Financial Highlights (Amount in ₹ Lakhs)

Comparative Performance FY 2025-26 vs FY 2024-25:

  • Revenue From Operations: ₹1,867.81 (Previous: ₹868.42) - 115% increase
  • Other Income: ₹0.00 (Previous: ₹23.13)
  • Net Income: ₹1,867.81 (Previous: ₹891.55)
  • Profit Before Tax: ₹16.46 (Previous: ₹31.25) - 47% decrease
  • Tax Expenses:
  • Current Tax: ₹5.00 (Previous: ₹9.11)
  • Deferred Tax: ₹4.13 (Previous: ₹0.28)
  • Net Profit After Tax: ₹7.33 (Previous: ₹21.85) - 66% decrease

Key Financial Ratios:

  • Current Ratio: 2.31 (Previous: 4.77) - 51.57% decrease
  • Inventory Turnover Ratio: 1.12 (Previous: 0.53) - 112.90% increase
  • Trade Receivable Turnover: 1.58 (Previous: 2.93) - 46.08% decrease
  • Net Profit Ratio: 0.39% (Previous: 2.52%) - 84.41% decrease
  • Return on Equity: 1.36% (Previous: 4.18%) - 67.4% decrease

Operations and State of Affairs

The company is engaged in trading of precious metals, stones & jewellery, specifically diamond trading. During FY 2025-26:

  • Net income increased significantly to ₹1,867.81 lakhs from ₹868.42 lakhs in previous year
  • Net profit after tax decreased to ₹7.33 lakhs from ₹21.85 lakhs due to increase in stock value
  • Entire profit retained in statement of profit and loss; no amount transferred to reserves
  • No dividend recommended on equity shares to conserve resources for future expansion

Capital Structure

  • Authorized Share Capital: ₹5.50 lakhs (55,000 equity shares of ₹10 each)
  • Paid-up Share Capital: ₹4.67 lakhs (46,700 equity shares of ₹10 each)
  • No change in authorized or paid-up share capital during the year
  • Significant changes in promoter shareholding:
  • Kashmira Hemantkumar Nanavati: 0% (Previous: 51.69%)
  • Samad Ahmed Khan: 30.76% (Previous: 0%)
  • Nila Biswakarma: 31.65% (Previous: 0%)

Board of Directors Changes

As on March 31, 2026:

1. Mr. Vipulbhai Vachheta (DIN: 11099302) - Additional Director

2. Ms. Vaishnavi Patel (DIN: 08472582) - Non-Executive Director

3. Mr. Dhiraj Mishra (DIN: 11111454) - Independent Director

4. Ms. Jigishaben Vinodbhai Shah (DIN: 11039797) - Independent Director

Changes During FY 2025-26:

  • Mr. Hardikbhai Patel and Ms. Bhavisha Daliya resigned as Independent Directors w.e.f. June 30, 2025
  • Mr. Dhiraj Mishra and Ms. Jigishaben Vinodbhai Shah appointed as Independent Directors w.e.f. July 01, 2025
  • Mr. Shreykumar Hasmukhbhai Sheth resigned as Managing Director w.e.f. March 10, 2026
  • Mr. Vipulbhai Vachheta appointed as Additional Director w.e.f. March 10, 2026

Post-Year End Changes (after March 31, 2026):

  • Ms. Vaishnavi Patel resigned as Director w.e.f. April 09, 2026
  • Mr. Ankit Kumar Shah (DIN: 11638040) appointed as Additional Director w.e.f. April 09, 2026

Key Managerial Personnel Changes

  • Mr. Nikunj Maniya resigned as Company Secretary & Compliance Officer w.e.f. January 10, 2026
  • Ms. Neha Jadoun (ACS: 53281) appointed as Company Secretary & Compliance Officer w.e.f. March 10, 2026
  • Mr. Yashkumar Trivedi continued as Chief Financial Officer

Statutory Auditors:

M/s. Vaghasia & Lakhani LLP, Chartered Accountants (FRN: 134575W/W100138)

  • Appointed for 5 years from conclusion of 15th AGM (2025) till conclusion of 20th AGM (2030)
  • Audit report contains no qualifications, reservations, adverse remarks, or disclaimers
  • No fraud reported under Section 143(12) of Companies Act, 2013

Internal Auditors:

M/s. Appa & Associates, Chartered Accountants (FRN: 141467W)

Secretarial Auditors:

M/s VJV & Co. LLP, Practicing Company Secretaries

  • Secretarial Audit Report (Form MR-3) contains no qualifications, reservation or adverse remarks

Corporate Governance

  • Company received necessary declarations from Independent Directors under Section 149(7)
  • Familiarization program for Independent Directors implemented
  • Vigil Mechanism/Whistle Blower Policy in place
  • Board Diversity Policy adopted
  • Five Board meetings held during the year
  • No material related party transactions
  • No sexual harassment complaints during the year

Employee Details

  • Total permanent employees: 3 (Male: 2, Female: 1, Transgender: 0)
  • Median remuneration: ₹180,000
  • Ratio of director remuneration to median employee remuneration: 2.96 for Mr. Shreykumar Sheth

Other Significant Disclosures

  • No deposits accepted within meaning of Section 73 of Companies Act, 2013
  • No loans, guarantees or investments under Section 186
  • No material changes between financial year end and board report date
  • No significant orders passed by regulators/courts/tribunals
  • No application or proceeding under Insolvency and Bankruptcy Code, 2016
  • No pending litigations impacting financial position
  • Company has adequate internal financial controls

AGM Notice Details

  • 16th Annual General Meeting to be held on September 25, 2026
  • Agenda includes adoption of financial statements, director appointments, and regularization of Mr. Ankitkumar Shah as director
  • Proposal to appoint Mr. Vipulbhai Vachheta as Managing Director for 5 years with remuneration of ₹9.60 lakh per annum