Published: 10th Sep 2024
By: Value Research
P N Gadgil Jewellers is a jewellery retailer that offers gold, diamond, and platinum jewellery. It boasts eight distinct jewellery brands and operates 39 stores—majorly spread across Maharashtra in India—and one store in the US.
Total IPO size (Rs cr) 1100 Offer for sale (Rs cr) 250 Fresh issue (Rs cr) 850 Price band (Rs) 456 - 480 Subscription dates September 10-12, 2024 Purpose of issue Capital expenditure and repayment of debt obligations
6514 Net worth (Rs cr) 1384 Promoter holding (%) 83.1 Price/earnings ratio (P/E) 42.3 Price/book ratio (P/B) 4.7M-cap (Rs cr)
2Y growth (% pa) FY24 FY23 FY22 Revenue (Rs cr) 54.6 6111 4508 2556 EBIT (Rs cr) 58.3 223 101 89 PAT (Rs cr) 48.3 154 94 70 Net worth (Rs cr) 534 366 282 Total debt (Rs cr) 456 324 335Key financials
Ratios 3Y average (%) FY24 FY23 FY22 ROE (%) 30.4 34.3 28.9 28 ROCE (%) 23.9 27.3 23.6 20.8 EBIT margin (%) 3.1 3.6 2.2 3.5 Debt-to-equity 0.9 0.9 1.2
P N Gadgil Jewellers is the second-largest jewellery retailer in Maharashtra and holds a 17 per cent market share in India. Between FY22 and FY24, the company was the fastest-growing jewellery retailer in the organised market.
P N Gadgil Jewellers faces risks due to its geographic concentration. Additionally, competition is fierce in India’s fragmented jewellery market. For our in-depth risk report, click the link below: