43rd Annual Report of Vega Jewellers Limited (Formerly, PH Trading Limited)
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Vega Jewellers Ltd has filed the notice for its 43rd Annual General Meeting, scheduled for September 19, 2025 at 12:00 PM via video conferencing, along with the Annual Report for FY 2024-25. The AGM agenda includes adoption of audited financial statements, re-appointment of two non-executive directors (Mr. Rama Mohan Rao Bandlamudi and Mr. Chandrakanth Chereddi), and appointment of M/s. Sagar & Associates as statutory auditors for a 5-year term at Rs. 10 lakh per year. Shareholders will also be asked to approve raising the company's borrowing limit from Rs. 500 Crores to Rs. 1,000 Crores, and to enable related party transactions with multiple group LLPs (J Hills, KKD, ELR) and M/s Vega Jewellers. Additionally, the company seeks approval to increase its capital contribution and profit-sharing stake in Vega Jewellers J Hills LLP from 50.99% to up to 61%, with an additional investment of Rs. 1.5 Crores in the JV (which had a turnover of ~Rs. 375.5 Crores in FY24). E-voting will run from September 16 to September 18, 2025, with the cut-off date set as September 12, 2025.
The proposals signal an aggressive expansion push — the company wants to double its borrowing capacity to Rs. 1,000 Crores and formalize significant related-party transactions across its jewellery retail LLPs, indicating scaling operations. The increased stake in Vega Jewellers J Hills LLP suggests consolidation of the retail/jewellery business. For shareholders, these are housekeeping approvals to enable growth, though the scale of related-party transactions warrants review of arm's-length terms.