Retailer says elevated gold prices are pushing consumers towards affordable branded jewellery, while exclusive brand outlets continue to drive sales growth
PNGS Gargi Fashion Jewellery reported an 11.6 per cent year-on-year increase in revenue from operations to Rs 30.48 crore in the quarter ended 30 June 2026 (Q1 FY27), as sustained consumer demand and an expanding retail footprint supported growth despite a seasonally weak quarter.
The company said persistently high gold prices are encouraging consumers to shift towards affordable and branded jewellery, a trend it expects to continue through the festive and wedding seasons in the second half of FY27. Revenue from operations stood at Rs 30.48 crore, compared with Rs 27.30 crore in the corresponding quarter last year. The figures are subject to a limited review by the company’s statutory auditors.
Sales during Akshaya Tritiya rose 77.4 per cent year on year to around Rs 2.37 crore, from Rs 1.33 crore in the year-ago period, reflecting strong festive demand.
The retailer also continued to increase the contribution of its exclusive brand outlets (EBOs) while reducing dependence on its shop-in-shop (SIS) format. Revenue from EBOs rose to around Rs 6.90 crore during the quarter, compared with Rs 2.41 crore a year earlier, as sales continued to shift towards the company’s owned retail network.
PNGS Gargi said it currently operates 135 points of sale across 60 cities and 19 states.
The company expects demand to strengthen in the second half of FY27, supported by the festive season, wedding purchases and year-end celebrations. It added that rising consumer preference for branded jewellery and the continued shift towards organised retail are expected to support growth.
