ASHAPURI GOLD ORNAMENT LIMITED (CIN: L36910GJ2008PLC054222)

AGM Details

  • Meeting Date: Friday, October 30, 2026
  • Time: 12:00 PM IST
  • Mode: Video Conferencing/Other Audio Visual Means
  • Cut-off date for e-voting: October 23, 2026
  • Register of members closure: October 24, 2026 to October 30, 2026 (both days inclusive)
  • Remote e-voting period: October 27, 2026 (09:00 AM IST) to October 29, 2026 (05:00 PM IST)

Ordinary Business Items

1. Adoption of Financial Statements

  • To receive, consider and adopt audited financial statement for the financial year ended March 31, 2026
  • To adopt the statement of profit and loss for the year ended March 31, 2026

2. Director Appointment

  • Appointment of Shri Jitendrakumar Saremal Soni (DIN: 01795752) as director who retires by rotation
  • He offers himself for re-appointment

3. Auditor Reappointment

  • Reappointment of M/s. Shivam Soni & Co., Chartered Accountants (ICAI Firm Registration No. 152477W)
  • As statutory auditor for second term of 5 years
  • Tenure: from conclusion of this AGM till conclusion of 23rd AGM in 2031

Special Business Items

4. Independent Director Reappointment

  • Reappointment of Shri Saurabh Govindbhai Patel (DIN: 09445561) as Non-Executive Independent Director
  • For second and final term of 5 years effective from December 30, 2026 to December 29, 2031
  • Current tenure expires on December 30, 2026
  • Received declaration of independence under Section 149(6) of Companies Act, 2013

5. Remuneration Revision - Saremal Champalal Soni

  • Revision in remuneration of Shri Saremal Champalal Soni, Chairman and Managing Director
  • Effective from April 01, 2026
  • Overall maximum remuneration: Up to ₹10 crore per annum
  • Includes basic pay, HRA, perquisites, other allowances, employer PF contributions
  • In case of inadequate profits, to be paid as minimum remuneration
  • Requires special resolution as it exceeds Schedule V limits

Background Details:

  • Promoter and Managing Director since January 01, 2019
  • Reappointed w.e.f. January 01, 2024
  • Education: Higher Secondary Education from Rajasthan Higher Education Board
  • Experience: 30 years in jewellery industry, 35 years in accounting
  • Current remuneration (2025-26): ₹1.75 crore
  • Looks after finance & administrative activities

6. Remuneration Revision - Dineshkumar Saremal Soni

  • Revision in remuneration of Shri Dineshkumar Saremal Soni, Managing Director
  • Effective from April 01, 2026
  • Overall maximum remuneration: Up to ₹10 crore per annum
  • Includes basic pay, HRA, perquisites, other allowances, employer PF contributions
  • In case of inadequate profits, to be paid as minimum remuneration

Background Details:

  • Promoter and Managing Director since January 01, 2019
  • Reappointed w.e.f. January 01, 2024
  • Age: 48 years
  • Education: Bachelor of Commerce from Gujarat University
  • Experience: Started company in 2008
  • Current remuneration (2025-26): ₹2.50 crore
  • Looks after manufacturing, purchase, and overall management operations

7. Remuneration Revision - Jitendrakumar Saremal Soni

  • Revision in remuneration of Shri Jitendrakumar Saremal Soni, Joint Managing Director
  • Effective from April 01, 2026
  • Overall maximum remuneration: Up to ₹10 crore per annum
  • Includes basic pay, HRA, perquisites, other allowances, employer PF contributions
  • In case of inadequate profits, to be paid as minimum remuneration

Background Details:

  • Promoter and Joint Managing Director since January 01, 2019
  • Reappointed w.e.f. January 01, 2024
  • Age: 45 years
  • Education: Bachelor of Commerce from Gujarat University
  • Experience: 20+ years in jewellery industry
  • Current remuneration (2025-26): ₹2.50 crore
  • Supervises compliance, sales, marketing & human resources

8. Related Party Transactions Approval

  • Approval for material related party transactions exceeding ₹31.74 crore annually
  • Covers transactions from FY 2026-27 to FY 2030-31
  • Transactions require member approval under Regulation 23 of SEBI Listing Regulations

Financial Performance Context

The company reported strong financial performance justifying remuneration revisions:

  • Net Worth: ₹166.75 crore (2025-26), ₹146.67 crore (2024-25), ₹89.96 crore (2023-24)
  • Profit After Tax: ₹18.56 crore (2025-26), ₹12.04 crore (2024-25), ₹7.67 crore (2023-24)
  • Industry: Ornaments and Jewellery
  • Export Performance: Not applicable
  • Foreign Collaborations: Not applicable

Related Party Transactions Details

A1. Mr. Jenik Dineshkumar Soni (CFO and Relative of Promoter)

  • Nature: Payment of salary as CFO
  • Duration: FY 2026-27 to FY 2030-31
  • Value: Up to ₹5 crore per annum
  • Percentage of turnover: 1.58% of standalone turnover

A2. Mrs. Nisha Jenik Soni (Product Manager)

  • Nature: Payment of salary
  • Duration: FY 2026-27 to FY 2030-31
  • Value: Up to ₹1 crore per annum

A3. Ms. Herina Dineshkumar Soni (Jewellery Designer)

  • Nature: Payment of salary
  • Duration: FY 2026-27 to FY 2030-31
  • Value: Up to ₹1 crore per annum

A4. Aadhira Retail Private Limited

  • Nature: Purchase and sale of precious metals, jewellery, stones
  • Duration: FY 2026-27 to FY 2030-31
  • Value: Up to ₹100 crore per annum
  • Percentage of turnover: 31.51% of standalone turnover

A5. Mr. Saremal Champalal Soni

  • Nature: Payment of rent for immovable property
  • Duration: FY 2026-27 to FY 2030-31
  • Value: Up to ₹3 crore per annum
  • Percentage of turnover: 0.95% of standalone turnover

A6. Ms. Flora J Soni (Social Media Manager)

  • Nature: Payment of salary
  • Duration: FY 2026-27 to FY 2030-31
  • Value: Up to ₹1 crore per annum

A7. Mrs. Alkaben J Soni (Senior HR Manager)

  • Nature: Payment of salary
  • Duration: FY 2026-27 to FY 2030-31
  • Value: Up to ₹1 crore per annum

A8. Mrs. Kiranben D Soni (HR Manager)

  • Nature: Payment of salary
  • Duration: FY 2026-27 to FY 2030-31
  • Value: Up to ₹1 crore per annum

A9. Arzish Goldcraft Private Limited

  • Nature: Purchase and sale of precious metals, jewellery, stones
  • Duration: FY 2026-27 to FY 2030-31
  • Value: Up to ₹500 crore per annum
  • Percentage of turnover: 157.63% of standalone turnover
  • Percentage of related party turnover: 69093.94% of Arzish Goldcraft's turnover

Voting Arrangements

  • e-Voting through NSDL platform
  • Scrutinizer: M/s. Mukesh H Shah & Co. (FCS 5827)
  • Results to be declared post-meeting and communicated to stock exchange
  • Members can join AGM through VC/OAVM 15 minutes before scheduled time
  • Facility available for 1,000 members on first-come-first-served basis

Document Availability

  • Notice and Annual Report available on company website: www.ashapurigold.com
  • Available on BSE website: www.bseindia.com
  • Available on NSDL website: www.evoting.nsdl.com
  • Documents available for electronic inspection without fee until October 30, 2026