PNGS Gargi Fashion Jewellery Secures BSE Approval for Promoter Reclassification, Faces Warning for Delayed Disclosure
PNGS Gargi Fashion Jewellery Limited obtained BSE approval to reclassify certain individuals from 'Promoter/Promoter Group' to 'Public' category. The application was submitted on July 20 and approved on July 24, 2023. However, BSE issued a warning to the company for delayed disclosure of this material event, as the announcement was made on July 23. The company's Secretary acknowledged the approval and warning, indicating steps towards transparency and compliance.
PNGS Gargi Fashion Jewellery Limited received BSE approval to reclassify certain individuals from 'Promoter/Promoter Group' to 'Public Category'. The company was warned for delayed compliance in disclosing the reclassification application. The 16th AGM is scheduled for August 1, with a corrigendum issued for a proposed preferential issue of equity shares to promoter and non-promoter individuals. The preferential issue includes allotments to both public and promoter categories, with no anticipated change in control or management.
PNGS Gargi Fashion Jewellery's board has approved the release of up to 112,500 shares priced at ₹970.00 each, potentially raising ₹109.10 crore. This move in the fashion jewellery sector could indicate plans for capital raising and growth strategies.
PNGS Gargi Fashion Jewellery announced strong Q4 results with significant year-over-year growth. Net profit increased by 78.26% to ₹41.00 crore, revenue grew by 47.40% to ₹227.00 crore, and EBITDA rose by 46.88% to ₹47.00 crore compared to the same quarter last year. The EBITDA margin slightly decreased to 20.70%. However, the company experienced a quarter-over-quarter decline in net profit, decreasing by 54.95% from the previous quarter.
08Mar 25
PNGS Gargi Fashion Jewellery Expands Retail Footprint with New Store in Chhatrapati Sambhaji Nagar
PNGS Gargi Fashion Jewellery Limited (BSE: 543709) has opened a new exclusive brand store in Chhatrapati Sambhaji Nagar's Prozone Mall. The store, located at Unit No. G-42 on the Ground Floor, is set to open on March 8, 2025. This expansion is part of the company's strategy to enhance its market reach and strengthen its physical retail network. The move demonstrates the company's confidence in brick-and-mortar retail and its efforts to increase brand visibility, tap into new customer segments, and improve customer engagement in the fashion jewellery sector.