Devine Impex Limited held its 31st Annual General Meeting on September 25, 2026, in Mohali, Punjab. During the meeting, shareholders approved the audited financial statements for the fiscal year ended March 31, 2026.

The company also passed an ordinary resolution to re-appoint Manju Jain as a director retiring by rotation. The meeting was chaired by Managing Director Neeraj Jain, who provided an overview of the company’s financial performance and future outlook for FY26.

Resolutions Passed

The following ordinary resolutions were adopted during the proceedings:

• Adoption of audited financial statements of the company as at March 31, 2026, along with the Director’s and Auditor’s reports.
• Re-appointment of Manju Jain (DIN: 02711684) as a director retiring by rotation.

Meeting Proceedings and Compliance

The requisite quorum was present to conduct the meeting. Relevant documents required under the Companies Act, 2013 were available for inspection by members. The Chairman addressed concerns raised by the Secretarial Auditors regarding the year ending March 31, 2026, and assured shareholders that steps are being taken to resolve these issues shortly.

An e-voting facility was provided to all members. Arshdeep Kaur, a practising company secretary, was appointed as the scrutinizer to oversee the remote e-voting and poll process. The voting results and the consolidated scrutinizer’s report will be communicated to the stock exchange within 48 hours of the meeting's conclusion.

Devine Impex reported a decline in both revenue and net profit for the financial year ended March 31, 2026. The company’s gross income fell 14.8% year-on-year to ₹170.17 lakh, while net profit after tax contracted 5.8% to ₹3.10 lakh. The board has decided against recommending any dividend for the year.

Financial Performance

The company faced pressure on its top line as revenue from operations dropped from ₹199.69 lakh in FY25 to ₹170.17 lakh in FY26. Despite the revenue contraction, the operating profit margin expanded from 9.75% to 11.92%. This improvement was driven by a reduction in the cost of goods sold relative to sales, though absolute profits remained lower due to the significant drop in volume.

Other expenses rose 22.8% to ₹12.00 lakh, primarily due to director sitting fees of ₹2.40 lakh and increased professional charges. Finance costs remained negligible at ₹0.01 lakh.

What the Numbers Show

A key divergence in the results is the expansion of the operating margin despite falling revenues. While the company sold less product, it managed its purchase costs effectively, with purchases declining slightly more than revenue. However, this efficiency did not translate into higher bottom-line profits because of rising administrative overheads and a lower overall profit base.

Balance Sheet & Liquidity

The company maintains a debt-free balance sheet with no borrowings as of March 31, 2026. Total assets stood at ₹1,378.17 lakh, dominated by current assets of ₹1,246.30 lakh. Inventory levels increased slightly to ₹1,093.67 lakh, comprising stock of bullion, jewellery, and shares. Cash and cash equivalents declined significantly to ₹0.29 lakh from ₹1.36 lakh in the previous year, reflecting a net cash outflow from operating activities of ₹1.07 lakh.

Corporate Governance

Ms. Manju Jain retires by rotation at the upcoming annual general meeting on September 25, 2026, and offers herself for reappointment. The board comprises five directors, including two independent directors. The statutory auditors, Deepak Jindal & Co., issued an unqualified opinion on the financial statements.