Brands
Gargi by PNGS crosses five billion rupees market cap in 13 months
Mumbai: Gargi by P N Gadgil & Sons (PNGS) has experienced remarkable growth since its listing on the stock exchange. The company has set new standards for the fashion jewellery industry in India through its high-quality designer pieces, which are both affordable and unique. In a short span of time, it has received an incredible response from customers and investors alike, delivering over 1700 per cent returns in the last 13 months.
The love of Indian consumers for jewellery is almost unparalleled globally. However, when it comes to affordable everyday wear jewellery, there are very few options to choose from. Typically, fashion jewellery manufacturers operate in the unorganized sector, with designs and product quality remaining low and unremarkable.
This is where a significant market gap was noticed for high-quality, affordable designer jewellery suitable for daily wear. Gargi by PNGS was established with a mission to fill this gap, offering an extensive range of designer jewellery made of brass, sterling silver, gold, and even diamonds, with prices starting under Rs 1,000 (Gargi’s gold and diamond jewellery offerings are priced in the range of Rs 5,000-50,000).
Speaking about the brand’s success and market reception, Gargi by PNGS co-founder Aditya Modak said, “Right from the outset, our vision was to build a customer-centric brand that could bring about much-needed changes in the fashion jewellery market in India. We have a rich legacy from our parent brand that has been around for almost 200 years, and our products have instantly resonated with the target audience due to the excellent quality and designs, making the wearer proud of their choices. To formalize our commitment to the segment, we listed on the stock exchange in December 2022 at an IPO of 30 rupees, and our share prices have constantly risen since then. On December 20th, 2023, our market cap was Rs 406 Cr at a share price of 422. Within 15 days, PNGS GARGI FASHION JEWELLERY LTD traded at Rs 534, giving the company an Rs 515 Crore Market Cap. This reflects the great trust that Gargi has generated in the market as a long-term sustainable brand, and we remain committed to continuously delivering value to our customers and shareholders alike.”
Named after the ancient Indian female scholar from the Ramayana era, Gargi is also one of the names of Goddess Durga. Drawing from both, Gargi has created masterpieces that create an aura of the wearer being beautiful, honest, stylish, fearless, and scholarly. Based on the iconic P N Gadgil & Sons brand, an entity with over rupees Rs 10,000 crore in annual turnover, Gargi has maintained similar operational excellence, customer understanding, and quality. The brand has many interesting line-ups and expansions planned for the financial year 2024-25.
Brands
Ather Energy doubles service network to 500 centres nationwide
EV maker scales support alongside growth to keep riders on the road
MUMBAI: Ather Energy is quietly building more than just scooters. It is building the backbone to keep them running.
The electric two-wheeler maker has expanded its service network to 500 authorised centres across India, nearly doubling its footprint in a year from 277. The move mirrors its growing retail presence and signals a clear focus on one often overlooked part of EV ownership, what happens after the purchase.
From the outset, Ather has prioritised service support in every city it enters, aiming to make ownership as smooth as the ride itself. Its Gold Service Centres bring in upgraded customer lounges, modern equipment and processes designed to make servicing more transparent and reliable.
Speed, too, is part of the pitch. Through its ExpressCare initiative, riders can get periodic maintenance done in about an hour, now available across 82 centres, turning what used to be a chore into a quick pit stop.
Ather Energy chief business officer Ravneet Singh Phokela said, “Crossing 500 service centres is an important milestone as we scale across the country. Reliable after-sales support is central to the ownership experience, and our focus remains on consistent service quality and accessibility.”
The expansion comes as demand grows for models like the Ather 450 and the Rizta, which have helped the company reach a broader set of riders across metros and emerging cities alike.
Alongside servicing, Ather continues to power up infrastructure through the Ather Grid, now one of the largest fast-charging networks for two-wheelers, with over 4,300 charging points.
With plans to scale further and deepen its presence, Ather’s approach is clear. Selling the scooter may start the journey, but keeping it running smoothly is what sustains it.
