Jay Ambe Supermarkets Limited passed all three ordinary resolutions at its sixth Annual General Meeting (AGM) held on September 30, 2026. The meeting was conducted via video conferencing and other audio-visual means, with voting results disclosed to the BSE on October 1, 2026.

The company adopted the audited financial statements for the financial year ended March 31, 2026. Shareholders also approved the re-appointment of Harshal Daxeshkumar Patel as a director retiring by rotation and appointed M/s. P K N & Co. as the statutory auditor.

Voting participation and turnout

The AGM saw a total of 10 shareholders participating through video conferencing. No shareholders attended in person or through proxy, consistent with MCA circulars permitting virtual meetings. The record date for determining entitlement to vote was September 25, 2026.

Resolution outcomes

All three resolutions were passed with 100% votes in favor and zero votes against. The total number of valid votes cast across all categories was 4,447,079. Promoter and promoter group members cast 3,936,000 votes, while public non-institutional shareholders cast 511,079 votes. Public institutional shareholders did not cast any votes.

Key resolutions approved

1. Adoption of annual audited financial statements for FY26.
2. Re-appointment of Harshal Daxeshkumar Patel as director.
3. Appointment of M/s. P K N & Co. as statutory auditor.

What the numbers show

The voting data reveals a significant concentration of control within the promoter group. Promoters held 52.4% of the total shares outstanding (4,658,547 out of 8,879,954) but accounted for 88.5% of all votes polled (3,936,000 out of 4,447,079). This disparity indicates that public shareholders had a low participation rate relative to their shareholding; while public non-institutions held 33.5% of shares, they contributed only 11.5% of the votes cast. Institutional public shareholders, holding 14.1% of shares, recorded zero voter turnout.

Jay Ambe Supermarkets has formed a wholly owned subsidiary, City Square Global LLC, in New Jersey, United States, to expand its international presence. The company holds a 51% membership interest in the new entity, which focuses on the wholesale import and export of consumer goods.

The formation of the limited liability company was completed on June 8, 2026, with the Certificate of Formation filed with the New Jersey Department of the Treasury. Jay Ambe Supermarkets contributed USD 5,100 towards the capital structure, representing its majority stake. The remaining 49% interest is held by promoter group members: Managing Director Jignesh Amratbhai Patel holds 29%, and Shital B Patel holds 20%.

Strategic Expansion

City Square Global LLC aims to establish Jay Ambe Supermarkets’ footprint in the North American market. The subsidiary’s business activities align with the parent company’s core operations, focusing on household goods, apparel, FMCG products, consumer electronics, luggage, and home linen.

The entity is registered at 971 US Highway 202N, Branchburg, New Jersey. As a newly formed entity, it has not yet commenced business operations, and no turnover figures are available. The capital contribution is payable by December 31, 2026, as per the Operating Agreement dated June 8, 2026.

Regulatory Disclosure

Jay Ambe Supermarkets filed an intimation under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, on September 17, 2026. The disclosure was delayed because the company received the necessary formation documents from its authorized representative in the US only on September 16, 2026.

The transaction is classified as non-related party prior to formation but involves promoter interests post-formation. All subsequent transactions between the entities will adhere to arm’s length principles under Regulation 23 of the Listing Regulations and the Companies Act, 2013.