PNGS Reva Diamond Jewellery Festive Sales Rise 35%

Festive period sales reached Rs 38.52 crore, representing a 35.01% YoY increase.
Dussehra non-gold sales climbed 62.40% to Rs 12.186 crore.

Reader Takeaway: Strong demand for studded jewellery is offsetting gold, but execution hinges on the successful COCO store shift.

What just happened

PNGS Reva Diamond Jewellery Ltd has released its festive performance data for the Navratri and Dussehra period of 2026. The company reported combined sales of Rs 38.527 crore. A standout metric was the non-gold jewellery segment, specifically for Dussehra, which saw sales surge to Rs 12.186 crore, a 62.40% improvement over the previous year.

Why this matters

The data signals a pivot in consumer behavior. Management reported a noticeable preference shift toward natural diamond and studded jewellery rather than traditional gold. This trend provides a growth runway for the company’s core business model. Additionally, the company is actively shifting its retail strategy toward a Company-Owned, Company-Operated (COCO) model to ensure greater control and brand consistency.

What changes now

The store network currently stands at 39 locations as of October 21, 2026. This includes 5 EBO/COCO stores and 34 Shop-in-Shop units. The recent opening of a new COCO store in Jaipur marks the latest step in this structural transition. Investors should watch how this model performs compared to the shop-in-shop approach, as it involves higher capital intensity but potentially better margins.

Risks to watch

While festive demand is robust, the company must manage the operational costs associated with moving from shop-in-shop setups to larger, standalone COCO stores. Scalability remains the primary execution risk as the footprint grows beyond its current base.

What to track next

Watch for the upcoming quarterly earnings report to see if this festive momentum translates into higher bottom-line profitability and how the new COCO stores impact the operating margin.