PNGS Reva Diamond Jewellery Limited (PNGSREVA)

PNGS Reva Diamond Jewellery reported a 17% YoY increase in Q2 FY27 revenue from operations to ₹121 crore, with gross profit rising 50% YoY to ₹37 crore. EBITDA for the quarter stood at ₹29 crore (up 49% YoY, 23.8% margin), while PAT jumped 84% YoY to ₹23 crore. On an H1 FY27 basis, excluding scrap gold sales, jewellery sales grew 76% to ₹239 crore, driven by consumer demand shifting toward studded diamond jewellery. The company has reached 6 Exclusive Brand Outlets (EBOs) and plans to complete 15 stores, with currently over 95% of sales generated from Shop-in-Shop (SIS) formats.

• Q2 FY27 revenue from operations grew 17% YoY to ₹121 crore; H1 FY27 jewellery sales reached ₹239 crore (up 76% excluding gold sales)
• Q2 EBITDA increased 49% YoY to ₹29 crore, with EBITDA margin expanding to 23.8% from 18.7%
• Q2 PAT expanded 84% YoY to ₹23 crore with gross margin improving to 31.1% from 24.2%
• Store network expanded to 6 EBOs (including first outside Maharashtra in Jaipur), targeting 15 stores before deploying remaining IPO surplus
• Current sales remain 95%+ dependent on Shop-in-Shop (SIS) formats, with matured EBOs expected to generate ₹9-10 crore annually

PNGS Reva Diamond Jewellery Limited has opened a new Exclusive Brand Store (EBO) at Elpro Mall, Chinchwadgaon, Pune on November 1, 2026. With this addition, the company's retail footprint expands to 7 Exclusive Brand Stores alongside 34 Shop-in-Shop (SIS) stores with P. N. Gadgil & Sons Limited. The expansion supports retail distribution for the diamond jewelry player, which generated TTM revenues of Rs 503 crore. Specific store capex and revenue projections were not disclosed.

• Opened 1 new exclusive brand store at Elpro Mall, Pune on November 1, 2026
• Expanded EBO network to a total of 7 Exclusive Brand Stores
• Maintains an existing network of 34 SIS stores with P. N. Gadgil & Sons Limited

PNGS Reva Diamond Jewellery has launched a new Exclusive Brand Store (EBO) at Bavdhan Khurd, Pune on October 30, 2026. This launch takes the company's retail footprint to 6 EBOs alongside its existing network of 34 Shop-in-Shop (SIS) stores with P. N. Gadgil & Sons Limited. The addition represents incremental physical retail expansion to support its annual revenue base of Rs 503 crore.

• Opened new Exclusive Brand Store at Shop No. 33, Flow Bavdhan, Pune on October 30, 2026
• Total exclusive brand store (EBO) count increases to 6
• Maintains 34 SIS stores with P. N. Gadgil & Sons Limited as of date

PNGS Reva Diamond Jewellery reported Q2FY27 revenue from operations of ₹120.5 Cr (Rs 1,205 Mn), up 17% YoY, with PAT jumping 84% YoY to ₹23.3 Cr (Rs 233 Mn). For H1FY27, revenue reached ₹238.5 Cr (up 52% YoY) while PAT surged 151% YoY to ₹50.5 Cr, representing a strong 21% net margin. Operational network expanded to 34 Shop-in-Shop (SIS) stores and 5 Company-Owned Company-Operated (COCO) stores across 4 states, alongside the launch of its e-commerce platform on September 16, 2026. The company also announced plans to open 15 new Exclusive Brand Outlets (EBOs), of which 4 have already launched.

• Q2FY27 Revenue from operations rose 17% YoY to ₹120.5 Cr (Rs 1,205 Mn), with diamond-only revenue up 46.25% YoY.
• H1FY27 PAT increased by 151% YoY to ₹50.5 Cr (Rs 505 Mn) with a 21% PAT margin.
• EBITDA for H1FY27 expanded 103% YoY to ₹62.6 Cr (Rs 626 Mn), achieving a 26% margin.
• Network stands at 34 SIS and 5 COCO stores; plans outlined for 15 new EBO stores (4 already launched).
• Digital footprint expanded with the launch of the e-commerce website revadiamonds.com on September 16, 2026.

