Darshan Orna Limited appointed M/s P H Shah and Co. as its statutory auditor for a term of five consecutive financial years, commencing FY27 to FY31. The appointment was approved by shareholders at the company's 15th Annual General Meeting held on September 25, 2026.

The appointment was formalized through an intimation to BSE Limited on September 29, 2026, pursuant to Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The Board recommended the firm in accordance with the Companies Act, 2013.

Auditor profile and appointment details

M/s P H Shah and Co., a Chartered Accountancy firm founded in 1996 with head office in Ahmedabad and a branch in Nadiad, Gujarat, will serve as the statutory auditor from April 1, 2026 to March 31, 2031. The firm has over 25 years of experience in audit, assurance, taxation, corporate finance, and business advisory services.

The firm serves a diverse client base ranging from local small businesses to large multinational corporations, offering services including statutory and tax audits, GST compliance, ROC consultancy, and strategic project finance.

AGM resolutions passed

All four ordinary resolutions proposed at the 15th AGM received overwhelming shareholder approval, with votes in favour exceeding 99.99% across all items. The scrutinizer's report submitted on September 29, 2026, confirmed the results.

Total valid votes polled stood at 7,03,43,880, representing 70.3026% of the total outstanding shares of 10,00,58,670.

Secretarial auditor appointment

Separately, shareholders approved the appointment of M/s. SS Lunkad and Associates as secretarial auditor for five consecutive financial years from FY27 to FY31. The firm, led by CS Sushmita Lunkad (FCS No. 12804), brings over five years of post-qualification experience in secretarial and legal matters.

AGM proceedings and participation

The meeting was conducted via Video Conferencing and Other Audio Visual Means, commencing at 1:00 pm and concluding at 1:22 pm. Of the 22,649 shareholders on the record date of September 18, 2026, a total of 49 members cast valid votes, with 37 attending through video conferencing. Remote e-voting was open from September 21, 2026 at 9:00 am to September 24, 2026 at 5:00 pm.

Both the statutory auditors' and secretarial auditor's reports for FY26 contained no qualifications or adverse remarks. Managing Director Ritesh Mahendrabhai Sheth signed the intimation, and the meeting was chaired by Non-Executive Independent Director Manoharbhai Bharatbhai Chunara.

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.