PNG Jewellers

PNG Jewellers P. N. Gadgil Jewellers (PNG), established on November 29, 1832, by Ganesh Narayan Gadgil in Sangli, Maharashtra, stands as one of India's oldest jewellery houses with nearly 200 years of unbroken heritage spanning eight generations of the Gadgil family. The founding story is deeply rooted in Maharashtra's entrepreneurial traditions - Ganesh Narayan originally sold 'Gadgil Panche' (towels) and learned the jewellery craft under a goldsmith family from the Konkan region before establishing his own jewellery business. This humble beginning in a small shop in Sangli has evolved into one of Maharashtra's most trusted and beloved jewellery retail chains, with the family wisdom, craftsmanship skills, and business principles being passed down through eight successive generations.

The brand carries the name of Purshottam Narayan Gadgil, Ganesh's grandson, from whom the abbreviation "P. N. Gadgil" derives. In 1958, a pivotal expansion occurred when Anant Gadgil (affectionately known as 'Dajikaka'), along with Vishwanath and Laxman Gadgil, established a showroom on the iconic Laxmi Road in Pune. This location became central to PNG's identity and growth, establishing Pune as the brand's primary market. Dajikaka is revered in the company's history for guiding the business through numerous pivotal moments and establishing the customer relationships and trust that define PNG today. In 2012, the business formally split into two branches - one based in Sangli and the other centered in Pune. The Pune entity became known as P. N. Gadgil & Sons Ltd (PNG & Sons) and converted to a limited company in November 2017.

A landmark achievement occurred in September 2024 when PNG held its Initial Public Offering (IPO), raising approximately ₹1,100 crore - one of the most significant jewellery sector IPOs in India. The Gadgil family retained firm majority ownership while the public listing brought institutional capital, enhanced transparency, and the discipline of public company governance. The successful IPO reflects market confidence in PNG's heritage, market position, and growth potential, while providing resources for continued expansion and modernization.

As of 2025, PNG Jewellers operates 53 outlets across India - 52 stores in Maharashtra and Goa, plus one international location in the United States. Of these, 41 are company-operated stores and 12 are franchises operating under the FOCO (Franchise Owned, Company Operated) model. The geographic concentration in Maharashtra reflects PNG's strategy of deep market penetration in their home territory rather than thin presence across multiple regions. This focused approach has made PNG the dominant jewellery brand in Pune and surrounding areas, with brand recognition and customer loyalty that national chains struggle to match in this market.

The leadership of PNG under Saurabh V. Gadgil, great-grandson of the founder and current Chairman and Managing Director, represents the successful transition from traditional family business to professionally managed public company. Saurabh led the IPO process in 2024 and has overseen expansion and modernization initiatives while preserving the heritage values that define PNG. This balance between tradition and progress is central to PNG's identity - the family remains actively involved in business decisions while professional management practices ensure scalability and governance.

PNG's expertise in traditional Maharashtrian jewellery is unparalleled in the industry. The brand maintains distinct collections grounded in Marathi bridal heritage including the Paithani-style necklace (inspired by the famous Paithani silk sarees of Maharashtra), Thushi (traditional choker worn with Nauvari sarees), Vaati Mangalsutra (the two-vati style unique to Maharashtra), Rani Haar (queen's necklace - a long, ornate piece), Kaan (traditional ear ornaments), Pichodi (ornamental pins), Vaaki (armlets), and Mohanmaal (multi-strand pearl necklaces). Each of these pieces has specific cultural significance in Maharashtrian weddings and is crafted using techniques that PNG has preserved across generations.

The Temple Jewellery Classics collection represents a unique heritage offering. PNG uses design archives and templates ('dyes') that are over 100 years old, inherited from previous generations. These archival templates ensure authenticity in traditional patterns and motifs. The craftsmanship is performed by 'karigars' (artisans) from families that have practiced these crafts for generations, maintaining stylistic integrity that cannot be replicated through modern manufacturing alone. The collection includes religious and temple-motif pieces: heavy necklaces starting from around 46 grams, elaborate chokers, traditional hair ornaments, waist belts (kamarbands), anklets, and other ceremonial pieces. These designs tend to be heavier and more ornate, reflecting the grand aesthetic of traditional Maharashtrian celebrations.