PNGS Reva Diamond Jewellery reported Q2 FY27 revenue from operations of ₹120.54 crore (INR 1,205.41 million), rising 17.1% YoY from ₹102.97 crore. Profit after tax for the quarter jumped 84.6% YoY to ₹23.29 crore (INR 232.94 million) compared to ₹12.61 crore in Q2 FY26, though down 14.4% QoQ from ₹27.21 crore. For the half-year ended September 30, 2026, revenue stood at ₹238.51 crore with PAT of ₹50.50 crore. The company expanded its retail footprint to 34 shop-in-shops and 5 exclusive brand stores, up from 2 exclusive stores as of March 31, 2026.

• Q2 FY27 revenue from operations grew 17.1% YoY to ₹120.54 crore (INR 1,205.41 million)
• Q2 FY27 Net Profit surged 84.6% YoY to ₹23.29 crore (INR 232.94 million), while EPS stood at ₹7.35
• H1 FY27 PAT rose 150.8% YoY to ₹50.50 crore on revenue of ₹238.51 crore
• Out of ₹286.56 crore earmarked from IPO proceeds for 15 new stores, ₹41.25 crore has been utilized
• Exclusive brand store network increased from 2 (March 2026) to 5 stores as of October 26, 2026

PNGS Reva Diamond Jewellery reported a 35.01% YoY increase in Navratri and Dussehra festive sales, totaling ₹385.27 million (approx. ₹38.53 crore). Standalone Dussehra day sales (excluding gold) reached ₹121.86 million, up 62.40% YoY from ₹75.04 million. Total festive sales account for approximately 7.7% of the company's TTM revenue of ₹503 crore. Additionally, the company expanded its footprint to 39 stores (5 COCO/EBOs and 34 SIS) following a recent COCO opening in Jaipur.

• Navratri and Dussehra festive sales reached ₹385.27 Million, up 35.01% YoY
• Dussehra day revenue (excluding gold) grew 62.40% YoY to ₹121.86 Million vs ₹75.04 Million
• Store network expanded to 39 stores comprising 5 COCO/EBO stores and 34 SIS stores
• Added a new COCO store in Jaipur, continuing transition to COCO-led expansion

PNGS Reva Diamond Jewellery Limited announced the opening of a new Exclusive Brand Store (EBO) at Pacific Mall, Mansarovar, Jaipur, Rajasthan on October 11, 2026. With this addition, the company's retail network expands to 5 Exclusive Brand Stores alongside 34 Shop-in-Shop (SIS) stores with P. N. Gadgil & Sons Limited. The expansion builds on PNGS Reva's footprint as it posted TTM revenues of Rs 503 crore with an operating profit margin of 23.4%.

• Opened new Exclusive Brand Store at Pacific Mall, Jaipur on October 11, 2026
• Total Exclusive Brand Stores (EBO) count increased to 5
• Maintains 34 Shop-in-Shop (SIS) stores with P. N. Gadgil & Sons Limited

PNGS Reva Diamond Jewellery reported a 46.25% YoY increase in Q2FY27 revenue from operations (excluding gold sales) to ₹120.54 crore (₹1,205.40 million), compared to ₹82.42 crore in Q2FY26. Total revenue including gold sales rose 17.46% YoY to ₹120.54 crore, as excess gold sales dropped to zero during the quarter. For H1FY27, revenue excluding gold grew 75.75% YoY to ₹236.53 crore. The company expanded its store count to 38 (4 COCO stores, 34 SIS stores) and plans to open approximately 15 new COCO stores over the next 24 months.

