PNGS Gargi Fashion Jewellery Ltd Sales Jump 20%, Net Profit at ₹5.31 Cr in Q1 FY26

PNGS Gargi Fashion Jewellery reports strong Q1FY26 results with a 20.4% sales increase to ₹27.31 crore and a 29.3% QoQ profit jump to ₹5.31 crore.

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Aditya Modak - Co-founder Gargi2

Aditya Modak - Co-founder Gargi

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PNGS Gargi Fashion Jewellery Ltd (Gargi), a major player in India's fashion jewellery market, has declared excellent financial results for the quarter ending June 2025. This is another step forward in its ongoing growth trajectory. The company made ₹27.31 crore in sales, which is a strong 20.4% increase. It also showed great operational efficiency and market penetration.

Strong Financial Performance Leads to Profitability

The quarter saw a huge increase in profits, with net profit rising 29.3% to ₹5.31 crore from ₹4.11 crore in the preceding quarter, which concluded in March 2025. This excellent achievement shows Gargi's strategy, which focuses on operational excellence, cost optimisation, and value-driven growth initiatives.

Exceptional Sales Success: The company's good financial results were largely due to its exceptional sales success after changing its strategic business plan. Starting on April 1, 2024, the Shop in Shop (SIS) sites run by P. N. Gadgil & Sons Limited (PNGS) switched from a Franchisee-Operated-Company-Owned (FOCO) model to a Franchisee-Owned-Franchisee-Operated (FOFO) model. This change in strategy has shown that the new business model structure worked.

Key Market Position and Growth Achievements

Gargi has become a major player in the fashion jewellery business thanks to several strategic successes:

Product Portfolio Excellence: The company has created a huge portfolio of more than 15,000 Stock Keeping Units (SKUs), giving consumers a wide range of design choices at different prices and for different situations. Gargi is becoming the go-to place for modern fashion jewellery because it has such a wide choice of products.


Market Growth: Gargi has carefully grown its retail presence in major cities, giving it a firm foundation in important markets. As of the results date, the company has a large retail network with 33 Shop in Shop (SIS) locations with P. N. Gadgil & Sons Limited, 51 SIS stores with other companies, and 14 unique brand stores. This adds up to 98 retail touchpoints. This varied retail strategy gives you more ways to reach customers and makes it easier to get into new markets.


Brand Recognition: Gargi has established itself as a trusted and preferred brand in inexpensive fashion jewellery by consistently delivering high-quality products and creating new designs. This has helped the company gain a large market share among style-conscious consumers.

Operational Efficiency: The company has shown that it can run its business more efficiently by keeping prices competitive and making healthy profits. This shows that it has great supply chain management and manufacturing skills.

Strategic vision and the path to future growth

Aditya Modak, Co-founder and CEO of PNGS Gargi Fashion Jewellery, said of the results, "We are happy to report another quarter of healthy growth in both revenue and profit." Being debt-free strengthens our financial base, and the proposed preferred issuance will let us grow our retail business faster and fund new product ideas. We are still dedicated to providing long-term value to our stakeholders while making Gargi a top choice for fashion jewellery.

Plans for Investments and Financial Strength

Gargi's lack of debt gives her a strong base for future expansion plans. The company's proposed preferential issue is deliberately designed to:

  • Speed up retail growth by opening new stores in markets with a lot of promise.

  • Invest in design skills and new product categories to help your business grow.

  • Improve the digital infrastructure and the way things are made. 

  • Optimising Working Capital, which helps meet the needs of more inventory for bigger enterprises

Market Opportunity and Growth Factors

The fashion jewellery market in India has a lot of room to develop because of:

  • More money to spend and changing lifestyle choices

  • More young people are starting to wear stylish jewellery.

  • More people are choosing luxury items that are not too expensive.

  • Increasing the number of structured retail stores

Gargi is in a good position to take advantage of these developments because it has a strong brand, a wide range of products, and plans for strategic growth.

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