PNGS Gargi Fashion Jewellery Ltd. – Company Report
1. Company Overview
PNGS Gargi Fashion Jewellery Ltd., established in 2009 and headquartered in Pune and Mumbai, is a leading listed Indian designer and manufacturer of certified sterling silver, brass, and fashion jewellery. Operating under the “Gargi by P N Gadgil & Sons” brand, the company focuses on offering stylish, affordable, and high-quality jewellery for younger, aspirational customers across India and international markets. Gargi is ISO 9001:2015 certified, recognized for its innovation, quality standards, and customer-centricity. It sells through an omni-channel distribution model, including branded stores, SIS (Store-in-Store) counters, franchise outlets, and a strong online presence. Ongoing expansion into key Indian metros and regional markets reflects its ambition to capture growing demand for modern jewellery.
Key Highlights:
- Established: 2009
- Headquarters: Pune, Maharashtra, India
- Brand: Gargi by P N Gadgil & Sons
- Certifications: ISO 9001:2015
- Present in: 40+ cities, exporting to several countries
- Leadership: Chairman Govind Vishwanath Gadgil
2. Products and Services
PNGS Gargi Fashion Jewellery Ltd. offers a diverse portfolio of certified jewellery and gifting products:
Sterling Silver Jewellery: 92.5% certified silver jewellery including earrings, pendants, necklaces, rings, bracelets, anklets, mangalsutras, chains, and bangles
Brass and Copper Jewellery: Trendy and traditional collections for both festive and daily wear
Bridal & Occasion Collection: Premium bridal sets and occasion-specific themed collections
Men’s Accessories: Fashion rings, cufflinks, and other high-end accessories for men
Gift Items & Idols: Designer silverware, idols, and ceremonial gift items
Distribution Network:
- Franchise-owned brand stores
- SIS counters in large multi-brand retail jewellery chains
- FOCO (Franchise-Owned Company-Operated) outlets
- Dedicated e-commerce channels and third-party platforms
Customer Services: Custom design support, post-sale service, and product warranties on select items
3. Recent News and Financial Performance
Recent Developments:
- August 2025: Gargi by P.N. Gadgil & Sons, one of India’s fastest-growing fashion jewellery brands, has launched its official mobile application for Android and iOS platforms. The app, aimed at strengthening the brand’s omnichannel presence, generated sales of over Rs 1 lakh within just 10 days of going live.
- July 2025: Gargi announced a preferential issue of ₹429.98 million through private placement to promoters and public investors at ₹575 per share (₹10 face value + ₹565 premium). An EGM is scheduled on August 2, 2025, to seek shareholder approval for the proposed capital raise.
- June 2025: Gargi by P. N. Gadgil & Sons, one of India's fastest-growing fashion jewellery brands, has launched on Blinkit in Mumbai, marking a major step into the world of quick commerce. Following a successful pilot in Pune, the brand is now offering its popular under- Rs.1000 collection in India’s financial capital, delivering stylish and affordable jewellery in just minutes.
- March 2025: Fashion jewellery label Gargi by P N Gadgil & Sons has expanded its retail footprint with new store openings in malls in Aurangabad and Indore. The brand now operates 12 exclusive brand outlets nationwide, opened in under three years of its launch.
- February 2025: Jewellery brand Gargi by P N Gadgil & Sons has launched 'Utsaav' as a wedding focused sub-brand to introduce fusion style pieces to its bridal offering. The brand also launched an exclusive brand outlet in Gurgaon as it continues to expand its retail footprint across the country.
- January 2025: Gargi by P N Gadgil & Sons (PNGS), a distinguished name in the fashion jewellery realm, is ringing in the New Year with a promise of growth and accessibility by announcing the opening of two new franchise stores. Gargi has opened its seventh store in the vibrant Kapil Vihar, Pitampura, and its eighth store in the bustling Pimple Saudagar in Pune.
- June 2024: Gargi by P N Gadgil & Sons (PNGS), a distinguished name in the fashion jewellery realm, is thrilled to announce the completion of its 25th Shoppers Stop Store-In-Store (SIS) across India. The 25th Shop-in-Shop store opened on 17th June in Mohali, Punjab. In the week of June 10th to 16th, Gargi opened its S-I-S in Surat and Cyberabad in Telangana.
- February 2024: Fashion jewellery brand Gargi by P N Gadgil & Sons launched its new shop-in-shops (SIS) at the Shoppers Stop outlets in Latur and Hyderabad. It also has launched its second franchise outlet in Nashik as per a release shared by the company on Monday.
4. Financial Performance (FY2025)
| Metric | FY2025 Value |
|---|---|
| Revenue (Net Sales) | ₹126 crore |
| Net Profit | ₹28.8 crore |
| Operating Margin | ~30% |
| Net Profit Margin | 22% |
| EPS | ₹27.8 |
| ROE | 45% |
| Debt Status | Virtually debt-free |
| Dividend | No dividend (reinvesting profits) |