• Q2FY27 revenue excluding gold sales rose 46.25% YoY to ₹1,205.40 million (vs ₹824.19 million in Q2FY26)
• H1FY27 revenue excluding gold sales reached ₹2,365.27 million, growing 75.75% YoY
• Store footprint expanded to 38 stores (4 COCO/EBOs and 34 Shop-in-Shop formats) as of date
• Company aims to open ~15 new COCO stores over the next 24 months post-IPO
• Launched new e-commerce platform (revadiamonds.com) to drive digital retail sales

PNGS Reva Diamond Jewellery Limited has launched its new e-commerce platform (revadiamonds.com) on September 16, 2026. The platform aims to expand market reach, improve customer experience, and strengthen the company's digital presence in the luxury jewellery sector. Financially, the company reported revenue of ₹117.97 crore and a net profit of ₹27.21 crore in the June 2026 quarter, establishing a solid baseline for digital sales traction. No specific capex or investment outlay for the platform rollout was disclosed in the filing.

• Launched proprietary e-commerce platform accessible at revadiamonds.com on September 16, 2026
• Digital sales channel launched to augment retail reach and customer accessibility
• Company posted ₹117.97 crore revenue and ₹27.21 crore net profit in Q1 FY27 (June 2026)
• Capital expenditure and revenue contribution targets for the platform were not disclosed

CARE Ratings has reaffirmed PNGS Reva Diamond Jewellery Limited's long-term and short-term bank facilities rating at 'CARE BBB+ / CARE A2' while revising the outlook from 'Stable' to 'Positive'. The rated facility limits were enhanced from Rs 190.00 crore to Rs 280.00 crore. The revision reflects the company's strengthened net worth following its February 2026 IPO, comfortable capital structure with gearing improving to 0.33x, and a solid cash buffer of Rs 324.43 crore as of March 31, 2026.

• Bank facility limit enhanced to Rs 280.00 crore from Rs 190.00 crore with outlook revised to Positive from Stable.
• Overall gearing improved significantly to 0.33x as of March 31, 2026, down from 0.91x in the previous year.
• Company reported strong liquidity with cash and bank balance of Rs 324.43 crore as of March 31, 2026.
• FY26 PBILDT and PAT margins stood at 21.83% and 14.73% respectively, with interest coverage of 8.92x.
• Average working capital limit utilization stood at ~76% for the 12 months ended July 31, 2026.

PNGS Reva Diamond Jewellery reported a robust Q1 FY27 with revenue growing 119.5% YoY to ₹118 cr and PAT surging 265% to ₹27.21 cr. The company is executing an aggressive expansion strategy, planning to open 15 new COCO (Company Owned Company Operated) stores using IPO proceeds, with 9 scheduled for the current year. Management highlighted strong operational metrics including an inventory turnover of 1.29x and an average order value of ₹1 lakh. While Q1 margins were exceptionally high at 23.06% (PAT), management guided for a 200-300 bps compression for the full year due to planned marketing spends in upcoming festive quarters.

• Revenue from operations grew 119.5% YoY to ₹118 cr in Q1 FY27.
• PAT increased 265% YoY to ₹27.21 cr with a net margin of 23.06%.
• Akshaya Tritiya sales recorded a 268% YoY jump to ₹12.7 cr.
• Inventory turnover stood at 1.29x, within the industry benchmark of 0.75x to 1.5x.
• Company is on track to open 15 new COCO stores, with 2 already operational and 9 planned for Year 1 post-IPO.

PNGS Reva Diamond Jewellery reported a stellar Q1FY27 with revenue reaching ₹118 Cr, a 119% YoY increase. Profitability saw a massive jump as PAT rose 265% YoY to ₹27.2 Cr, driven by PAT margins expanding from 14% to 23%. The company is aggressively expanding its retail footprint, planning 15 new EBO stores to complement its existing 34 SIS and 3 COCO stores. Average order value also improved by 8% YoY to ₹1,00,232, reflecting strong consumer demand for certified natural diamonds.

• Revenue from operations grew 119% YoY to ₹1,180 Mn in Q1FY27.
• PAT surged 265% YoY to ₹272 Mn with margins expanding to 23%.
• EBITDA increased 193% YoY to ₹339 Mn, achieving a 29% margin.
• Average Order Value (AOV) increased by 8% YoY to ₹1,00,232.
• Company plans to add 15 new EBO stores, with 2 already launched as of July 2026.