PNGJL

P N Gadgil Jewellers Limited

Organized jewellery retailer of gold, silver and diamond jewellery

Consumer Discretionary›Consumer Durables›Consumer Durables›Gems, Jewellery And Watches

pngjewellers.com(opens the company website in a new tab)
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Key metrics

Price as of 2026-10-16

Stock price
₹603.35
Market cap
8,881 Cr
Stock P/E
18.4
P/B
4.17
ROE (FY26)
20.9%
ROCE (FY26)
18.2%
Operating margin (FY26)
5.2%
Debt / equity (FY26)
0.80
OCF / EBITDA (FY26)
-116.4%
OCF / EBITDA (3Y)
-113.5%

Full years shown; sign in free for the trailing twelve months. Learn about these metrics →

Price & valuation

Share price and valuation multiples (P/E, P/B and more) over time.

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Compare with peers

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What you need to know

PNG Jewellers (P N Gadgil Jewellers) sells gold, silver and diamond jewellery, plus gold bars and coins, in India through its own stores, franchise stores and online.

Company snapshot

8thBy market cap

Ranked among 39 companies in Gems, Jewellery And Watches.

What we see

Positives
  • ✓Return on equity of 20.9% — the company generates strong returns on shareholders' money.
Concerns
  • ✗Over the last three years operations used more cash than they brought in, despite an operating profit — the business is not yet turning its profit into cash.

Statement tables · Consolidated

Switches quarterly, P&L, balance sheet, and cash flow. Key metrics and ratios stay on consolidated when available.

Amounts in ₹ Cr · tap + to expand rows

Quarterly results

Quarterly · ₹ Cr · tap + rows to expand

MetricJun 2024Sept 2024Dec 2024Mar 2025Jun 2025Sept 2025Dec 2025Mar 2026Jun 2026
Sales1,668 Cr2,001 Cr2,436 Cr1,588 Cr1,715 Cr2,178 Cr3,303 Cr3,544 Cr2,413 Cr
Operating expenses (approx.)1,604 Cr1,947 Cr2,313 Cr1,494 Cr1,605 Cr2,070 Cr3,058 Cr3,409 Cr2,231 Cr
EBITDA64 Cr54 Cr123 Cr94 Cr110 Cr107 Cr244 Cr135 Cr182 Cr
OPM %3.9%2.7%5.0%5.9%6.4%4.9%7.4%3.8%7.6%
Other income2 Cr12 Cr7 Cr15 Cr13 Cr36 Cr27 Cr31 Cr10 Cr
Interest12 Cr13 Cr6 Cr11 Cr19 Cr20 Cr25 Cr28 Cr34 Cr
Depreciation6 Cr7 Cr8 Cr13 Cr11 Cr14 Cr15 Cr17 Cr18 Cr
Profit before tax48 Cr46 Cr115 Cr85 Cr93 Cr109 Cr228 Cr122 Cr141 Cr
Tax %26.0%23.8%25.2%26.7%25.2%27.3%25.1%26.0%25.1%
Net profit35 Cr35 Cr86 Cr62 Cr69 Cr79 Cr171 Cr90 Cr105 Cr
EPS (₹)₹2.99₹2.57₹6.34₹4.57₹5.11₹5.84₹12.59₹6.65₹7.76

Profit & loss (annual)

Annual · last column is TTM · ₹ Cr · tap + to expand

MetricMar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales2,556 Cr4,508 Cr6,111 Cr7,693 Cr10,739 CrSign in free for the trailing twelve months
Operating expenses (approx.)2,444 Cr4,385 Cr5,842 Cr7,358 Cr10,123 CrSign in free for the trailing twelve months
EBITDA111 Cr123 Cr269 Cr336 Cr616 CrSign in free for the trailing twelve months
OPM %4.4%2.7%4.4%4.4%5.7%Sign in free for the trailing twelve months
Other income31 Cr52 Cr8 Cr35 Cr88 CrSign in free for the trailing twelve months
Interest35 Cr35 Cr46 Cr43 Cr92 CrSign in free for the trailing twelve months
Depreciation22 Cr22 Cr23 Cr35 Cr57 CrSign in free for the trailing twelve months
Profit before tax85 Cr118 Cr208 Cr293 Cr552 CrSign in free for the trailing twelve months
Tax %18.2%20.6%25.9%25.5%25.7%Sign in free for the trailing twelve months
Net profit70 Cr94 Cr154 Cr218 Cr410 CrSign in free for the trailing twelve months
EPS (₹)₹12.59₹16.97₹21.59₹17.10₹30.20Sign in free for the trailing twelve months
Dividend payout %———0.0%0.0%Sign in free for the trailing twelve months
Sign in free for the trailing twelve months

The latest four quarters added up, next to each full year

Balance sheet

Annual · ₹ Cr · tap + rows to expand

MetricMar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity capital55 Cr55 Cr118 Cr136 Cr136 Cr
Reserves254 Cr318 Cr416 Cr1,418 Cr1,827 Cr
Borrowings295 Cr283 Cr396 Cr823 Cr1,580 Cr
Other liabilities533 Cr414 Cr534 Cr767 Cr1,422 Cr
Total liabilities1,110 Cr1,063 Cr1,465 Cr3,144 Cr4,964 Cr
Fixed assets (net)143 Cr142 Cr150 Cr187 Cr230 Cr
CWIP4 Cr4 Cr4 Cr4 Cr0 Cr
Investments1 Cr1 Cr0.95 Cr9 Cr8 Cr
Loans & advances———0.11 Cr0.21 Cr
Inventories704 Cr597 Cr959 Cr2,021 Cr3,655 Cr
Trade receivables29 Cr39 Cr38 Cr50 Cr63 Cr
Cash & bank12 Cr18 Cr26 Cr94 Cr42 Cr
Other assets218 Cr262 Cr288 Cr780 Cr966 Cr
Total assets1,110 Cr1,063 Cr1,465 Cr3,144 Cr4,964 Cr

Cash flows

Annual · ₹ Cr · tap + rows to expand · last column includes FCF

MetricMar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from operating activity73 Cr105 Cr6 Cr-675 Cr-717 Cr
Cash from investing-22 Cr-45 Cr-49 Cr-424 Cr-54 Cr
Cash from financing-46 Cr-55 Cr51 Cr1,167 Cr719 Cr
Net cash flow5 Cr5 Cr9 Cr68 Cr-52 Cr
Free cash flow (OCF − Capex)68 Cr57 Cr-24 Cr-728 Cr-782 Cr

Ratios

MetricMar 2022Mar 2023Mar 2024Mar 2025Mar 2026
ROCE %20.8%23.6%27.3%14.1%18.2%
ROE %20.4%20.3%28.9%14.0%20.9%
Debtor days43222
Inventory days1115263105141
Days payable2712101322
Cash conversion cycle88445594121
OCF / EBITDA %65.4%n.m.2.3%-201.1%-116.4%
OCF / EBITDA % (3 years)——36.5%-77.5%-113.5%
Debt / equity1.050.770.740.530.80
Current ratio1.221.501.551.801.53
Net debt / EBITDA2.542.161.382.172.50