Last updated : May 11, 2026 4:44 pm
The brand’s revenue for FY26 crossed Rs 149 Crore with 21% PAT Margins, where the retail network includes 126 touchpoints across 21 states with zero store closures since inception.
PNGS Gargi Fashion Jewellery Limited, a youth-focused fashion jewellery brandof P. N. Gadgil & Sons Ltd., announced its audited standalone financial results for the quarter and full year ended March 31, 2026, where the company’s revenue stood at ₹149.4 crore in FY26 as against ₹126.3 crore last year, with an 18.2% YoY growth.
Gross profit for the year stood at Rs 64.1 crore, up 27.4 percent year-on-year, while gross profit margin expanded to 42.9 percent from 39.9 percent in the previous fiscal. EBITDA reached Rs 39.6 crore with a margin of 26.5 percent, while profit after tax stood at Rs 31.3 crore with a margin of 21.0 percent.
The fourth quarter demonstrated sharply accelerating momentum, with revenue surging 30.4% YoY to ₹29.6 crore. Gross Profit leaped 54.0% YoY to ₹13.6 crore, with Gross Margins expanding by 706 bps to 46.1%. EBITDA grew 46.6% YoY to ₹6.9 crore, and PAT stood at ₹5.1 crore, up 25.1% YoY, signalling powerful momentum heading into FY27.
Retail expansion with zero closures
The company’s retail network expanded to 126 touchpoints across 21 states and 65 cities, comprising:
38 Exclusive Brand Outlets (EBOs)
34 Shop-in-Shop (SIS) locations with P. N. Gadgil & Sons Ltd.
54 SIS formats with Shoppers Stop and other strategic retail partners
In FY26, Gargi added 32 new Point of Sales, including 18 in Q4 alone, while maintaining 100% store retention since inception. Revenue from markets outside Maharashtra surged 104.1% YoY to ₹16 crore.
“FY26 represents a landmark year for PNGS Gargi — and a watershed moment in our growth journey,” said Aditya Amit Modak, Co-Founder of PNGS Gargi Fashion Jewellery Ltd. “We delivered revenue of ₹149 crore while maintaining a PAT margin of ~21%, proving that legacy, profitability, and speed can coexist beautifully. Our asset-light, debt-free model continues to be a key differentiator — we expanded to 126 retail touchpoints across 21 states, added 32 new stores without a single closure, and saw our non-Maharashtra revenue more than double. We also received a clean audit opinion from our statutory auditors, reinforcing our unwavering focus on governance and transparency. The speed is real. The best is ahead.”
Key Strategic Developments
During FY26, PNGS Gargi Fashion Jewellery Ltd continued to strengthen its growth roadmap through capital infusion, portfolio premiumisation, and geographic expansion.
Successfully raised ₹10 crore at ₹970/share to fuel pan-India marketing and expansion.
Expanded the IGI-certified 14KT diamond-studded jewellery line, driving premiumisation. Diamond jewellery now contributes 34% of FY26 revenue.
Opened operations in Hyderabad, with Bengaluru expansion on the horizon.
The company’s outlook
With a clear growth roadmap for FY27 and beyond, PNGS Gargi targets:
20+ new Point of Sales annually across Tier 1, Tier 2, and emerging markets
~35% Revenue CAGR through disciplined execution
Geographic deepening in South India (Hyderabad, Bengaluru)
Product premiumization through expanded diamond and plain gold collections
Brand building momentum led by Mithila Palkar, driving engagement with millennials and Gen Z