AJC Jewel Manufacturers Limited has issued a comprehensive postal ballot notice dated March 23, 2026, and subsequently submitted newspaper publication confirmation to BSE Limited on March 24, 2026, seeking shareholder approval for five critical special resolutions that will enhance the company's financial flexibility and operational capabilities.

Regulatory Compliance and Publication

The company submitted formal notification to BSE Limited under Regulation 30 of SEBI Listing Regulations, confirming the publication of postal ballot notices in leading newspapers. The notices were published in "Business Standard" (English) and "Metro Vartha" (Malayalam) on March 24, 2026, ensuring comprehensive reach to shareholders across different linguistic regions.

Key Resolutions and Financial Proposals

The postal ballot encompasses five major resolutions with substantial financial implications for the company's future operations:

E-Voting Timeline and Process

The company has established a comprehensive electronic voting framework to facilitate shareholder participation:

Material Related Party Transaction Details

A significant component of the postal ballot involves approving material related party transactions with Esthara Jewels Private Limited (EJPL), a recently incorporated subsidiary. The transaction details reveal the strategic nature of this relationship:

Subsidiary Information:

• Incorporation Date: December 23, 2025
• AJC Shareholding: 88% equity stake
• Promoter Holding: 12% held by Mr. Ashraf P
• Business Activity: Retail silver jewellery operations
• Transaction Value: ₹50 crore

The proposed transactions include inter-corporate loans, deposits, guarantees, investments, and various sale/purchase arrangements designed to support the subsidiary's operational requirements and business expansion.

Enhanced Borrowing and Investment Capabilities

The resolutions collectively aim to strengthen the company's financial architecture through multiple mechanisms. The proposal to increase thresholds for loans, guarantees, and securities to ₹50 crore will enable the company to pursue strategic investments and support business partners more effectively. The proposed increase in overall borrowing limits to ₹150 crore under Section 180(1)(c) provides substantial financial headroom for growth initiatives and operational requirements.

The postal ballot process demonstrates strict adherence to regulatory requirements, with the notice being distributed exclusively through electronic means in compliance with MCA Circulars and SEBI Listing Regulations. Shareholders whose names appear in the Register of Members as of the March 20, 2026 cut-off date are eligible to participate in the e-voting process through CDSL's platform at www.evoting.cdsl.com .

AJC Jewel Manufacturers Limited announced its unaudited financial results for the quarter and nine months ended December 31, 2025, showcasing exceptional operational performance with net profit surging 69.22% quarter-on-quarter. The results were approved by the Board of Directors at their meeting held on February 25, 2026.

Strong Quarterly Performance

The company delivered robust Q3FY26 results with significant improvements across all key financial metrics. Net profit reached ₹345.31 lakhs, representing a substantial 69% sequential growth from Q2FY26's ₹204.06 lakhs. Revenue from operations stood at ₹8,846 lakhs with total income of ₹8,854.93 lakhs for the quarter.

Nine-Month Performance Exceeds Full Year FY25

For the nine-month period ended December 31, 2025, the company achieved remarkable milestones with net profit of ₹606.19 lakhs, already surpassing the total FY25 full-year profit by 111.7%. Revenue from operations reached ₹20,763.65 lakhs with basic earnings per share of ₹10.90.

Strategic Initiatives and Expansion Plans

The company is launching Esthara Jewels to capture the fast-moving silver fashion jewellery segment. The D2C e-commerce platform is scheduled for launch in the first week of March 2026, with the first physical flagship store opening in Thrissur, Kerala by the third week of March 2026.

AJC continues strengthening its international footprint through its Sharjah facility, currently operating at 30% utilization rate. The company has acquired a 95% stake in this subsidiary, with regulatory formalities currently underway.

Enhanced Digital Operations

The proprietary B2B portal witnessed strong traction, onboarding 48 new independent jewelers during the quarter. The digital-first approach now facilitates approximately 70% of order volume, ensuring lean operations and reduced traditional wholesale lead times.

Balance Sheet Strength

The company's balance sheet reflects robust financial health with total assets of ₹8,084.33 lakhs as of December 31, 2025, compared to ₹4,935.16 lakhs as of March 31, 2025.

Management Commentary

Commenting on the performance, Mr. Ashraf P, Chairman & Managing Director, stated that the stellar Q3 results with net profit growing over 69% sequentially demonstrate the brand's market resonance and ability to capitalize on high-demand festive seasons. He emphasized the company's focus on expanding manufacturing capabilities and reaching new market segments for long-term value creation.

Regulatory Compliance

The financial results were prepared in accordance with Regulation 33 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, and reviewed by Kumar & Biju Associates LLP, Chartered Accountants. The company submitted these results voluntarily following its BSE SME listing effective July 1, 2025.