Gargi by PNGS Reports Impressive Annual Performance: Sales Surge 76.07% to Reach Rs 50.48 Crore in turnover for the last financial year.

PNGS Gargi Fashion Jewellery Ltd (Gargi), a leading name in the fashion jewelry
industry, has clocked a stellar financial performance for the financial year from April 2023 to
March 2024. It has reported a substantial increase in annual sales, up 76.07% to Rs 50.48
crore, compared to Rs 28.67 crore in the preceding year. Looking at the full-year
performance, Gargi continued its upward trajectory, with net profit rising by 80.38% to Rs
8.46 crore for the year ended March 2024, compared to Rs 4.69 crore in the previous year.

For the last quarter ending March 2024, the company showed a remarkable growth rate of
116.93% and achieved sales of Rs 15.38 crore, showcasing robust performance and market
resilience. The quarter also witnessed a substantial increase in net profit, which soared by
74.07% to Rs 2.35 crore compared to the previous quarter ended March 2023, when it
stood at Rs 1.35 crore. This impressive growth is a testament to Gargi’s strategic initiatives
and ability to adapt to evolving market dynamics.

Speaking about this, Mr. Aditya Modak, Co-founder of Gargi by PNGS, said, “We are thrilled
to witness such remarkable growth in sales and net profit, which reflects the dedication and
hard work of our team, as well as the trust and support of our customers. These results
underscore our commitment to delivering exceptional products and experiences.”

Gargi has achieved remarkable milestones, boasting a portfolio of over 15,000 SKUs and
experiencing exponential growth in its first year, with a 6x increase in revenue. The
company’s listing on the Bombay Stock Exchange (BSE) further solidified its position as a
market leader, a position that will continue to attract customers and drive its growth. With a
quadruple increase in customer numbers, the company is now confident in its customers’
trust and confidence in them. With a footprint spanning 18 locations across 10 metro cities
and 6 states, Gargi is poised for continued growth and success and has a robust plan for the
financial year 2024-25.