Minal Industries Limited , a company specializing in jewellery, gems, and precious stones, has announced the appointment of Mrs. Disha Hiteshkumar Rathod as a Non-Executive Independent Director. The appointment, approved by shareholders through a postal ballot process, is for a five-year term commencing from May 30, 2025, to May 29, 2030.

Shareholder Approval and Voting Results

The company conducted a postal ballot through remote e-voting to seek shareholder approval for the appointment. The voting results, as reported by scrutinizer Mr. Kunal Sakpal of HSPN & Associates LLP, showed overwhelming support for the resolution:

The special resolution passed with a significant majority, receiving 99.99% votes in favor of Mrs. Rathod's appointment.

Director's Expertise

Mrs. Disha Hiteshkumar Rathod brings valuable experience to Minal Industries Limited. Her expertise spans across jewellery, gems, diamonds, and semi-precious stones. The company highlighted her strong marketing skills and extensive contacts in overseas markets as key assets that will contribute to the firm's growth and expansion strategies.

Regulatory Compliance

Minal Industries Limited confirmed that Mrs. Rathod meets all regulatory requirements for the director position. The company stated that she is not debarred from holding a directorship by the Securities and Exchange Board of India (SEBI) or any other authority. Additionally, Mrs. Rathod is not disqualified from holding the office of director under Section 164 of the Companies Act, 2013.

Corporate Governance

The appointment of Mrs. Rathod as an Independent Director aligns with Minal Industries' commitment to strong corporate governance practices. Her role will involve providing independent oversight and contributing to the company's strategic decisions, leveraging her industry knowledge and market insights.

The addition of Mrs. Disha Hiteshkumar Rathod to the board is expected to bring fresh perspectives and strengthen Minal Industries Limited's position in the jewellery and precious stones sector.

Minal Industries Limited has reported robust financial results for the first quarter, with significant growth across key metrics.

Revenue Soars

The company's total income from operations more than doubled, reaching Rs. 1,245.70 lakhs, compared to Rs. 574.39 lakhs in the same quarter of the previous year, marking a substantial increase of 117%.

Profit Margins Improve

Minal Industries saw a notable improvement in its profitability:

• Net profit before tax grew to Rs. 76.62 lakhs, up from Rs. 37.92 lakhs, representing a 102% increase.
• Net profit after tax rose to Rs. 68.14 lakhs from Rs. 37.92 lakhs, showing a 79.7% growth.

Comprehensive Income Boost

The company's total comprehensive income for the quarter increased significantly to Rs. 81.25 lakhs, compared to Rs. 37.88 lakhs in the previous year's corresponding quarter, reflecting a 114.5% rise.

Financial Performance Overview

The company's strong performance demonstrates its ability to capitalize on market opportunities and improve operational efficiency. The substantial revenue growth, coupled with enhanced profitability, positions Minal Industries for a promising period ahead.

Investors and stakeholders will likely be watching closely to see if the company can maintain this growth trajectory in the coming quarters.