[GUEST ACCESS MODE: Data is scrambled or limited to provide examples. Make requests using your API key to unlock full data. Check https://lunarcrush.ai/auth for authentication information.]  The Indian Investor [@Anvith_](/creator/twitter/Anvith_) on x 19.2K followers Created: 2025-07-15 17:53:51 UTC 🥇 PN Gadgil Jewellers (PNGJL): A 190-Year Legacy Entering Hypergrowth Mode From Maharashtra’s heartland to India-wide 🇮🇳 ambition, PNGJL is blending legacy with strategy to emerge as a serious contender in India’s formalising jewellery market. Here’s why investors should watch this space 🧵👇 1️⃣ Legacy-Backed Brand with Deep Trust ▪️ Founded in 1832 - among India’s oldest jewellers ▪️ Led by 6th-gen promoter Saurabh Gadgil ▪️ Decades-long partnerships with religious institutions build unmatched credibility in Maharashtra & Goa ▪️ Offers gold, silver, diamond, platinum across price points - from wedding to everyday wear ➡️ Trusted legacy + wide portfolio = strong moat in core markets 2️⃣ Rapid Expansion: Beyond the Comfort Zone ▪️ XX stores operational by March 2025 across urban + rural Maharashtra & Goa ▪️ FY26 target: 20–25 new stores ▪️ Q2FY26: 7–9 stores planned ▪️ Expanding into Uttar Pradesh, Madhya Pradesh, Bihar - using an asset-light franchisee model ➡️ Deep market research + low-risk format = smart geographic growth 3️⃣ Betting Big on Lightweight Jewellery ▪️ In 2023, launched 'Litestyle by PNG' - a sub-brand focused on everyday wear for 25–35 yr olds ▪️ Products in 18–22 carat gold & diamonds, priced ~₹50,000 ▪️ FY26 plan: 12–13 more Litestyle stores ▪️ Smaller XXXXX sq ft format optimised for urban retail ➡️ Tapping into younger, aspirational buyers amid rising gold prices 4️⃣ Margin Uplift Strategy Kicking In ▪️ Fully exited low-margin bullion refining by Oct 2024 - FY26 is first clean year ▪️ Sharpened focus on high-margin studded jewellery: Polki, Kundan, coloured gemstones ▪️ XX stores opened in last X years - expected to hit maturity curve in FY26–27 ➡️ Store-level breakeven + richer product mix = margin kicker incoming 5️⃣ Regulatory Tailwinds Working in Favour ▪️ July 2024: Gold customs duty slashed from XX% to X% - narrowed price gap with unorganised ▪️ Phased rollout of mandatory hallmarking builds consumer trust in formal players ▪️ Organised players offer superior store experience, design innovation, and omnichannel presence ➡️ Industry structure tilting in favour of branded jewellers like PNGJL 6️⃣ Valuation & Fundraising Angle ▪️ Plans to raise ₹1,000 Cr by March 2027 to meet SEBI’s minimum public shareholding norms (83% promoter holding → 75%) ▪️ Near-term RoE/RoCE may look optically lower due to equity dilution ▪️ If fundraise delayed beyond March 2027, profitability ratios look much stronger ➡️ Valuation remains comparable to peers despite temporary optics 7️⃣ Why PNGJL is a Cleaner Bet vs Senco Gold ▪️ Senco faces Street concerns due to proposed acquisition of loss-making brand Melorra (lightweight diamond D2C) ▪️ While Senco trades at a discount, PNGJL has better earnings visibility, cleaner balance sheet, and tighter focus ➡️ PNGJL = core jewellery play without dilution of focus 🚫 No Buy/Sell Recommendation. DYODD. #PNGadgil #PNGJL #Senco #Titan #KalyanJewellers  XXXXXX engagements  **Related Topics** [dip](/topic/dip) [jewellery](/topic/jewellery) [heartland](/topic/heartland) [investment](/topic/investment) [Post Link](https://x.com/Anvith_/status/1945180021720551566)
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The Indian Investor @Anvith_ on x 19.2K followers
Created: 2025-07-15 17:53:51 UTC
🥇 PN Gadgil Jewellers (PNGJL): A 190-Year Legacy Entering Hypergrowth Mode
From Maharashtra’s heartland to India-wide 🇮🇳 ambition, PNGJL is blending legacy with strategy to emerge as a serious contender in India’s formalising jewellery market.
Here’s why investors should watch this space 🧵👇
1️⃣ Legacy-Backed Brand with Deep Trust
▪️ Founded in 1832 - among India’s oldest jewellers ▪️ Led by 6th-gen promoter Saurabh Gadgil ▪️ Decades-long partnerships with religious institutions build unmatched credibility in Maharashtra & Goa ▪️ Offers gold, silver, diamond, platinum across price points - from wedding to everyday wear
➡️ Trusted legacy + wide portfolio = strong moat in core markets
2️⃣ Rapid Expansion: Beyond the Comfort Zone
▪️ XX stores operational by March 2025 across urban + rural Maharashtra & Goa ▪️ FY26 target: 20–25 new stores ▪️ Q2FY26: 7–9 stores planned ▪️ Expanding into Uttar Pradesh, Madhya Pradesh, Bihar - using an asset-light franchisee model
➡️ Deep market research + low-risk format = smart geographic growth
3️⃣ Betting Big on Lightweight Jewellery
▪️ In 2023, launched 'Litestyle by PNG' - a sub-brand focused on everyday wear for 25–35 yr olds ▪️ Products in 18–22 carat gold & diamonds, priced ~₹50,000 ▪️ FY26 plan: 12–13 more Litestyle stores ▪️ Smaller XXXXX sq ft format optimised for urban retail
➡️ Tapping into younger, aspirational buyers amid rising gold prices
4️⃣ Margin Uplift Strategy Kicking In
▪️ Fully exited low-margin bullion refining by Oct 2024 - FY26 is first clean year ▪️ Sharpened focus on high-margin studded jewellery: Polki, Kundan, coloured gemstones ▪️ XX stores opened in last X years - expected to hit maturity curve in FY26–27
➡️ Store-level breakeven + richer product mix = margin kicker incoming
5️⃣ Regulatory Tailwinds Working in Favour
▪️ July 2024: Gold customs duty slashed from XX% to X% - narrowed price gap with unorganised ▪️ Phased rollout of mandatory hallmarking builds consumer trust in formal players ▪️ Organised players offer superior store experience, design innovation, and omnichannel presence
➡️ Industry structure tilting in favour of branded jewellers like PNGJL
6️⃣ Valuation & Fundraising Angle
▪️ Plans to raise ₹1,000 Cr by March 2027 to meet SEBI’s minimum public shareholding norms (83% promoter holding → 75%) ▪️ Near-term RoE/RoCE may look optically lower due to equity dilution ▪️ If fundraise delayed beyond March 2027, profitability ratios look much stronger
➡️ Valuation remains comparable to peers despite temporary optics
7️⃣ Why PNGJL is a Cleaner Bet vs Senco Gold
▪️ Senco faces Street concerns due to proposed acquisition of loss-making brand Melorra (lightweight diamond D2C) ▪️ While Senco trades at a discount, PNGJL has better earnings visibility, cleaner balance sheet, and tighter focus
➡️ PNGJL = core jewellery play without dilution of focus
🚫 No Buy/Sell Recommendation. DYODD.
#PNGadgil #PNGJL #Senco #Titan #KalyanJewellers
XXXXXX engagements
Related Topics dip jewellery heartland investment