Uday Jewellery appoints Sanjay Kumar Sanghi as CMD via postal ballot

Uday Jewellery Industries Limited has secured shareholder approval for key management appointments and changes in designations through a remote e-voting process that concluded on June 14, 2026. The resolutions passed include the appointment of Sanjay Kumar Sanghi as Chairman and Managing Director (Corporate Affairs) and the regularization of Bhavna Sanghi as a Whole-Time Director. These changes are aimed at strengthening the company's leadership structure and operational oversight.

The postal ballot process, conducted in accordance with Regulation 44(3) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, saw the participation of shareholders holding 12,61,422 equity shares for the first four resolutions. For the fifth resolution, which involved the regularization of Ms. Donthineni Srilekha as a Non-Executive Independent Director, the votes polled increased to 1,55,48,009 shares, including significant participation from the promoter group. All resolutions were passed with the requisite majority, receiving 100% of the votes in favour.

Voting Summary

The remote e-voting was facilitated by Central Depository Services (India) Limited (CDSL) and was open from May 16, 2026, to June 14, 2026. The total number of equity shares on the record date of May 08, 2026, was 3,40,52,925. The scrutinizer for the process was CS. Ajay Suman Shrivastava, a Practicing Company Secretary.

Resolution	Description	Votes Polled	Votes in Favour	% in Favour
1	Appointment of Shri. Sanjay Kumar Sanghi as CMD	12,61,422	12,61,421	100.00
2	Redesignation of Shri. Ritesh Kumar Sanghi as JMD	12,61,422	12,61,421	100.00
3	Regularization of Mrs. Bhavna Sanghi as Director	12,61,422	12,61,421	100.00
4	Appointment of Mrs. Bhavna Sanghi as Whole-Time Director	12,61,422	12,61,421	100.00
5	Regularization of Ms. Donthineni Srilekha as Non-Executive Independent Director	1,55,48,009	1,55,48,008	100.00

Key Appointments

The Board of Directors had appointed CS. Ajay Suman Shrivastava to ensure the e-voting was conducted fairly. The results were submitted to BSE Limited on June 15, 2026. The company has confirmed that all procedural requirements under the Companies Act, 2013, and the SEBI Listing Regulations were met during the process.

The approvals mark a significant restructuring of the company's top management. Sanjay Kumar Sanghi will now serve as the Chairman and Managing Director (Corporate Affairs), while Ritesh Kumar Sanghi transitions to the role of Joint Managing Director (Operations). Bhavna Sanghi's regularization and appointment as Whole-Time Director further solidify the company's governance framework.

1 Day	5 Days	1 Month	6 Months	1 Year	5 Years
+0.60%	+0.37%	-4.15%	+1.97%	-1.61%	+27.61%

Uday Jewellery Industries reported a net profit of ₹3576.78 lakh for the financial year ended March 31, 2026, a 127% increase from ₹1575.40 lakh in the previous year. Revenue from operations for FY26 stood at ₹72563.09 lakh, compared to ₹37175.92 lakh in FY25. The Board approved the audited financial results for the quarter and year ended March 31, 2026, along with the Statutory Audit Report with an unmodified opinion. The company published the audited financial results in the Financial Express and Namasthe Telangana newspapers on May 29, 2026, pursuant to Regulation 47 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Financial Performance

For the quarter ended March 31, 2026, the company recorded a net profit of ₹1066.17 lakh, a significant rise from ₹180.99 lakh in the corresponding period of the previous year. Revenue for Q4FY26 was ₹22634.57 lakh, up from ₹10634.20 lakh in Q4FY25. The financial results reflect the impact of the merger with Narbada Gems and Jewellery Limited, approved by the National Company Law Tribunal on January 21, 2026, with an appointed date of April 1, 2024. Consequently, comparative figures for the prior periods have been restated to present the standalone performance of the combined entity.

Metric	FY26 (₹ in Lakhs)	FY25 (₹ in Lakhs)	Change
Revenue from Operations	72563.09	37175.92	Increase
Net Profit	3576.78	1575.40	127% YoY
Total Income	73362.59	37284.33	Increase
Earnings Per Share (Basic)	10.78	4.92	Increase

Dividend Declaration

The Board recommended a final dividend of ₹0.5 per equity share, or 5%, for the financial year ended March 31, 2026. The dividend is subject to approval by shareholders at the ensuing Annual General Meeting. If approved, it will be credited or dispatched to members within 30 days of the declaration. The Board also approved opening a Dividend Distribution Account with Kotak Mahindra Bank Limited to facilitate the payment.

Governance and Appointments

The Board accepted the resignation of Mr. Balasubramanyam Danturti from the office of Independent Director, effective from the close of business hours on May 21, 2026, due to personal reasons. Following this, the Board reconstituted the Audit Committee by inducting Ms. Srilekha Donthineni as a member. Additionally, the Board appointed M/s. Aheer & Associates, Chartered Accountants, as the Internal Auditors for FY 2026-27.

Strategic Approvals

The Board approved a proposal to list 3,40,52,925 securities of the company on the National Stock Exchange of India Limited (NSE) through Direct Listing norms. The meeting also reviewed and approved related party transactions, including a lease of fixed assets from Sanghi Jewellers Private Limited. The Board took note of the closure of preferential issue bank accounts and authorized the completion of related banking formalities.