Mini Diamonds has accepted the resignation of Archana Rajesh Agarwal from her roles as Company Secretary and Compliance Officer, effective August 03, 2026. The Mumbai-based diamond manufacturer disclosed the departure to the Bombay Stock Exchange on August 03, 2026, citing personal reasons for the exit. As a Key Managerial Personnel, Agarwal’s departure requires immediate regulatory disclosure under SEBI guidelines.

The company notified the exchange pursuant to Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015. The filing references Part A of Schedule III to the Listing Regulations and SEBI Master Circular No. SEBI/HO/49/14/14(7)2025-CFD-POD2/1/3762/2026, updated on January 30, 2026. The intimation was signed by Upendra Narottamdas Shah, Managing Director of Mini Diamonds (India) Limited.

Agarwal tendered her resignation via letter dated August 03, 2026, addressed to the Board of Directors. She will be relieved from her services with effect from the close of business hours on August 03, 2026. In her resignation letter, Agarwal thanked the Board of Directors and the Chief Financial Officer for their support during her tenure.

The following table outlines the key details of the resignation as disclosed in the regulatory filing:

Mini Diamonds (India) Limited operates out of Bharat Diamond Bourse in Bandra Kurla Complex, Mumbai. The company is listed on the BSE under Scrip Code 523373. The Board of Directors is expected to initiate the process to appoint a successor to ensure continued compliance with corporate governance norms.

Mini Diamonds (India) Ltd returned to profitability in the quarter ended June 30, 2026 (Q1FY27), reporting a standalone net profit of ₹273.80 lakh compared to a loss of ₹514.61 lakh in the preceding quarter. The company’s standalone revenue from operations surged 95.38% year-on-year to ₹19,640.38 lakh, driven by recovering global market stability and growing demand for lab-grown diamonds. This operational turnaround signals improved resilience in its core gems and jewellery business following geopolitical disruptions in the Middle East that impacted the previous quarter.

The Board of Directors approved the unaudited financial results on August 03, 2026, pursuant to Regulations 30 and 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The results were reviewed by the Audit Committee and subjected to a limited review by Statutory Auditors Mittal & Associates. Key Managerial Personnel were authorized to make disclosures to stock exchanges effective August 04, 2026.

Financial Performance

Standalone revenue from operations rose significantly to ₹19,640.38 lakh in Q1FY27, up from ₹10,045.90 lakh in Q1FY26 and ₹15,130.99 lakh in Q4FY26. Consolidated net profit stood at ₹267.17 lakh, reversing a consolidated loss of ₹617.74 lakh in Q4FY26. Profit before tax improved to ₹3.66 crore from -₹7.52 crore in the previous quarter, reflecting disciplined execution across business segments.

Raw materials consumed increased to ₹6,284.73 lakh, while purchase of stock-in-trade was ₹10,009.15 lakh. Other income remained negligible at ₹0.03 lakh, down from ₹11.06 lakh in the previous quarter. Tax expense for the quarter was ₹92.08 lakh on a standalone basis.

Corporate Actions and Governance

Mrs. Archana Rajesh Agarwal resigned as Company Secretary and Compliance Officer effective close of business hours on August 03, 2026, due to personal reasons. Mrs. Ayushi Lunia, an associate member of the Institute of Company Secretaries of India with over nine years of experience, was appointed as the new Company Secretary and Compliance Officer effective August 04, 2026.

The Board previously approved the issuance of up to 1,11,00,000 warrants, convertible into equity shares at ₹8 each, aggregating up to ₹8.88 crore. This preferential issue to promoter group members is subject to shareholder approval at an Extraordinary General Meeting scheduled for August 07, 2026. Additionally, 11,78,45,580 bonus shares were allotted in a 1:1 ratio during the quarter.

What the Numbers Show

The return to profitability is operationally driven rather than reliant on non-operational gains, as evidenced by negligible other income. The 95% year-on-year revenue surge, coupled with a sequential improvement in margins, indicates successful adaptation to evolving market conditions. Upendra Narottamdas Shah, Managing Director, attributed the recovery to improving geopolitical stability and the structural growth trend in lab-grown diamonds. The proposed warrant issuance reflects promoter confidence in long-term growth strategies despite recent volatility.