PN Gadgil Jewellers Share Price Target 2027: Is Rs 698 Realistic? Bull Case Points to Rs 836

Investors weighing a PN Gadgil Jewellers target price for 2027 should start with where the stock sits today. At Rs 588.65 on 5 November 2026, it is 20.1% below its 52-week high of Rs 736.40 and 17.0% above its 52-week low of Rs 503.00. That range spans 46% from low to high, so the entry point matters as much as the PN Gadgil Jewellers price forecast itself.

This article builds the PN Gadgil Jewellers share price target from reported numbers only: five years of annual results, the last five quarters, the latest shareholding pattern and current valuation ratios from company filings and exchange data. Each scenario states its assumptions, so you can trace how the base case, the bull case and the downside risk level were reached and test them against your own view.

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PN Gadgil Jewellers Stock Analysis: Company Overview and Key Stats

PN Gadgil Jewellers (NSE: PNGJL) has a market capitalisation of Rs 8,562 crore. In FY26 it reported revenue of Rs 10,827 crore and net profit of Rs 409.82 crore. The table collects the figures the PN Gadgil Jewellers share price target is built on.

Metric	Value
Company	PN Gadgil Jewellers
NSE Ticker	PNGJL
CMP (5 November 2026)	Rs 588.65
52-Week High	Rs 736.40
52-Week Low	Rs 503.00
Market Cap	Rs 8,562 crore
PE Ratio (TTM)	17.56
Industry PE	45.05
Price to Book	2.99
Return on Equity	17.02%
Debt to Equity	0.75
EPS (TTM)	Rs 33.13
Dividend Yield	0.00%
12-Month Base Target	Rs 698
Bull Case	Rs 836
Downside Risk Level (not a target)	Rs 465

Why Is PN Gadgil Jewellers Share Price Target Set at Rs 698 for 2027?

The arithmetic is short. Trailing EPS of Rs 33.13 grown for one year gives a forward EPS estimate of Rs 39.76, and multiplying it by the unchanged PE of 17.56 gives the Rs 698 base-case PN Gadgil Jewellers stock target. The bull case adds faster earnings growth and a higher multiple, while the downside risk level assumes flat earnings and a lower multiple.

Earnings Growth Behind the PN Gadgil Jewellers Target Price: Five Years of Results

PN Gadgil Jewellers grew revenue from Rs 2,586 crore in FY22 to Rs 10,827 crore in FY26, a compound annual growth rate of 43.0%. Net profit grew faster, from Rs 69.52 crore to Rs 409.82 crore (55.8% a year), which shows margin gains did part of the work and not just higher sales.

Financial Year	Revenue (Rs Cr)	Net Profit (Rs Cr)	EPS (Rs)	Dividend per Share (Rs)
FY22	2,586.30	69.52	5.89	0.00
FY23	4,559.31	93.70	7.94	0.00
FY24	6,119.21	155.15	13.15	0.00
FY25	7,722.62	218.27	17.10	0.00
FY26	10,827.18	409.82	30.20	0.00

FY26 revenue growth was 40.2%, slower than the four-year average of 43.0%, and net profit moved up 87.8%. EPS rose from Rs 13.15 in FY24 to Rs 30.20 in FY26. The FY27 outlook depends on whether that EPS estimate keeps compounding.

Margins and the Latest Quarter

PN Gadgil Jewellers converted 3.8% of FY26 revenue into net profit, against 2.8% in FY25, within a five-year range of 2.1% to 3.8%. EBITDA margin was 6.5% in FY26 versus 4.8% in FY25.

In the September 2026 quarter, revenue was Rs 2,684 crore, up 21.2% from the same quarter a year earlier, while net profit of Rs 121.11 crore was up 52.7%. EBITDA came in at Rs 224.61 crore, up 57.1% year on year. The next quarterly result is the first test of whether the earnings assumption holds.

Balance Sheet and Cash Flow

Debt to equity stands at 0.75, and shareholders' equity grew from Rs 282.01 crore in FY22 to Rs 1,963 crore in FY26. Operating cash flow in FY26 was negative at Rs 716.90 crore against capital expenditure of Rs 65.02 crore, leaving negative free cash flow of Rs 781.92 crore. In FY25 free cash flow was negative at Rs 727.95 crore.

Valuation Check for the PN Gadgil Jewellers Stock Target: PE, Price to Book and ROE

At a PE of 17.56 against an industry PE of 45.05, PN Gadgil Jewellers trades at a discount to its industry. Price to book is 2.99 on a book value of Rs 194.62 per share, and return on equity is 17.02%. A PE of 17.56 equals an earnings yield of 5.7%, and the FY26 dividend of Rs 0.00 per share gives a yield of 0.00%.

