What we do PNGS Gargi Fashion Jewellery Ltd retails costume and fashion jewellery under brands like Gargi by P. N. Gadgil & Sons and Utsaav, offering diverse designs for all occasions. |
Founded in 2,009 |
Market share Established presence with 33 franchise stores, 50 shop-in-shop outlets, and 14 exclusive stores across India, expanding rapidly in fashion jewellery segment. |
Problem solved Provides affordable, trendy costume and fashion jewellery catering to diverse customer tastes for daily wear and special occasions. |
Top clients or who we serve Serves B2C customers nationwide through franchises, exclusive stores, and online-offline retail model targeting all age groups and genders. |
Key management - |
Our journey and innovations Transitioned from consultancy to fashion jewellery retail in 2021, launched diamond-studded gold collection in 2023, and bridal line Utsaav in 2025. |
Where we operate Primarily operates across Maharashtra, Gujarat, Karnataka, and expanding pan-India through growing retail network. |
Top products or what we offer Offers earrings, necklaces, rings, bangles, and male accessories in silver, brass, and 14 Carat gold with diamond embellishments. |
Top brands Gargi by P. N. Gadgil & Sons – leading costume jewellery brand; Utsaav – bridal costume jewellery; 14 Carat gold with diamond collection. |
Raw materials needed Sterling silver, brass, copper, and 14 Carat gold with diamond components sourced from multiple vendors across India. |
Raw materials supplier Third-party manufacturers and artisan networks across India; in-house designers collaborate with local craftsmen for exclusive designs. |
Recurring vs cyclical contribution Revenue largely driven by retail sales with cyclical spikes during festivals and wedding seasons. |
Our industry position Growing presence with a strong retail footprint and expanding product portfolio in the competitive fashion jewellery market. |
Financial highlights Revenue grew to Rs. 126.35 crore with net profit of Rs. 28.81 crore in FY 2024-25, evidencing robust growth and profitability. |
Geographical revenue split Major revenue from Maharashtra, Gujarat, Karnataka with increasing contributions from other Indian states via franchise expansion. |
Order book - |
Whats driving growth Expansion of retail footprint, new product launches including bridal and gold-studded jewellery, and pan-India marketing campaigns. |
Our future plans Further expansion of franchise and exclusive stores, enhanced marketing, and new product segments to drive growth. |
Our green promise Committed to ethical sourcing and community empowerment with dedicated CSR initiatives. |
Our people and values Focus on skilled artisans, freelance designers, and a diverse workforce fostering innovation and customer-centric culture. |
Key challenges ahead Managing supplier diversification, scaling operations sustainably, and adapting to evolving consumer trends. |
Interesting facts Launched diamond-studded gold collection in 2023 and bridal costume jewellery brand Utsaav in 2025, marking key product innovations. |
Risks and strategy Mitigates supplier concentration risks via diverse sourcing; focuses on expanding retail presence and product innovation to stay competitive. |
