PNGS Reva Q2 FY27 Results: Revenue Rises 46.25% To ₹120.54 Crore Despite No Festive Days, Store Count Reaches 38

PNGS Reva Diamond Jewellery Limited reported a 46.25% year-on-year rise in revenue from operations, excluding gold sales, to ₹120.54 crore in Q2 FY27, compared with ₹82.42 crore in the year-ago quarter. The PNGS Reva Q2 FY27 results showed growth despite the quarter having no festive days, unlike Q2 FY26, which included nine days of festive sales.

For the first half of FY27, PNGS Reva revenue from operations excluding gold sales rose 75.75% year-on-year to ₹236.53 crore from ₹134.58 crore. Including gold sales, Q2 revenue stood at ₹120.54 crore, with no gold sales recorded during the quarter, while H1 revenue was ₹238.51 crore, including ₹1.97 crore from gold sales. The company clarified that its gold sales are incidental and mainly relate to excess gold received from customers as part of diamond jewellery purchases.

The share price responded positively to the news on Monday, 5 October. At 12:12 PM, PNGS Reva share price was trading at ₹519.40, up 2.97% on the National Stock Exchange (NSE).

What Drove PNGS Reva Growth?

The company said it saw healthy demand through the quarter, helping it deliver higher sales even without any festive days. This is notable because the Dussehra and Diwali period typically accounts for a large share of its annual revenue.

PNGS Reva also continued to add stores during the quarter. Its PNGS Reva store expansion included company-owned, company-operated (COCO) stores at Amanora Mall in Pune in July and Agora Commercial Complex in Nashik in September. This took its total store count to 38 as of the latest update, comprising four COCO or exclusive brand outlets and 34 shop-in-shop stores. The company had 36 stores as of 30 June 2026.

The jewellery retailer said its COCO stores are performing in line with expectations. It remains on track to open around 15 new COCO stores over the next 24 months from its initial public offering (IPO) date, with a focus on Tier 1 cities and selective expansion into Tier 2 cities and metro markets.

The company has also launched its new e-commerce platform, revadiamonds.com, as part of its efforts to widen its customer reach and strengthen its digital presence.

What Is The Outlook For Q3?

The company expects Q3 to be stronger, with the wedding season, Dussehra and Diwali falling in the quarter. PNGS Reva said these periods tend to bring more high-value purchases, which may lift the average order value.

Q2 FY27 had no festive days, while the same quarter last year had nine days of festive sales. Even with that difference, PNGS Reva’s sales were higher on a year-on-year basis. The company said demand remained healthy through the quarter.

PNGS Reva now has 38 stores. Four are COCO stores, and the remaining 34 operate under the shop-in-shop format. The company plans to add around 15 more COCO stores over the next 24 months, mainly in Tier 1 cities, while also looking at selected Tier 2 and metro markets.

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