Mini Diamonds (India) Ltd shareholders unanimously approved all five resolutions passed at the 39th Annual General Meeting (AGM) held on September 30, 2026. The meeting, conducted at the company's registered office in Mumbai, saw strong support for key governance matters, including the re-appointment of Chairman and Managing Director Upendra Narottamdas Shah.

The voting results indicate high shareholder alignment with management decisions. For ordinary resolutions regarding financial statements and director re-appointment, votes in favour exceeded 99.99%. Special resolutions also passed with overwhelming majority, satisfying the requisite three-fourths majority threshold.

Voting Results Summary

The company disclosed detailed voting outcomes for each agenda item. The total number of shareholders on the record date was 14,408. Voting was conducted via remote e-voting and electronic voting at the meeting.

Key Governance Approvals

Two significant governance resolutions pertained to Mr. Upendra Narottamdas Shah. The first involved his re-appointment as a director liable to retire by rotation. The second, a special resolution, authorized his continuation as Chairman and Managing Director upon completion of tenure, along with approval for remuneration.

In both cases, public non-institutional shareholders cast the vast majority of votes. For the special resolution on his CMD role, 42,032,873 votes were cast in favour against just 116 votes against. Promoter group members voted entirely in favour across all items.

Procedural Compliance

The AGM was held in physical mode at DW-9020, Bharat Diamond Bourse, Bandra Kurla Complex, Mumbai. Remote e-voting facilities were provided through Purva Sharegistry (India) Private Limited. The scrutinizer's report confirmed no invalid votes were recorded during the process. The meeting concluded within ten minutes, from 10:00 am to 10:10 am.

Mini Diamonds (India) Ltd announced that its wholly owned subsidiary, Namra Jewels Private Limited, has launched an exclusive lab-grown diamond jewellery collection specifically designed for Gen Z and young consumers. Priced below ₹50,000, the new range combines contemporary styling with accessible luxury to appeal to younger buyers.

The collection aims to address evolving preferences where jewellery serves as a form of self-expression rather than being reserved solely for traditional occasions. Management stated that the launch expands the brand’s product portfolio and strengthens its connection with a younger generation of jewellery buyers through modern, versatile designs suitable for self-purchase and gifting.

Strategic Expansion

Namra Jewels is targeting a broader customer base with this category addition. The company expects the move to improve customer engagement and increase digital traffic as well as physical store footfall. This initiative supports the brand’s positioning as a wider lifestyle jewellery retailer by capturing the growing trend of men and young adults adopting jewellery for formal and everyday wear.

Upendra Narottamdas Shah, Managing Director, noted that the category complements the existing portfolio. He added that men’s and Gen Z-focused jewellery can contribute meaningfully to the brand’s long-term retail growth by offering contemporary designs and quality craftsmanship at accessible price points.

Business Overview

Mini Diamonds (India) Limited was established in 1987 and operates in the import, export, cutting, and polishing of diamonds. The company maintains a manufacturing facility in Mumbai equipped with Sarin Technology and automated polishing machinery. It sells lab-grown diamond jewellery through B2B and B2C channels in both domestic and international markets.

Source: https://lodr-files.dhan.co/lodr-inputs/Company/INE281E01028/e0f1ac57-bf31-44e1-9cf2-7d852f8bc004.pdf