PNGS Reva Diamond Jewellery LimitedQuarter ended September 30, 2026 Results & Financial Update
PNGS Reva Diamond Jewellery Limited: Quarter ended September 30, 2026 standalone results and company financials – revenue ₹120.54 Cr, PAT ₹23.29 Cr. Explore reported YoY/QoQ movements, margins, business drivers and management commentary. This page does not provide a rating, target price or investment recommendation.
Quarter at a glanceReported figures and period changes.Changes compare like-for-like reported periods where available.
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Quarterly Results AnalysisExplore PNGS Reva Diamond Jewellery Quarter ended September 30, 2026 quarterly results and earnings: revenue, profit (PAT), EBITDA, margins, YoY and QoQ growth, order book or business updates where reported, financial performance and management commentary. Reported figures and Nivata calculations are shown separately; no buy, sell or hold recommendation is provided.
Quarter overview
Quarterly earnings analysis
PNGS Reva Diamond Jewellery Limited reported standalone revenue from operations of INR 120.541 crore for the quarter ended September 30, 2026, marking an increase compared to INR 102.969 crore in the corresponding quarter of the previous year and INR 117.973 crore in the preceding June 2026 quarter.
Total income for the quarter reached INR 125.784 crore, supported by INR 5.243 crore in other income, compared to INR 103.081 crore in the year-ago period.
Profit before tax (PBT) for the quarter stood at INR 31.027 crore, reflecting growth over the INR 16.975 crore recorded in the quarter ended September 30, 2025, though easing from INR 36.398 crore in the preceding quarter.
Net profit after tax (PAT) for the reporting period came in at INR 23.294 crore, compared to INR 12.684 crore in the corresponding period of the previous fiscal year and INR 27.210 crore in the June 2026 quarter.
Basic and diluted earnings per share (EPS) for the quarter stood at INR 7.35, compared to INR 5.80 in the September 2025 quarter and INR 8.58 in the previous quarter ended June 30, 2026.
The company evaluated its performance as a single operating segment under Ind AS 108 'Operating Segments', reflecting unified resource allocation by the Chief Operating Decision Maker (CODM).
01 · Business model
What does PNGS Reva Diamond Jewellery do?
PNGS Reva Diamond Jewellery Limited, formerly known as Gadgil Metals & Commodities, is engaged in the business of trading diamond jewellery, platinum jewellery, and other precious stones under its flagship brand 'Reva'.
The company distributes its products primarily through a store-in-store (SIS) network alongside exclusive brand stores, operating out of Pune, Maharashtra.
The economic and operating model centers on asset-light retail expansion and inventory management of precious ornaments, supported by customer gold exchanges where old gold is accepted as partial consideration for new diamond jewellery purchases.
02 · Historical context
What shaped the business before this quarter
During the financial year ended March 31, 2026, the company completed its Initial Public Offering (IPO), raising capital for store expansion, marketing, and general corporate purposes.
The company expanded its retail presence from 34 SIS stores with P. N. Gadgil & Sons Limited and 2 exclusive brand stores as of March 31, 2026, to 34 SIS stores and 5 exclusive brand stores by October 26, 2026.
03 · Financial snapshot
Current quarter vs the two useful baselines
| Metric | Quarter ended September 30, 2026 | Year-ago | Previous quarter |
|---|---|---|---|
| Revenue from operations | ₹120.54 Cr | ₹102.97 Cr | ₹117.97 Cr |
| Total income | ₹125.78 Cr | ₹103.08 Cr | ₹123.55 Cr |
| Profit before tax | ₹31.03 Cr | ₹16.98 Cr | ₹36.40 Cr |
| Profit after tax | ₹23.29 Cr | ₹12.68 Cr | ₹27.21 Cr |
| EPS | ₹7.35 | ₹5.80 | ₹8.58 |
Financial interpretation
What the reported numbers mean
Profit after tax represented 19.3% of reported quarterly operating revenue. This is a calculated net-profit-to-sales ratio, not a company-reported operating margin. It measures the outcome after expenses and tax; it does not, by itself, establish how margins changed versus another period.
Profit before tax was equivalent to 25.7% of quarterly operating revenue. The distinction between pre-tax and post-tax profit matters when interpreting earnings; neither ratio identifies an underlying cost driver without a properly matched comparative period.
Total income exceeded operating revenue by ₹5.24 crore. This is the disclosed difference between the two lines, not incremental sales. The distinction matters when assessing how much of the quarter’s reported income came from the operating top line.
Ratios above are calculated from the reported quarterly figures. They are analytical descriptions, not company-reported margin guidance or an investment recommendation.
04 · Why it moved
Why the quarter looked the way it did
What drove revenue
Revenue from operations entirely comprised the sale of diamond-studded jewellery including precious stones, amounting to INR 120.541 crore for the quarter.
