Patdiam Jewellery shareholders appointed M/s. Pulindra Patel & Co., Chartered Accountants, as the company's statutory auditor for a first term of five consecutive financial years, from FY27 to FY31.

The appointment was approved during the 27th Annual General Meeting held on September 30, 2026, based on the recommendation of the Audit Committee and Board of Directors. The meeting also authorized an enhancement of borrowing limits to ₹200 crore and approved related party transactions for FY26.

Auditor Appointment Details

M/s. Pulindra Patel & Co., Chartered Accountants (ICAI Firm Registration No. 115187W), was appointed as the statutory auditor effective September 30, 2026. The firm holds Peer Review Certificate No. 021194 and offers assurance services including tax audit and internal financial controls audit. The reason for the change is listed as "Appointment as Statutory Auditor of the Company."

Key Resolutions Passed

The following ordinary and special resolutions were passed with requisite majority through ballot paper:

Borrowing Limits and Securitization

The special resolution allows the company to borrow up to ₹200 crore or the prescribed limit under Section 180(1)(c) of the Companies Act, whichever is higher. Members also authorized the creation of mortgages or charges on movable and immovable properties to secure these borrowings.

Related Party Transactions Approved

Shareholders approved annual transaction caps with three related entities. The total approved exposure across these parties stands at ₹65 crore per annum.

Governance and Voting Mechanism

The meeting noted that e-voting was not provided as the company falls under exemption categories per SEBI (ICDR) Regulations, 2009, necessitating voting via ballot paper. Samir Kakadia, Managing Director (DIN: 00178128), signed the disclosure filed with the Bombay Stock Exchange.

Patdiam Jewellery reported a standalone net profit of ₹1,611.37 lakh for the financial year ended March 31, 2026, marking a significant increase from ₹1,190.45 lakh in FY25. The Mumbai-based jewellery manufacturer also filed its annual report on September 7, 2026, ahead of its 27th Annual General Meeting scheduled for September 30, 2026.

Financial Performance

The company’s total income rose to ₹18,017.53 lakh in FY26, up from ₹16,124.00 lakh in the previous year. Revenue from operations specifically grew to ₹17,130.00 lakh, compared to ₹15,775.94 lakh in FY25. This top-line growth was supported by export sales of diamond-studded gold and silver jewellery, which remained the primary revenue driver.

Profit before tax expanded to ₹2,220.76 lakh from ₹1,620.70 lakh in FY25. Despite a higher current tax provision of ₹600.00 lakh against ₹7.70 lakh in the prior year, the net profit after tax improved substantially due to operational efficiencies and favorable foreign exchange movements.

What the Numbers Show

A notable divergence exists between the growth in operating revenue and the surge in other income. While revenue from operations increased by approximately 8.6%, other income jumped to ₹887.52 lakh from ₹348.05 lakh in FY25. This sharp rise was primarily driven by net gains on foreign currency transactions and translation, amounting to ₹881.54 lakh. Consequently, non-operating gains contributed significantly to the bottom-line expansion, highlighting the impact of currency fluctuations on the company’s profitability profile.

Corporate Governance and AGM

The Board of Directors recommended no dividend for FY26, stating that profits would be ploughed back into operations for working capital requirements. At the upcoming AGM, shareholders will consider the re-appointment of Mrs. Priti Kakadia as a director and the appointment of M/s. Pulindra Patel & Co. as statutory auditors for five years.

Additionally, the company seeks approval for related party transactions with entities including Patdiam LLP and Patdiam Jewels, with maximum annual limits set at ₹50 crore and ₹10 crore respectively. Shareholders will also vote on enhancing borrowing limits to ₹200 crore to fund working capital and asset acquisitions.