PNG Jewellers Q2 FY27 Revenue Up 22.4% YoY, Retail SSSG 25.5%

P N Gadgil Jewellers reported a healthy Q2 FY27 performance with revenue growth of 22.4% YoY, despite the Navratri festive period shifting to Q3. The Retail segment was a primary driver, growing 31.1% YoY with robust same-store sales growth (SSSG) of 25.5% YoY, contributing 77.3% of total revenue. The franchise business grew 34.7% YoY, while E-commerce declined 83.6% YoY due to a strategic recalibration towards higher-margin jewellery products. The share of gold coin & bar sales in retail normalized to ~15.8%. Rakhi Sales saw strong growth of 142% in value. Gold revenue grew 23.5%, diamond 21.0%, and silver 12.0% YoY. The retail stud ratio improved to 11.8%, and old gold exchange increased to 38%. The company rebranded LiteStyle to YOOU and opened 2 new stores, bringing the total to 80. It plans to open ~23 new stores in FY27, reaching ~103 by year-end, focusing on franchise-led expansion.