Shareholding Pattern and Institutional Holding

Promoters held 76.62% of PN Gadgil Jewellers in September 2026, and promoter holding fell from 83.11% in December 2025 to 76.62% in September 2026. Foreign institutional investors (FII) held 3.82% and domestic institutions (DII) held 7.05%, which puts total institutional holding at 10.87%. FII holding rose from 0.75% in December 2025 to 3.82% in September 2026. Public shareholders own the remaining 12.50%.

PN Gadgil Jewellers Share Price Targets for the Short Term and 12 Months

Short Term PN Gadgil Jewellers Stock Target Levels: Technical Setup

At Rs 588.65 on 5 November 2026, PN Gadgil Jewellers trades below its 50-day simple moving average of Rs 592.56 and below its 200-day exponential moving average of Rs 596.03. The 14-day RSI reads 49.5, which is neutral territory, and the MACD line sits above its signal line. The nearest resistance level is Rs 592.56 (50-day simple moving average) and the nearest support is Rs 503.00 (52-week low). A sustained move above Rs 592.56 would improve the short-term setup, while a close below Rs 503.00 would shift attention to the next support.

12 Month PN Gadgil Jewellers Target Price for 2027

The 12-month target of Rs 698 means a move of 18.6% up from Rs 588.65 over the next 12 months. It would still leave the stock 5.2% below its 52-week high of Rs 736.40. Anyone checking the PN Gadgil Jewellers share price target against their own view should focus on two inputs: the EPS estimate and the PE multiple.

How EPS Growth and PE Multiple Change the PN Gadgil Jewellers Target Price

EPS Growth	PE 14.05	PE 17.56	PE 20.19
0.0% (EPS Rs 33.13)	Rs 465	Rs 582	Rs 669
20.0% (EPS Rs 39.76)	Rs 559	Rs 698	Rs 803
25.0% (EPS Rs 41.41)	Rs 582	Rs 727	Rs 836

Each cell multiplies the forward EPS estimate by the PE shown. Reading across a row shows what a de-rating or re-rating does to the PN Gadgil Jewellers price forecast, and reading down a column shows what earnings growth is worth at a fixed multiple.

Bull Case and Downside Risk for PN Gadgil Jewellers Stock Target in 2027

Bull Case Rs 836

The bull case PN Gadgil Jewellers price target needs EPS growth of 25.0%, which lifts forward EPS to Rs 41.41, and a PE multiple that rises 15% to 20.19. That gives Rs 836, 42.0% above the current price and above the 52-week high of Rs 736.40, so the stock would have to set a fresh 52-week high.

Downside Risk Level Rs 465

The downside risk level is not a target. It assumes EPS stays flat at Rs 33.13 and the PE falls 20% to 14.05. That gives Rs 465, 21.0% below the current price and below the 52-week low of Rs 503.00.

Scenario	EPS Growth	PE Multiple	Price (Rs)	Change vs CMP
Bull Case	25.0%	20.19	Rs 836	+42.0%
Base Case	20.0%	17.56	Rs 698	+18.6%
Downside Risk	0.0%	14.05	Rs 465	-21.0%

Key Risks to the PN Gadgil Jewellers Target Price for 2027

Growth Slowdown Risk for the PN Gadgil Jewellers Price Target

Revenue in the September 2026 quarter was up 21.2% year on year, and FY26 revenue growth was 40.2%. If growth slows from here, the EPS estimate behind the PN Gadgil Jewellers stock target will need revising.

Liquidity and Size Risk

PN Gadgil Jewellers has a market capitalisation of Rs 8,562 crore. Institutional holding is 10.87%, and promoters hold 76.62%. Stocks of this size can move sharply on small volumes, and exits can take longer than entries.

Valuation and Margin Risk

Net margin was 3.8% in FY26, so a small slip in costs moves profit noticeably. At a PE of 17.56 versus an industry PE of 45.05, a de-rating toward the downside-risk PE of 14.05 would cut the price even if earnings hold.

Market and Technical Risk

Technical indicators add short-term risk: the 14-day RSI is 49.5 and the MACD sits above its signal line. A broad fall in the Nifty 50 or the Sensex can override company fundamentals for weeks at a time. That applies to any PN Gadgil Jewellers stock target, however carefully it is built.

How to Invest in PN Gadgil Jewellers

Start with the live price and volume. Any PN Gadgil Jewellers share price target is only as current as the data behind it, and the data here is as of 5 November 2026, so refresh the Rs 588.65 price before acting on any level.

Next, review the fundamentals yourself. The Univest Screener lets you check PN Gadgil Jewellers' PE, ROE, debt and shareholding in one place.

Check PN Gadgil Jewellers fundamentals on the Univest Screener

Then compare the three PN Gadgil Jewellers target price scenarios with your own view. If you expect EPS growth below 20.0%, the base case is too optimistic for you; if you expect more, the bull case deserves weight.

