Penta Gold Ltd Company Summary

Penta Gold Ltd Summary

Penta Gold Limited was incorporated as a Private Limited Company with the name Penta Gold Private Limited on March 12, 2012. Subsequently, the Company was converted into a public limited company and the name of the company was changed to Penta Gold Limited on March 22, 2017.Penta Gold is a retailer, wholesaler and exporter of gold jewellery. The Company has a retail outlet in Mumbai. The Company also export its products (gold jewellery studded with diamond) to overseas buyers. The Company also sells its products to wholesalers domestically. The Company primarily sells gold jewellery i.e. Chains, Rings, Bangles, Necklace, Mangalsutra, Bracelet, Earrings and other jewellery studded or non-studded with pearls, diamonds, American diamonds and other precious stones. It also has product line of antique and kundan Jewellery. Further, It also has variety of Italian jewellery products which is famous for its machine designs and light weighted jewellery.In 2012, the Company opened its retail outlet in Mumbai. It majorly procure required gold from various banks. It procure gold and precious stones from local markets. They are located in jewellery hub of Mumbai which give them an added advantage in terms of procurement.It outsource manufacture of jewellery to various domestic corporate, local artisans and craftsmen. It supply raw material to the job workers who in turn take 7 to 10 days for manufacturing the Jewellery depending upon the size and design of the order.Apart from these, the Company get its required jewellery manufactured from third party job workers using gold, polished diamonds and other semi precious and precious stones. Their operations include product development, getting the products manufactured based onorders received from customers on jobwork basis from third party job workers (in the required quality in karatage), packing as per customer requirement and dispatching the same. The final jewellery received from the Job workers is checked for any metal or diamond defects. In case of minor defects they are sent for rework, but in case of major defects if they cannot be worked upon, the pieces are rejected. The final jewellery pieces after another round of quality checks and are forwarded to the packaging division.The Company products are primarily exported to countries such as the U.A.E and USA. They have received the registration as One Star Export House from Directorate General of Foreign Trade, Ministry of Commerce & Industry, Government of India. The Company in March, 2018 came up with a Public Issue of 36,00,000 Equity Shares by raising equity capital amounting to Rs 13.32 Crores.