Banaras Beads Limited concluded its 46th Annual General Meeting (AGM) on July 30, 2026, adopting the audited standalone financial statements for the financial year ended March 31, 2026, and reappointing Ashok Kumar Gupta as a director. The physical gathering in Varanasi provided shareholders with an opportunity to review the company’s performance and governance structures for FY26. The proceedings were conducted in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

The meeting commenced at 3:00 PM and concluded at 4:10 PM at Kanhaiya Lal Gupta Smriti Bhawan in Varanasi. Ashok Kumar Gupta, Chairman and Managing Director, chaired the session. Siddharth Gupta, Chief Executive Officer and Managing Director, outlined the company’s future prospects and business strategy, emphasizing plans to increase turnover through new product introductions. The quorum was present at the start time, ensuring the validity of all resolutions passed.

Attendance and Participation

A total of 67 shareholders attended the meeting in person, comprising 5 promoter group members and 62 public shareholders. No proxies or authorized representatives were present. E-voting was conducted from July 27, 2026, to July 29, 2026, while members present voted via ballot. Ajay Jaiswal & Co., Practicing Company Secretaries, served as the scrutinizer for both remote e-voting and ballot votes.

Key Resolutions

Shareholders passed two ordinary resolutions during the AGM:

1. Adoption of Financial Statements: The audited standalone financial statements for FY26, along with the Board of Directors’ report and Auditors’ report, were received, considered, and adopted. G.D. Dubey, Partner at G.D. Dubey and Associates, served as the Statutory Auditor. The Company Secretary confirmed that there were no qualifications, observations, or comments in the Audit Report or Secretarial Audit Report for FY26.
2. Reappointment of Director: Ashok Kumar Gupta (DIN: 00016661), who was liable to retire by rotation, offered himself for reappointment and was duly reappointed as a director pursuant to Section 152 of the Companies Act, 2013.

Governance and Compliance

The notice for the AGM was sent to all 5,969 shareholders as of the record date, July 23, 2026. Notices were dispatched via courier/post to 1,056 shareholders and via email to 5,011 shareholders by June 29, 2026. For shareholders without email addresses, letters were sent directing them to download documents from the company website, in accordance with Regulation 36(1)(b) of the SEBI LODR Regulations, 2015, and MCA Circular No. 09/2024 dated September 19, 2024. The AGM notice was also published in Business Standard on July 2, 2026, in both English and Hindi editions.

During the meeting, shareholders raised questions regarding future business strategy, dividend policy, and account-related matters. R.K. Singh, Company Secretary, addressed these queries, authorizing responses to be sent via email where necessary. The voting results and consolidated Scrutinizer’s Report will be submitted to the stock exchanges and placed on the company’s website, NSDL, and exchange portals within 48 hours of the meeting’s conclusion, as mandated under Regulation 44(3) of the SEBI LODR Regulations, 2015.

Banaras Beads Limited reported a net profit of ₹71.98 lakh for the quarter ended June 30, 2026, up 17.8% year-on-year from ₹60.99 lakh in Q1FY25. The Varanasi-based manufacturer and exporter of beads and handicrafts saw revenue from operations jump 45.9% to ₹905.84 lakh, driven by increased sales activity in its core segment.

The Board of Directors approved the unaudited standalone financial results on July 23, 2026, in compliance with Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The results were reviewed by the Audit Committee and subjected to a limited review by the company’s statutory auditors, G D Dubey & Associates, who issued an unqualified report without any adverse remarks or qualifications.

Financial Performance

Revenue from operations rose significantly to ₹905.84 lakh in Q1FY26, compared to ₹620.84 lakh in the same quarter of FY25. This growth was accompanied by a rise in cost of materials consumed, which increased to ₹715.18 lakh from ₹232.48 lakh year-ago, reflecting higher production volumes. Other income declined to ₹30.28 lakh from ₹39.39 lakh in Q1FY25.

Profit before tax stood at ₹96.98 lakh, up from ₹79.99 lakh in the prior year period. Tax expenses were recorded at ₹25.00 lakh, comprising current tax provisions. Earnings per share (basic) increased to ₹1.08 from ₹0.92 in Q1FY25.

What the Numbers Show

The significant rise in revenue was largely operational, evidenced by the proportional increase in cost of materials consumed and employee benefit expenses, which rose to ₹150.60 lakh from ₹124.32 lakh. However, finance costs dropped sharply to ₹34.36 lakh from ₹14.95 lakh in Q1FY25, indicating improved interest outlays or lower debt servicing costs during the quarter. The company reported no outstanding defaults on loans or debt securities, maintaining a clean balance sheet regarding financial indebtedness.

The filing confirmed that there are no subsidiary, associate, or joint venture companies, meaning only standalone financials are applicable. Additionally, the company noted no complaints received from shareholders or regulators during the quarter, with no unresolved issues pending as of June 30, 2026. Segment-wise reporting under IND AS 108 was deemed not applicable as all commercial activities fall under a single export segment based in Varanasi.