AJC Jewel Manufacturers has scheduled a board meeting for September 2, 2026, to consider the issuance of equity shares on a preferential basis. The agenda also includes approving the draft notice for the upcoming Annual General Meeting.

The company notified the BSE Listing Compliance Department on August 26, 2026, pursuant to Regulation 29 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The preferential allotment is subject to shareholder approval and other statutory clearances.

Trading Window Closure

In compliance with the SEBI (Prohibition of Insider Trading) Regulations, 2015, and the company’s internal code of conduct, the trading window for designated persons remains closed. This restriction began on August 26, 2026, and will stay in effect until 48 hours after the outcome of the board meeting is announced on the BSE.

Ms. Reshmi N K, Company Secretary and Compliance Officer, issued the intimation from the company’s registered office in Malappuram, Kerala.

AJC Jewel Manufacturers delivered a strong start to FY27, with consolidated net profit attributable to owners surging 318.7% year-on-year to ₹2.38 crore for the quarter ended June 30, 2026. Total revenue from operations expanded 124.7% to ₹101.38 crore, reflecting robust demand and operational scale-up in its gold and silver jewellery segments.

The Board of Directors approved the unaudited standalone and consolidated financial results in a meeting held on August 13, 2026. Kumar & Biju Associates LLP issued the limited review report for both sets of accounts, confirming compliance with SEBI Listing Regulations and Accounting Standard 25.

Financial Highlights

On a standalone basis, revenue from operations expanded 20.4% quarter-on-quarter to ₹101.29 crore, while net profit rose 28.4% to ₹2.52 crore. Consolidated total expenses stood at ₹98.14 crore, primarily due to higher cost of materials consumed and employee benefits. Finance costs increased to ₹1.27 crore from ₹98.09 lakh in the previous quarter.

What the Numbers Show

The company demonstrated significant operating leverage, with EBITDA growing at nearly twice the rate of revenue. EBITDA expanded 193.7% to ₹4.64 crore, compared to a 124.7% rise in total revenue. This divergence indicates improved margin retention and efficiency gains from technology-enabled manufacturing and product diversification. The PAT margin widened by 108.75 basis points to 2.35%, underscoring the benefit of scale as fixed costs were spread over a larger revenue base.

Strategic & Operational Updates

AJC continues to strengthen its jewellery manufacturing platform with a focus on customised, lower-MOQ jewellery and value diversification. The company has upgraded its B2B digital portal and ERP platform and established a dedicated Design & Innovation Centre to accelerate new product development.

The Sharjah expansion, delayed due to geopolitical tensions in the Middle East, remains on track for completion by H1FY27. This initiative aims to strengthen the company’s international manufacturing footprint across GCC markets.

Esthara Jewels Expansion

The company is progressively expanding its D2C silver jewellery business under Esthara Jewels, its consumer-facing subsidiary focused on affordable luxury. During April-July 2026, Esthara Jewels opened three new showrooms in Kerala:

• Hilite Mall, Thrissur (operational from April 6, 2026)
• Hilite Countryside Mall, Chemmad (operational from June 19, 2026)
• Market City Mall, Perinthalmanna (opened July 12, 2026)

Fund Utilization

As of June 30, 2026, there were no deviations in the use of proceeds from the public issue raised in June 2025. Funds allocated for capital funding, debt repayment, general corporate purposes, and issue-related expenses were fully utilized as per the original plan, with ₹15.39 crore deployed across these categories.