Gautam Gems Limited shareholders approved the appointment of M/s. Madhav Upadhyay and Associates as the company's Secretarial Auditor for a term of five consecutive financial years, spanning FY27 through FY31.

The appointment was ratified at the 13th Annual General Meeting held on September 30, 2026, conducted via video conferencing. The resolution received 99.13% support from voting members. The new auditor replaces the previous arrangement effective from April 1, 2026, to March 31, 2031.

Director reappointment and financial adoption

The primary business transacted at the meeting was the adoption of audited standalone financial statements for the fiscal year ended March 31, 2026. This resolution also secured 99.13% of votes in favor. Shareholders further approved the re-appointment of Mrs. Nidhi Gautam Sheth as Whole-time Director, who retired by rotation under Section 152(6) of the Companies Act, 2013. Her re-election passed with 99.13% support.

Auditor profile and terms

M/s. Madhav Upadhyay and Associates is a practicing company secretary firm with substantial post-qualification experience in secretarial and legal matters. The firm handles statutory compliances under SEBI Regulations, Stock Exchange Listing Agreements, FEMA, and the Companies Act. The appointment was made on the recommendation of the Board of Directors in accordance with applicable provisions of the Companies Act, 2013.

Voting participation details

The record date for determining eligible voters was September 24, 2026, with 22,495 shareholders on the register. Voting occurred through remote e-voting and electronic voting during the meeting. The promoter and promoter group held 10,357,167 shares and voted entirely in favor of all resolutions. Public non-institutional shareholders, holding 30,495,954 shares, cast votes representing 14.67% of their holdings, with approximately 97% supporting each resolution.

Gautam Gems reported a net profit of ₹70.13 lakh for the financial year ended March 31, 2026, marking a 146.76% increase from ₹28.43 lakh in FY25. The Surat-based diamond manufacturer also announced that its 13th Annual General Meeting (AGM) will be held on September 30, 2026.

Revenue from operations grew modestly by 1.75% to ₹7,971.22 lakh, reflecting stable business volumes amid industry headwinds. However, operational efficiency improved significantly, with EBITDA rising 53.48% to ₹126 lakh (₹1.26 crore). The company maintained a conservative balance sheet, reducing short-term borrowings to ₹553.94 lakh from ₹640.26 lakh in the prior year.

Financial Performance

The improvement in profitability was primarily driven by disciplined cost management and reduced finance expenses rather than top-line growth. Finance costs fell 21.28% to ₹26.23 lakh, aiding the bottom line. Operating margins expanded from 1.05% in FY25 to 1.59% in FY26.

Earnings per share (EPS) more than doubled to ₹0.16 from ₹0.07. The Board did not recommend any dividend for FY26, opting to retain profits to strengthen working capital.

What the Numbers Show

The divergence between modest revenue growth and sharp profit expansion highlights the impact of operating leverage. While revenue increased by less than 2%, the reduction in finance costs (down 21.3%) and controlled employee benefits allowed EBITDA to grow over five times faster than sales. This suggests the company is extracting higher value from its existing asset base without proportional increases in operating expenses.

Corporate Governance and AGM Details

The company will hold its 13th AGM on September 30, 2026, at 1:00 pm through Video Conferencing/Other Audio-Visual Means (VC/OAVM). The cut-off date for determining voting eligibility is September 24, 2026. Remote e-voting will be available from September 26 to September 29, 2026.

Key agenda items include:

• Adoption of audited financial statements for FY26.
• Re-appointment of Mrs. Nidhi Gautam Sheth as Whole-time Director, retiring by rotation.
• Appointment of M/s Madhav Upadhyay and Associates as Secretarial Auditor for five years, replacing the resigned M/s Neelam Somani & Associates.

The Board recorded 100% attendance across all seven meetings held during FY26. Independent directors constituted 60% of the Board, ensuring robust oversight. The Statutory Auditors, M/s Shah Karia & Associates, issued an unmodified opinion on the financial statements.