Shanti Gold International passed all resolutions at its 13th Annual General Meeting held on September 28, 2026. The meeting, conducted via video conferencing, saw unanimous approval for key corporate actions, including the adoption of FY26 financial statements and an increase in borrowing powers.

Key Resolutions Passed

The company secured requisite majorities for both ordinary and special business items. Notably, shareholders approved the increase in borrowing powers under Section 180(1)(c) of the Companies Act, 2013, and the creation of charges on company assets for borrowings under Section 180(1)(a). These moves signal a potential expansion in the company's debt capacity and operational financing flexibility.

Voting Participation Details

The e-voting period ran from September 25 to September 27, 2026. A total of 54,975,820 votes were cast across the resolutions, representing approximately 71.64% of the total outstanding shares. The promoter and promoter group held 53,989,200 shares, casting 100% of their votes in favor of all resolutions.

Public institutions voted on 945,600 shares, while public non-institutional shareholders participated with approximately 41,020 shares on most items. The low volume of public non-institutional voting highlights the significant influence of the promoter group on corporate governance outcomes.

What the Numbers Show

The voting data reveals a near-total alignment between the promoter group and the outcome of the AGM. The promoter group's holding of 53,989,200 shares constitutes roughly 70.3% of the total shares represented in the vote count (based on the ~76.7 million total outstanding shares implied by the percentage calculations). Consequently, their unanimous support effectively guaranteed the passage of all resolutions, rendering the marginal dissent from a few public shareholders (73 and 62 votes against on special resolutions) statistically insignificant.

Shanti Gold International Ltd reported a 159% jump in profit after tax to ₹140.15 crore for FY26, marking a significant milestone following its recent public listing.

The company’s revenue from operations expanded 82.5% to ₹2,018 crore in FY26, compared to ₹1,106 crore in FY25. This growth was accompanied by a substantial rise in EBITDA, which grew 121.31% to ₹199 crore from ₹89.92 crore in the previous fiscal year.

Operational Highlights and Strategy

During the 13th Annual General Meeting held on September 28, 2026, Chairman and Managing Director Pankajkumar Jagawat highlighted FY26 as a landmark year. The period saw the successful completion of the company’s IPO and the listing of its equity shares on the BSE and NSE in August 2025.

Jagawat emphasized that the company continues to strengthen its core business of manufacturing and supplying gold jewellery to leading organised retailers. Key operational developments include:

• Expansion into new jewellery categories backed by in-house design and CAD/CAM capabilities.
• Commencement of commercial production at the new Marol facility in June 2026.
• Upcoming capacity addition at the Jaipur facility located at Mahindra World City.

The management outlined a four-pronged growth strategy focused on deepening existing customer relationships, expanding the product portfolio, scaling manufacturing capacity, and investing in design, technology, and human resources.

Financial Performance Overview

What the Numbers Show

A divergence between top-line and bottom-line growth indicates improved operating leverage. While revenue grew 82.5%, EBITDA surged 121.31%, suggesting that incremental sales were generated with disproportionately lower cost increases. Consequently, net profit grew faster than EBITDA, reflecting efficient cost management or favorable non-operating items during the transition to a listed entity.

AGM Proceedings and Resolutions

The meeting was conducted via Video Conferencing/Other Audio Visual Means (VC/OAVM) with 36 members attending. The Board approved several key resolutions:

1. Adoption of audited financial statements for FY26.
2. Re-appointment of Shashank Jagawat as Non-Executive Director retiring by rotation.
3. Increase in borrowing powers under Section 180(1)(c) of the Companies Act, 2013.
4. Creation of charge or security on assets for borrowings under Section 180(1)(a).

No queries were raised by pre-registered shareholders during the interaction session. The meeting concluded at 3:26 pm.