Veeram Securities Limited, now known as Viram Suvarn Limited, has received a comprehensive research report from A&Y Market Research, a SEBI-registered research analyst. The report, dated January 23, 2026, provides detailed analysis of the company's business transformation and financial performance.

Business Transformation and Operations

Viram Suvarn Limited completed its strategic transformation in November 2025, changing its name from Veeram Securities Limited to better reflect its focus on the jewellery business. The Ahmedabad-based company operates an integrated business model encompassing wholesale distribution of gold bullion, silver trading, and ready-made jewellery supply.

The company's product portfolio includes:

• Chains, bangles, necklaces, earrings, and rings
• Traditional ornaments with and without precious stones
• Products designed for weddings, festivals, and daily wear
• Combinations of traditional Indian craftsmanship with modern styles

Strong Financial Performance

The research report highlights impressive financial growth across key metrics for FY 2024-25:

The nine-month performance for FY 2025-26 demonstrates continued momentum, with revenue reaching ₹19.28 crore compared to ₹17.09 crore in the previous year. Net profit showed remarkable growth, increasing to ₹6.19 crore from ₹2.44 crore in the corresponding period.

Balance Sheet Strength and Capital Plans

Viram Suvarn Limited maintains a robust financial position with zero long-term debt. As of March 2025, the company's balance sheet shows:

The company has announced a rights issue planned for 2026 to raise ₹30.26 crore at ₹8 per share, with a rights ratio of 1:2. The funds will be utilized to strengthen the balance sheet and support future growth initiatives.

Market Position and Expansion

The research report notes that Viram Suvarn Limited has obtained its Import Export Code and applied for TRQ Code from DGFT, enabling the company to import raw gold and export finished jewellery. This strategic move allows the company to explore overseas markets and diversify revenue sources.

Promoter confidence remains strong, with promoter and promoter group holding at 56.08% as of December 31, 2025. The company has maintained a shareholder-friendly approach, declaring interim dividends of 2.5% of paid-up equity share capital in FY 2022-23 and FY 2024-25.

Technical Analysis and Valuation

According to the research report, the stock trades at a modest valuation with a trailing P/E ratio of 13x and P/B ratio of 3.12. The technical analysis identifies ₹7.81-₹8.00 as a strong support zone, with potential targets at ₹9.40 and ₹10.00 upon breakout above ₹8.89.

The research report positions Viram Suvarn Limited as well-placed for long-term expansion, supported by improving financial performance, additional capital through the rights issue, and continued promoter backing in the growing gold and silver jewellery market.

Viram Suvarn Limited has announced that its board of directors will convene on January 17, 2026, to review and approve the company's unaudited financial results for the third quarter of fiscal year 2026. The meeting notification was communicated to BSE Limited on January 12, 2026, in accordance with regulatory requirements.

Meeting Agenda and Purpose

The board meeting has been scheduled primarily to consider and approve the unaudited financial results for the quarter ended December 31, 2025. The company has structured its meeting agenda as follows:

Regulatory Compliance and Trading Window

In compliance with SEBI (Prohibition of Insider Trading) Regulations, 2015, and the company's internal code of conduct, Viram Suvarn Limited has implemented a trading window closure. This restriction affects all directors, officers, and designated persons of the company, preventing them from trading in the company's securities.

The trading window closure became effective immediately upon the announcement and will remain in place until 48 hours after the conclusion of the board meeting. This measure ensures compliance with insider trading regulations during the period when material financial information is being reviewed and approved.

Company Background

Viram Suvarn Limited, formerly operating as Veeram Securities Limited, is listed on BSE Limited with script code 540252. The company is incorporated under the Companies Act with CIN L46498GJ2011PLC064964 and maintains its registered office in Ahmedabad, Gujarat.

Communication and Documentation

The formal notification was signed by Managing Director Mahendra Ramniklal Shah (DIN: 03144827) and submitted to BSE Limited's Listing & Corporate Relations Department. The communication follows the prescribed format under Regulation 29(1)(a) of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, ensuring proper disclosure to stakeholders and market participants.