PNGS Gargi Fashion Jewellery Ltd reported a 16.21% year-on-year revenue growth for Q2 FY2026-27, reaching Rs 53.98 crore despite having no festive days during the quarter. The company continues its shift toward an Exclusive Brand Outlet (EBO) model, which now contributes 18.30% to total sales. With festive and wedding seasons ahead, management remains optimistic about sustaining growth through the second half of the fiscal year.
PNGS Gargi Fashion Jewellery Reports Steady Growth in Q2 FY27
Revenue from operations reached Rs 53.98 crore for Q2 FY27, compared to Rs 46.45 crore in Q2 FY26.
H1 FY27 revenue grew 14.15% to Rs 84.20 crore, compared to Rs 73.76 crore in H1 FY26.
Reader Takeaway: Strong revenue growth despite zero festive days in Q2; EBO retail model transition gaining significant traction.
What just happened
PNGS Gargi Fashion Jewellery Limited has released its operational performance report for the quarter and half-year ended September 30, 2026. The company successfully grew its top line by 16.21% during the second quarter. This growth is notable because the quarter contained zero festive days, which typically drive higher jewelry sales, compared to nine days of festive sales in the same period last year.
Business and Operations
The company is executing a strategic pivot toward an Exclusive Brand Outlet (EBO) retail model. This is designed to reduce dependence on the Shop-in-Shop (SIS) format. The effectiveness of this strategy is visible in the numbers, with EBO sales contribution rising to 18.30% in H1 FY27, up from 12.06% in H1 FY26. As of September 30, 2026, the company operates a network of 136 points of sale spread across 59 cities and 19 states.
Outlook
Management views the second quarter as a pre-festive planning phase. With the arrival of Dussehra, Diwali, and the upcoming wedding season in Q3 and Q4, the company expects demand to gain further momentum. The management team remains confident in the firm's trajectory for the remainder of FY27.
Context Metrics
- Q2 FY27 Revenue: Rs 53.98 crore
- H1 FY27 Revenue: Rs 84.20 crore
- Network Reach: 136 points of sale in 59 cities