In terms of regulation 34(1) of the SEBI (LODR) Regulations, 2015, Annual Report of the Company for the Financial year 2024-25 is attached herewith.
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PNGS Gargi Fashion Jewellery Limited has submitted its Annual Report for FY 2024-25 along with the notice for its 16th Annual General Meeting scheduled for August 1, 2025 via video conferencing. The company operates 33 franchise stores with P. N. Gadgil & Sons Limited, 50 shop-in-shop outlets, and 14 exclusive brand stores, with a market capitalization of Rs. 954.19 crores as of December 31, 2025. The company's stock traded in a wide range during FY25, from a low of Rs. 511 (June 2024) to a high of Rs. 1,516.75 (January 2025). Three special business items are on the AGM agenda: approval of material related party transactions with P. N. Gadgil & Sons (up to Rs. 200 crore) and PNGS Reva Diamond Jewellery (up to Rs. 80 crore), and a preferential allotment of 1,12,500 equity shares at Rs. 970 per share (aggregating Rs. 10.91 crore), of which 90,000 shares go to promoters Govind Gadgil and Renu Gadgil. The company was also awarded the 37th CFBP Jamnalal Bajaj Uchit Vyavhar Puraskar for Fair Business Practices.
Shareholders will vote on significant related party transactions totaling up to Rs. 280 crore and a Rs. 10.91 crore preferential issue largely favoring promoters, which could lead to minor dilution. The strong store expansion and rising share price suggest business momentum, but the heavy related party dealings warrant scrutiny.