Outcome of Board meeting dated 09-08-2025
Awaiting price reaction for this filing.
The Board of Narbada Gems and Jewellery met on 9 August 2025 and approved the unaudited financial results for Q1 FY26 (quarter ended 30 June 2025). Revenue from operations came in at Rs 2,073.96 lakhs, down about 11.4% year-on-year from Rs 2,340.36 lakhs in Q1 FY25. Net profit stood at Rs 233.22 lakhs (EPS Rs 1.10), slightly lower than Rs 255.75 lakhs a year ago, but sharply higher than Rs 78.25 lakhs in the preceding quarter (Q4 FY25). The Board re-appointed Mr. Sunil Garg as Non-Executive Independent Director and re-appointed statutory auditor M/s Anant Rao & Mallik for a second 5-year term. It also appointed Mr. Dileep Kumar Jain, a former IFCI Executive Director with 40+ years of banking and finance experience, as an additional Independent Director for 5 years. The Board noted NCLT orders dated 13 June and 2 July 2025 directing a shareholder meeting on 21 August 2025 to vote on the scheme of arrangement between Narbada Gems (transferor) and Uday Jewellery Industries (transferee).
Marginal YoY dip in revenue and profit is modest and unlikely to move the stock sharply, though sequential profit recovery from Q4 FY25 is a positive. The more material event is the impending shareholder vote on 21 August 2025 on the Uday Jewellery scheme of arrangement, which could act as a near-term price catalyst. Strengthened board with a senior banking/finance professional adds governance depth.