P N Gadgil Jewellers Limited has informed the Exchange regarding Proceedings of Annual General Meeting held on August 18, 2025
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P N Gadgil Jewellers held its 12th AGM on August 18, 2025, via video conferencing from 3:00 PM to 4:04 PM. The meeting covered 13 resolutions, including adoption of audited standalone and consolidated financial statements for FY ending March 31, 2025, and re-appointment of Mr. Parag Gadgil as Executive Director. Shareholders were asked to approve special resolutions to increase the company's borrowing limit, create charges on company assets, revise the Managing Director's remuneration, designate three directors as Whole-time Directors (Kiran Firodiya, Radhika Gadgil, and Parag Gadgil), and waive recovery of excess managerial remuneration paid to Kiran Firodiya. A special resolution was also tabled to raise funds through the issuance of equity shares, along with the appointment of a new Independent Director (Purushottam Bedekar) and approval of remuneration for a related party. The Statutory and Secretarial Auditors' reports contained no qualifications or adverse remarks.
The agenda signals potential equity dilution through the proposed share issuance and a higher debt ceiling, which could affect shareholder value depending on the use of proceeds. The restructuring of director roles and remuneration, including a waiver of excess managerial pay, reflects governance changes that shareholders should watch closely. Voting results for all 13 resolutions will be submitted to the stock exchanges separately and will determine the final outcome of each proposal.