Pushpa Jewellers Limited has strengthened its governance structure by appointing Mohit Dujari as an Independent Director for a five-year term. The appointment, effective from June 26, 2026, is subject to shareholder approval and aims to leverage Dujari's extensive experience in corporate laws and governance. This strategic move is part of the company's broader boardroom refresh and compliance enhancement efforts.

The Board of Directors, meeting on June 26, 2026, approved the revision of remuneration for its top executives. Managing Director Anupam Tibrewal and Whole-Time Director & CEO Mridul Tibrewal will see revised compensation packages effective from April 1, 2026, pending necessary approvals under applicable laws. These adjustments align with the recommendations made by the Nomination and Remuneration Committee.

Consequent to the new appointment, the Board reconstituted the Nomination and Remuneration Committee. The committee now comprises entirely Non-Executive & Independent Directors, ensuring robust oversight. Mohit Dujari has been appointed as the Chairperson of the committee, joined by members Gargi Singh and Shaista Afreen.

Nomination and Remuneration Committee Composition

Mohit Dujari brings over a decade of expertise as a Practicing Company Secretary. He holds a Bachelor of Commerce from the University of Calcutta and a Bachelor's degree in Law from The University of Burdwan. A Fellow Member of the Institute of Company Secretaries of India, he has also completed an Executive Course on Business and Corporate Laws from IIM Calcutta. The company confirmed there are no inter-se relationships between Dujari and other directors.

Pushpa Jewellers Limited reported a 16.2% rise in net profit to ₹258.85 crore for the financial year ended March 31, 2026, supported by a 48.8% increase in revenue from operations to ₹4,183.89 crore. The company’s earnings per share (EPS) for the year stood at ₹11.36, compared to ₹11.82 in the previous year. The board approved the audited standalone financial results, which were subject to an unmodified opinion from statutory auditors M/s. S K Agarwal and Co Chartered Accountants LLP.

The total income for FY26 rose to ₹4,195.48 crore from ₹2,812.71 crore in the previous year. Expenses increased to ₹3,832.85 crore, with the cost of raw materials consumed rising to ₹3,880.91 crore. The company’s profit before tax for the year was ₹349.95 crore, up from ₹298.06 crore in FY25. The finance costs for the year were ₹20.99 crore, while depreciation and amortization expenses stood at ₹10.32 crore.

Financial Performance

The company’s balance sheet as of March 31, 2026, showed total assets of ₹1,775.25 crore, a significant increase from ₹854.86 crore in the previous year. Shareholders' funds grew to ₹1,544.36 crore, driven by an increase in share capital to ₹242.23 crore and reserves and surplus to ₹1,302.13 crore. Non-current liabilities stood at ₹165.78 crore, while current liabilities decreased to ₹65.11 crore.

Corporate Governance and Approvals

The board approved the reconstitution of the Audit Committee and Stakeholders’ Relationship Committee following the resignation of Mr. Pranay Agarwal, an Independent Director. Ms. Shaista Afreen was appointed as the Chairperson of both committees. The Nomination and Remuneration Committee is currently not in compliance with Regulation 19 of SEBI LODR Regulations, and the company is in the process of appointing a suitable independent director to reconstitute the committee within prescribed timelines.

The board also took note of the outcome of the Extraordinary General Meeting held on May 6, 2026, where shareholders did not approve the special resolution for the issuance of warrants on a preferential basis. Consequently, the proposed preferential issue will not proceed. The company confirmed completion of statutory and regulatory compliances under SEBI LODR Regulations for the quarter ended March 31, 2026.