Navratri sales surged 66% to Rs 428 crore, while Dussehra alone delivered the jeweller’s highest-ever single-day festive sales of Rs 190 crore, up 64% from a year earlier, the company said in a press release statement earlier today.
Gold remained the biggest growth driver, with revenue rising 64%, supported by a 47% increase in diamond sales and a 133% jump in silver revenue. Demand stayed resilient despite a sharp rise in gold prices — up more than 50% YoY and 18% sequentially — with gold volumes increasing 10% to 456 kg. Diamond and silver volumes also rose 53% and 64%, respectively.
“As we step into the festive season, our focus will remain on offering contemporary designs with the craftsmanship and service that PNG Jewellers is known for, while strengthening our presence across PAN India. We see this as a strong beginning to the festive quarter and are confident of building on this momentum,” the management added.
Chairman and Managing Director Dr. Saurabh Gadgil said “Crossing record sales during Navratri and Dussehra, with Dussehra delivering our highest-ever single day festive sales, is a proud milestone for PNG Jewellers. This milestone is the result of the festive spirit and the enduring bond we share with our customers.
Gold once again emerged as the leader of growth, with Diamond and Silver also contributing significantly. In line with the positive response to last Navratri’s ‘Nine Days, Nine Stores’ campaign, we brought PNG Jewellers even closer to our patrons this Navratri through 6 exclusive PNG Jewellers showrooms and 4 LiteStyle shop-in-shop stores, offering greater convenience and choiceP N Gadgil shares ended at Rs 628, higher by 3.5% from the last close on the NSE. Shares of the company are up 15% in the last 6 months.(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)
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