Nanavati Ventures has scheduled its 16th Annual General Meeting for September 25, 2026, in Surat. The meeting will address key governance changes, including the appointment of a new Managing Director.

The company will hold the meeting at its registered office on the fourth floor of Jin Ratna. Shareholders can participate via remote e-voting from September 22 to September 24, 2026.

Key Agenda Items

The AGM notice outlines four primary items for shareholder approval:

• Adoption of audited financial statements for FY26
• Re-appointment of Vipulbhai Vachheta as a director liable to retire by rotation
• Regularization of Ankitkumar Shah as a director
• Appointment of Vipulbhai Vachheta as Managing Director

Leadership Appointments

The Board proposes appointing Vipulbhai Vachheta as Managing Director for a five-year term starting September 1, 2026. His annual remuneration is set at ₹9.60 lakh, including perquisites.

Mr. Vachheta, who holds a Bachelor of Commerce degree, has over 10 years of experience in marketing. He was initially appointed as an Additional Director on March 10, 2026.

Additionally, shareholders will vote to regularize Ankitkumar Shah as a Non-Executive Director. Mr. Shah, also a commerce graduate, brings over six years of experience in marketing and trading. He joined as an Additional Director on April 9, 2026.

E-Voting Process

Remote e-voting opens at 9:00 am on September 22, 2026, and closes at 5:00 pm on September 24, 2026. The cut-off date for shareholding eligibility is September 18, 2026.

Shareholders holding securities in demat mode with NSDL or CDSL can vote through their respective depository portals. Those holding physical shares must use their folio numbers and EVENs to access the NSDL e-voting system.

Vivek J. Vakharia & Associates has been appointed as the scrutinizer for the voting process. The results will be declared immediately after the conclusion of the AGM.

Nanavati Ventures reported a significant divergence in its FY26 financials, with revenue surging 115% to ₹1,867.81 lakh while net profit after tax contracted 66% to ₹7.33 lakh. The Surat-based diamond trader attributed the profit decline to an increase in stock values, despite robust growth in operational turnover.

The company’s annual report for the fiscal year ended March 31, 2026, highlights a sharp expansion in top-line figures compared to ₹868.42 lakh in FY25. This growth was driven by higher volumes of rough diamonds procured and processed on a job-work basis, alongside improved realisations on polished diamonds and expanded precious metals trading activities.

Financial Performance

Despite the revenue jump, profitability metrics weakened considerably. Profit before tax dropped to ₹16.46 lakh from ₹31.25 lakh in the previous year. The directors noted that the decrease in net profit was primarily due to changes in inventory valuation rather than operational inefficiencies in core trading margins.

Other income stood at nil for FY26, down from ₹23.13 lakh in FY25, which had included interest income. Total expenses rose to ₹1,851.35 lakh from ₹860.30 lakh, largely reflecting the higher cost of purchases of stock in trade.

What the Numbers Show

The financial data reveals a working capital intensity typical of the diamond trading sector. While inventory turnover improved significantly to 1.12 times from 0.53 times in FY25, indicating faster stock movement, the current ratio deteriorated sharply to 2.31 times from 4.77 times. This decline signals a substantial increase in current liabilities relative to current assets, likely tied to the financing of larger inventory positions.

Trade receivables surged to ₹1,772.71 lakh from ₹593.16 lakh, outpacing revenue growth. Consequently, the trade receivable turnover ratio fell to 1.58 times from 2.93 times, suggesting that credit sales are growing faster than collection cycles. Meanwhile, cash and cash equivalents remained minimal at ₹2.21 lakh, highlighting tight liquidity management amidst scaled-up operations.

Governance and Board Changes

The annual report details several changes in the Board of Directors during the year. Mr. Vipulbhai Vachheta was appointed as Additional Director in March 2026 and is seeking re-appointment as Managing Director for a five-year term starting September 2026. Mr. Ankitkumar Shah was appointed as an Additional Director in April 2026 and is seeking regularisation as a Director liable to retire by rotation.

The 16th Annual General Meeting is scheduled for September 25, 2026, where shareholders will also consider the adoption of audited financial statements. The company did not declare any dividend for FY26, opting to retain profits for future expansion and resource conservation. Statutory auditors M/s. Vaghasia & Lakhani LLP issued an unqualified opinion on the financial statements.