P N Gadgil & Sons ranks 280 on Fortune 500 India list for 2024, up from rank 471 earlier

The brand attributed a significant share of this success to teamwork, as well as the loyalty and trust of its customers, built over decades

Pune: Leading jewellery retailer P. N. Gadgil & Sons has been ranked 280 in the Fortune 500 India list of the largest Indian companies for 2024. This is the brand’s second appearance on the list, moving up from rank 471 earlier, and solidifying its position as a leader in the retail jewellery sector.

Securing a place in the Fortune 500 list is not just a measure of financial success but a recognition of the brand’s business philosophy and its contributions to the industry. The brand termed the achievement as a high point for Marathi entrepreneurship, calling it “a proud moment of glory, reflecting the essence of Marathi identity, excellence and success”. The Founder and Chairman of the company, Ajit Gadgil and Dr Renu Gadgil, congratulated the entire P. N. Gadgil & Sons family and said that by fostering honest relationships with customers and prioritizing quality, “the brand has set a benchmark in the Indian business world”.

“Being recognized for the second time among Fortune 500 India’s largest companies is a moment of immense pride for us. This achievement is a testament to the relentless dedication and teamwork of our organization. It underscores the strength of our growth, with evident topline and steady progress, driven by exquisite jewellery designs, exceptional craftsmanship, and unmatched customer service. Over the past decade, our unwavering commitment to innovation and artistry has propelled us forward, cementing our position as a leader in the jewellery industry,” said Ajit Gadgil, Director and Promoter, P N Gadgil and Sons Limited.

The brand also attributed a significant share of this success to the loyalty and trust of the customers, built over decades, and based on its customer-centric values and philosophy of blending heritage with innovation. In a press release, the brand said that this achievement underscores the company’s role in elevating Maharashtra’s regional pride and hopes it will inspire other regional businesses to aim higher.

Notably, PN Gadgil & Sons Ltd achieved a billion-dollar turnover in FY2022-23, touching the $1.33 billion mark. In rupee terms, the company crossed Rs 10,000 crore turnover. Overall, it posted a 90% growth in total performance and 32% growth in jewellery sales, compared to the previous financial year. It became the first regional retail jewellery brand from Maharashtra to achieve this milestone.

P N Gadgil Jewellers was founded by Ganesh Gadgil in 1832. Today, the company is known as PNG Gadgil & Sons. It has a presence in three States and 23 cities, with more than 30 showrooms, catering to more than a million customers worldwide.

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