PNGS Gargi Fashion Jewellery Ltd — Updates, 14-06-2025: Company Update

PNGS Gargi Fashion Jewellery has announced a strong FY25 performance with turnover rising 147% YoY to INR126.35 Cr and PAT increasing from INR8.46 Cr to INR28.8 Cr. Excluding a one-time B2B inventory sale, B2C sales grew 62% to INR82.44 Cr, driven by better product mix and operating leverage boosting EBITDA margins to 30%. The company added nine stores, totaling 14 exclusive brand outlets, and plans to open at least 12 more stores in FY26 across metros and Tier 2 cities, targeting 47-50 stores by year-end. Marketing spend will jump to INR7 Cr to support expansion and brand visibility, especially outside Maharashtra, which may pressure margins short-term but aims for higher growth and profitability. Online sales have risen to 4.5% of revenues, with a 10% target over the next 2-3 years supported by a new app launch and Blinkit partnership. The company expects FY26 B2C top-line growth to outperform industry averages of 20-25%, with stable or improved PAT margins due to scale benefits and cost absorption. Expansion includes affordable and diamond studded jewellery, with emphasis on maintaining sustainable, profitable growth without cash burn, backed by a 190-year-old legacy. The company is compliant and plans to move from SME to main board within the next year.