Advit Jewels Limited shareholders approved the appointment of Abhishek Gilara as Joint Managing Director during the company's seventh Annual General Meeting (AGM) held on September 28, 2026. The meeting also ratified the re-appointment of Prateek Gilara as a director retiring by rotation.

The virtual meeting, conducted via Video Conferencing and Other Audio-Visual Means, commenced at 4:00 pm and concluded at 5:20 pm. Chairman and Managing Director Nitin Gilara presided over the proceedings, with Chief Financial Officer Deepesh Sharma briefing members on the company's performance for the financial year ended March 31, 2026.

Key resolutions passed

The following ordinary resolutions were adopted by the shareholders:

Voting results and attendance

The scrutinizer’s report submitted on September 29, 2026, confirmed that all resolutions were passed with requisite majority. A total of 34,065,477 votes were polled across all categories, representing 74.36% of the total outstanding shares of 45,810,000. The promoter group held 32,010,000 shares, while public institutions held 3,579,085 shares and public non-institutions held 10,220,915 shares.

Voting participation was high among promoters, with 100% of their shares voted in favor of all resolutions. Public institutions voted 54.80% of their holding in favor. Public non-institutions saw a lower turnout, with only 0.92% of their shares voted; however, 99.95% of those votes were in favor, with just 50 votes cast against certain resolutions.

Governance and attendance

The board saw significant participation from both executive and independent directors. Promoter group members and public shareholders collectively attended the meeting, with a total of 36 members present in person or through proxy during the AGM session, alongside 62 members who voted through remote e-voting prior to the meeting.

Directors Present:

• Nitin Gilara: Chairperson & Managing Director
• Prateek Gilara: Whole Time Director
• Vipul Gilara: Whole Time Director and CEO
• Abhishek Gilara: Additional Director (now Joint Managing Director)
• Amit Bardia: Independent Director
• Arzoo Mantri: Independent Director
• Divyank Bader: Independent Director
• Sidharth Bafna: Independent Director

The statutory auditors expressed an unqualified opinion on the financial statements for FY26. The e-voting results were scrutinized by Tara Chand Sharma of ATCS & Associates, who was also appointed as the new Secretarial Auditor firm alongside Keyur Shah and Associates acting in a supporting capacity for the scrutiny process.

Ramesh Sawalram Saraogi and his person acting in concert (PAC), Navratri Share Trading Private Limited, increased their holding in Advit Jewels to 5.24% following an open market acquisition of 3,45,000 equity shares on September 18, 2026.

The transaction was disclosed pursuant to Regulation 29(1) read with Regulation 29(3) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. The acquirers are not part of the promoter group.

Acquisition Details

The acquisition was executed entirely through Navratri Share Trading Private Limited. Prior to this purchase, the group held 20,55,000 shares, representing 4.49% of the total voting capital. The additional purchase of 3,45,000 shares added 0.75% to their stake.

The post-acquisition shareholding is split between Ramesh Sawalram Saraogi (5,00,000 shares or 1.09%) and Navratri Share Trading Private Limited (19,00,000 shares or 4.15%). Note: Precise percentages are 1.0915% and 4.1475% respectively.

Capital Structure Context

Advit Jewels has a total equity share capital of ₹45.81 crore, comprising 4,58,10,000 equity shares of face value ₹10 each. The acquisition did not alter the company’s total voting capital or diluted share capital.

No encumbrances, warrants, or convertible securities were involved in the transaction. The shares acquired carry full voting rights.