Annual Report for the FY 2024-25
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Kenvi Jewels Limited (BSE: 540953) has filed its Annual Report for FY 2024-25 along with the 12th AGM notice scheduled for September 29, 2025. Total income rose 33% year-on-year to Rs. 161.95 crore (from Rs. 121.42 crore in FY24). Net profit after tax increased to Rs. 75.43 lakh from Rs. 66.11 lakh, with EPS of Rs. 0.06. The Board has not recommended any dividend. The company changed its statutory auditor mid-year — M/s Rajesh J. Shah & Associates served till November 16, 2024, replaced by M/s AKGVG & Associates from December 11, 2024. A new auditor, M/s Shah Karia & Associates, is proposed for a 5-year term starting this AGM. The auditor's report and secretarial audit report are clean, with no qualifications.
Strong revenue growth and modest PAT improvement are positives, but PAT growth (~14%) lagged revenue growth, indicating margin pressure. Shareholders should note the mid-year auditor change and the proposal to appoint yet another auditor, which may warrant attention to governance continuity. No dividend means income-seeking investors get no payout this year.