Decide your position size and exit levels before you buy. The support and resistance levels above can serve as reference points, but they are not recommendations.

Finally, place the order through a SEBI-registered broker or the Univest app, and review the position after each quarterly result. Consult a SEBI-registered advisor if you are unsure.

Download the Univest iOS App or Univest Android App to track PN Gadgil Jewellers live price and get daily stock recommendations.

Conclusion

The PN Gadgil Jewellers share price target for 2027 is Rs 698 in the base case, with Rs 836 as the bull case. The support for that view is arithmetic you can check: EPS grew 51.5% a year over FY24 to FY26, and the stock trades at a PE of 17.56. The risks are equally concrete, including a net margin of just 3.8% that leaves profit sensitive to costs and a downside scenario that cuts the price 21% if earnings stall. Use these numbers as a framework, check them against the latest filings, and size any position to your own risk appetite.

FAQs on PN Gadgil Jewellers Share Price Target 2027

What is the PN Gadgil Jewellers share price target for 2027?

Ans. The base-case PN Gadgil Jewellers share price target for 2027 is Rs 698, which is 18.6% above the price of Rs 588.65 on 5 November 2026. The bull case is Rs 836 and the downside risk level, which is not a target, is Rs 465. All three come from one method: forward EPS multiplied by a PE multiple, using only reported results. They are model estimates and not guaranteed outcomes, and the next quarterly result is the first check on the EPS assumption.

What is the PN Gadgil Jewellers share price today?

Ans. As of 5 November 2026, 11:30 AM IST, PN Gadgil Jewellers (NSE: PNGJL) trades at Rs 588.65, up 1.21% on the day. That is 20.1% below the 52-week high of Rs 736.40 and 17.0% above the 52-week low of Rs 503.00. The market capitalisation of Rs 8,562 crore places it among small-cap stocks. Prices change through the trading session, so check the live quote before acting on any level in this article.

Is PN Gadgil Jewellers a buy or sell at the current price?

Ans. The data points both ways. On the positive side, EPS has grown 51.5% a year over FY24 to FY26 and the base case implies 18.6% upside; on the cautious side, the net margin is a thin 3.8%, and the downside risk level of Rs 465 is 21% below the current price. Whether PN Gadgil Jewellers fits your portfolio depends on your time horizon, position size and risk appetite. Consult a SEBI-registered advisor before investing, as this article is not investment advice.

What are the bull case target and downside risk level for PN Gadgil Jewellers shares?

Ans. The bull case in the PN Gadgil Jewellers share price target for 2027 is Rs 836, which assumes 25.0% EPS growth and a PE of 20.19, a 15% re-rating from today's multiple. That is 42.0% above the current price and above the 52-week high of Rs 736.40, so the stock would have to set a fresh 52-week high. The downside risk level is Rs 465, which assumes flat EPS and a PE of 14.05, 20% lower than today. It sits 21.0% below the current price and below the 52-week low of Rs 503.00, and it marks a risk to watch, not a target.

What are the main risks to the PN Gadgil Jewellers price target?

Ans. Four risks matter most for the PN Gadgil Jewellers share price target: slower revenue or profit growth, a PE de-rating, thin liquidity or size risk, and weakness in the broader market. With a market capitalisation of Rs 8,562 crore, the stock can move sharply on small volumes, and exits can take longer than entries. A fall to the downside-risk PE of 14.05 would cut the price even if earnings hold.

What is the PE ratio of PN Gadgil Jewellers and how does it compare with the industry?

Ans. The PE ratio of PN Gadgil Jewellers is 17.56, against an industry PE of 45.05, which is a discount to the industry. Price to book is 2.99 and return on equity is 17.02%, and the PE equals an earnings yield of 5.7%. The base case holds the PE unchanged, so the PN Gadgil Jewellers share price target moves only with earnings, while the bull and downside scenarios change the multiple by +15% and -20%.

Who owns PN Gadgil Jewellers, and what is the promoter holding?

Ans. Promoters held 76.62% of PN Gadgil Jewellers in September 2026. FII held 3.82%, DII held 7.05% and the public held 12.50%. Together the two institutional groups hold 10.87%. Shareholding is filed every quarter, so it is worth rechecking after each result.

What were PN Gadgil Jewellers' latest quarterly results?

Ans. In the September 2026 quarter, PN Gadgil Jewellers reported revenue of Rs 2,684 crore (up 21.2% year on year) and net profit of Rs 121.11 crore (up 52.7%). For comparison, FY26 full-year revenue growth was 40.2% and net profit moved up 87.8%. Each new quarter either supports or weakens the EPS growth of 20.0% assumed in the base case.