NEW DELHI:- PNGS Gargi Fashion Jewellery Limited has reported a landmark financial performance for FY26, with revenue from operations crossing ₹149 crore and profit margins remaining among the strongest in India’s organised fashion jewellery segment. The company’s audited results reflect rapid retail expansion, rising profitability, and continued growth beyond its Maharashtra stronghold.
The company reported FY26 revenue of ₹149.4 crore, marking an 18.2 percent year-on-year increase compared to the previous financial year. Gross profit rose 27.4 percent to ₹64.1 crore, while gross margins improved significantly to 42.9 percent. Profit after tax stood at ₹31.3 crore with a PAT margin of 21 percent, reinforcing the company’s positioning as one of the most profitable players in the organised fashion jewellery market.
The fourth quarter of FY26 further highlighted accelerating business momentum. Revenue for the quarter surged 30.4 percent year-on-year to ₹29.6 crore, while gross profit increased by 54 percent. The company also reported strong EBITDA growth and expanding margins during the quarter, signalling continued growth momentum heading into FY27.
Over the last three years, PNGS Gargi has delivered extraordinary growth across key financial indicators. Revenue increased from ₹28.7 crore in FY23 to ₹149.4 crore in FY26, while PAT and EBITDA recorded strong compounded annual growth rates, reflecting the scalability of the company’s asset-light retail model.
A major highlight of FY26 was the expansion of the company’s retail network to 126 touchpoints across 21 states and 65 cities. The network currently includes Exclusive Brand Outlets, Shop-in-Shop locations with P. N. Gadgil & Sons Ltd., and partnerships with retail chains including Shoppers Stop. The company added 32 new points of sale during FY26, including 18 in the final quarter alone, while maintaining zero store closures since inception.
The company also witnessed strong growth outside Maharashtra, with non-Maharashtra revenue more than doubling year-on-year, reflecting its successful transition into a pan-India jewellery brand. Expansion into South India has already begun with operations launched in Hyderabad, while Bengaluru is expected to be the next key market.
Commenting on the performance, Aditya Amit Modak said FY26 marked a defining year in the company’s growth journey, highlighting its ability to combine profitability, expansion, and operational discipline within a debt-free and asset-light framework.
The company also continued its partnership with actress Mithila Palkar as brand ambassador while expanding its premium jewellery offerings under the ‘Utsaav’ sub-brand. Diamond jewellery contributed 34 percent of total FY26 revenue, underlining the company’s growing focus on premiumisation.
With plans to add more than 20 new retail touchpoints annually and target a revenue CAGR of nearly 35 percent, PNGS Gargi is positioning itself aggressively to capitalise on the rapid formalisation and expansion of India’s organised fashion jewellery market.
