Orosil Smiths , a New Delhi-based company listed on the BSE under scrip code 531626, has reported a significant increase in total income for the first quarter. However, the company's net profit saw a decline compared to the previous quarter.

Revenue Soars

The company's total income for Q1 stood at Rs. 97.49 lakhs, marking a substantial rise from Rs. 4.89 lakhs in the same quarter of the previous fiscal year. This represents a year-on-year growth of nearly 1,894%, indicating a remarkable improvement in the company's top-line performance.

Profit Declines

Despite the impressive revenue growth, Orosil Smiths experienced a decrease in its net profit after tax. The company reported a net profit of Rs. 3.44 lakhs for Q1, down from Rs. 81.07 lakhs in the previous quarter. This represents a significant quarter-on-quarter decline in profitability.

Key Financial Metrics

All figures in Rs. lakhs, except EPS in Rs.

The company's earnings per share (EPS) for the quarter stood at Rs. 0.01.

Regulatory Compliance

In compliance with SEBI regulations, Orosil Smiths has published its revised unaudited financial results for the quarter ended June 30, in both Hindi and English newspapers. The company has also filed these results with the stock exchange, as confirmed in their LODR (Listing Obligations and Disclosure Requirements) filing.

The full details of the quarterly financial results are available on the BSE website and the company's official website at www.orosil.com .

Investors and stakeholders are advised to review the complete financial statements for a comprehensive understanding of the company's performance and financial position.

Orosil Smiths India Limited , a prominent player in the jewelry sector, has released revised financial results for the first quarter, showing a significant turnaround in performance. The company has also announced its upcoming Annual General Meeting (AGM) and proposed changes to its board of directors.

Revised Q1 Financial Results

Orosil Smiths India has reported a profit of ₹3.44 lakh for the quarter, marking a substantial improvement from a loss of ₹13.58 lakh in the same period last year. The company's revenue from operations surged to ₹87.87 lakh, up from ₹4.54 lakh in the corresponding quarter of the previous year, indicating a strong recovery in its business activities.

The revision of financial results was necessitated due to accounting adjustments totaling ₹4.14 lakh. These adjustments include:

• Capitalization of investment premiums amounting to ₹3.25 lakh and ₹1.48 lakh, which were previously expensed.
• Correction of an overstatement in income by ₹58,273.

Financial Highlights

Annual General Meeting and Board Changes

Orosil Smiths India has scheduled its 31st Annual General Meeting for September 30, at 11:30 A.M. (IST) at YWCA of Delhi, 1 Ashoka Road, New Delhi. The company has announced a book closure period from September 24 to September 30 (both days inclusive).

Key agenda items for the AGM include:

1. Regularization of Ms. Arunima Sahu as an Independent Director
2. Re-appointment of Mr. Bhushan Kumar Narula as Chairman cum Managing Director
3. Re-appointment of Mrs. Rita Narula as Whole-time Director
4. Regularization of Mr. Deepankar Jain as an Independent Director

The remote e-voting period for shareholders will commence on September 27 at 09:00 A.M. and conclude on September 29 at 05:00 P.M. Ms. Prachi Bansal, a Practicing Company Secretary, has been appointed as the scrutinizer for the AGM voting process.

Board Member Profiles

• Ms. Arunima Sahu: A businesswoman with over two decades of experience in marketing and sales, specializing in jewelry manufacturing and food industry ventures.
• Mr. Bhushan Kumar Narula: A seasoned business leader with nearly three decades of industry experience, instrumental in shaping the company's vision and growth.
• Mrs. Rita Narula: An accomplished jewelry designer with over 30 years of experience, known for her creative vision and expertise in gems and stones.
• Mr. Deepankar Jain: A legal and financial professional with expertise in corporate law, compliance, and governance frameworks.

The revised financial results and proposed board changes reflect Orosil Smiths India's commitment to transparency and strategic growth in the competitive jewelry market.