PNG Jewellers reported a 41 per cent year-on-year increase in revenue for the first quarter of FY27, led by robust growth in its retail business and strong same-store sales performance.The company’s retail segment grew 56 per cent year-on-year, supported by a same-store sales growth (SSSG) of 46 per cent, reflecting strong organic demand from existing stores. Retail contributed nearly 78% of the company’s overall revenue during the quarter, increasing its share compared to the year-ago period.
The franchise business grew 8 per cent year-on-year, while the e-commerce business recorded 20 per cent growth during the quarter.
The company said the share of lower-margin gold bullion sales in retail revenue normalised to around 22 per cent, compared to a higher contribution in the previous quarter. The continued reduction in bullion sales, coupled with a rising contribution from studded jewellery, is expected to improve the overall quality of revenue.
Across product categories, the retailer witnessed strong demand, particularly for diamond jewellery. The retail stud ratio improved to 10.9% during the quarter, driven by increasing consumer preference for studded jewellery.
The company also noted that its recently launched stores across North and Central India, while contributing around 3.4 per cent of retail sales, are generating a higher stud ratio than its mature network in Maharashtra and Goa, supporting its expansion strategy into markets with stronger demand for studded jewellery.
As of June 30, 2026, PNG Jewellers operated 78 stores.
Looking ahead, the company said it remains on track to open around 25 new stores during FY27, taking its total store count to approximately 103 by the end of the fiscal year. The expansion will follow a franchise-led approach across both its legacy PNG Jewellers and LiteStyle formats, with a focus on Maharashtra while expanding into Uttar Pradesh, Bihar, Central India and the National Capital Region.
The company added that its first-quarter financial performance remains in line with its previously stated gross margin and EBITDA margin guidance for FY27.
