Gargi Jewellery AGM reveals strong financial performance, expansion plans

PNGS Gargi Fashion Jewellery Limited's annual report for FY 2024-25 reveals a substantial increase in revenue and profitability. The company's revenue surged to INR 12634.80 lakhs, compared to INR 5050.94 lakhs in the previous year, while net profit reached INR 2880.68 lakhs, a significant jump from INR 845.85 lakhs in the prior year. This impressive growth is attributed to the company's expansion strategy, which included opening numerous new franchise stores, increasing the company’s presence to 33 franchise stores, along with 50 shop-in-shops and 14 exclusive brand outlets.

The company also reported a rise in basic and diluted earnings per share (EPS) to INR 28.62, up from INR 8.79 the previous year. As part of this growth, the Board has proposed to increase the authorized share capital from INR 10,00,00,000 to INR 20,00,00,000, and a special resolution has been passed to approve preferential allotment of Equity Shares up to INR 10,91,25,000 to specified investors. The company's shares are dematerialized and listed on the Bombay Stock Exchange (BSE) SME platform. The board has confirmed that none of the company's directors are disqualified and that they remain compliant with the Company's Code of Conduct policy. The firm emphasizes its commitment to corporate social responsibility and continues to allocate resources to sustainability initiatives.