PC Jeweller Limited shareholders approved two key resolutions at the company's 21st Annual General Meeting (AGM) held on September 30, 2026. The meeting was conducted via Video Conferencing / Other Audio Visual Means, with the registered office in New Delhi serving as the deemed venue.

The first resolution, an ordinary resolution, involved receiving and adopting the audited standalone and consolidated financial statements for the fiscal year ended March 31, 2026, along with the Board of Directors' and Statutory Auditor's reports. The second resolution concerned the re-appointment of Vishan Deo (DIN: 07634994) as a director retiring by rotation.

Voting participation and turnout

The meeting recorded a total of 9,741,084,855 outstanding equity shares eligible for voting. Out of these, votes were polled on 3,916,154,582 shares for the first resolution and 3,917,059,008 shares for the second, representing a turnout of approximately 40.2% of the total share capital.

Participation was heavily skewed towards the promoter group. For both resolutions, the Promoter and Promoter Group, holding 3,768,565,960 shares, voted on 99.91% of their holdings. In contrast, public institutional investors voted on only about 9% of their total holdings, while public non-institutional investors participated on less than 0.5% of their shares.

Resolution outcomes

Both resolutions passed with the requisite majority. The adoption of financial statements saw significant dissent from institutional investors, whereas the director re-appointment received near-unanimous support from that group.

What the numbers show

A distinct divergence exists in how different shareholder categories voted on the two resolutions. While the adoption of financial statements faced substantial opposition from public institutions (128,310,025 votes against, constituting 99.17% of their polled votes), the re-appointment of Vishan Deo received overwhelming support from the same group (125,990,987 votes in favour, or 96.70%).

This suggests that institutional investors may have had specific concerns regarding the financial disclosures or governance aspects covered in the first resolution, while remaining satisfied with the board composition represented by the second resolution. The promoter group maintained a unified front, voting unanimously in favour of both items.

PC Jeweller Limited has appointed Soumil Garg as an Additional Director and Whole-time Director with effect from October 1, 2026. This move follows the acceptance of the resignation of Ramesh Kumar Sharma, who served as a Director and Whole-time Director.

The Board of Directors approved these changes at its meeting held on September 30, 2026. Soumil Garg is the son of Balram Garg, the Promoter and Managing Director of the company. His appointment is subject to approval by members at the next general meeting or within three months, whichever is earlier.

Leadership Transition Details

Soumil Garg holds an MA in International Business from Regents University London and a BBA from Swiss Business School. He brings seven years of experience in the jewellery business, covering product design, procurement, and market trend evaluation. He will serve as a Whole-time Director for a period of five consecutive years.

Ramesh Kumar Sharma resigned citing medical advice after more than 19 years with the organization. Consequently, he ceased to be a member of the Stakeholders Relationship Committee, Risk Management Committee, Corporate Social Responsibility Committee, and Management & Finance Committee.

Senior Management Changes

The company also announced several changes in senior management roles, effective October 1, 2026:

• Kumar Deoratan Singh appointed as Chief Technical Officer. He has over 20 years of experience in IT management and digital transformation.
• Pawandeep Kaur appointed as President (Business Development). She has 13 years of experience in hospitality, media, and aviation.
• Vivek Jain resigned as Chief Information Officer to move out of the country.
• Kuldeep Singh resigned as President (Accounts) due to personal reasons involving relocation from Delhi.

Committee Reconstitutions

To align with the new board composition, several committees were reconstituted:

Vishan Deo, Executive Director (Finance) & CFO, was also appointed as the Nodal Officer for verification of claims and coordination with the Investor Education and Protection Fund Authority.