P N Gadgil Jewellers has witnessed a significant surge in its stock price following a record-breaking sales performance during Akshaya Tritiya. The company reported its highest-ever single-day festive sales of ₹139.53 crore, reflecting a strong 35% growth compared to the previous year’s ₹103.26 crore.
Gold Sales Soar on Akshaya Tritiya
The company revealed that it sold a total of 122 kg of gold during Akshaya Tritiya, marking a 1.46% increase in volume compared to 120.24 kg last year. Despite the rise in gold prices, which crossed ₹1 lakh per 10 grams in April 2025, Indian consumers continued their tradition of purchasing gold during this auspicious festival.
In terms of revenue, the gold segment grew by 34% year-over-year, while diamond and silver revenues increased by 23% and 114%, respectively. This indicates a broad-based demand for jewellery, not just limited to gold.
Impact of Gold Price Surge
Gold prices saw a dramatic rise in 2025, with global markets pushing prices to new highs. In April, gold prices hit a historic \$3,500 per troy ounce, contributing to a record rally in the yellow metal. The price hike was driven by continuous buying from central banks, as well as strong retail and investment demand.
The increase in gold prices has slightly moderated volume growth, but overall, the demand has remained robust. P N Gadgil’s ability to capitalize on this demand has reflected in its impressive sales numbers this Akshaya Tritiya.
Stock Performance: A Mixed Outlook
Following the release of its Akshaya Tritiya sales numbers, P N Gadgil Jewellers’ share price surged 7.2% in intraday trading on May 5, 2025, reaching ₹536 per share. However, the stock’s overall performance since its IPO in September 2024 has been somewhat volatile. Despite debuting at ₹830 per share, it has dropped by approximately 36% from its all-time high of ₹829 in December 2024.However, the stock couldn’t maintain its stellar run in the following months, impacted by a sharp correction in the broader market.
Currently, the stock is trading about 9.4% above its IPO price of ₹480, indicating moderate growth but still facing challenges from broader market corrections.
At current levels, the stock is trading 9.4% above its IPO price but is down 36.6% from its all-time high of ₹829, reached in December.
In the December quarter (Q3FY25), P N Gadgil Jewellers reported a 23.5% year-on-year (YoY) jump in consolidated revenue to ₹2,407 crore. Its EBITDA improved by 37.2% YoY to ₹120 crore, while margins expanded by 50 basis points to 5.3%. On the bottom line, net profit surged by 49.4% to ₹85 crore.
Gold and Jewellery: A Cultural and Financial Asset
Gold holds significant cultural and economic value in India, both as a store of wealth and as a symbol of prosperity. This cultural affinity, combined with its role as a financial hedge against inflation, continues to drive strong demand for jewellery. During festivals like Akshaya Tritiya, Indian households consistently invest in gold, making it a key driver of sales for companies like P N Gadgil Jewellers.
Conclusion: A Strong Performance Despite Market Fluctuations
The impressive sales figures from P N Gadgil Jewellers during Akshaya Tritiya highlight the continued strength of the Indian jewellery market, even amid rising gold prices. While the stock has experienced ups and downs since its IPO, the company’s solid festive sales performance suggests it remains well-positioned in the market.
If you’re considering investing in jewellery stocks, P N Gadgil Jewellers could be one to watch. However, it’s important to weigh its performance against broader market trends and the volatility of gold prices.
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