P N Gadgil Jewellers Limited

rs,

Date: November 12, 2025 To, BSE Limited, Phiroze Jeejeebhoy Towers, Dalal Street, Mumbai – 400001 Scrip Code: 544256 Subject: Investor Presentation Dear Sir/Madam,

rs 2022

tate Best Employer of the Year Awards Employer Branding Institute of India for 2 consecutive years 2022 by ➢ 2023: Industry Legend Award by GJEPC India & Iconic Retailer of West India Award 2023 by

73.8%

c Retailer of West India Award 2023 by JewelBuzz ➢ 2024: got listed on the BSE at a premium of 73.8% and on the NSE at a premium of 72.9% ➢ 2025: Crossed 2,100 employees and 53 stores milestone, de

72.9%

by JewelBuzz ➢ 2024: got listed on the BSE at a premium of 73.8% and on the NSE at a premium of 72.9% ➢ 2025: Crossed 2,100 employees and 53 stores milestone, delivering a consolidated FY25 revenue

₹76,934.68 million

2025: Crossed 2,100 employees and 53 stores milestone, delivering a consolidated FY25 revenue of ₹76,934.68 million. ➢ 2026: Launched “LiteStyle By PNG” For the last 3.5 decades, we have been a distinguished je

9%

nue per Sq Ft for H1 FY26 84,046 Total SKU’s 617.8 Mn Average Revenue per Store for H1 FY26 9% Approx. Stud Ratio For Q2 FY26 90.3 K Average Transaction Value for H1 FY26 23.59 Mn Net P

28.8%

atio For Q2 FY26 90.3 K Average Transaction Value for H1 FY26 23.59 Mn Net Profit per Store 28.8% SSSG for Q2 FY26 (Q-o-Q) 3.2x Inventory Turnover Ratio (Annualised) Investor Presentation – Q2

3.2x

e Transaction Value for H1 FY26 23.59 Mn Net Profit per Store 28.8% SSSG for Q2 FY26 (Q-o-Q) 3.2x Inventory Turnover Ratio (Annualised) Investor Presentation – Q2FY26 6 Agenda 01 02 03 04

94%

Jewellery Market Share of Organized Jewellery in Retail Market is Rising Organised Unorganised 94% 6% FY07 68% 66% 32% FY20 34% FY22 62% 38% FY24 2nd 850 Tn Largest gold market in t

6%

llery Market Share of Organized Jewellery in Retail Market is Rising Organised Unorganised 94% 6% FY07 68% 66% 32% FY20 34% FY22 62% 38% FY24 2nd 850 Tn Largest gold market in the w

68%

et Share of Organized Jewellery in Retail Market is Rising Organised Unorganised 94% 6% FY07 68% 66% 32% FY20 34% FY22 62% 38% FY24 2nd 850 Tn Largest gold market in the world Avera

66%

hare of Organized Jewellery in Retail Market is Rising Organised Unorganised 94% 6% FY07 68% 66% 32% FY20 34% FY22 62% 38% FY24 2nd 850 Tn Largest gold market in the world Average go

“Investor Presentation – Q2FY26 The Company expanded international presence by its launching a store in Sunnyvale, California, USA, in August 2008 Baramati Stores Count 47 16 Company Stores Franchise Stores Uttar Pradesh Lucknow Kanpur 14 Strategically Selected Store Locations Covering Our Target Consumers Company Stores Open Area (sq.”

“15 Strategically Selected Store Locations Covering Our Target Consumers Location Open Area (sq.”

“We aim to connect with customers who proudly embrace their diva style The collection is created for those who desire a touch of everyday luxury.”

“Refinery 21,776 16,578 31.4% 16 Refinery 3,435 13 Revenue from Operations 21,776 20,013 8.8% 42 47 For H1 FY26, Revenue excluding the refinery segment delivered a Y-o-Y growth of 30.9% Particulars (INR Mn) H1 FY26 H1 FY25 Y-o-Y Revenue Excl.”

