P N Gadgil Jewellers Limited has successfully completed its postal ballot process, with shareholders approving the appointment of Mr. Aditya Saurabh Gadgil as a Non-Executive Non-Independent Director. The resolution was passed with overwhelming shareholder support on March 27, 2026, demonstrating strong confidence in the company's leadership expansion.

Official Scrutinizer Report and Compliance

The postal ballot process concluded on March 27, 2026, at 05:00 P.M. (IST), with A S Desai & Associates, Company Secretaries, serving as the appointed scrutinizer. The company engaged National Securities Depository Limited (NSDL) as the e-voting service provider to facilitate the remote voting process through their website.

Resolution Details and Comprehensive Voting Results

The ordinary resolution for appointing Mr. Aditya Saurabh Gadgil (DIN: 10052553) as a Non-Executive Non-Independent Director received substantial shareholder approval across all categories. The scrutinizer's report confirmed that 299 members voted in favor of the resolution, casting 11,43,90,237 votes representing 96.52% of total valid votes.

Detailed Voting Breakdown by Category

Process Timeline and Regulatory Compliance

The postal ballot process adhered to all regulatory requirements under the Companies Act, 2013, and SEBI Listing Regulations. The company ensured complete transparency and compliance throughout the voting process.

The newspaper advertisement was published in Business Standard (English), Tarun Bharat (Marathi), and Loksatta (Marathi) to ensure wide dissemination of information to shareholders. The appointment of Mr. Aditya Saurabh Gadgil as Non-Executive Non-Independent Director represents a strategic addition to the company's board structure, with the resolution passing with the requisite majority as confirmed by the scrutinizer's comprehensive report.

P N Gadgil Jewellers marked a significant milestone with the successful launch of its new store in Varanasi on March 27, 2026, further strengthening its presence in Central India. The grand opening ceremony of this 6000 sq ft store on Sigra Chauraha Road was graced by renowned actress and brand ambassador Madhuri Dixit, adding to the celebratory spirit of the occasion.

Store Details and Location

The Varanasi store represents PNG Jewellers' strategic expansion into culturally rich markets, becoming the company's 76th overall store and 4th store in Uttar Pradesh. Located in a prime retail area at Sigra Chauraha Road, the store is positioned to serve the city's vibrant jewellery market.

Product Collections and Offerings

The store showcases an extensive range of gold, diamond, and bridal jewellery, thoughtfully curated to cater to the tastes and traditions of the region. Featuring some of the brand's most sought-after collections including Saptam, Katha, Pratha, Eiina, and Polmi, the store offers collections suited for weddings, festive occasions, and everyday elegance.

Inaugural Offers and Customer Response

To celebrate the launch, PNG Jewellers introduced exclusive limited-period inaugural offers, including flat 50% off on gold jewellery making charges and flat 100% off on diamond jewellery making charges. These promotional offers received an enthusiastic response from customers and led to strong footfall, making it an ideal time for both everyday and wedding jewellery purchases.

Management and Celebrity Statements

Dr. Saurabh Gadgil, Chairman and Managing Director of PNG Jewellers, said, "The launch of our Varanasi store is an important step in our journey of expanding across culturally rich markets in India. Varanasi holds deep traditional significance, and we are delighted to bring our legacy of trust and craftsmanship to this city. The overwhelming response from customers reaffirms our belief in the region's potential and strengthens our commitment to serving them with excellence."

Madhuri Dixit added, "It is truly special to be part of PNG Jewellers' expansion into a city as culturally vibrant as Varanasi. The brand's legacy of trust and beautiful craftsmanship resonates strongly with customers, and it is wonderful to see such an enthusiastic response at the launch. I wish the team continued success as they reach new milestones across the country."

Strategic Market Positioning

Varanasi, located on the sacred Ganga River, is known for its deep spiritual culture, devotion to Lord Shiva, and grand festivals like Dev Deepawali. Jewellery in the city holds strong cultural and emotional value, especially during weddings and religious occasions, and is often linked to beliefs in prosperity associated with Lakshmi. For PNG Jewellers, building a strong presence here means offering designs inspired by local preferences, connecting with festive and spiritual sentiments, and becoming a part of the city's rich cultural and bridal traditions.

With this launch, PNG Jewellers continues to build on its nearly two-century-old legacy, bringing its hallmark of purity, design excellence, and customer trust to newer markets while enhancing the overall jewellery retail experience.

Source: Company/INE953R01016/aa8d457e-7e07-43e5-876e-5d4e1528f513.pdf