PN Gadgil Shares in Focus: Released Q1 FY25 Results

On October 7, 2024, P N Gadgil Jewellers Ltd released its Q1 FY25 results via an exchange filing, revealing a consolidated revenue increase of approximately 33% compared to Q1 FY24, fueled by strong sales momentum across its stores. The company recorded a profit after tax (PAT) of ₹353.21 million for Q1 FY25, marking a growth of over 59% year-over-year for the same quarter. Total revenue for the quarter reached ₹16,681 million, up from ₹12,568 million in the previous fiscal year.

In Q1 FY25, the company achieved an EBITDA of ₹662.58 million, compared to ₹456.44 million in the same quarter last year. The first quarter also included two major festivals—Gudi Padwa and Akshaya Tritiya—during which sales surged by 78% and 31%, respectively, compared to the previous year.

Segmental Growth

Retail revenue for FY25 rose to ₹9,881.62 million from ₹7,892.05 million in FY24, reflecting a 25% year-over-year increase. Retail EBITDA for FY25 increased to ₹632.69 million from ₹431.30 million in FY24, marking a 47% rise, while Retail PAT grew to ₹338.93 million from ₹209.18 million in FY24, up 62% year-over-year.

E-commerce revenue for Q1 FY25 soared to ₹292.64 million from ₹132.98 million in FY24, a remarkable 120% increase. Franchise revenue for FY25 climbed to ₹1,283.41 million, up from ₹1,040.61 million in FY24, a growth of 23%.

Store Growth

Revenue per store in FY25 rose to ₹427 million from ₹393 million in FY24, a 9% increase. Branch-wise profitability improved to ₹9.06 million from ₹6.92 million in FY24, reflecting a 31% growth. Additionally, the Average Transaction Value (ATV) of sales increased to ₹1,05,454 from ₹84,706 in FY24, a rise of 25%.

During the first quarter, P N Gadgil Jewellers launched new collections, including the Saptam 2 (Gold Jewellery) and the Polmi Polki Collection (Diamond Jewellery). The company also opened three new stores in Maharashtra during Q1 FY25, bringing its total to 39 stores.

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