P N Gadgil stock rallies over 7% as Akshaya Tritiya gold sales hit 122 kg

P N Gadgil Jewellers share price soared 7.2% in intraday trade on Monday, May 5, reaching ₹536 apiece after the company reported its highest-ever festive sales on the auspicious occasion of Akshaya Tritiya. The company, in an exchange filing on Saturday, informed investors that it recorded its highest-ever single-day festive sales of ₹139.53 crore on Akshaya Tritiya, reflecting a growth of approximately 35% over the previous year’s revenue of ₹103.26 crore.

In value terms, the gold segment revenue grew by 34% year-over-year, while diamond and silver revenues rose by 23% and 114%, respectively. From a volume perspective, the company said its gold sales jumped by 1.46%, reaching 122 kg compared to 120.24 kg in the previous year. Diamond and silver volumes surged by 31% and 90%, respectively.

P N Gadgil Jewellers’ share price debuted on Dalal Street in September 2024, listing at ₹830 apiece compared to the IPO price of ₹480. However, the stock couldn’t maintain its stellar run in the following months, impacted by a sharp correction in the broader market.

At current levels, the stock is trading 9.4% above its IPO price but is down 36.6% from it’s all-time high of ₹829, reached in December. In the December quarter (Q3FY25), P N Gadgil Jewellers reported a 23.5% year-on-year (YoY) jump in consolidated revenue to ₹2,407 crore. Its EBITDA improved by 37.2% YoY to ₹120 crore, while margins expanded by 50 basis points to 5.3%. On the bottom line, net profit surged by 49.4% to ₹85 crore.