AJC Jewel Manufacturers has scheduled its 8th Annual General Meeting for September 29, 2026. The meeting will seek shareholder approval for a preferential issue of equity shares to acquire an 80% stake in its UAE subsidiary through a share swap arrangement.

The company also proposes revisions to the remuneration of three key management personnel. These include the Managing Director, Whole-time Director, and Executive Director. The changes are effective from October 1, 2026.

Preferential Issue and Share Swap

The Board proposes issuing up to 5,67,492 equity shares at a price of ₹169.85 per share. This issue is part of a consideration other than cash arrangement to acquire the stake in AJC Jewel Manufacturers FZC, UAE. The aggregate investment value is capped at ₹9.64 crore. Any balance amount over and above the swap value will be paid in cash.

The shares will be allotted to Afzal Rahman Perinkadakkad, a member of the promoter group. The issue price was determined based on SEBI ICDR Regulations, with the relevant date set as August 28, 2026. The floor price was calculated as the higher of the 90-day or 10-day volume-weighted average price on the BSE.

Post-issue, the promoter holding will increase from 56.33% to 60.06%. The public shareholding will decrease from 43.67% to 39.94%. The new shares will rank pari-passu with existing equity shares and will be subject to lock-in provisions as per SEBI regulations.

Remuneration Revisions

The Nomination and Remuneration Committee has recommended salary hikes for three executives based on their contributions over the past year. Shareholders will vote on these special resolutions during the AGM.

• Mr Ashraf Perinkadakkad, Managing Director: Basic salary revised from ₹6,00,000 to ₹7,00,000 per month.
• Mr Mohamed Ali Cheruparambil, Whole-time Director: Basic salary revised from ₹61,500 to ₹1,25,000 per month.
• Mrs Fathima Jasna Kottekkattu, Executive Director: Basic salary revised from ₹1,25,000 to ₹2,00,000 per month.

All three executives are entitled to standard perquisites including provident fund contributions, gratuity, and leave encashment. The resolutions also allow for minimum remuneration payment in case of inadequate profits, subject to Companies Act provisions.

What the Numbers Show

The preferential issue represents a significant consolidation move for the promoter group. By acquiring the majority stake in the UAE entity through equity rather than cash, the company preserves its liquidity while expanding its international footprint. The dilution to public shareholders is approximately 3.73 percentage points, reflecting the targeted nature of the issuance towards the promoter group.

Meeting Details

The AGM will be held via Video Conference or Other Audio-Visual Means. Remote e-voting will be available from September 26, 2026, to September 28, 2026. The cut-off date for voting eligibility is September 18, 2026. Central Depository Services (India) Limited has been appointed as the e-voting agency.

AJC Jewel Manufacturers has issued a revised audio recording of its earnings conference call for the quarter ended June 30, 2026. The company updated the file to remove a portion of audio affected by background disturbance.

The disclosure was made pursuant to Regulation 46(2) (oa) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The filing was submitted to BSE Limited on September 11, 2026, replacing the previous version filed on September 10, 2026.

Conference Call Details

The event was organized in partnership with ConfideLeap Partners. Participants registered prior to joining the webinar.

Management Speakers

Key executives who addressed investors and analysts included:

• Ashraf P, Chairman & Managing Director
• Mahesh K V, Chief Financial Officer

Accessing the Recording

The revised audio recording is available on the company’s website. Investors can access the file via the link provided in the regulatory filing.

Forward-Looking Statements

The company noted that certain statements made during the call may constitute forward-looking statements. These are subject to risks and uncertainties, including significant changes in the economic environment in India and abroad. Actual results may differ substantially from those expressed or implied.