Rolex Rings Limited successfully concluded its postal ballot voting process on March 1, 2026, with shareholders demonstrating strong support for key corporate governance decisions. The company announced that all four resolutions proposed in the postal ballot notice dated January 27, 2026, were approved with requisite majority through the remote e-voting process.

Executive Remuneration Approvals

Shareholders overwhelmingly approved remuneration revisions for three key executives of the company. The voting results demonstrated strong institutional and promoter support across all three special resolutions.

The first resolution for Mr. Manesh Dayashankar Madeka's remuneration revision as Chairman & Managing Director received 98.03% approval, with the revised monthly remuneration set at Rs. 14,00,000 effective from November 10, 2025. The promoter and promoter group category showed unanimous support with 100% votes in favour, while public institutions supported the resolution with 97.87% approval rate.

Detailed Remuneration Structure

The approved remuneration revisions include specific monthly compensation packages for each executive position. Mr. Bhautik Dayashankar Madeka, Whole-time Director, received approval for revised monthly remuneration of Rs. 14,00,000, while Mr. Mihir Rupeshkumar Madeka, Whole-time Director, was approved for Rs. 10,00,000 per month, both effective from November 10, 2025.

Strong Institutional Support

Public institutions demonstrated significant participation and support across all resolutions. For the remuneration revisions of Whole-time Directors Mr. Bhautik Dayashankar Madeka and Mr. Mihir Rupeshkumar Madeka, both resolutions received 99.47% approval rates, with public institutions showing 99.44% support for both resolutions.

Promoter Group Reclassification

The fourth resolution, an ordinary resolution for reclassification of certain promoter group members to public shareholders, received mixed but sufficient support for approval. With 84,113,530 valid votes cast, 52,644,007 votes (62.59%) were in favour while 31,469,523 votes (37.41%) were against the resolution.

The reclassification involves two individuals: Hemal Paresch Madeka, holding 30,90,000 equity shares (1.13% of total paid-up share capital), and Sanjay Bhagwanji Bole, who holds no shares currently. Notably, the promoter and promoter group abstained from voting on this resolution due to their interest in the matter, with 6,761,921 shares abstaining from the voting process.

Voting Process and Compliance

The postal ballot process was conducted entirely through electronic voting, with the voting period commencing at 09:00 hours on January 31, 2026, and concluding at 17:00 hours on March 1, 2026. CS Purvi Dave of MJP Associates, Practising Company Secretaries, served as the scrutinizer for the voting process.

The company confirmed compliance with MCA Circular No. 11/2022 dated December 28, 2022, and General Circular No. 09/2023 dated September 25, 2023, conducting the entire process electronically without physical postal ballot forms. Public advertisements were published in Financial Express (English) and Financial Express (Gujarati) on January 31, 2026, ensuring proper notification to shareholders.

Rolex Rings Limited has announced its unaudited financial results for the quarter and nine months ended December 31, 2025. The Board of Directors approved these results at their meeting held on February 09, 2026, following review by the Audit Committee.

Q3FY26 Financial Performance

The company delivered strong quarterly performance with significant growth across key metrics:

Nine Months Performance

For the nine months ended December 31, 2025, the company maintained steady performance:

Key Financial Highlights

The company's cost structure showed mixed trends during the quarter. Cost of raw materials and components consumed decreased to ₹1,146.62 million from ₹1,247.75 million in the corresponding quarter last year. Employee benefits expense remained stable at ₹168.54 million compared to ₹169.49 million in Q3FY25.

Other income witnessed substantial growth to ₹174.17 million in Q3FY26 from ₹38.52 million in the previous year quarter, contributing significantly to overall profitability.

Exceptional Items and Provisions

The company recognized exceptional items worth ₹24.46 million during the quarter, primarily related to increased gratuity liability arising from the Government of India's notification of new Labour Codes on November 21, 2025. This resulted in past service cost adjustments due to changes in wage definition.

Regarding the Right to Recompense matter with consortium banks, the previous demand notice for ₹2,278.60 million was withdrawn on January 08, 2026. The company maintains a total provision of ₹506 million towards potential liability, with management continuing discussions for settlement.

Corporate Actions and Compliance

The company completed a stock split approved by shareholders in the Annual General Meeting held on September 29, 2025. Each equity share with face value of ₹10 was subdivided into ten shares of ₹1 each, effective from the record date of October 17, 2025. The paid-up equity share capital stands at ₹272.33 million comprising 272,333,120 equity shares.

The financial results were prepared in accordance with Indian Accounting Standards and reviewed by S R B C & CO LLP, Chartered Accountants, who issued a qualified review report due to the ongoing bank consortium matter.