AJC Jewel Manufacturers Receives Certificate for Subsidiary ESTHARA JEWELS

AJC Jewel Manufacturers Limited , a prominent player in the jewellery sector, has announced significant strategic moves to strengthen its market position and expand its operational footprint. The company has now received the incorporation certificate for its new subsidiary and provided updates on its earlier announced expansion plans.

Subsidiary Incorporation Update

The company has received the Certificate of Incorporation from ROC, Kerala for its subsidiary under the name "ESTHARA JEWELS PRIVATE LIMITED". This development follows the board's earlier approval for incorporating a wholly-owned subsidiary focused on silver jewellery retail business.

Parameter	Details
Subsidiary Name	ESTHARA JEWELS PRIVATE LIMITED
AJC Stake	88%
Promoter Stake (Mr. Ashraf P)	12%
Incorporation Authority	ROC, Kerala
Business Focus	Silver jewellery retail

The subsidiary structure differs slightly from the original plan, with AJC Jewel Manufacturers holding 88% of the equity share capital while promoter Mr. Ashraf P holds the remaining 12%. Despite this shareholding pattern, ESTHARA JEWELS PRIVATE LIMITED qualifies as a subsidiary company under the Companies Act, 2013 and SEBI (LODR) Regulations, 2015.

Share Swap Acquisition

The board of AJC Jewel Manufacturers has given the green light to acquire a 95% stake in AJC Jewel Manufacturers (FZE), a promoter-held entity. This acquisition, valued at Rs 4.00 crore, will be executed through a share swap mechanism.

Particulars	Details
Stake to be acquired	95%
Acquisition value	Rs 4.00 crore
Method of acquisition	Share swap
Shares to be issued	Up to 4,00,000 equity shares
Issue price	Rs 100.00 per share
Recipient of shares	Promoter Mr. Ashraf P

This strategic move is expected to consolidate AJC Jewel Manufacturers' shareholding in AJC Jewel Manufacturers (FZE), transforming it into a subsidiary of the company.

Financial Position

To provide context for these strategic decisions, the company's recent financial position shows strong growth across key metrics:

Metric	Current Year	1 Year Ago	Change (%)
Total Assets	49.40	37.20	+32.80%
Current Assets	45.70	33.30	+37.24%
Total Equity	14.70	11.90	+23.53%
Current Liabilities	32.80	23.60	+38.98%

The company has shown significant growth in its asset base and equity, indicating a strong financial foundation for these expansion initiatives.

These strategic moves by AJC Jewel Manufacturers demonstrate the company's commitment to growth and diversification within the jewellery sector. The successful incorporation of ESTHARA JEWELS PRIVATE LIMITED marks a key milestone in the company's expansion into silver jewellery retail, while the planned share swap acquisition will streamline operations with AJC Jewel Manufacturers (FZE).

1 Day	5 Days	1 Month	6 Months	1 Year	5 Years
-3.30%	-2.22%	+3.19%	-3.48%	-7.75%	-7.75%

AJC Jewel Manufacturers Limited , a prominent player in the gem and jewelry sector, has announced robust financial results for the half-year ended September 30, 2025, along with plans for international expansion through a strategic acquisition.

Financial Highlights

The company's unaudited financial results for the half-year reveal significant growth across key metrics:

Particulars	Half-year ended Sept 30, 2025 (₹ in lakhs)	Year ended March 31, 2025 (₹ in lakhs)
Revenue from Operations	9,917.25	22,086.35
Total Income	9,930.61	22,113.78
Profit Before Tax	358.77	391.45
Profit After Tax	260.88	286.34
Earnings Per Share (₹)	5.67	7.77

The company's balance sheet also showed notable improvements:

Share Capital increased to ₹606.84 lakhs from ₹444.84 lakhs
Reserves and Surplus rose to ₹2,480.09 lakhs from ₹1,029.03 lakhs
Trade Receivables grew to ₹3,558.57 lakhs from ₹1,782.86 lakhs

Expansion Plans

AJC Jewel Manufacturers has approved a proposal to acquire AJC Jewel Manufacturers FZE, a UAE-based promoter group entity operating in the same business line. This strategic decision aims to align and expand the company's revenues and operations in foreign markets.

The company stated that specific details regarding the percentage of acquisition, consideration, and mode of payment will be disclosed once mutually agreed upon and finalized between the parties involved.

Management Commentary

Ashraf P, Managing Director of AJC Jewel Manufacturers Limited, commented on the results, stating, "Our performance in the first half of the fiscal year demonstrates the strength of our business model and the growing demand for our products. The proposed acquisition of our UAE counterpart aligns with our strategy to expand our global footprint and capitalize on international market opportunities."

Market Response

Following the announcement, there has been notable market activity. On November 4, 2025, Amit Rajendra Prasad Agarwal, an investor not belonging to the promoter group, acquired 201,600 shares of the company through open market purchases. This acquisition increased Agarwal's stake in the company from 3.69% to 7.06%.

Outlook

With strong financial results and strategic expansion plans, AJC Jewel Manufacturers Limited appears to be positioning itself for continued growth in both domestic and international markets. The company's focus on expanding its global presence through the proposed UAE acquisition may provide new avenues for revenue generation and market penetration.

Investors and industry observers will be keenly watching for further details on the UAE acquisition and its potential impact on the company's future performance.