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P N Gadgil Jewellers' September-quarter revenue rises 22.4%; retail up 31.1%, around 23 new stores planned in FY27
Our read
P N Gadgil's retail revenue grew 31.1% and Rakhi sales rose 114%, so festive-led assortments and store execution are driving growth, while e-commerce revenue fell 83.6%, which shows how far the mix has moved toward stores.
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December-quarter revenue growth compared with the 22.4% September-quarter rate
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The report,
At P N Gadgil Jewellers, the franchise business grew 34.7%, while Rakhi sales jumped 114% and e-commerce revenue declined 83.6%. RentoMojo, also in focus, reported revenue up 51.1% YoY to ₹126.33 crore.
- Rakhi sales growth, September quarter114%
- Franchise business growth, September quarter34.7%
- Retail revenue growth, September quarter31.1%
- Total revenue growth, September quarter22.4%
Why it matters to operators
Franchise revenue growth of 34.7% alongside around 23 planned FY27 store openings marks P N Gadgil as a franchise-assisted expansion story to benchmark or partner with, but its e-commerce pullback leaves little digital channel to build on.