Radhika Jeweltech Ltd shareholders unanimously approved all seven resolutions proposed at the company's 10th Annual General Meeting (AGM), held on September 30, 2026. The meeting, conducted via video conferencing, saw the adoption of audited financial statements for FY26 and the re-appointment of three key directors.

The AGM commenced at 2:00 pm and concluded at 2:24 pm. A total of 86 shareholders attended the meeting through video conferencing, representing both promoter and public categories. The voting results were disclosed under Regulation 44(3) of SEBI (LODR) Regulations, 2015, with the scrutinizer’s report submitted to stock exchanges on October 2, 2026.

Key Resolutions Passed

The following ordinary and special resolutions were passed by the requisite majority:

1. Adoption of audited financial statements for FY26.
2. Re-appointment of Darshit A. Zinzuwadia as Director.
3. Re-appointment of Ashokkumar Mathurdas Zinzuwadia as Managing Director.
4. Re-appointment of Hareshbhai Mathurbhai Zinzuwadia as Whole Time Director.
5. Re-appointment of Darshit Ashokbhai Zinzuwadia as Whole Time Director.
6. Regularisation of Dholakiya Dipakkumar Natwarlal as Independent Director.
7. Regularisation of Preetiben Bakulbhai Fichadia as Independent Director.

Voting Results Overview

The voting data highlights a strong consensus among shareholders, with minimal dissent recorded across all agenda items. The promoter group voted in favor of all resolutions, while public non-institutional shareholders showed minor opposition in specific director re-appointments.

What the Numbers Show

The voting pattern reveals a clear divergence between promoter and public sentiment regarding the Managing Director’s re-appointment. While promoters voted 100% in favor, public non-institutional shareholders cast 12,414 votes against this specific resolution, marking the highest dissent count among all items. In contrast, votes against other director re-appointments and independent director regularisations ranged between 6,414 and 6,859 votes. This suggests that while the overall governance structure is supported, there was slightly more scrutiny on the MD’s role compared to other board positions.

Radhika Jeweltech reported a 24.41% year-on-year increase in net profit for the financial year ended March 31, 2026, reaching ₹7,479.01 lakh. The growth was driven by improved margins on gold jewellery sales and sustained upward movement in gold prices.

Revenue from operations rose by 8.74% to ₹63,913.97 lakh, up from ₹58,778.71 lakh in the previous fiscal year. Profit before tax expanded by 19.27% to ₹10,055.64 lakh. Basic and diluted earnings per share increased from ₹5.09 to ₹6.34.

Financial Performance

The company's profitability outpaced revenue growth, reflecting operational efficiency despite a challenging environment characterized by rising metal costs. Total income stood at ₹64,008.29 lakh, including other income of ₹94.32 lakh.

Balance Sheet and Working Capital

Total assets expanded by 27.78% to ₹48,024.09 lakh, primarily due to a significant increase in inventory. Inventory levels rose by 29.46% to ₹45,981.80 lakh from ₹35,518.75 lakh, reflecting higher carrying values associated with rising gold prices rather than just volume accumulation.

Total equity strengthened by 23.33% to ₹39,792.95 lakh, supported by retained earnings. Current borrowings increased to ₹4,999.11 lakh from ₹3,359.43 lakh, partly funded by extended supplier credit terms as trade payables rose to ₹1,548.43 lakh.

What the Numbers Show

Inventory now constitutes approximately 95.7% of total current assets (₹45,981.80 lakh against ₹46,935.11 lakh). This high concentration underscores the capital-intensive nature of the jewellery business and highlights the company's exposure to gold price volatility. The surge in inventory value outpaced revenue growth, indicating that working capital requirements are expanding faster than top-line sales.

Operational Updates

The company continued investing in retail infrastructure, reopening its renovated Palace Road showroom in October 2025. Work on reworking the Diamond, Polki, and bridal jewellery section at Kalawad Road is targeted for completion ahead of the festive season. Radhika Jeweltech was featured in Forbes Asia's 'Best Under a Billion' list for the second consecutive year.