P. N. Gadgil & Sons Limited IPO

P. N. Gadgil & Sons Limited is one of the leading and trusted retail jewellery companies in Maharashtra. The legacy of the “P. N. Gadgil” brand traces back over six generations to the year 1832. Prior to the incorporation of our Company in the year 2017, consequent to its conversion from the Erstwhile Partnership Firm, the current business was carried on by our Promoters in the name of such Erstwhile Partnership Firm.
The Company offerings include gold jewellery, silver jewellery, idols and other silverware, diamonds and diamond jewellery and other gemstones jewellery and related gift items. We have the ability to create localized product mixes in our stores to suit regional tastes. We cater to our customers’ unique preferences, through our understanding of the regional market, as well as region-specific advertising and marketing campaigns.
The Company offer a wide range of products from jewellery for special occasions such as weddings and festivals to dailywear jewellery for all ages, genders and across various price points. We cater to a variety of customers across high-end market, mid-market and value market segments and our products are designed by our in-house team of creative designers allowing us to manage a large and diverse portfolio of designs. We have a dedicated design team, focused on developing new products and designs that meet customers’ requirements. We also customise jewellery for individual needs. We engage artisans and contract manufacturers to manufacture our jewellery.
As on March 2018, we are the 2nd largest in terms of the store count in Maharashtra (Source: CRISIL Report). Our stores are divided into three formats, primarily on account of the size of the store, namely 11 ‘large format stores’ (above 3,500 sq. ft. of built-up area), six ‘medium-format stores’ (above 2,200 sq. ft. of built area up to 3,500 sq. ft. of built-up area) and eight ‘small-format stores’ (above 1,000 sq. ft. of built up area up to 2,200 sq. ft. of built-up area). As of March 31, 2018, we have 23 stores in Maharashtra and one store in Gujarat and Karnataka each, with an aggregate built-up area of 100,213 sq. ft. For efficient management and operations, our Company has divided its stores into three separate zones as per our zonal model, namely Pune-zone, Nashik-zone and Solapurzone.
Our store network has also increased from two stores as on April 1, 2012 to 25 stores as on March 31, 2018. We further intend to expand our footprint by increasing our store count to 29 by end of FY2019 and 40 by end of FY2020. All of our stores are operated and managed by us. We also sell our products through our online platform at www.onlinepng.com.
We have implemented quality control practices across the value chain to ensure that we sell hallmarked gold jewellery up to 22 karats in line with the quality and purity metrics prescribed by BIS. All diamond jewellery that
we sell is certified by IGI and loose diamonds that we sell are certified by GIA. Further, various quality control
practices are followed during the designing and manufacturing of our jewellery