Marriage Seasons

1

Agriculture Influence

1

Festive Boost

1

Store Formats

1

Process

1

Company

1

Investor Relations Partner

1

Agriculture Influence

Rural households invest post-harvest proceeds in gold, especially in November and December Gold jewellery holds aspirational value in India Gold, whether sold as jewelry, bars, or coins, experiences organic demand, unlike lifestyle retail categories such as footwear and apparel 34% 66% FY23 Jewellery 38% 62% FY28P Bars and Coins Jewelry retailing carries no inventory obsolescence risk, as products can be recycled and repurposed into new designs E-Commerce penetration is expected to reach 10% of overall sales by FY28

Festive Boost

Gold and silver jewelry sales rise during Diwali, Dhanteras (Oct-Nov), and Akshaya Tritiya (Apr- May). As a high-ticket item, jewelry has a lower relative cost for rent, staffing, and promotions compared to footwear and apparel, with the majority of store setup costs allocated to inventory. Source: IBEF Deloitte Report & Technopak Industry Report Investor Presentation – Q2FY26 10% 90% FY28P 6% 94% FY23 Offline E-Commerce 11 Shifting Consumer Trends: A Turning Point for the Indian Jewellery Market 01 02 03 04 05 06 07 Young consumers prefer lightweight jewellery with trendy designs Shift towards “consumption of jewellery” rather than pure “investment” Frequency of purchase by consumers have gone up due to rising disposable income Increasing importance of hallmarking and certifications that provide assurance of metals purity and genuineness Quality of material and craftsmanship is one of the top considerations Trust in long-standing, reputed and reliable jewellery brands is higher Design

Store Formats

▪ > 2,500 sq ft – Large Format Stores ▪ 1000 to 2,500 sq ft – Medium format stores ▪ < 1,000 sq ft stores – Small format stores Investor Presentation – Q2FY26 Note - *The store count is as on 30th September, 2025. 16 A Glimpse of Our Current Stores Investor Presentation – Q2FY26 17 We Dominate Gold Jewellery Segment in our Catchment Markets with Growing Momentum in Studded Jewellery Gold Products Diamond Products Silver & Platinum Products Earrings Rings Pendant Earrings Rings Necklace Silver Article Lotus Diya Rakhi Necklace Bracelet Mangalsutra Pendant Mangalsutra Bracelet Diya Painjan Spoon Gold Chain Gold Nath Bracelets & Bangles Kurta Button Cufflinks Nosepin Ring Couple Rings Shrimant Haar ➢ 7K+ SKUs across Gold necklace, ring, ➢ 62K+ designs in diamond jewellery ➢ 13K+ SKUs in silver and platinum categories bangles, earring ➢ Started the "Vedhani" on Gurupushyamrut tradition of purchasing the auspicious day of ➢ PNG diamonds are certified by renowned labs like IGI, SGL, and HKD

Process

▪ Predefined stock levels for each store ▪ Stores submit detailed item requirements ▪ Biweekly purchase orders ▪ Requirements are consolidated, and vendors are assigned ▪ Jewellery is selected from vendor showcases Hallmark, finish, polish & PNG stamp of the jewellery is checked by HO’s QC team A jewellery sample from each vendor is melted Regularly to ensure metal purity Only pieces meeting PNG’s quality standards are labelled HO distributes Inventory to stores after quality checks Inventory Management Implemented ERP to track end-to- end Inventory. Predefined store-wise minimum inventory levels prevent stock shortages HO conducts daily inventory reconciliation based on store stock count and ERP data Efficient Operations and Standardized Processes Enable Us to Scale New Stores Rapidly with a Quick Time-to-Market Employed robust software across all our stores ensuring timely procurement and efficient inventory management Investor Presentation – Q2FY26 24 Well-Established Brand in Mahar

Company

P N Gadgil Jewellers Limited CIN: L36912PN2013PLC149288 Email ID: secretarial@pngadgil.com Tel: +91 020 4478474 Website: www.pngjewellers.com

Investor Relations Partner

X-B4 Advisory LLP Rasika Sawant / Gautam Kothari Tel: +91 95944 57518 / +91 79776 16640 Email ID: rasika@x-b4.com / gautam@x-b4.com Website: www.x-b4.com