AJC Jewel Manufacturers Limited subsidiary Esthara Jewels Private Limited opened its fourth showroom in Kozhikode, Kerala, on October 8, 2026. This expansion supports the parent company's strategy to grow its retail footprint in the region.

The new outlet focuses on the retail sale of silver jewellery. The move aligns with the company's broader business expansion goals, as disclosed in a filing to the BSE under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Expansion details

Esthara Jewels Private Limited operates as a wholly owned subsidiary of AJC Jewel Manufacturers. The opening of this specific location marks the fourth such establishment for the subsidiary, indicating a steady pace of physical retail growth.

Regulatory disclosure

The company filed the disclosure with BSE Limited on October 9, 2026. Reshmi N K, Company Secretary and Compliance Officer, signed the document on behalf of AJC Jewel Manufacturers. The filing confirms that the operational details are now part of the public record for listed entity stakeholders.

AJC Jewel Manufacturers Limited shareholders approved the acquisition of an 80% stake in its subsidiary, AJC Jewel Manufacturers FZE, through a preferential issue of equity shares. The resolution was passed during the company's 8th Annual General Meeting held on September 29, 2026.

The transaction is structured as a share swap arrangement to discharge the consideration payable for the acquisition. This move consolidates the company’s international operations under its Indian listed entity, potentially streamlining governance and financial reporting for the group.

Resolutions Passed

The meeting, conducted via Video Conferencing and Other Audio-Visual Means (VC/OAVM), saw the passage of several ordinary and special resolutions. The e-voting facility was administered by CDSL, with remote voting open from September 26 to September 28, 2026.

Voting Results and Scrutinizer Report

The company has filed the combined voting results pursuant to Regulation 44(3) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The scrutinizer’s report confirms that all resolutions were approved unanimously by the shareholders.

For the adoption of standalone and consolidated financial statements for FY26 (Item No. 1), 13 members voted in favor, representing shares valued at ₹45,10,760. This resolution received 100% support.

The re-appointment of Mrs. Fathima Jasna Kottekkattu as Director (Item No. 2) was supported by 9 members, holding shares valued at ₹10,92,460, also achieving 100% approval.

Special resolutions regarding the revision of remuneration for Managing Director Ashraf Perinkadakkad (Item No. 3), Whole Time Director Mohamed Ali Cheruparambil (Item No. 4), and Executive Director Fathima Jasna Kottekkattu (Item No. 5) were also passed unanimously. Items 3 and 5 saw support from 9 members (shares valued at ₹10,92,460), while Item 4 saw support from 13 members (shares valued at ₹45,10,760).

The special resolution for the acquisition of the 80% stake in AJC Jewel Manufacturers FZC via share swap (Item No. 6) was approved by 9 members, representing shares valued at ₹10,92,460, with 100% in favor.

Related Party Voting Exclusion

The scrutinizer noted that four members, being related parties, cast votes on Item Nos. 2, 3, 5, and 6. As the CDSL system did not allow abstention, these votes were initially included but have been excluded from the final outcome determination in accordance with Regulation 23(4) of SEBI LODR Regulations, 2015.

The related parties whose votes were excluded are:

After excluding these related party votes, the revised voting results confirm unanimous approval for all relevant resolutions.

Governance and Compliance

Mr. K P Satheesan, a practicing company secretary from Calicut, served as the scrutinizer to supervise the voting process. The detailed voting results and the scrutinizer's report have been submitted to the stock exchanges. The scrutinizer’s report is available on the company's website.

The AGM concluded at 2:15 pm, with the e-voting facility remaining open for an additional 15 minutes to accommodate attendees who had not cast their votes remotely.