Shubhlaxmi Jewel Art Limited reported a net profit of ₹106.16 lakh for the financial year ended March 31, 2026, on revenue from operations of ₹6,265.24 lakh. The Board adopted the audited standalone financial results for the year at a meeting held on May 30, 2026. The statutory auditors issued a qualified opinion due to their inability to verify inventory quantities and valuations aggregating ₹4,806.18 lakh, as physical verification was not carried out and independent valuer reports were absent.

The Board approved the reappointment of Mr. Narendrasinh J Chauhan as Chairman and Managing Director for a consecutive term of five years effective May 30, 2026. His remuneration was revised to ₹70 Lakhs per annum effective June 1, 2026, subject to member approval. Mr. Narendrasinh J Chauhan is a promoter of the company with over 30 years of experience in the jewelry business.

In other governance decisions, the Board designated M/s. Parth Nair and Associates as Secretarial Auditor and M/s. A R Parmar & Co as Internal Auditor for FY27. The Board also approved related party transactions with M/s Laxmi Gold Gems Private Limited for the sale, purchase, and labour charges of goods and materials not exceeding ₹15 Crore per annum for FY27.

The Board sanctioned the reclassification of Mr. Jitendrakumar J Chauhan and Mrs. Kajal Jitendrakumar Chauhan from Promoter Group Shareholder to Public Shareholder. This change, subject to approvals from stock exchanges and shareholders pursuant to Regulation 31A of the SEBI (LODR) Regulations, 2015, follows a family settlement agreement. The company confirmed it will remain compliant with minimum public shareholding requirements post-reclassification. On June 3, 2026, the company submitted an application to the National Stock Exchange of India Limited seeking no objection for this reclassification.

Key Financial Metrics for FY26

Key Board Approvals

Bikash Tarafdar resigned as Independent Director of Shubhlaxmi Jewel Art Limited effective from the close of business hours on June 2, 2026, due to pre-occupation and other personal and professional commitments. The resignation was intimated to the National Stock Exchange of India Limited under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. Consequently, Tarafdar stepped down from the Audit Committee, Nomination and Remuneration Committee, and any other board committees where he was a member, effective the same date.

In his resignation letter, Tarafdar confirmed pursuant to Clause 7B of Part A of Schedule III to the Listing Regulations that there are no other material reasons for his resignation other than those stated. He requested the company to complete necessary compliance formalities with the stock exchanges and file e-Form DIR-12 with the Registrar of Companies, Ahmedabad. The disclosure was signed by Managing Director Narendrasinh Jesingbhai Chauhan.

Directorships and Committee Memberships

The filing disclosed the names of listed entities where Tarafdar holds directorships. He serves as an Independent Director in four other companies, as detailed below: