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All that glitters pays as P N Gadgil’s festive sparkle lifts Q3

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MUMBAI: It was a quarter where sparkle translated straight into sales. P N Gadgil Jewellers Limited delivered a glittering Q3 FY26, riding festive cheer, wedding demand and aggressive retail expansion to post robust year-on-year growth across key metrics.

Retail, the company’s crown jewel, grew 46 per cent year on year in Q3 FY26, contributing a dominant 83.2 per cent of total revenue. The surge was largely powered by a buoyant festive and wedding season, underscoring the brand’s strong pull during high-consumption periods.

Non-retail segments added their own shine. E-commerce revenues jumped a sharp 138 per cent compared to the same quarter last year, contributing 5.1 per cent to overall revenue, while franchisee operations grew 12 per cent year on year, accounting for 7.7 per cent of total revenue.

On a consolidated basis, revenue excluding the ‘other segment’ rose 46 per cent year on year to Rs 3,169 crore in Q3 FY26, up from Rs 2,176 crore a year ago. Total consolidated revenue stood at Rs 3,302 crore, compared to Rs 2,435 crore in Q3 FY25. The ‘other segment’, which primarily includes B2B bullion sales from the head office and corporate segment, contributed 4 per cent of total revenue during the quarter.

Festive sales were a clear highlight. Dussehra clocked revenues of Rs 190 crore, marking a strong 64 per cent year-on-year growth. Dhanteras delivered Rs 277 crore, the highest-ever single-day festive sale for the company. Overall Diwali sales aggregated to Rs 606 crore, up a robust 74 per cent year on year. October 2025 emerged as the company’s highest-ever revenue month at Rs 1,807 crore, a 72 per cent jump over last year.

The product mix also continued to evolve. Studded jewellery sales for the nine months ended FY26 rose 52 per cent year on year, taking the stud ratio to 8.4 per cent. Same-store sales growth for the quarter came in at a healthy 32 per cent, reflecting sustained demand across mature outlets.

On the expansion front, the company added three exclusive company-owned outlets during the quarter, taking the total store count to 66 as of December 31, 2025. Looking ahead, P N Gadgil Jewellers plans to open 12 to 14 new stores in Q4 FY26 through a mix of company-owned and franchisee-operated formats, targeting 78 to 80 stores by the end of the financial year.

With festive momentum, digital acceleration and an expanding footprint, the jeweller appears well set to keep its growth story shining into the final quarter of FY26.

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Delhivery chairman Deepak Kapoor, independent director Saugata Gupta quit board

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Gurugram: Delhivery’s boardroom is being reset. Deepak Kapoor, chairman and independent director, has resigned with effect from April 1 as part of a planned board reconstitution, the logistics company said in an exchange filing. Saugata Gupta, managing director and chief executive of FMCG major Marico and an independent director on Delhivery’s board, has also stepped down.

Kapoor exits after an eight-year stint that included steering the company through its 2022 stock-market debut, a period that saw Delhivery transform from a venture-backed upstart into one of India’s most visible logistics platforms. Gupta, who joined the board in 2021, departs alongside him, marking a simultaneous clearing of two senior independent seats.

“Deepak and Saugata have been instrumental in our process of recognising the need for and enabling the reconstitution of the board of directors in line with our ambitious next phase of growth,” said Sahil Barua, managing director and chief executive, Delhivery. The statement frames the exits less as departures and more as deliberate succession, a boardroom shuffle timed to the company’s evolving scale and strategy.

The resignations arrive amid broader governance recalibration. In 2025, Delhivery appointed Emcure Pharmaceuticals whole-time director Namita Thapar, PB Fintech founder and chairman Yashish Dahiya, and IIM Bangalore faculty member Padmini Srinivasan as independent directors, signalling a tilt towards consumer, fintech and academic expertise at the board level.

Kapoor’s tenure spanned Delhivery’s most defining years, rapid network expansion, public listing and the push towards profitability in a bruising logistics market. Gupta’s presence brought FMCG and brand-scale perspective during a period when ecommerce volumes and last-mile delivery economics were being rewritten.

The twin exits, effective from the new financial year, underscore a familiar corporate rhythm: founders consolidate, veterans rotate out, and fresh voices are ushered in to script the next chapter. In India’s hyper-competitive logistics race, even the boardroom does not stand still.

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Brnd.me enters Europe as haircare brands power global expansion

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Bengaluru:  Brnd.me, the global consumer brands company formerly known as Mensa Brands, has entered the European market following strong momentum across the Middle East, the United States and Canada.

The company has launched across the UK, Germany, France and Spain, with plans to expand into Italy, the Netherlands and Poland over the next year. The push is being led by its haircare and aromatherapy brands, Botanic Hearth and Majestic Pure, marking Brnd.me’s first structured expansion into Europe.

The European beauty market represents a total addressable opportunity of over $4 billion across haircare and aromatherapy, supported by high digital adoption and demand for accessible, performance-led products.

Brnd.me’s hair care and aromatherapy business currently operates at an annual run rate of around $6 million, with Botanic Hearth and Majestic Pure delivering roughly 10 per cent month-on-month growth, driven by expansion and rising repeat demand.

To support regional growth, the company has appointed a general manager based in Germany and is evaluating investments in warehousing and local team expansion.

Early traction has been strong. Within weeks of launch, Botanic Hearth’s rosemary hair oil ranked among the top five hair oils in Germany, signalling strong consumer pull in a competitive market.

Brnd.me founder and chief executive officer Ananth Narayanan, said Europe represents the next phase of the company’s international strategy. He added that the European business is expected to scale to a $10 million annual run rate by the end of 2026, with long-term ambitions to reach $60 million over the next six years.

The company’s Europe strategy centres on digital-first distribution, repeat demand and TikTok-led discovery, alongside direct-to-consumer expansion to strengthen brand equity and margins.

The move also aligns with growing EU–India trade engagement, supporting long-term sourcing and cross-border supply chains.

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TechnoSport taps quick commerce with launch on Slikk’s 60-minute platform

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NATIONAL: TechnoSport has launched on Slikk, the ultra-fast fashion app offering 60-minute delivery, as the activewear brand accelerates its push into quick commerce to capture Gen Z and young millennial shoppers.

The debut brings more than 150 high-performance styles to Slikk’s platform, with an average selling price of Rs 450, expanding TechnoSport’s reach across over 80 pin codes.

The partnership follows strong momentum for TechnoSport across Q-commerce channels, where the brand has recorded around 60 per cent volume growth over the past six months. The company expects quick commerce to contribute nearly 20 per cent of its revenue in the coming years as hyperlocal delivery gains scale.

Slikk, which recently raised $3.2 million in seed funding led by Lightspeed, has rapidly gained popularity among youth consumers seeking speed, trend relevance and impulse-led shopping experiences.

Activewear remains one of Slikk’s fastest-growing categories, driven by shoppers increasingly treating fitness-led fashion as an everyday essential. The platform has reported a 30-fold year-on-year increase in items sold, reflecting rising demand for performance wear that blends comfort with style.

TechnoSport chief executive officer Puspen Maity, said the collaboration would help the brand engage more closely with young consumers whose fashion choices are shaped by instant needs and lifestyle aspirations. He added that rapid delivery bridges the gap between intent and purchase, allowing shoppers to access activewear exactly when they want it.

 

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