Speaking to NDTV Profit, Chairperson and Managing Director Saurabh Vidyadhar Gadgil highlighted the company’s growth trajectory, noting that an increase in the price of natural diamonds has contributed to higher in-store sales. "We are well on our way to meeting our target, with sales per store showing consistent growth. The rise in diamond prices has bolstered revenue, ensuring steady progress," he stated.

Addressing the impact of lab-grown diamonds on the jewellery market, Gadgil clarified that customer preference at PN Gadgil Jewellers remains firmly in favour of natural diamonds. "We have seen no demand for lab-grown diamonds at any of our stores. Our clientele predominantly purchases diamonds in the 10-11 cent range, where synthetic alternatives have minimal presence," he explained.

He further elaborated that lab-grown diamonds tend to be more prominent in larger carat weights, typically above 30-40 pointers, where price differences can influence purchasing decisions. However, he emphasized that this has not affected their sales strategy or demand for natural diamonds.

The company reported strong financial performance in Q3 FY25, posting a net profit of Rs 86.03 crore, up from Rs 57.60 crore in the same period last year. Revenue from operations surged 23.51% year-on-year to Rs 2,435.75 crore, while EBITDA saw a 37.2% rise to Rs 129.77 crore. The EBITDA margin also expanded from 4.8% to 5.3%.

Reflecting on the results, Gadgil expressed satisfaction with the company’s performance, particularly given the high jewellery prices and market fluctuations in mid-2024. He also revealed that the company achieved a significant milestone in October 2024, surpassing Rs 1,000 crore in monthly revenue for the first time.

With steady demand and a strong market position, PN Gadgil Jewellers remains optimistic about continued growth in the luxury jewellery space.