Unlike the year-ago quarter, which included INR 20.550 crore of incidental gold sales from excess customer exchange gold, the September 2026 quarter recorded zero standalone gold sales.
What drove margins
Purchases of stock-in-trade stood at INR 177.490 crore, offset by a positive change in inventories of finished goods amounting to INR 94.381 crore during the quarter.
Employee benefits expense was INR 2.232 crore, finance costs stood at INR 2.497 crore, depreciation and amortization was INR 0.433 crore, and other expenses totaled INR 6.486 crore.
05 · Demand, customers & order book
Where demand is coming from
There is no single customer or customer group accounting for more than 10% of the total revenue of the company.
06 · Segments, products & geography
Which parts of the business are doing the work
Segments and products
The Chief Operating Decision Maker evaluates performance and allocates resources on a single-unit basis, with no reportable segments under Ind AS 108.
Geography and market mix
The company operates exclusively within India, with no separate reportable geographic segments.
07 · Capacity, projects & execution
What is being built, commissioned or delivered
Projects, capex and execution
Out of the IPO proceeds earmarked for setting up 15 new stores (total allocation INR 286.564 crore), INR 41.253 crore was utilized up to September 30, 2026, leaving an unutilized balance of INR 245.311 crore.
Out of INR 35.400 crore allocated for marketing and promotional expenses for the 15 new stores, INR 0.659 crore was utilized up to September 30, 2026, leaving INR 34.741 crore unutilized.
08 · Reported developments
What changed operationally
Standalone revenue from operations grew to INR 120.541 crore from INR 102.969 crore in the corresponding quarter of the previous year.
Exclusive brand stores increased from 2 as of March 31, 2026, to 5 as of October 26, 2026, alongside 34 SIS stores.
09 · Cash flow & balance sheet
Profit is one thing. Cash and funding tell another part of the story.
Unutilized IPO proceeds as of September 30, 2026, were temporarily retained in fixed deposits and monitoring accounts.
Capital allocation & funding
As of September 30, 2026, current borrowings stood at INR 127.836 crore, while non-current and current lease liabilities stood at INR 5.267 crore and INR 1.705 crore respectively.
10 · Beyond the numbers
What changed beyond the numbers
Reported update
Statutory Auditor Review
The unaudited standalone financial results for the quarter ended September 30, 2026, were reviewed by statutory auditors MSKA & Associates LLP, who issued an unmodified review conclusion.
Reported update
Advance Tax Payment
For the tax year 2026-27, the company paid advance tax aggregating to INR 10.00 crore up to October 26, 2026.
11 · Previous-quarter changes
What changed since the previous quarter
Revenue from operations moved from INR 117.973 crore in Q1 FY27 to INR 120.541 crore in Q2 FY27, while PAT moved from INR 27.210 crore to INR 23.294 crore.
12 · Key Q&A
The quarter, answered directly
What does PNGS Reva Diamond Jewellery do?
PNGS Reva Diamond Jewellery Limited, formerly known as Gadgil Metals & Commodities, is engaged in the business of trading diamond jewellery, platinum jewellery, and other precious stones under its flagship brand 'Reva'.
What is the clearest takeaway from Quarter ended September 30, 2026?
PNGS Reva Diamond Jewellery Limited reported standalone revenue from operations of INR 120.541 crore for the quarter ended September 30, 2026, marking an increase compared to INR 102.969 crore in the corresponding quarter of the previous year and INR 117.973 crore in the preceding June 2026 quarter.
What drove revenue or demand?
Revenue from operations entirely comprised the sale of diamond-studded jewellery including precious stones, amounting to INR 120.541 crore for the quarter.
What mattered most for margins or profitability?
Purchases of stock-in-trade stood at INR 177.490 crore, offset by a positive change in inventories of finished goods amounting to INR 94.381 crore during the quarter.
What changed operationally beyond the headline numbers?
Out of the IPO proceeds earmarked for setting up 15 new stores (total allocation INR 286.564 crore), INR 41.253 crore was utilized up to September 30, 2026, leaving an unutilized balance of INR 245.311 crore.
What should the next disclosure help confirm?
Further utilization of the remaining INR 283.60 crore of net IPO proceeds allocated for new store setup, marketing, and general corporate purposes.
13 · Scenario calculator
Earnings sensitivity: what if growth and margins change?
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14 · Next filing checkpoints
What the next disclosure can confirm or change
- 01
Deployment of IPO Proceeds: Further utilization of the remaining INR 283.60 crore of net IPO proceeds allocated for new store setup, marketing, and general corporate purposes.
- 02
Store Network Scaling: Execution of the planned roll-out of the remaining stores under the store expansion program.
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Use Nivata’s plain-English guides to understand the accounting terms used in this brief before interpreting them.