Uday Jewellery Industries Limited completed its 27th Annual General Meeting on September 28, 2026, with all 11 proposed resolutions passing by the requisite majority. The meeting was conducted via Video Conferencing and Other Audio-Visual Means.

The Consolidated Scrutinizer's Report, submitted on September 29, 2026, confirmed that remote e-voting and venue e-voting results supported the adoption of audited financial statements for FY26, appointment of statutory auditors, and the declaration of a dividend of ₹0.50 per equity share (5% on face value of ₹10).

Voting Results Overview

A total of 7,247 shareholders were eligible to vote as on the cut-off date of September 21, 2026. Of these, 136 members cast their votes through the electronic voting system provided by CDSL. The scrutiny process was overseen by Practising Company Secretary Ajay Suman Shrivastava.

The following table summarizes the voting outcome for key ordinary business items:

Special Business and Related Party Approvals

Members also approved several special business items, including material related party transactions with Sanghi Jewellers Private Limited and rent payments to directors and promoters. These resolutions received overwhelming support from the voting public shareholders, excluding interested parties as required under the Companies Act, 2013.

Key approvals included:

• Increase in borrowing powers under Section 180(1)(c).
• Creation of security for borrowings under Section 180(1)(a).
• Investments, loans, and guarantees exceeding limits under Section 186.
• Appointment of Tejas Sanghi and Sakshi Sanghi to offices or places of profit with remuneration.

What the Numbers Show

The voting data reveals a stark divergence in participation between ordinary and special business items. For ordinary resolutions such as the dividend declaration, approximately 26.28 million votes were cast in favour. However, for related party transactions (Items 5, 6, 10, and 11), the total valid votes dropped significantly to roughly 2.46 million. This reduction reflects the mandatory exclusion of votes held by promoters and interested parties in related party matters, leaving the decision entirely to the minority public shareholder base. Despite this narrower voting pool, all special resolutions passed with over 99.99% support among eligible voters.

Uday Jewellery Industries Limited reported a 127% increase in net profit to ₹35.77 crore for FY26, driven by significant inorganic growth from recent corporate actions.

The company’s revenue from operations surged 95% year-on-year to ₹725.63 crore, compared to ₹371.76 crore in FY25. This sharp expansion was primarily attributed to the acquisition of Sanghi Jewellers Private Limited’s business and the amalgamation of Narbada Gems and Jewellery Limited, which added high-value diamond manufacturing capabilities.

Financial Performance Highlights

The company’s total income stood at ₹733.63 crore, reflecting a robust operational scale-up. Profit before tax rose to ₹48.61 crore from ₹21.32 crore in the previous year. Earnings per share (EPS) improved significantly, with basic and diluted EPS rising to ₹10.78 from ₹4.92.

Strategic Consolidation and Growth

The financial results reflect the impact of the Scheme of Amalgamation with Narbada Gems and Jewellery Limited, sanctioned by the NCLT Hyderabad Bench in January 2026. The scheme, effective from February 19, 2026, with an appointed date of April 1, 2024, led to the allotment of 97.81 lakh equity shares to Narbada shareholders. Additionally, the integration of Sanghi Jewellers Private Limited’s operations in October 2025 contributed materially to the expanded revenue base.

Management highlighted that the combined entity now benefits from an enlarged manufacturing footprint, including a 40,000 sq. ft. facility in Hyderabad with an installed capacity of 125 kg per month. The company plans to leverage this scale to deepen its wholesale distribution network and explore B2C opportunities through franchising and e-commerce.

What the Numbers Show

A divergence between revenue growth and margin stability is evident. While revenue nearly doubled, the net profit margin remained relatively consistent at approximately 4.9%, suggesting that the inorganic growth was accretive without diluting profitability. However, working capital intensity increased significantly; inventories rose to ₹205.44 crore and trade receivables climbed to ₹133.91 crore, indicating higher capital deployment to support the larger operational scale.

Governance and Shareholder Returns

At the 27th Annual General Meeting held via video conferencing, shareholders approved a dividend of ₹0.50 per equity share for FY26. The board also approved special resolutions to enhance borrowing powers up to ₹250 crore and to approve related party transactions with Sanghi Jewellers Private Limited, underscoring the ongoing integration of group entities. The company has also applied for listing on the National Stock Exchange (NSE), aiming to broaden its investor base beyond its current BSE listing.