Key Financial Figures (FY 2025-26 vs FY 2024-25)
- Total Income: ₹1,531.04 Lakhs (vs ₹2,146.62 Lakhs) - decrease of 28.7%
- Income from Operations: ₹1,408.27 Lakhs (vs ₹1,997.21 Lakhs) - decrease of 29.5%
- Net Loss Before Tax: ₹(461.39) Lakhs (vs Profit of ₹12.73 Lakhs)
- Net Loss After Tax: ₹(467.12) Lakhs (vs Profit of ₹1.26 Lakhs)
- Total Comprehensive Income: ₹(466.02) Lakhs (vs ₹2.02 Lakhs)
- Bank Borrowings: Reduced to Nil (from ₹886.02 Lakhs)
- Earnings Per Share (Basic & Diluted): ₹(8.07) (vs ₹0.02)
52nd Annual General Meeting Details
- Date: Thursday, August 20, 2026
- Time: 11:00 AM (IST)
- Mode: Video Conferencing/Other Audio Visual Means
- Cut-off Date: Thursday, August 13, 2026
Agenda Items
Ordinary Business:
1. Adoption of Audited Annual Financial Statements for FY ended March 31, 2026 with Reports of Board of Directors and Auditors
2. Re-appointment of Mr. Sumer Gehani (DIN: 10842049) who retires by rotation
Special Business:
3. Re-appointment of Mr. Ajay Gehani as Chairman and Managing Director for 3 years from July 1, 2026 to June 30, 2029
- Proposed remuneration: ₹3,00,000 per month
- Current remuneration: ₹36,00,000 per annum
4. Re-appointment of Mrs. Arundhati Mali as Whole Time Director and Chief Financial Officer for 3 years from July 1, 2026 to June 30, 2029
- Proposed remuneration: ₹37,500 per month
- Current remuneration: ₹4,55,000 per annum
Business Operations Update
- Industry Challenges: Historic surge in gold prices (from ₹1.00 crore/kg to ₹1.60 crore/kg), lab-grown diamond disruption, extended payment cycles (180-200 days)
- Strategic Shift: Moving towards products with lower raw material intensity including colored stones, lab-grown diamonds, emeralds, rubies, pearls set in 14-carat or 9-carat gold
- Inventory Management: Liquidated legacy diamond inventory through selective cash-on-delivery sales
- Cost Reduction: Implemented across employee headcount, salaries, administrative expenses, power costs, tools and consumables
- Bank Facilities: Successfully reduced total bank borrowings from ₹8,86,01,985 to Nil
Board of Directors
- Mr. Ajay Gehani - Chairman and Managing Director
- Ms. Arundhati Mali - Director & CFO
- Mr. Sumer Gehani - Director (w.e.f. August 12, 2025)
- Mr. Narasinha Pal - Independent Director
- Mr. Jigar Darji - Independent Director
Committee Composition
Audit Committee: Mr. Narasinha Pal (Chairman), Mr. Jigar Darji, Mr. Sumer Gehani
Nomination & Remuneration Committee: Mr. Narasinha Pal (Chairman), Mr. Jigar Darji, Mr. Sumer Gehani
Stakeholders Relationship Committee: Mr. Narasinha Pal (Chairman), Mr. Jigar Darji, Mr. Sumer Gehani
Key Managerial Personnel
- Mr. Ajay Gehani - Chairman and Managing Director
- Ms. Arundhati Mali - Whole Time Director & CFO
- Mr. Akshay Jain - Company Secretary and Compliance Officer
Share Capital Structure
- Paid-up Equity Share Capital: ₹578.80 Lakhs (57,88,002 equity shares of ₹10 each)
- Promoter Holding: 37,62,744 equity shares (65.01% of total paid-up capital)
- No change in share capital during the year
Asset Details
- Property, Plant and Equipment: ₹273.04 Lakhs (Net Block)
- Investment Property: ₹57.16 Lakhs (Net Block)
- Inventories: ₹730.96 Lakhs
- Trade Receivables: ₹61.95 Lakhs (after allowance for expected credit loss of ₹0.18 Lakhs)
Voting Arrangements
- Remote E-Voting Period: August 17-19, 2026
- E-Voting Service Provider: Central Depository Services (India) Limited (CDSL)
- Scrutinizer: M/s. P. C. Shah & Co., Practicing Company Secretaries
- Results Declaration: Within 48 hours from conclusion of AGM
Other Significant Disclosures
- Dividend: No dividend recommended for the year
- Employee Strength: 17 employees as on March 31, 2026
- CSR: Not applicable as criteria under Section 135 of Companies Act, 2013 not met
- Related Party Transactions: Disclosed in Note 35 to financial statements
- Contingent Liability: ₹5.60 Lakhs deposited with Bombay High Court regarding recovery suit pending since 1993