PN Gadgil Jewellers' IPO: A glittering prospect?

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₹1,100 crore. The price band has been set at ₹456 to ₹480 apiece, with a fresh issue component of up to ₹850 crore, which will be used to fuel expansion in Maharashtra and reduce debt. With a robust brand and a multichannel approach, PNG is well-positioned to capitalize on India's growing appetite for jewellery.

However, market analysts urge caution, pointing out that the sector carries inherent risks, especially for new investors. An analysis of key financial metrics among leading jewellery retailers reveals that PNG has outperformed its competitors across several critical performance indicators. Between FY22 and FY24, the company reported a remarkable compound annual growth rate (CAGR) of 54.6% in revenue and 39.8% in operating profit (Ebitda).

This growth significantly surpasses industry heavyweights like Kalyan Jewellers, Senco Gold, and Thangamayil Jewellery, underscoring PNG’s ability to capture market share and propel sales growth. Read this | Are India’s top 3 jewellery stocks breaking out? These charts hold a clue. Revenue per store is another area where PNG excels. At ₹169.7 crore per store, PNG’s sales are far higher than Kalyan Jewellers ( ₹77.3 crore), Senco Gold ( ₹33 crore), and Thangamayil Jewellery ( ₹63.8 crore).