Manoj Jewellers Limited Shareholders Approve Remuneration Increases for Key Directors

Manoj Jewellers Limited , a prominent player in the jewelry industry, has recently secured strong shareholder support for remuneration increases for three of its key directors. The company conducted a postal ballot voting process, which concluded with overwhelming approval for all three special resolutions proposed.

Voting Results

The postal ballot, which ended on November 18, saw a significant turnout with the following results:

Resolution	In Favor	Against	Approval Rate
Increasing remuneration of Mr. Manoj Kumar (Chairman and Managing Director)	242,000	4,000	98.37%
Increasing remuneration of Mr. Sunil Kumar (Executive Director)	242,000	4,000	98.37%
Increasing remuneration of Mrs. Raj Kumari (Whole Time Director)	242,000	4,000	98.37%

Key Highlights

A total of 10 members voted in favor of each resolution, while 2 members voted against.
The voting process was conducted through remote e-voting, ensuring a secure and accessible method for shareholders to participate.
The resolutions were passed as special resolutions, indicating the significance of the proposed changes.
The scrutiny of the voting process was carried out by CS Dilip Kumar Swarnkar, a Practicing Company Secretary, ensuring transparency and compliance with regulatory requirements.

Implications

The strong shareholder support for these remuneration increases suggests confidence in the company's leadership and their ability to drive growth. It also indicates that shareholders believe the proposed compensation adjustments are in line with industry standards and the company's performance.

Corporate Governance

Manoj Jewellers Limited has demonstrated its commitment to good corporate governance practices by:

Conducting a transparent voting process
Engaging an independent scrutinizer to oversee the voting
Promptly disclosing the voting results to the stock exchange and shareholders

The company's adherence to regulatory requirements, including those set by the Securities and Exchange Board of India (SEBI), underscores its commitment to maintaining high standards of corporate governance.

As Manoj Jewellers Limited moves forward with these approved remuneration increases, stakeholders will likely be watching closely to see how this translates into company performance and shareholder value in the coming periods.

1 Day	5 Days	1 Month	6 Months	1 Year	5 Years
+4.29%	+1.98%	+12.83%	+12.66%	-1.38%	-1.38%

Manoj Jewellers Limited , a retail jewellery business specializing in gold and diamond ornaments, has announced its financial results for the half-year ended September 30, 2025, revealing a complex picture of growth and challenges.

Revenue Surge and Profit Decline

The company reported a substantial increase in revenue from operations, rising to Rs. 6,135.38 lakhs from Rs. 2,483.98 lakhs in the same period last year, marking an impressive year-on-year growth of 147%. However, despite this significant top-line growth, the company's profit after tax (PAT) declined by 54% to Rs. 40.56 lakhs, compared to Rs. 88.25 lakhs in the previous year.

Financial Highlights

Here's a breakdown of key financial metrics:

Metric	H1 2025	H1 2024	Change
Revenue from Operations (Rs. lakhs)	6,135.38	2,483.98	+147%
Profit After Tax (Rs. lakhs)	40.56	88.25	-54%
Basic Earnings Per Share (Rs.)	6.78	4.38	+55%
Share Capital (Rs. lakhs)	898.56	598.56	+50%
Reserves and Surplus (Rs. lakhs)	2,650.72	604.16	+339%

Capital Structure and IPO

Manoj Jewellers has undergone significant changes in its capital structure. The company's share capital increased by 50% to Rs. 898.56 lakhs from Rs. 598.56 lakhs. More notably, the reserves and surplus saw a substantial growth of 339%, reaching Rs. 2,650.72 lakhs from Rs. 604.16 lakhs in the previous year.

This dramatic increase in reserves and surplus can be attributed to the company's recent Initial Public Offering (IPO). Manoj Jewellers completed its IPO and was listed on the BSE SME Platform on May 12, 2025. The IPO involved the allotment of 30,00,000 equity shares at a price of Rs. 54 per share.

Performance Analysis

While the company has shown remarkable growth in revenue, the decline in profit after tax raises questions about increased operational costs or other factors affecting profitability. The substantial increase in revenue suggests strong demand for the company's gold and diamond ornaments, potentially reflecting positive consumer sentiment in the jewellery sector.

The increase in basic earnings per share to Rs. 6.78 from Rs. 4.38, despite the decline in total profit, is likely due to the changes in the company's capital structure following the IPO.

Conclusion

Manoj Jewellers' half-year results present a mixed picture. The company has demonstrated strong revenue growth and successfully completed its IPO, significantly strengthening its balance sheet. However, the decline in profitability may be a concern for investors. As the company navigates its post-IPO phase, stakeholders will likely be keen to see how Manoj Jewellers leverages its expanded capital base to drive sustainable growth and improve bottom-line performance in the coming quarters.