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October 9, 2025PN Gadgil Q2 Update: E-commerce segment grows over 100%
E-commerce drove the non-retail segment as it increased 113.2% in the September quarter in comparison to the previous year. It contributed 6.6% to the total revenue, the company said in its provisional update. Franchisee operations surged 105%, accounting for 15.6% of the total revenue, it said. Meanwhile, the other segment accounted for 5.6% of the total revenue in the second quarter.
The company reported a total revenue of ₹2,173.3 crore, excluding the refinery segment, which witnessed a 31% growth compared to the same period last year. Its refinery business was discontinued as of October 1, 2024, and it had contributed ₹343.5 crore in the second quarter of last year.
During the quarter, it launched 8 exclusive showrooms – 5 company-owned outlets (COCO) and 3 franchise outlets (FOCO) – taking the total store count to 63. It also entered the Indore, Kanpur, Lucknow markets and launched its flagship store in Dadar, Mumbai. For the second half of FY26, the company plans to launch 13-15 new stores, getting it closer to its target of 76-78 stores by the fiscal-end. Last week, PN Gadgil said it registered 65% year-on-year growth
