PNGS Reva Diamond Jewellery Reports Strong FY26 Annual Results; Revenue Surges to INR 4,390.28 Million

PNGS Reva Diamond Jewellery Limited announced its audited financial results for the quarter and year ended March 31, 2026, at a Board of Directors meeting held on May 11, 2026. The statutory auditors, MSKA & Associates LLP (formerly known as M S K A & Associates), issued an unmodified audit opinion on the results. The Board meeting commenced at 12:07 p.m. and concluded at 01:50 p.m.

Strong Revenue and Profit Growth in FY26

The company delivered a significant improvement in financial performance for the full year ended March 31, 2026. Revenue from operations reached INR 4,390.28 million, compared to INR 644.70 million in the year ended March 31, 2025. Total income for FY26 stood at INR 4,410.63 million versus INR 646.02 million in FY25. Profit after tax for FY26 was INR 646.55 million, against INR 65.85 million in FY25. Basic and diluted earnings per share (not annualized for quarters) for FY26 were Rs. 28.41, compared to Rs. 3.17 in FY25.

The following table summarizes the key financial metrics for the year and the most recent quarter:

Metric: Q4 FY26 (Mar 31, 2026) Q3 FY26 (Dec 31, 2025) Q4 FY25 (Mar 31, 2025) FY26 (Full Year) FY25 (Full Year) Revenue from Operations (INR mn): 1,381.26 1,441.83 578.14 4,390.28 644.70 Other Income (INR mn): 15.22 1.15 1.31 20.35 1.32 Total Income (INR mn): 1,396.48 1,442.98 579.45 4,410.63 646.02 Total Expenses (INR mn): 1,109.06 1,133.90 510.11 3,545.91 558.36 Profit Before Tax (INR mn): 287.42 309.08 69.34 864.72 87.66 Total Tax Expenses (INR mn): 73.33 77.94 21.81 218.17 21.81 Profit After Tax (INR mn): 214.09 231.14 47.53 646.55 65.85 Total Comprehensive Income (INR mn): 213.80 231.15 47.70 646.11 66.02 Basic EPS (Rs.): 8.40 10.57 2.29 28.41 3.17 Diluted EPS (Rs.): 8.40 10.57 2.29 28.41 3.17

Revenue Breakdown by Product Segment

Management provided a segment-level breakdown of revenue from operations. Diamond studded jewellery including precious stones contributed INR 3,821.01 million for FY26 and INR 1,137.45 million for the quarter ended March 31, 2026. Gold sales, which are incidental to the company's core business and arise from the disposal of excess gold received from customers as part consideration for diamond jewellery purchases, contributed INR 569.27 million for FY26 and INR 243.81 million for the quarter.

Particulars: Q4 FY26 (INR mn) FY26 (INR mn) Diamond Studded Jewellery incl. Precious Stones: 1,137.45 3,821.01 Gold Sales: 243.81 569.27 Total Revenue from Operations: 1,381.26 4,390.28

The company clarified that it does not engage in gold bullion or commodity trading, and gold sales represent only the excess gold remaining after consumption for manufacturing new jewellery.

Balance Sheet and Cash Flow Highlights

As at March 31, 2026, total assets stood at INR 7,153.87 million compared to INR 2,268.35 million as at March 31, 2025. Total equity increased to INR 5,152.00 million from INR 1,001.91 million. Inventories grew to INR 3,355.54 million from INR 1,794.17 million, while cash and cash equivalents at year-end were INR 1,142.17 million versus INR 390.20 million in the prior year. Current borrowings stood at INR 1,658.84 million as at March 31, 2026.

For the year ended March 31, 2026, net cash used in operating activities was INR (1,048.26) million, net cash used in investing activities was INR (2,468.34) million, and net cash generated from financing activities was INR 4,268.57 million, resulting in a net increase in cash and cash equivalents of INR 751.97 million.

IPO Proceeds and Store Expansion

The company completed its Initial Public Offer (IPO) of 98,32,000 equity shares of face value of Rs. 10 each at an issue price of Rs. 386 per share (including a share premium of Rs. 376 per share) as a fresh issue. The equity shares were listed on NSE and BSE on March 04, 2026. Net proceeds from the IPO amounted to Rs. 3,491.24 million (net of IPO expenses of Rs. 303.91 million). As at March 31, 2026, INR 226.83 million of the net proceeds had been utilised, with INR 3,264.41 million remaining unutilised and temporarily retained in fixed deposits, monitoring account, and escrow account.

The utilisation of IPO proceeds is detailed below:

Object: Amount to be Utilised (INR mn) Amount Utilised up to Mar 31, 2026 (INR mn) Un-utilised Amount (INR mn) Setting-up of 15 New Stores: 2,865.64 204.49 2,661.15 Marketing & Promotional Expenses for 15 New Stores: 354.00 0.31 353.69 General Corporate Purposes: 271.60 22.03 249.57 Total: 3,491.24 226.83 3,264.41

As on May 11, 2026, the company operates 34 Shop-in-Shop (SIS) stores with P. N. Gadgil & Sons Limited and 2 exclusive brand stores.

Secretarial Auditor Appointment

The Board also approved the appointment of Ms. Ruchi Bhave, Practicing Company Secretary, as Secretarial Auditor of the company pursuant to Regulation 24A of SEBI LODR Regulations, 2015. Her term will run for five years from FY 2026-27 to FY 2030-31, subject to approval of members at the ensuing Annual General Meeting. Ms. Ruchi Bhave is a Fellow Member of the Institute of Company Secretaries of India with more than seven years of post-qualification experience in the corporate secretarial field, including expertise in secretarial audits of listed and unlisted entities and Depository Participants Audits.

In a regulatory filing dated April 02, 2026, Govind Vishwanath Gadgil, a promoter of pngs reva diamond jewellery , formally declared that there have been no encumbrances on the company's shares during the financial year ended March 31, 2026. This declaration was submitted to the Chairman of the Audit Committee in compliance with Regulation 31(4) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011.

Declaration Details

The disclosure was made on behalf of Govind Vishwanath Gadgil, as well as the other promoters and members of the promoter group. The letter explicitly states that no shares were encumbered, directly or indirectly, by the promoters throughout the specified financial period. The communication was sent from the promoter's residence in Shaniwar Peth, Pune, to the company's headquarters located at Abhiruchi Mall, Sinhgad Road, Wadgaon Budruk, Pune.

Regulatory Compliance

The submission fulfills the requirements set forth by the Securities and Exchange Board of India (SEBI), ensuring transparency regarding the holding status of the promoters. The company, listed on the BSE with the scrip code 544718 and symbol PNGSREVA, has recorded this declaration for official purposes.

Detail Information Regulation Regulation 31(4) of SEBI (SAST) Regulations, 2011 Financial Year Year ended March 31, 2026 Declaration Date April 02, 2026 BSE Scrip Code 544718 Promoter Name Govind Vishwanath Gadgil

The declaration confirms that the promoters' shareholding remains free from any encumbrance as of the end of the fiscal year 2026.

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