Shanti Gold International Limited's Board of Directors has approved the re-appointment of two senior executives for extended five-year terms, reinforcing leadership continuity in the jewelry manufacturing company. The decision was made during a board meeting held on March 19, 2026, based on recommendations from the Nomination and Remuneration Committee.

Board Approvals and Key Appointments

The board approved two significant re-appointments that will shape the company's leadership through 2031:

Both appointments include increased remuneration effective from February 01, 2026, and require approval from shareholders through a postal ballot process.

Leadership Profiles and Experience

Mr. Pankajkumar Jagawat, aged 52 years, brings over 25 years of experience in the jewelry manufacturing and trading industry. He has been affiliated with the company since its inception and plays an integral role in business development. His responsibilities encompass:

• Factory operations oversight
• Financial activities management
• Budgeting and working capital management

Mr. Manojkumar Jain, aged 50 years, is described as a seasoned entrepreneur who has also been with the company since its inception. With over 20 years of extensive experience in jewelry manufacturing, his expertise spans:

• Product development and sourcing
• Quality control and operations management
• Market trends analysis and customer preferences

Corporate Governance and Compliance

Both directors meet all regulatory requirements for their positions. The company confirmed that neither Mr. Jagawat nor Mr. Jain is related to any other directors or key managerial personnel, ensuring independence in governance structure.

Meeting Details and Regulatory Notifications

The board meeting commenced at 04:00 p.m. IST and concluded at 04:45 p.m. IST on March 19, 2026. The company has informed both BSE Limited and National Stock Exchange of India Limited about these developments in compliance with Regulation 30 of the SEBI Listing Regulations.

The formal notification was signed by Company Secretary & Compliance Officer Vrushti Shah and uploaded on the company's website. The re-appointments reflect the board's confidence in the existing leadership team's ability to drive the company's growth in the competitive jewelry manufacturing sector.

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.