The Company was originally incorporated as ‘Shilvi Jewels Private Limited’ on September 22, 2005 under the Companies Act, 1956 vide certificate of incorporation issued by the Registrar of Companies, Gujarat, Dadra and Nagar Havelli. Subsequently, the name of company was changed to ‘Palm Jewels Private Limited’ on October 28, 2016 under the Companies Act, 2013 vide certificate of incorporation issued by the Registrar of Companies, Gujarat, Dadra and Nagar Havelli. Thereafter, the Company was converted in to a public company and consequently name was changed to ‘Palm Jewels Limited’ (PJL) vide fresh certificate of incorporation dated February 21, 2018 issued by Registrar of Companies, Gujarat, Dadra and Nagar Havelli.

Business area of the Company:

They are engaged in the wholesale business of gold jewellery. Their registered office and business of operation is based in Ahmedabad. They essentially sell gold based chains, bracelets and necklaces. They outsource the manufacturing of their jewellery through job workers based in Ahmedabad and Mumbai. The major raw material used for making products is gold & silver. They procure gold & silver majorly through the bullion market and partially from the local markets in Ahmedabad. Gold bars and other necessary material are provided to the job workers who are based either in Ahmedabad and Mumbai. However, no formal agreement has been executed with either of these job workers. The finished jewellery is sold by the marketing and sales team directly to other jewellery stores. Their jewellery is widely sold throughout Gujarat only through B2B marketing and/ or Direct/Outbound marketing strategy.