PNGS Gargi Fashion Jewellery Ltd (Gargi) reported a strong first quarter for FY26, with sales rising 20.4% to Rs 27.31 crore for the quarter ended June 2025. Net profit climbed 29.3% to Rs 5.31 crore, up from Rs 4.11 crore in the previous quarter, driven by operational efficiency, cost optimisation, and value-led growth initiatives.
The company attributed its performance to a strategic shift from a Franchisee-Operated-Company-Owned (FOCO) to a Franchisee-Owned-Franchisee-Operated (FOFO) model for Shop-in-Shop (SIS) outlets operated by P. N. Gadgil & Sons Ltd from April 1, 2024.
Gargi’s retail presence now spans 98 touchpoints, including 33 SIS locations with P. N. Gadgil & Sons, 51 SIS stores with other partners, and 14 exclusive brand outlets. Its portfolio features over 15,000 SKUs catering to diverse price points and occasions.
The company remains debt-free and plans to raise funds through a preferential issue of 90,000 equity shares to the promoter and 22,500 equity shares to non-promoter investors at Rs 970 per share. Proceeds will support retail expansion, product development, marketing, and digital infrastructure.
Aditya Modak, Co-founder and CEO of PNGS Gargi Fashion Jewellery, said, “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.”
The recent Monsoon Offer campaign (July 1–20, 2025) saw a 35% year-on-year increase in customer response, highlighting the brand’s growing engagement. With the festive season ahead, Gargi aims to expand its market presence, introduce new designs, strengthen its digital capabilities, and maintain operational excellence.
