Synopsis: PNGS Gargi Fashion Jewellery surges on strong Q4 update with 30% revenue growth to Rs 29.55 crore, FY26 up 49% to Rs 149 crore, targeting 35% CAGR next 2 years via 20 new stores.
PNGS Gargi Fashion Jewellery is making headlines. The fashion jewellery retailer posted a sharp jump in quarterly revenue, sending its stock higher on Tuesday. PNGS Gargi Fashion Jewellery‘s Limited’s stock, with a market capitalisation of Rs. 872 crores, fell Rs. 833, down 1.34 percent from its previous closing price of Rs. 844.30. Furthermore, the stock over the past year has given a negative return of 9 percent.
The company’s revenue from operations jumped 30.27% to Rs 29.55 crore in Q4 FY26. This compares with Rs 22.68 crore in Q4 FY25. Investors responded quickly to the numbers.
The company opened 18 new stores in Q4 FY26 alone. Overall, it added 32 new stores across the full year FY26. This takes the total store count to 126 outlets as of March 31, 2026. Moreover, Gargi now operates across 65 cities and 21 states in India. The brand, Gargi by PN Gadgil & Sons, sells costume and fashion jewellery. Its growing footprint reflects rising consumer demand nationwide.
On an annual basis, the results look even stronger. Revenue from operations jumped 48.58% to Rs 149.47 crore in FY26. This is up from Rs 100.60 crore in FY25. Earlier, in Q3 FY26, the company posted a 15.97% rise in net profit to Rs 10.60 crore. Revenue in that quarter also rose 27.07% to Rs 46.05 crore. Therefore, growth has been consistent across quarters.
The company is not slowing down. Management targets a revenue CAGR of around 35% over the next two years. It plans to open 20 new stores in FY27. Additionally, strong same-store sales growth and industry tailwinds support the outlook. The organised jewellery segment remains significantly underpenetrated. As a result, Gargi sees a large runway for growth ahead.
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