standout FY26 with revenue of ₹10,744 crore, a 40% year-on-year rise, propelled by an exceptionally strong fourth quarter in which total revenue surged 124% to ₹3,552 crore. Revenue excluding the B2B-foc...
P N Gadgil Jewellers Expands Network to 78 Stores with New Maharashtra Openings
Mar 29, 2026
P N Gadgil Jewellers Limited has expanded its retail footprint by opening two new stores in Maharashtra on March 29, 2026, one at R Square Runwal on LBS Road in Mulund, Mumbai, and another at Livin Solitaire at Canada Corner in Nashik. With these ...
P N Gadgil Jewellers Shareholders Approve Appointment of Aditya Saurabh Gadgil to Board
Mar 27, 2026
P N Gadgil Jewellers Limited has announced the results of a postal ballot conducted via remote e-voting, in line with SEBI Listing Regulations and provisions of the Companies Act. Shareholders approved an ordinary resolution appointing Mr. Aditya ...
P N Gadgil Jewellers Lifts Store Network to 75 with Two New Openings in Maharashtra
Mar 22, 2026
P N Gadgil Jewellers Limited has expanded its retail footprint by opening two new stores in Maharashtra, one in Kolhapur and another in Ghatkopar East, Mumbai, on March 22, 2026. With the addition of these outlets, including a Franchise Owned, Com...
P N Gadgil Jewellers Tops ₹10,000 Crore Revenue as Gudi Padwa Sales Surge 38%
Mar 20, 2026
P N Gadgil Jewellers Limited announced that it has surpassed ₹10,000 crore in revenue for the financial year 2025-26, underscoring strong business momentum and reinforcing its position in India’s organised jewellery retail market. The ...
P N Gadgil Jewellers Adds New FOCO Store in Pune, Takes Network to 73 Outlets
Mar 17, 2026
P N Gadgil Jewellers Limited has opened a new store in Aundh, Pune, Maharashtra, under its Franchise Owned, Company Operated model, expanding its presence in a key urban market. With this launch, the company’s total store count has risen to ...
P N Gadgil Jewellers Expands Network to 72 Stores with New Gorakhpur Outlet
Mar 15, 2026
P N Gadgil Jewellers Limited has expanded its retail footprint with the opening of a new store in Shahpur, Bhediyagarh, in Uttar Pradesh’s Gorakhpur district on March 15, 2026. With this launch, the company now operates a total of 72 stores,...
P N Gadgil Jewellers Adds New FOCO Store in Maharashtra, Takes Network to 71 Outlets
Mar 14, 2026
P N Gadgil Jewellers Limited has expanded its retail footprint by opening a new franchise-owned, company-operated jewellery store in Sawantwadi, Sindhudurg, Maharashtra, on March 14, 2026. With this addition, the company now operates a total of 71...
P N Gadgil Jewellers Opens 70th Store with New Outlet in Navi Mumbai
Mar 13, 2026
P N Gadgil Jewellers Limited has opened a new retail outlet at Grand Uran Central in Anand Nagar, Uran, Navi Mumbai, Maharashtra, expanding its physical footprint in a key urban market. With this inauguration on March 13, 2026, the company’s...
PNG Jewellers boosts Maharashtra footprint with new Uran store launch
Mar 13, 2026
P N Gadgil Jewellers has expanded its retail footprint in Maharashtra with the launch of a new 4,500 sq. ft showroom at Grand Uran Central in Navi Mumbai, taking its total store count to 70 across India. The Uran outlet, inaugurated by brand ambas...
P N Gadgil Jewellers Expands Network With New FOCO Store in Navi Mumbai
Mar 7, 2026
P N Gadgil Jewellers Limited has opened a new jewellery store in Navi Mumbai, Maharashtra, operating under the Franchise Owned, Company Operated (FOCO) model at Chhatrapati Shivaji Maharaj Chowk on Vashi–Turbhe Road. With this launch, the co...
P N Gadgil Jewellers launches fully electronic postal ballot for shareholder approval
Feb 25, 2026
P N Gadgil Jewellers Limited has published a newspaper advertisement informing shareholders about a postal ballot process to seek their approval on an ordinary resolution via remote e-voting only. In line with Indian company law and securities reg...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.