AGM Details

The 32nd Annual General Meeting will be held on Saturday, September 26, 2026 at 04:00 PM IST through Video Conferencing/Other Audio-Visual Means. The cut-off date for determining members eligible to vote is Monday, September 21, 2026. Remote e-voting will be available from September 23, 2026 (9:00 AM) to September 25, 2026 (5:00 PM) through NSDL.

Business Items for AGM

Ordinary Business:

  • Adoption of audited financial statements for FY 2025-26
  • Re-appointment of Mr. Dhaval Satishkumar Gajjar (DIN: 07772542) as Director retiring by rotation
  • Appointment of M/s. P H Shah and Co, Chartered Accountants (FRN: 0115464W) as Statutory Auditors for 5 years

Special Business:

  • Appointment of M/s Madhav Upadhyay and Associates as Secretarial Auditors for 5 years (FY 2026-27 to 2030-31)

Financial Performance Highlights (FY 2025-26 vs FY 2024-25)

  • Revenue from Operations: ₹4,691.06 lakhs (↑242.17% from ₹1,370.99 lakhs)
  • Total Income: ₹4,863.96 lakhs (↑190.34% from ₹1,675.26 lakhs)
  • Profit Before Tax: ₹1,301.38 lakhs (↑716.22% from ₹159.44 lakhs)
  • Profit After Tax: ₹1,078.80 lakhs (↑683.44% from ₹137.70 lakhs)
  • Earnings Per Share: ₹1.08 (↑671.43% from ₹0.14)
  • Total Equity: ₹5,620.35 lakhs (from ₹5,371.78 lakhs)
  • Current Investments: ₹3,502.50 lakhs (from ₹2,339.84 lakhs)
  • Inventory: ₹478.25 lakhs (↓ from ₹1,938.91 lakhs)
  • Trade Receivables: ₹426.86 lakhs (↓ from ₹756.47 lakhs)
  • Cash & Cash Equivalents: ₹227.09 lakhs (↑ from ₹10.65 lakhs)
  • Borrowings reduced substantially to near debt-free status

Capital Structure

  • Paid-up Equity Share Capital: ₹1,002.56 lakhs (10,02,56,400 equity shares of ₹1 each)
  • Authorized Share Capital increased to ₹15.25 crore from ₹10.03 crore through postal ballot
  • Board approved Draft Letter of Offer for Rights Issue of up to 5,01,28,200 Equity Shares at ₹5 per share (₹1 face value + ₹4 premium) aggregating ₹2,506.41 lakhs
  • Rights Issue ratio: 1 Rights Equity Share for every 2 fully paid-up Equity Shares

Corporate Updates

  • Registered office changed to G/19, Hemkut Owners Association, Opp. Capital Commercial Centre, Ashram Road, Ahmedabad, Gujarat - 380009 (w.e.f. August 20, 2025)
  • Additional place of business: 505 Ratnanjali Solitaire, Prernatirth Road, Jodhpur Road, Satellite, Ahmedabad-380015 (w.e.f. August 20, 2026)
  • No dividend recommended for FY 2025-26 to conserve resources
  • No deposits accepted from public under Section 73 of Companies Act, 2013

Board Composition

  • Mr. Umeshbhai Rasiklal Gor - Chairperson & Non-Executive Independent Director
  • Mr. Satishkumar Ramanlal Gajjar - Managing Director & Chief Financial Officer
  • Mrs. Geetaben Satishbhai Gajjar - Whole-Time Director
  • Mr. Dhaval Satishkumar Gajjar - Non-Executive, Non-Independent Director
  • Mr. Ayush Manishbhai Shah - Non-Executive Independent Director
  • Mr. Jaymin Rakeshkumar Shah - Non-Executive Independent Director

Auditor Changes

  • Statutory Auditor: M/s Shah Karia & Associates resigned; M/s P H Shah and Co proposed for appointment
  • Secretarial Auditor: M/s Neelam Somani & Associates resigned; M/s Madhav Upadhyay and Associates proposed for appointment

Regulatory Matter

SEBI passed an order dated May 29, 2026 restraining the Company and its Director from accessing the securities market and dealing in securities for five years. The Company has filed an appeal before the Securities Appellate Tribunal, which is pending adjudication.

Other Disclosures

  • Company operates in single segment - trading of gold, silver, diamond and jewellery products
  • No material related party transactions requiring shareholder approval
  • No corporate social responsibility applicability
  • No business responsibility and sustainability reporting applicability
  • Vigil mechanism/whistle blower policy in place with no complaints received
  • No sexual harassment complaints received during the year
  • 6 permanent employees on rolls as of March 31, 2026