Beyond traditional offerings, PNG has developed contemporary collections that appeal to modern customers. The Sanskruti collection celebrates traditional designs with contemporary execution, bridging heritage and modernity. Quorra offers contemporary minimalist aesthetics for young professionals seeking everyday elegance. The Quench collection features diamond jewellery for customers aspiring to own certified diamond pieces. Lumina showcases sparkling designs that capture and reflect light beautifully. The 'Light Style' collection specifically targets younger customers and everyday wear occasions with lighter weights, modern designs, hollow beads, and laser filigree techniques that create visual impact without heavy investment.

PNG has also developed sub-brands to address specific market segments. Gargi is their fashion costume jewellery line, while Utsaav by Gargi targets modern bridal fusion styles. The Theva Jewellery Collection celebrates Maharashtrian festivals and occasions with themed designs. These extensions demonstrate PNG's understanding that different customers have different needs and that a single design philosophy cannot serve all segments effectively.

Making charges at PNG Jewellers range from ₹200 to ₹500 per gram, which is remarkably competitive for a heritage brand approaching 200 years of history. This pricing reflects PNG's commitment to accessibility - ensuring that families across economic segments can purchase quality traditional jewellery from a trusted source. The competitive pricing is achieved through efficient manufacturing, scale economies in their core market, and the family's philosophy of building long-term customer relationships over maximizing short-term margins. For a typical Maharashtrian wedding where the bride's family purchases substantial gold jewellery, PNG's competitive pricing can result in significant savings compared to national chains while providing equivalent or superior quality and authentic traditional designs.

Quality assurance at PNG follows rigorous standards. All gold jewellery is BIS hallmarked with certified purity, and customers can verify gold content using in-store equipment. Diamond jewellery features certified stones from reputable laboratories. The company maintains its own diamond manufacturing unit in Mumbai, enabling quality control from rough stone to finished setting. Transparent billing practices detail gold weight, current gold rate, making charges, stone charges, and applicable taxes, ensuring customers understand their purchase completely.

PNG's retail experience is designed to honor tradition while providing modern convenience. In March 2025, PNG & Sons reopened their historic showroom on Laxmi Road in Pune - a symbolic return to ancestral roots. This 5,000 square foot showroom sells gold, diamond, and silver jewellery while underscoring their commitment to hallmarking and transparency. Other showrooms across Maharashtra maintain consistent standards while adapting to local preferences and requirements. The shopping experience emphasizes family consultation, with private areas where families can browse collections together and make decisions without time pressure.

The brand has adapted to changing market conditions, including the significant rise in gold prices that crossed ₹1 lakh per 10 grams in 2025. Consumer preferences have shifted toward lightweight, lifestyle jewellery, use of lower karats, and options like gold coins or exchange of old jewellery. PNG has responded with expanded lightweight collections, fashion-forward designs at accessible weights, and flexible exchange policies that allow customers to convert old jewellery into new designs. Their acknowledgment and response to these trends demonstrates the agility that has enabled the business to survive and thrive for nearly 200 years.

PNG offers gold savings schemes that help customers plan for significant purchases like wedding jewellery. These schemes allow monthly deposits with bonus benefits upon completion, essentially functioning as dedicated savings plans with gold as the end goal. For Maharashtrian families planning weddings, these schemes enable systematic accumulation over 1-2 years, making substantial wedding jewellery purchases manageable for middle-class budgets.

The exchange policy at PNG supports customers throughout their jewellery journey. Lifetime exchange for PNG jewellery at full gold value enables upgrades and modifications as preferences evolve. Old gold from other sources is accepted with purity testing and fair valuation. This flexibility transforms jewellery from a one-time purchase into an evolving collection that can be modified to reflect changing tastes and family circumstances.

For customers in Maharashtra, particularly Pune and surrounding regions, PNG represents the default choice for traditional Maharashtrian jewellery. The combination of nearly 200 years of heritage, eight generations of family craftsmanship, authentic traditional designs preserved through archival templates and generational artisan knowledge, competitive pricing, and public company accountability creates an unmatched value proposition. Whether purchasing an elaborate bridal trousseau for a traditional Marathi wedding, contemporary pieces for daily wear, or investment gold coins, customers can trust PNG to deliver quality, authenticity, and fair dealing - principles that have guided the Gadgil family since 1832.