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2025-07-15 11:53:08 am | Source: Motilal Oswal Financial Services Ltd
Buy PN Gadgil Ltd For Target Rs. 825 by Motilal Oswal Financial Services Ltd
Buy PN Gadgil Ltd For Target Rs. 825 by Motilal Oswal Financial Services Ltd

* We expect retail revenue to grow 35% YoY. However, reported revenue growth will be limited to 5% due to the discontinuation of HO bullion sales.

* Gross profit margin is projected to expand 170bp YoY to 10%, driven by the cessation of bullion transfers being reported as sales and an improving mix from higher studded jewelry contribution.

* Finance costs will stabilize to some extent as the GML rate has reduced to 4%.

* We expect five store additions, bringing the total store count to 58.

 

 

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