Shanti Gold International Limited has issued a postal ballot notice for the re-appointment of two key directors, following the board's earlier approval for extended five-year terms. The company has completed newspaper publication requirements under Regulation 30 and set the e-voting period from March 25, 2026 to April 23, 2026, enabling shareholders to vote electronically on the proposed resolutions.

Regulatory Compliance and Publication

The company has fulfilled its regulatory obligations by publishing the postal ballot notice in newspapers on March 25, 2026:

Company Secretary Vrushti Shah has formally communicated the newspaper publication to both BSE Limited (Scrip Code: 544459) and National Stock Exchange of India Limited (Symbol: SHANTIGOLD) as required under SEBI Listing Regulations.

Board Approvals and Postal Ballot Process

The board had earlier approved two significant re-appointments during its meeting on March 19, 2026, based on recommendations from the Nomination and Remuneration Committee:

The postal ballot notice, dated March 19, 2026, seeks shareholder approval for both ordinary resolutions through electronic voting only. The cut-off date for determining eligible voters is Friday, March 20, 2026, with notice dispatch completed on Tuesday, March 24, 2026.

Enhanced Remuneration Structure

Both directors will receive significantly increased remuneration effective February 01, 2026:

This represents a substantial increase from their previous remuneration of ₹1,08,30,000 per annum, reflecting the company's improved profitability and their expanded responsibilities.

E-voting Process and Timeline

The company has engaged National Securities Depository Limited (NSDL) to provide remote e-voting facilities. Key dates and details include:

Shareholders whose email addresses are registered with the company or depositories will receive the postal ballot notice electronically. The notice is also available on the company's website at www.shantigold.in and stock exchange websites.

Corporate Governance and Compliance

The postal ballot process ensures compliance with Section 108 and 110 of the Companies Act, 2013, and SEBI Listing Regulations. Both directors meet all regulatory requirements:

The resolutions, if approved by requisite majority, will be deemed passed on April 23, 2026. The company has ensured full regulatory compliance throughout the process, including timely newspaper publication and stock exchange notifications.

Shanti Gold International Limited delivered exceptional performance in Q3 FY26, with revenue surging 110.06% year-on-year to Rs 636.93 crores compared to Rs 303.22 crores in Q3 FY25. The company held its earnings conference call on February 11, 2026, highlighting strong operational execution and growing scale of operations with organized jewellery retailers.

Strong Financial Performance

The company's financial metrics demonstrated robust growth across all parameters during the quarter:

For the nine-month period of FY26, the company achieved revenue of Rs 1,359.78 crores compared to Rs 809.12 crores in the corresponding period of FY25, registering growth of 68.06%. The nine-month volume reached 1,285 kg, reflecting 12% growth year-on-year.

Nine-Month Performance Highlights

The extended period performance showcased sustained momentum:

Major Capacity Expansion Plans

The company announced significant capacity expansion to meet growing demand from organized retailers:

Chairman and Managing Director Pankajkumar Jagawat stated that the expanded capacity will enhance the company's ability to offer broader design portfolio, process higher volumes effectively, and respond to changing customer behavior while supporting gradual shift in product mix and operating leverage.

Product Portfolio Expansion

The company has diversified its product offerings during the quarter, introducing a new line of plain gold jewellery aimed at the mass market segment. This new offering aligns with affordability-led demand and contributed meaningfully to incremental volume growth. The company also announced plans to enter the Mangalsutra jewellery category, representing a structural and culturally significant segment.

Export Growth Strategy

Shanti Gold is expanding its international presence with plans to increase export revenue from current 4% to 10% of total revenue:

Credit Rating Upgrade

The company received a credit rating upgrade from CARE Ratings, with long-term bank facility rating improved from BBB+ to A- stable, and short-term facility rating at A2+. This upgrade reflects improved operating performance, strengthened balance sheet position, and disciplined working capital management.

Looking ahead, the company expects 60-70% revenue growth in FY27, supported by the new capacity additions and strong demand visibility from organized retail partners. The management maintains PAT margin guidance of around 4% as the company balances high-margin bridal jewellery with new mass market product lines.