Financial Performance

  • Reported robust revenue growth of 41% year-over-year (YoY) for Q1 FY27
  • Retail segment grew 56% YoY, contributing approximately 78% of total revenue
  • Same-store sales growth (SSSG) of 46% YoY drove retail performance
  • Franchise business grew 8% YoY
  • E-commerce business grew 20% YoY

Product Mix Analysis

  • Gold bullion sales normalized to ~22% of retail revenue, down from higher share in previous quarter
  • Studded jewelry mix improved with retail stud ratio rising to 10.9%
  • Diamond jewelry showed strong growth reflecting growing consumer preference
  • New stores in Northern and Central India contributing ~3.4% of retail sales with higher stud ratio

Operational Highlights

  • Total store count as of June 30, 2026: 78 stores (77 in India, 1 in USA)
  • Focus on strengthening existing network performance
  • Advanced site identification and franchise partner onboarding for upcoming launches
  • Building operational readiness for expansion pipeline execution

Expansion Plans & Outlook

  • Maintains previously stated Gross margin and EBITDA margin guidance for FY27
  • On track to open approximately 25 new stores during FY27
  • Target total store count: ~103 by end of FY27
  • Rollout phased across remaining three quarters of FY27
  • Expansion strategy includes franchise-led approach across Legacy and LiteStyle formats
  • Geographic expansion into Uttar Pradesh, Bihar, Central India and NCR region
  • Deepening presence in Maharashtra

Additional Information

  • Results subject to limited review by Statutory Auditors
  • Detailed information update to follow upon Board of Directors approval
  • Revenue figures represent revenue from sale of goods only
  • Company established in 1832 with 194 years of heritage
  • Operates sub-brand "Litestyle by PNG" for lightweight jewellery