Gautam Gems has accepted the resignation of M/s. Neelam Somani & Associates as its Secretarial Auditor, effective September 5, 2026. The firm cited personal reasons for stepping down from the role.

The company disclosed this development under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The resignation was tendered via a letter dated September 5, 2026, by FCS Neelam Rathi. The firm confirmed there are no material reasons for the resignation other than those stated in the letter.

New Appointment

The Board of Directors approved the appointment of M/s. Madhav Upadhyay and Associates as the new Secretarial Auditor during its meeting held on September 5, 2026. The term covers five consecutive financial years, commencing from FY27 and ending with FY31. This appointment is subject to shareholder approval at the company’s 13th Annual General Meeting (AGM).

The decision was made on the recommendation of the Audit Committee in accordance with the Companies Act, 2013. M/s. Madhav Upadhyay and Associates possesses substantial post-qualification experience in secretarial and legal matters, including statutory compliances under SEBI Regulations, Stock Exchange Listing Agreements, FEMA, and the Companies Act.

Key Board Decisions

The Board also approved several other governance and administrative matters during the session:

• 13th AGM Convening: The meeting is scheduled for Wednesday, September 30, 2026, at 1:00 p.m. It will be conducted via Video Conferencing (VC) or Other Audio-Visual Means (OAVM), in compliance with Ministry of Corporate Affairs and SEBI guidelines.
• Annual Report Approval: The Board approved the Annual Report for the financial year ended March 31, 2026, along with the Directors' Report and the Notice for the AGM.
• Scrutinizer Appointment: M/s. Madhav Upadhyay and Associates was also appointed as the Scrutinizer for the ensuing AGM to oversee the remote e-voting process.
• Internal Auditor: Mr. Dishant Daxeshbhai Jagad, the Company’s Chief Financial Officer, was appointed as Internal Auditor for two financial years (FY27 and FY28). He brings seven years of experience in accounting and taxation.

Gautam Gems reported a significant improvement in profitability for the quarter ended June 30, 2026, with net profit rising 78.8% year-on-year to ₹11.55 lakh. The Surat-based diamond manufacturer saw revenue from operations grow by 24.5% to ₹2,922.51 lakh, outpacing the previous year’s figure of ₹2,347.92 lakh. This performance underscores the company’s ability to manage cost structures effectively despite volatile market conditions in the gem sector.

The Board of Directors approved the unaudited standalone financial results on August 12, 2026, during a meeting held at the company’s registered office. The results were reviewed by the Audit Committee and subjected to a limited review by M/s. Shah Karia & Associates, Chartered Accountants, the statutory auditors of the company. The filing complies with Regulation 30 and Regulation 47 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Financial Performance Overview

Revenue growth was primarily driven by higher sales volumes and strategic inventory management. While cost of materials consumed increased to ₹4,099.22 lakh from ₹2,679.50 lakh in the same period last year, this was offset by a substantial reduction in inventory values. Changes in inventories of finished goods and work-in-progress contributed a negative ₹1,213.14 lakh to expenses, compared to a negative ₹442.92 lakh in Q1FY26, indicating a drawdown in stock levels that positively impacted the bottom line.

Administrative efficiency also played a key role in margin expansion. Other administrative expenses fell sharply to ₹15.46 lakh from ₹80.68 lakh in the corresponding quarter of the previous year. Employee benefit expenses remained stable at ₹1.38 lakh, down slightly from ₹15.11 lakh in Q1FY26. Financial costs were contained at ₹6.00 lakh, marginally lower than the ₹7.10 lakh recorded in Q1FY26.

What the Numbers Show

The divergence between revenue growth (24.5%) and expense growth (24.3%) highlights improved operational leverage. The most material driver was the inventory adjustment, which reduced total expenses significantly relative to revenue. Additionally, the near-elimination of other administrative expenses suggests successful cost-control measures. With profit before tax rising 60.6% to ₹13.59 lakh, the company demonstrated an ability to convert top-line growth into bottom-line gains more efficiently than in the prior year period.

The trading window for insiders remains closed until 48 hours after the declaration of financial results, as per the SEBI (Prohibition of Insider Trading) Regulations, 2018. The results are available on the company’s website and have been published in newspapers as required.