Shares of PN Gadgil Jewellers Ltd. are expected to be in focus on Friday, October 9, after the company reported a 22.4% year-on-year increase in revenue for the second quarter, supported by strong retail performance and festive demand. The retail segment, which contributed 77.3% of total revenue, grew 31.1% YoY, while same-store sales growth stood at 25.5%.
The company's franchise business recorded growth of 34.7% YoY. In contrast, e-commerce revenue declined 83.6% YoY, primarily due to a strategic recalibration of the product mix. Festive demand also supported performance during the quarter. Raksha Bandhan sales recorded a 114% increase in the number of pieces sold and a 142% rise in value compared with the corresponding quarter last year.
Across product categories, gold revenue grew 23.5% YoY, diamond revenue increased 21%, and silver revenue rose 12%. The studded jewellery ratio improved to 11.8%, compared with 9% in the year-ago period. PN Gadgil Jewellers had 80 stores at the end of the quarter and remains on track to expand its network to around 103 stores by the end of FY27, implying the addition of approximately 23 stores.
The company plans to roll out these stores in phases over the remaining two quarters, with openings expected to accelerate. The expansion will be driven primarily by a franchise-led strategy across its Legacy and YOOU store formats. PN Gadgil Jewellers shares settled 1.38% lower at ₹588.80 on Thursday.
The stock has declined nearly 3% so far this year.