AGM Proceedings and Resolutions
Uday Jewellery Industries Limited successfully conducted its 27th Annual General Meeting on September 28, 2026, via video conference with 103 members participating. The meeting approved 11 resolutions including the adoption of audited financial statements, appointment of statutory auditors, declaration of ₹0.50 per share dividend, and various special business items. Key approvals included material related party transactions with Sanghi Jewellers Private Limited (₹100 crore limit), enhanced borrowing powers of ₹250 crores under Section 180(1)(c), and appointments of family members to executive positions.
Financial Performance Highlights
Uday Jewellery reported exceptional FY2025-26 results with revenue from operations of ₹725.63 crore (₹72,563.09 lakhs) and profit after tax of ₹35.77 crore (₹3,576.78 lakhs), representing 127% year-on-year growth. Basic and diluted EPS stood at ₹10.78, significantly higher than the previous year's ₹4.92. Key financial ratios showed improvement with return on equity increasing to 21.19% from 12.24% and inventory turnover improving to 4.03 from 2.86.
Corporate Developments and Amalgamation
The company completed the amalgamation of Narbada Gems and Jewellery Limited with an appointed date of April 1, 2024, sanctioned by NCLT Hyderabad Bench on January 21, 2026. The share exchange ratio was set at 0.4623 equity shares for every 1 share of Narbada Gems, resulting in allotment of 97,81,025 equity shares on March 5, 2026. The company also acquired the business of Sanghi Jewellers Private Limited in October 2025.
Financial Position and Risk Management
Trade receivables increased to ₹133.91 crore (₹13,390.65 lakhs) with 37% over 90 days past due. Borrowings rose significantly to ₹161.98 crore (₹16,198.18 lakhs) from ₹52.39 crore, increasing the debt-equity ratio to 0.84 from 0.36. The company disclosed substantial related party transactions totaling ₹109.32 crore (₹10,931.92 lakhs) in purchases from Sanghi Jewellers Private Limited, along with rent payments and inter-corporate loans.
Shareholder Engagement and Governance
The AGM featured active shareholder participation with queries on gold buying strategy, benefits of the Narbada Gems merger, future expansion plans, and increasing jewellery company listings. Management highlighted the industry's shift from plain gold to gemstone studded jewellery due to changing affordability trends. The meeting was conducted in full compliance with SEBI regulations, Companies Act 2013, and various MCA circulars governing virtual meetings.
Compliance and Regulatory Disclosures
The financial statements were prepared in accordance with Indian Accounting Standards (Ind AS) and included comprehensive disclosures on financial instruments, fair value hierarchy, credit risk, liquidity risk, and market risk. The company confirmed compliance with all regulatory requirements, including no trading in crypto currency, no proceedings under Benami Transaction Act, and no designation as wilful defaulter.