Sovereign Diamonds Ltd

AGM Details

• Date/time: 20 August 2026 at 11:00 AM via VC/OAVM.
• Voting rights cut-off: 13 August 2026.
• Shareholders on record date: 7,762.
• Attendees via video conferencing: 28.

Resolutions and outcomes

• Resolution 1 (Ordinary): Adoption of audited financial statements and reports; passed with 29 against.
• Resolution 2 (Ordinary): Re-appointment of director by rotation; passed with 29 against.
• Resolution 3 (Special): Re-appointment of Ajay Gehani as CMD; passed with 29 against.
• Resolution 4 (Special): Re-appointment of Arundhati Mali as WTD and CFO; passed with 29 against.

Director changes

• Sumer Gehani re-appointed as Director (retiring by rotation).
• Ajay Gehani re-appointed as Chairman and Managing Director.
• Arundhati Mali re-appointed as Whole-Time Director and CFO.

AGM details

• Date: 20 August 2026; Time: 11:00 a.m.; Mode: VC/OAVM.

Ordinary business

• Adoption of Audited Financial Statements and Reports for FY ended 31 March 2026.
• Re-appointment of Mr. Sumer Gehani as Director by rotation.

Special business

• Re-appointment of Mr. Ajay Gehani as Chairman and Managing Director.
• Re-appointment of Mrs. Arundhati Mali as Whole-Time Director and CFO.

Voting status

• Adoption of financial statements: voting outcome not disclosed.
• Re-appointment of Sumer Gehani as Director by rotation: voting outcome not disclosed.
• Re-appointment of Ajay Gehani as Chairman and Managing Director: voting outcome not disclosed.
• Re-appointment of Arundhati Mali as WTD and CFO: voting outcome not disclosed.

Unaudited quarterly results

• Income from operations: 130.30 Lakhs; total income: 149.25 Lakhs, quarter ended 30 Jun 2026.
• Total expenses: 209.48 Lakhs; profit before tax: (60.23) Lakhs, quarter ended 30 Jun 2026.
• Net profit after tax: (57.08) Lakhs; total comprehensive income: 157.97 Lakhs, quarter ended 30 Jun 2026.
• Single segment: Gold and Diamond studded Jewellery.
• Auditor's review: unmodified opinion.

Dematerialisation under Reg 74(5)

• Purpose: Confirmation under Reg 74(5) for dematerialisation of Sovereign Diamonds securities in Q2 FY2026.
• Securities received for dematerialisation were confirmed to depositories; listing on exchanges of earlier issued securities.
• Certificates were mutilated and cancelled; depositories substituted in register within prescribed timelines.
• Date of certification: 01 July 2026.

Financial results

• Audited standalone financial results approved for quarter and year ended 31 March 2026.
• Cash flow statement and balance sheet approved for year ended 31 March 2026.
• Statutory auditors issued an unmodified audit opinion.

Board decisions

• Re-appointed Ajay Gehani as Chairman and Managing Director from 1 July 2026 for three years.
• Re-appointed Arundhati Mali as Whole Time Director and Chief Financial Officer from 1 July 2026 for three years.
• Re-appointed P. C. Shah & Co. as Secretarial Auditors for 2026-27.
• Re-appointed Shrey Pandey & Associates as Internal Auditors for 2026-27.

Governance changes

• Ajay Gehani is the promoter and father of non-executive director Sumer Gehani.
• Arundhati Mali is not related to any director.
• No SEBI debarment was reported for the re-appointed directors.

Financial Performance 📊

• Q3 FY2026 revenue from operations rose 145% YoY to Rs 283.48 lakh from Rs 115.4 lakh.
• Q3 FY2026 total income increased 155% YoY to Rs 312.75 lakh.
• Nine months ended Dec 2025 revenue from operations declined 3.4% YoY to Rs 1154.96 lakh.
• Nine months total income decreased 4.4% YoY to Rs 1225.11 lakh.
• Nine months EBITDA was Rs 17.72 lakh, up from Rs 14.96 lakh last year.
• Q3 FY2026 net profit was Rs 40.17 lakh, up from Rs 10.15 lakh in Q3 FY2025.
• Nine months net loss widened to Rs 434.83 lakh from Rs 13.84 lakh profit last year.
• Q3 FY2026 basic and diluted EPS stood at Rs 0.92, up from Rs 0.18 YoY.

Cost & Expenses

• Nine months cost of materials consumed dropped 1.3% YoY to Rs 882.42 lakh.
• Nine months employee benefits expense declined 31.6% YoY to Rs 110.31 lakh.
• Nine months finance costs fell to Rs 60.14 lakh from Rs 93.32 lakh YoY.

Corporate & Compliance

• No exceptional items reported in the period.
• Statutory auditors issued an unmodified opinion on the financial results.
• Board approved unaudited results on 6th February 2026.
• Auditor’s review confirmed compliance with Ind AS 34 and SEBI Listing Regulations.

Business Model & Segments

• Company operates in a single segment: Gold and Diamond studded Jewellery.