Darshan Orna has scheduled its 15th Annual General Meeting (AGM) for September 25, 2026, to approve the annual report for FY26 and appoint new auditors. The meeting will be conducted via Video Conferencing or Other Audio-Visual Means (OAVM).

The company published a newspaper advertisement on September 3, 2026, in The Financial Express (English and Gujarati editions), disclosing the AGM details under Regulation 30 and Regulation 47 of the SEBI Listing Regulations. This follows the board meeting held on September 1, 2026, where the annual report for FY26 was approved. The Integrated Annual Report and AGM Notice were electronically dispatched on September 2, 2026, to shareholders with registered email addresses.

Financial Performance

For the financial year ended March 31, 2026, Darshan Orna reported a significant surge in revenue from operations to ₹7,148.51 lakh, up from ₹2,168.78 lakh in FY25, representing a growth of approximately 230%. Total income stood at ₹7,149.05 lakh.

Net profit after tax (PAT) increased to ₹65.13 lakh from ₹46.62 lakh in the previous year, reflecting a growth of approximately 40%. Profit before tax (PBT) rose to ₹88.16 lakh compared to ₹56.62 lakh in FY25. Operating expenditure increased to ₹7,054.15 lakh from ₹2,186.97 lakh, in line with higher scale of operations. The PBT margin was approximately 1.23%.

Auditor Appointments

The board approved the appointment of M/s P H Shah and Co as the new Statutory Auditor. The firm will serve for a consecutive period of five financial years, from FY 2026–27 to FY 2030–31, subject to member approval at the upcoming AGM. This replaces M/s Shah Karia & Associates, who resigned after the closure of the financial year.

Similarly, M/s SS Lunkad and Associates was appointed as the Secretarial Auditor for the same five-year tenure, replacing M/s Neelam Somani & Associates. Mr. Arth Soni was reappointed as Internal Auditor for five years from 2026-27 to 2030-31.

AGM Details

The 15th Annual General Meeting is scheduled for September 25, 2026, at 1:00 pm. Shareholders holding shares as on the cut-off date of September 18, 2026, will be eligible to exercise their right to vote by electronic means. Remote e-voting will commence on September 21, 2026, at 9:00 am and end on September 24, 2026, at 5:00 pm. M/s SS Lunkad & Associates was also appointed as the Scrutinizer to oversee the remote e-voting process. Shareholders who have not registered their email addresses can access the Annual Report via weblink provided in the letter sent by the company.

Capital Structure and Rights Issue

During FY26, the company issued 5,00,29,335 equity shares on a rights basis at ₹3 per share, aggregating to ₹1,500.88 lakh. As on March 31, 2026, paid-up share capital stood at ₹20,01,17,340 consisting of 10,00,58,670 equity shares of ₹2 each. The authorized share capital was increased to ₹20,20,00,000 divided into 10,10,00,000 equity shares.

What the Numbers Show

The substantial revenue growth in FY26 was driven by elevated gold and silver prices, with gold crossing ₹100,000 per 10 grams during the year. While revenue more than tripled, other income dropped significantly to ₹0.54 lakh from ₹81.25 lakh in FY25, indicating that earnings are now driven almost entirely by core business operations rather than non-recurring income sources. The thin PBT margin of 1.23% reflects the inherent nature of the bullion business where raw material costs constitute the overwhelming proportion of expenses.

Darshan Orna announced that its statutory auditor, M/s. Shah Karia and Associates, has resigned effective September 1, 2026. The firm cited personal reasons for the departure, stating there were no concerns regarding the company’s management or affairs.

The resignation creates a casual vacancy in the statutory auditor role. Darshan Orna confirmed that neither the resigning auditor nor the Audit Committee identified any material reasons for the change. Consequently, no deliberation by the Audit Committee was required, and no view from the committee is applicable.

Auditor Tenure and Transition

Shah Karia and Associates was appointed on September 4, 2025, for a term scheduled to expire on March 31, 2030. The firm submitted its latest Limited Review Report for the quarter ended June 30, 2026, dated August 8, 2026, prior to tendering its resignation.

Darshan Orna stated that its Board and Audit Committee will consider the appointment of a new statutory auditor to fill the vacancy in due course. Further details regarding the change have been disclosed under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.