UH Zaveri Limited, a company listed on the Bombay Stock Exchange (BSE: 541338), has released its unaudited financial results for the second quarter and first half of the fiscal year 2026, ending September 30, 2025. The results show a mixed performance with revenue growth but a decline in profitability compared to the same period last year.

Financial Highlights

Key Observations

Revenue Growth

UH Zaveri Limited reported a significant increase in revenue from operations, with Q2 FY2026 revenue up by 60.6% year-over-year to Rs. 1,078.27 lakhs. For the first half of FY2026, revenue grew by 34% to Rs. 1,638.13 lakhs compared to the same period last year.

Profitability Decline

Despite the revenue growth, the company experienced a decline in profitability. Net profit for Q2 FY2026 decreased by 53.3% to Rs. 2.01 lakhs, compared to Rs. 4.30 lakhs in Q2 FY2025. For H1 FY2026, net profit fell by 80.8% to Rs. 3.58 lakhs from Rs. 18.62 lakhs in H1 FY2025.

Expense Management

Total expenses increased proportionally with revenue growth. In Q2 FY2026, expenses rose to Rs. 1,075.76 lakhs from Rs. 663.26 lakhs in Q2 FY2025, an increase of 62.2%.

Balance Sheet Position

As of September 30, 2025, the company's total assets stood at Rs. 2,903.45 lakhs, a decrease from Rs. 3,270.13 lakhs as of March 31, 2025. The company's inventory levels decreased to Rs. 2,346.15 lakhs from Rs. 2,573.33 lakhs over the same period.

Borrowings

Long-term borrowings decreased to Rs. 849.35 lakhs as of September 30, 2025, from Rs. 1,244.81 lakhs at the end of the previous fiscal year, indicating a reduction in the company's debt burden.

Management Commentary

The Board of Directors, led by Managing Director Hitesh Mahendrakumar Shah, approved these unaudited financial results in a meeting held on November 4, 2025. The company's Audit Committee reviewed and recommended the financial results before the board's approval.

Market Implications

Following the announcement of these results, the trading window for designated persons and their immediate relatives, which had been closed since October 1, 2025, will reopen 48 hours after the public disclosure of the financial results.

UH Zaveri Limited operates within a single primary business segment. The company's performance reflects the challenges and opportunities in the Indian retail jewelry sector, with strong revenue growth potentially offset by increased operational costs and market pressures affecting profitability.

UH Zaveri Limited has announced the appointment of Mr. Ritesh Soni as Company Secretary and Compliance Officer, effective December 31, 2025. The appointment was approved by the Board of Directors during their meeting held on December 31, 2025, following recommendations from the Nomination and Remuneration Committee.

Board Meeting and Regulatory Communication

The Board of Directors meeting was conducted on December 31, 2025, at the company's registered office to address the appointment of a new Company Secretary and Compliance Officer. The company formally communicated this decision to BSE Limited through an official letter signed by Managing Director Mr. Hitesh Mahendrakumar Shah (DIN: 07907609). The communication was addressed to the General Manager of the Listing Corporate Relations Department at BSE Limited's Phiroze Jeejeebhoy Towers, Dalal Street, Mumbai.

Appointee Profile and Qualifications

CS Ritesh Soni is an Associate Member of the Institute of Company Secretaries of India with extensive experience in handling matters related to the Companies Act, Listing Regulations, and allied laws. The company confirmed that none of the Key Managerial Personnel (KMP), Senior Management, or directors are inter-se related to Mr. Soni, ensuring independence in the appointment.

Regulatory Compliance Framework

UH Zaveri Limited has informed BSE Limited about this key managerial appointment in strict compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company also adhered to SEBI Circular No. SEBI/HO/CFD/CFDPoD-1/P/CIR/2023/123 dated July 13, 2023, by providing comprehensive disclosure details through Annexure-A as part of Schedule III requirements.

This appointment ensures continuity in the company's compliance functions and strengthens the corporate governance framework. The formal communication to BSE was digitally signed and submitted on the same day as the board meeting, demonstrating prompt regulatory compliance and transparency in corporate governance practices.