Mafia Trends appointed Yash Kiritbhai Pujara as an additional non-executive independent director during its board meeting held on October 8, 2026. The company also designated Rachna Jajoo as the new Company Secretary and Compliance Officer, effective the same date.

The appointments were approved pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The board meeting commenced at 11:30 am and concluded at 12:00 pm.

Director profile and compliance details

Yash Kiritbhai Pujara brings experience in corporate and regulatory compliance, having served as a Company Secretary with two years of professional tenure. His background includes handling regulatory matters involving SEBI and the Ministry of Corporate Affairs (MCA), alongside practical knowledge of fund management operations in GIFT City/IFSC. He also possesses expertise in Special Economic Zone (SEZ) compliances, Anti-Money Laundering (AML) and Know Your Customer (KYC) requirements, and corporate governance frameworks.

The disclosure confirms that no relationship exists between Pujara and other directors of the company. Additionally, he holds no shareholding in Mafia Trends. The filing states that he is not barred from holding the office of director by any SEBI order or other authority.

New Company Secretary appointment

Rachna Jajoo, a qualified Company Secretary and M.Com graduate, joins with approximately nine years of post-qualification experience in corporate secretarial and compliance functions. Her career spans roles in both listed and unlisted entities, including finance, leasing, and pharmaceutical sectors.

Jajoo’s expertise covers company incorporation, alteration of Memorandum and Articles of Association (MOA and AOA), capital structure changes, board and general meeting compliance, statutory registers, secretarial audits, and MCA/ROC filings. She is proficient in MCA portal filings and MS Office applications.

Governance updates

Both appointments were ratified by the Board of Directors led by Managing Director Rajendra Singh Rajpurohit. The disclosures regarding relationships and shareholdings indicate no immediate conflicts of interest or equity stakes for the newly appointed officials.

Mafia Trends Limited shareholders approved all three resolutions proposed at its 9th Annual General Meeting held on September 30, 2026. The voting results, disclosed under SEBI regulations, show a high participation rate with 94.88% of outstanding shares polled.

The company had previously reported robust FY26 performance, with revenue from operations rising 89.7% YoY to ₹1,513.45 lakh and net profit after tax growing 15.9% to ₹47.31 lakh. The AGM agenda included the adoption of these audited financial statements, alongside governance-related appointments.

Voting results summary

The scrutiny report by M/s Brajesh Gupta & Co confirmed that all ordinary resolutions were passed with the requisite majority. The total number of shareholders on record as of the cut-off date was 359. However, only three shareholders attended in person or through proxy, while remote e-voting facilitated broader participation among public non-institutional investors.

Promoters and promoter group holders cast 504,506 votes, accounting for 93.84% of their total holdings, all in favour of the resolutions. Public non-institutional shareholders polled 40,196 votes (1.04% of their holdings), with a significant portion voting against the adoption of financial statements and director appointments via e-voting.

Financial performance highlights

The company delivered significant top-line growth in FY26, driven by store expansion and improved inventory turnover. While revenue nearly doubled, profitability growth was moderated by higher costs and working capital changes.

The net profit margin declined to 3.13% in FY26 from 5.12% in FY25, primarily due to increased purchase costs and finance charges. The return on equity also decreased to 1.45% from 2.57% due to higher retained earnings base.

What the numbers show

A critical divergence exists between the aggressive revenue growth and the stagnation in cash flows. Despite an 89.7% jump in revenue, cash generated from operating activities was only ₹1.19 lakh in FY26, compared to a negative ₹204.20 lakh in FY25. This is largely attributed to a massive surge in trade receivables, which ballooned from ₹36.68 lakh to ₹318.89 lakh, indicating significant collection pressure or extended credit terms to customers. Simultaneously, trade payables rose to ₹378.89 lakh from ₹248.63 lakh, suggesting the company is relying more on supplier credit to fund its working capital needs.

Governance updates

The AGM transacted ordinary and special business. Under ordinary business, members adopted the audited Balance Sheet as at March 31, 2026, and re-appointed Mr. Mahendra Singh Rajpurohit (DIN: 07684132), who retires by rotation. Mr. Rajpurohit holds 14,84,310 equity shares and has served as Whole-time Director since February 7, 2017.

Under special business, members voted to regularise the appointment of Mr. Dharmesh Mithabhai Patel (DIN: 11389357) as a Non-Executive Independent Director for a five-year term ending November 27, 2030. Mr. Patel, a commerce graduate with nine years of experience as a tax consultant, was initially appointed as an Additional Director on November 28, 2025.

Meeting logistics

The 9th AGM was scheduled for 3:00 pm but commenced at 4:00 pm at the registered office in Vastrapur, Ahmedabad. Remote e-voting was conducted through NSDL from September 27 to September 29, 2026. The scrutinizer, M/s Brajesh Gupta & Co, certified the results after unblocking votes in the presence of witnesses.