PNGS Reva Diamond Jewellery Limited, a branded certified natural diamond jewellery retailer backed by the 190+ year legacy of the P. N. Gadgil & Sons Group and with a strong presence across Western India, reported robust revenue growth for the fourth quarter ended March 31, 2026, reflecting sustained consumer demand and continued retail expansion momentum.
Revenue from Operations for Q4 FY26 stood at ₹1,382.14 million, registering a 139.07% year-on-year increase compared to ₹578.14 million in Q4 FY25. Excluding gold sales, revenue grew 96.90% year-on-year, indicating strong underlying growth in the Company’s core diamond jewellery segment. The above revenue numbers are subject to limited review by the Statutory Auditors of the Company.
The quarter’s revenue includes ₹243.81 million attributable to gold sales, arising from the disposal of excess gold received from customers as part consideration for diamond jewellery purchases.
Operationally, the quarter was supported by strong festive and occasion-led demand. Sales during Gudhi Padwa increased to approximately ₹70 million from ₹20 million in the previous year, marking a 2.5x year-on-year rise. Valentine’s Day also witnessed encouraging traction, contributing meaningfully to overall quarterly performance.
Retail expansion continued to act as a key growth driver. During March 2026, the Company added one Company-Owned Company-Operated (COCO) store and one Shop-in-Shop (SIS) outlet, taking the total store count to 36 as of March 31, 2026, comprising 2 COCO stores and 34 SIS stores, compared to 33 SIS stores a year earlier. The calibrated shift toward a COCO-led format is aimed at enhancing operating leverage and strengthening long-term scalability.
Commenting on the performance, Mr. Amit Modak, CEO & Whole-Time Director, PNGS Reva Diamond Jewellery Limited, said:
“Our Q4 performance reflects the structural shift we are witnessing in consumer preference toward branded and certified natural diamond jewellery. Beyond the numbers, what is encouraging is the increasing depth of customer engagement and repeat purchases across formats. As we expand our COCO footprint and strengthen our presence in high-potential markets, our focus remains on building a scalable retail platform with strong inventory discipline and consistent brand experience.”
Looking ahead, PNGS Reva plans to roll out approximately 15 COCO stores over the next 24 months from the IPO date, supported by IPO proceeds allocated towards store capex, inventory and brand-building initiatives. Out of which, 1 store has already been established in March 2026. In parallel, the Company will continue to benefit from SIS placements within new stores opened by promoter group entities, enabling capital-efficient expansion alongside exclusive brand outlet growth.
Management remains focused on executing a disciplined expansion strategy across Maharashtra and select high-growth pan-India markets, particularly in high-footfall retail locations. Backed by the 190+ year heritage and credibility of the P. N. Gadgil & Sons Group, PNGS Reva Diamond Jewellery Limited is well positioned to sustain growth momentum in the organized diamond jewellery segment.
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