Asian Star schedules 32nd AGM on Sep 28, proposes ₹1.50 dividend for FY26
- Asian Star schedules 32nd AGM for September 28, 2026, via VC/OAVM
- Board proposes ₹1.50 per share final dividend for FY26
- Record date set for September 21, 2026 for dividend eligibility
- Priyanshu A. Shah and Dharmesh D. Shah seek re-appointment as directors
*this image is generated using AI for illustrative purposes only.
Asian Star Company Limited has scheduled its 32nd Annual General Meeting for Monday, September 28, 2026 at 2:00 pm via Video Conferencing or Other Audio Visual Means, with a proposed final dividend of ₹1.50 per equity share for FY26.
The meeting will be held pursuant to Regulation 30 read with Part A (Para A) of Schedule III and Regulation 34(1)(a) of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, along with applicable Ministry of Corporate Affairs circulars. The intimation was signed by Vipul P. Shah, CEO and Managing Director, and submitted to BSE Limited.
Meeting Details
The following table summarises the key details of the 32nd AGM:
| Detail | Information |
|---|---|
| Meeting Date | September 28, 2026 |
| Time | 2:00 pm |
| Mode | Video Conferencing / OAVM |
| Proposed Dividend | ₹1.50 per equity share |
| Record Date | September 21, 2026 |
| Book Closure Start | September 22, 2026 |
| Book Closure End | September 28, 2026 |
The dividend of ₹1.50 per equity share of face value ₹10 each, aggregating to Rs. 240.10 lakhs, is subject to approval by shareholders at the AGM. The Board recommended this payout at its meeting held on May 25, 2026. Shareholders whose names appear in the register of members as on the record date of September 21, 2026 will be eligible for the dividend.
Ordinary Business
The AGM agenda includes the following ordinary business items:
- Adoption of audited standalone and consolidated financial statements for the financial year ended March 31, 2026
- Declaration of a final dividend of Rs. 1.50 per equity share for the year ended March 31, 2026
- Re-appointment of Mr. Priyanshu A. Shah (DIN: 00004759) as a Director, retiring by rotation
- Re-appointment of Mr. Dharmesh D. Shah (DIN: 00004704) as a Director, retiring by rotation
Directors Seeking Re-appointment
The following table provides details of the two directors proposed for re-appointment at the AGM, as required under Regulation 36(3) of SEBI (LODR) Regulations, 2015:
| Parameter | Mr. Priyanshu A. Shah | Mr. Dharmesh D. Shah |
|---|---|---|
| DIN | 00004759 | 00004704 |
| Date of Birth | May 14, 1981 | October 2, 1965 |
| Date of First Appointment | November 1, 2004 | March 7, 1995 |
| Qualification | B.Com, Certified Gemologist from G.I.A., New York | B.Com |
| Category | Non-Executive Non-Independent Director | Non-Executive Non-Independent Director |
| Shares Held | 12,15,450 | 39,50,050 |
| Board Meetings Attended (FY26) | 1 | 1 |
E-Voting and Remote Participation
The company has engaged National Securities Depository Limited (NSDL) as the authorised agency for remote e-voting. The remote e-voting period begins on Friday, September 25, 2026 at 9:00 am and ends on Sunday, September 27, 2026 at 5:00 pm. The cut-off date for determining eligible voters is Monday, September 21, 2026.
Yogesh D. Dabholkar, Practising Company Secretary (CP No.: 6752), has been appointed as Scrutinizer for conducting the remote e-voting and voting process at the AGM in a fair and transparent manner. Members wishing to speak during the meeting must register their request at secretarial@asianstargroup.com on or before 5:00 pm on September 24, 2026.
FY26 Financial Highlights
The dividend recommendation follows a year in which Asian Star navigated a challenging operating environment. The following table presents consolidated financial highlights for FY26 alongside prior years:
| Metric (Rs. in Lakhs) | FY26 | FY25 | FY24 |
|---|---|---|---|
| Turnover | 2,88,201 | 2,95,575 | 3,52,330 |
| Diamonds Revenue | 1,91,656 | 2,13,280 | 2,89,556 |
| Jewellery Revenue | 96,545 | 82,240 | 62,593 |
| EBITDA | 6,381 | 8,091 | 11,784 |
| PAT | 4,042 | 4,319 | 7,723 |
| EPS (Rs.) | 25 | 27 | 48 |
| Book Value (Rs.) | 1,036 | 976 | 945 |
Consolidated turnover for FY26 stood at Rs. 2,882.01 crore, reflecting a decline of 2.5% from Rs. 2,955.75 crore in FY25. The jewellery segment delivered growth of 17.4%, with revenue rising to Rs. 965.45 crore from Rs. 822.40 crore, while the diamond segment declined 10.1% to Rs. 1,916.56 crore. Profit after tax was Rs. 40.42 crore against Rs. 43.19 crore in FY25.
Historical Stock Returns for Asian Star
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| +1.45% | -12.21% | +18.13% | +13.41% | +13.41% | +13.41% |
How does the 17.4% growth in the jewellery segment offset the 10.1% decline in diamond revenue, and what strategic shifts might this indicate for Asian Star's future product mix?
Given the continued decline in EBITDA and PAT over three years, what specific operational measures is management planning to implement to reverse the margin compression trend?
With both retiring directors having attended only one board meeting in FY26, how might their re-appointment impact corporate governance oversight and strategic decision-making efficiency?
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