Khazanchi Jewellers shareholders have approved the company’s migration from the SME Platform to the Main Board of both the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE), marking a significant step in its corporate evolution. The resolution was passed as a special resolution at the company’s 31st Annual General Meeting (AGM) held on August 10, 2026, via Video Conferencing/Other Audio Visual Means (VC/OAVM). Alongside the listing upgrade, shareholders also approved the adoption of audited financial statements for FY26, the declaration of a dividend, and the reappointment of key directors.

The voting process, scrutinized by A. K. Jain & Associates under Regulation 44 of the SEBI (LODR) Regulations, 2015, showed unanimous support for all items on the agenda. Remote e-voting remained open from August 6, 2026, at 9:00 AM IST to August 9, 2026, at 5:00 PM IST. Shareholders holding shares as on the cut-off date of August 3, 2026, were entitled to vote. The e-voting facility was provided by Central Depository Services (India) Limited (CDSL).

Voting Results

All five resolutions tabled at the AGM received 100% affirmative votes, with no votes cast against any item. The total valid votes received through remote e-voting prior to the AGM stood at 18,573,507 for each item. No votes were cast during the AGM itself.

Key Resolutions Approved

In addition to the listing migration, the Board sought approval for several routine matters. The audited financial statements for the financial year ended March 31, 2026, along with the reports of directors and auditors, were adopted by requisite majority. The company also declared a final dividend of ₹0.50 per equity share of ₹10 each, representing a 5% payout for FY26.

Two directors retired by rotation and offered themselves for reappointment. Rajesh Mehta (DIN: 07605326), Joint Managing Director, and Tarachand Mehta (DIN: 01234768), Managing Director, were both reappointed to their respective positions following unanimous shareholder approval.

What the Numbers Show

The unanimous 100% support across all resolutions indicates strong alignment between the management and the shareholder base. The complete absence of votes against any item suggests no dissent regarding the strategic move to the main board or the proposed dividend distribution. This clean bill of health provides regulatory clarity for the upcoming listing migration process.

Khazanchi Jewellers Limited reported a 98.87% increase in profit after tax to ₹89.42 crore for the financial year ended March 31, 2026, compared to ₹44.96 crore in the previous year. Total income for the year rose to ₹2,051.02 crore from ₹1,772.53 crore in FY25, supported by higher value per transaction, an improved product mix, and growing retail footfall. The company’s EBITDA grew 95.50% to ₹126.93 crore, with the EBITDA margin improving by 253 basis points to 6.19%.

The Board of Directors has recommended a final dividend of ₹0.50 per equity share of face value ₹10 each for the year ended March 31, 2026. The record date for determining the entitlement of shareholders for the dividend is fixed as Monday, August 03, 2026. The 31st Annual General Meeting of the company will be held on Monday, August 10, 2026, through video conferencing.

Financial Performance

The company delivered one of its strongest financial years, with total income crossing the ₹2,000 crore mark. The five-year financial trajectory shows a compound annual growth rate (CAGR) of 68% in total income, 96% in EBITDA, and 129% in PAT. Earnings per share (EPS) roughly doubled to ₹36.10 in FY26, while book value per share increased from ₹93.53 to ₹129.63.

Operational Highlights

Retail's share of revenue doubled from 5% in FY25 to 10% in FY26, following the opening of a 10,000 square foot flagship showroom in Chennai on February 07, 2026. The company launched Vajraa Diamonds, a dedicated brand for premium natural diamond jewellery, to enhance its product mix and margins. Wholesale continued to contribute 90% of the revenue, serving over 1,000 clients across India.

The company appointed film actress Ms. Bhagyashri Borse as its brand ambassador to strengthen visibility and support retail expansion. The employee base grew nearly two times to 86 employees during the year, reflecting the pace of expansion.

Strategic Initiatives

The Board has approved the migration of the company's listing from the SME Platform of BSE Limited to the Main Board of BSE Limited and National Stock Exchange of India Limited, subject to regulatory and shareholder approvals. The company has begun preparing for this migration, with eligibility due in August 2026.

Looking ahead, the company targets ₹500 crore in retail sales and plans to launch dedicated platforms for B2B trade and B2C e-commerce. It is also formulating a dedicated silver jewellery strategy to cater to evolving consumer preferences.