Manoj Vaibhav Gems has scheduled its 37th Annual General Meeting (AGM) for Friday, September 25, 2026. The meeting will be held via Video Conferencing or Other Audio Visual Means to ensure shareholder participation.

The company notified the Bombay Stock Exchange and the National Stock Exchange of India Limited regarding the upcoming meeting. The disclosure was made pursuant to Regulation 30 and Regulation 47 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Financial Performance

For the financial year ended March 31, 2026, the company reported a revenue from operations of ₹2,744.03 crore, reflecting a year-on-year growth of 15.1%. Profit After Tax (PAT) stood at ₹114.98 crore, an increase of 14.5% compared to the previous year. EBITDA grew by 12.6% to ₹185.25 crore.

The growth was driven by higher revenues and operational efficiencies. The company did not recommend any dividend for the financial year ended March 31, 2026, citing the need to conserve resources for future growth and expansion plans.

Key Agenda Items

The AGM notice includes several special resolutions for shareholder approval:

• Re-appointment of CMD: Mrs. Bharata Mallika Ratna Kumari Grandhi is proposed for re-appointment as Chairperson & Managing Director for five years, effective February 12, 2027. Her gross remuneration is set at ₹3.89 crore per annum, with a cap of ₹4.60 crore.
• Re-appointment of CFO: Mrs. Sai Keerthana Grandhi is proposed for re-appointment as Whole time Director & CFO for five years, effective March 1, 2027. Her gross remuneration is ₹1.13 crore per annum, capped at ₹1.60 crore.
• Re-appointment of Executive Director: Mrs. Sai Sindhuri Grandhi is proposed for re-appointment as Executive Director for five years, effective March 1, 2027. Her gross remuneration is ₹30.74 lakh per annum, capped at ₹60 lakh.
• Statutory Auditors: Re-appointment of M/s. Sagar & Associates as Statutory Auditors for a second term of five years.

What the Numbers Show

The company’s PAT margin remained stable at 4.2% in FY26, consistent with FY25 levels, despite significant revenue expansion. This indicates that operating leverage was offset by proportional increases in costs or lower-margin mix. Additionally, the net debt-to-equity ratio ticked up slightly to 0.55 times from 0.51 times in the previous year, driven by an increase in current borrowings to support inventory buildup, which rose to ₹1,609.87 crore.

Meeting Details

Shareholders will receive the electronic copy of the notice convening the AGM along with the Annual Report via electronic mode. Members holding shares in dematerialized form are advised to contact their respective Depository Participants to register or upload their email addresses. As on March 31, 2026, all equity shares of the company were in dematerialized form.

Pursuant to Regulation 36(1)(b) of the Listing Regulations, shareholders whose email addresses are not registered with their respective Depository Participants have been provided a web-link to access the Annual Report for FY26. The report is also available on the company website.

Shareholders can join the AGM exclusively through the VC/OAVM facility. Instructions for remote e-voting and e-voting during the AGM will be provided in the official notice.

Manoj Vaibhav Gems N Jewellers reported a notable improvement in its top-line and bottom-line performance in Q1, with revenue climbing to 7.14 billion rupees compared to 5.5 billion rupees in the corresponding period last year. Net profit for the quarter rose to 276 million rupees from 206 million rupees year-on-year, reflecting solid earnings growth. Despite the revenue and profit expansion, the company's EBITDA margin narrowed on a year-on-year basis, signalling a rise in operating costs relative to revenues.

Q1 Financial Performance

The company's Q1 results reflect broad-based growth across key financial metrics, though margin compression remains a notable development. The following table summarises the key financial highlights for the quarter:

Revenue and Profit Growth

Manoj Vaibhav Gems N Jewellers posted Q1 revenue of 7.14 billion rupees, up from 5.5 billion rupees year-on-year, underscoring strong demand momentum in its jewellery business. Net profit grew to 276 million rupees from 206 million rupees over the same period, demonstrating the company's ability to convert higher revenues into improved earnings. EBITDA for the quarter came in at 446 million rupees, rising from 375 million rupees year-on-year, indicating growth in absolute operating profitability.

EBITDA Margin Contraction

While absolute EBITDA improved year-on-year, the EBITDA margin contracted to 4.88% in Q1 from 6.80% in the same quarter last year. This margin compression suggests that operating costs grew at a faster pace than revenues during the quarter. The divergence between top-line growth and margin performance is a key metric for investors to monitor in the context of the company's overall profitability trajectory.