Guru Krupa Gems & Jewellery Ltd appointed M/s Madhav Upadhyay and Associates, Practicing Company Secretaries, as its Secretarial Auditor for a five-year term spanning FY27 to FY31. This decision was ratified during the company's 16th Annual General Meeting held on September 25, 2026.

The appointment follows the board's recommendation and complies with the Companies Act, 2013. The effective date of the appointment is September 1, 2026. The firm brings experience in statutory compliances under SEBI regulations, stock exchange listing agreements, FEMA, and company law.

Voting outcomes by resolution

Remote e-voting was open from September 21 to September 24, 2026. The scrutinizer, Madhav Upadhyay and Associates, compiled votes from both remote e-voting and live e-voting during the meeting. The results indicate strong shareholder support across all agenda items.

Governance and auditor appointments

The board confirmed that both the Statutory Auditors' and Secretarial Auditor's reports for FY26 contained no qualifications, observations, or adverse remarks. The notice of the AGM and the Directors' Report were taken as read.

Key governance decisions included:

• Statutory Auditor: Re-appointment of M/s. Shah Karia & Associates, Chartered Accountants (FRN: 131546W), for a five-year term until 2031.
• Secretarial Auditor: Appointment of M/s. Madhav Upadhyay and Associates, Practicing Company Secretary, for a five-year term (FY27-FY31).
• Director: Re-appointment of Mrs. Varshaben Akshaykumar Mehta, who retired by rotation and offered herself for re-appointment.

Meeting details and compliance

The meeting was conducted via video conferencing, commencing at 4:00 pm and concluding at 4:19 pm. A total of 32 members participated through the virtual platform out of 8,521 shareholders recorded on the cut-off date of September 18, 2026. The Managing Director, Akshay Sevantilal Mehta, chaired the session after receiving authorization from the Chairperson, Prafulkumar Jayantilal Sheth.

National Securities Depository Limited (NSDL) served as the service provider for the electronic voting facility. The scrutinizer confirmed that the voting process adhered to Section 108 of the Companies Act, 2013, and relevant MCA circulars. No invalid or abstained votes were reported for any resolution. The consolidated scrutinizer's report was submitted to the company on September 26, 2026, and filed with BSE Limited under Regulation 44(3) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Guru Krupa Gems & Jewellery reported a sharp contraction in financial performance for FY26, with revenue from operations falling 76% to ₹2,698.11 lakh. The company’s net profit after tax declined 17% to ₹56.59 lakh compared to the previous year.

The Ahmedabad-based jeweller has scheduled its 16th Annual General Meeting (AGM) for September 25, 2026. The meeting will be held via video conferencing to approve the audited financial statements and reappoint key board members. Remote e-voting will commence on September 21, 2026 at 9:00 am and end on September 24, 2026 at 5:00 pm.

Financial Performance

The company faced significant headwinds in the fiscal year ended March 31, 2026. Total revenue dropped to ₹2,709.06 lakh from ₹11,308.22 lakh in FY25. This decline was driven by a steep fall in sales volumes amid elevated gold prices.

Despite the revenue slump, the company managed to reduce total expenses by 77% to ₹2,631.19 lakh, largely due to lower purchase costs. Employee benefit expenses fell 37% to ₹47.52 lakh, while administrative expenses dropped 46% to ₹36.73 lakh.

Balance Sheet Signals

The company’s net worth increased marginally by 2% to ₹2,475.91 lakh, supported by retained earnings. Inventories rose slightly to ₹1,517.80 lakh, reflecting stock accumulation at higher gold prices. Trade receivables decreased 10% to ₹722.88 lakh, indicating improved collection efficiency despite lower sales.

Cash and cash equivalents nearly doubled to ₹8.70 lakh from ₹4.72 lakh in the prior year. The company took on non-current borrowings of ₹49.42 lakh, up from nil in FY25, to support operations.

What the Numbers Show

The divergence between the 76% revenue decline and the 14% profit before tax drop highlights effective cost management. While top-line pressure was severe, the proportional reduction in purchase costs and operating expenses helped cushion the bottom line. However, the inventory turnover ratio fell sharply from 7.65 times to 1.78 times, signaling slower stock movement relative to the reduced sales base.

Corporate Governance Updates

Mrs. Varshaben Akshaykumar Mehta retires by rotation at the upcoming AGM and seeks reappointment as a Non-Executive Non-Independent Director. The board also proposes appointing M/s Madhav Upadhyay and Associates as Secretarial Auditors for five years, effective FY27.

The company changed its name from Bhakti Gems and Jewellery Limited during the year. No dividend was recommended for FY26 as profits were retained for business operations.