PNGSREVA
PNGS Reva Diamond Jewellery share price & financials
- Price
- ₹398.1
- Market cap
- ₹1.6k Cr
- Sector
- Consumer Durables
- Calls analysed
- 3
PNGS Reva Diamond Jewellery Limited Q1 FY27
What went well
- Revenue from operations grew by 119.5% YoY to ₹118 crores, driven by higher volumes in diamond caratage.
- EBITDA increased by 192.88% YoY to ₹33.92 crores, with EBITDA margins expanding to 28.76%.
- PAT surged by 265% YoY to ₹27.21 crores, achieving PAT margins of 23.06%.
What to watch
- Anticipated 1-2% dent on full-year PAT margins due to increased marketing expenditure planned for Q2-Q4.
- Short-term debt of ₹120 crores remains outstanding, though expected to decrease sequentially.
What PNGS Reva Diamond Jewellery Limited does
PNGS Reva Diamond Jewellery Limited retails certified natural diamond jewellery under the Reva brand, operating through Shop-in-Shop (SIS) counters located inside P N Gadgil & Sons stores and standalone Company-Owned Company-Operated (COCO) outlets. It earns by selling diamond-studded jewellery - rings, earrings, bracelets, necklaces, mangalsutras, bangles and sets - spanning entry-level to premium price points, supported by a 100% exchange and roughly 90% cash buyback policy on natural diamonds. The company is part of the P N Gadgil & Sons Group, a 193-year-old Western India jewellery institution, and is extending its footprint from Shop-in-Shop counters into standalone Exclusive Brand Outlets (EBOs).
Segments
- Diamond Jewellery Retail
- Total Retail Stores
- 36
- Store Format Mix
- 34 Shop-in-Shop (SIS) counters within P N Gadgil & Sons stores plus 2 Company-Owned Company-Operated (COCO) stores
- Geographic Footprint
- 25 cities across Maharashtra, Gujarat & Karnataka (3 states)
- Permanent Employees
- 79
- Product Price Range
- Rs 15,000 entry-level to Rs 25 lakh+ premium/signature diamond jewellery
- Diamond Quality Standard
- VVS EF/FG grade natural diamonds, above typical industry norms
Guidance record · Q1 FY27
what the last two calls moved 16 tracked 2 delivered 1 missed 13 open- Same-Store Sales Growth (SSG) delivered said Q4 FY26 Promised: around 25% to 30% Q1 FY27: Management reported that SIS stores experienced almost 50% SSG in the quarter, significantly exceeding the guided range of 25-30%.
- EBITDA per EBO store went quiet said Q4 FY26 Promised: INR3.5-4 crores per store in 3-4 years Q1 FY27: This long-term target was not mentioned in the Q1 FY27 call. It is too early to assess progress.
- Number of COCO stores to open revised up said Q3 FY26 Promised: 15 COCO model stores in next 24 months Q1 FY27: The total 24-month expansion plan was revised up from 15 stores to 16 stores (9 in year 1, 7 in year 2). With a new store opened in Pune this quarter (2 total), the expanded plan is on track.
All 16 tracked — every revision, and every one management stopped mentioning.
Open the guidance ledgerQuarterly results
Q1 FY27: revenue up 118.5%, net profit up 285.7% against the same quarter last year.
| Line item | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|---|---|---|
| Revenue | 7 | 58 | 54 | 103 | 144 +1957% | 138 +138% | 118 +119% |
| EBITDA | 2 | 8 | 12 | 19 | 34 +1600% | 31 +288% | 34 +183% |
| Net profit | 2 | 5 | 7 | 13 | 23 +1050% | 21 +320% | 27 +286% |
How to read this
₹ crore, as filed. The percentage beside a figure is the change against the same quarter a year earlier — never the quarter before, which would make every seasonal business look like it collapses and booms each year.
Performance +24.5% YTD
YTD: ₹411.7 on 4 Mar 2026 → ₹512.7. High ₹620.75 (12 Aug 2026), low ₹331.8 (30 Mar 2026).
How the price took the results
close before → close after
- Q1 FY27
- +5.6%
- 29 Jul
- Q4 FY26
- +1.3%
- 11 May
- Q3 FY26
- −2.4%
- 13 Mar
The move from the last close before each results date to the first close after it — the market's first read on the quarter, not the quarter itself.
Financials, as filed
| Year ending | FY26 |
|---|---|
| Revenue | ₹439 Cr |
| Operating profit | ₹96 Cr |
| Operating margin | 21.9% |
| Interest | ₹10 Cr |
| Depreciation | ₹0 Cr |
| Net profit | ₹64 Cr |
| Net margin | 14.6% |
| Cash from operations | ₹-105 Cr |
| Free cash flow | ₹-107 Cr |
| ROCE | 22.0% |
How to read this
From the company's own filings. Margins are computed from the filed sums; a year with an incomplete quarter is left blank rather than estimated.
Balance sheet
| Year ending | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|
| Equity capital | ₹0 Cr | ₹0 Cr | ₹22 Cr | ₹32 Cr |
| Reserves | ₹-52 Cr | ₹-28 Cr | ₹98 Cr | ₹484 Cr |
| Borrowings | ₹0 Cr | ₹0 Cr | ₹133 Cr | ₹170 Cr |
| Other liabilities | ₹176 Cr | ₹187 Cr | ₹100 Cr | ₹30 Cr |
| Total liabilities | ₹124 Cr | ₹158 Cr | ₹353 Cr | ₹715 Cr |
| Fixed assets | ₹0 Cr | ₹0 Cr | ₹3 Cr | ₹6 Cr |
| Capital work in progress | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹0 Cr |
| Investments | ₹1 Cr | ₹1 Cr | ₹0 Cr | ₹0 Cr |
| Other assets | ₹122 Cr | ₹157 Cr | ₹349 Cr | ₹709 Cr |
| Total assets | ₹124 Cr | ₹158 Cr | ₹353 Cr | ₹715 Cr |
How to read this
As filed each year. A line the company does not report — deposits for a non-lender, for instance — is left out rather than shown as a row of dashes.
What the price assumes
- Growth the price implies
- 12.5% a year
- for 7 years, fading to 4%
- It has actually compounded at
- Not enough history
- The gap
- —
- between what it did and what it must do
All earnings calls (3)
Read the Q1 FY27 call →Learn to analyse PNGS Reva Diamond Jewellery Limited
Guides on how to read this kind of business and the numbers that matter.