Shubhlaxmi Jewel Art Limited Approves Management Changes, Adopts Financial Results, and Finalizes Shareholder Status Updates
Shubhlaxmi Jewel Art Limited successfully held its Board Meeting on May 30, 2026. During the meeting, the Board approved the adoption of the audited financial statements for the year ended March 31, 2026, alongside the corresponding Audit Report.The Board also approved the re-appointment of Mr. Narendrasinh J Chauhan as Chairman and Managing Director. This reappointment is effective from May 30, 2026, with an initial remuneration of Rs. 70 Lakhs per annum, with the terms of appointment effective from June 1, 2026, subject to general meeting approval.
Financial and Statutory Approvals
The company's Board approved and adopted the audited financial statements for the year ended March 31, 2026.The Board also approved the following appointments for the financial year 2026-27:
- Secretarial Auditor: M/s. Parth Nair and Associates, Company Secretaries.
- Internal Auditor: M/s. A R Parmar & Co, Chartered Accountants.
Additionally, the Board approved Related Party Transactions (RPT) to be entered into with M/s Laxmi Gold Gems Private Limited for the Sale, Purchase & Labour Charges of goods and materials, limited to not exceeding Rs. 15 Crore per annum for the financial year 2026-27.
Shareholding Structure Updates
The Board also approved the reclassification of the status of Mr. Jitendrakumar J Chauhan and Mrs. Kajal Jitendrakumar Chauhan. Their status is changing from Promoter Group Shareholders to Public Shareholders.Financial Performance Highlights
The company released its audited financial results for the half-year and the full year ended March 31, 2026.The Balance Sheet details the company's financial position as of March 31, 2026, and March 31, 2025.
| Particulars | As at 31.03.2026 (Rs. Lakhs) | As at 31.03.2025 (Rs. Lakhs) |
|---|---|---|
| Share Capital | 1,060.40 | 1,060.40 |
| Reserves & Surplus | 1,303.19 | 1,197.02 |
| Sub-total - Shareholders' funds | 2,363.59 | 2,257.42 |
| Long-term borrowings | 156.70 | 256.40 |
| Current Liabilities (Total) | 4,714.89 | 3,635.02 |
| TOTAL - EQUITY AND LIABILITIES | 5,86.65 | 4,157.94 |
| TOTAL ASSETS | 5,256.65 | 4,167.94 |
The Cash Flow Statement for the year ended March 31, 2026, showed several key movements:
| Activity | Amount (Rs.) |
|---|---|
| Net Profit Before Tax And Extraordinary Items | 151.19 |
| Operating Profit Before Working Capital Changes | 26,447 |
| Net Cash From Operating Activities | (Details not fully specified in summary) |
| Net Cash Used in Investing Activities | (21) |
| Net Increase in Cash and Cash Equivalents | 9.89 |
| Cash and Cash Equivalents as at end of the year | 7.06 |
Audit Report and Qualifications
The company received an Independent Auditor's Report, which noted a Qualified Opinion on the half-yearly and year-to-date financial results.The basis for the qualified opinion was the auditors' inability to physically verify the inventory quantity and valuation, which aggregates to Rs. 4,806.18 lakhs. The auditors solely relied on the information and explanations provided by the company management regarding inventories.
The auditor also highlighted several areas requiring attention:
1. A personal creditor of the Managing Director filed a suit for a recovery of Rs. 535.00 lacs, which also joined the Company as a party.
2. Balances for trade receivables, advances from customers, trade payables, and loans and advances are subject to confirmations from the respective parties.
3. Certain unsecured loans taken by the Company are subject to compliance with section 73 of the Companies Act, 2013.
Large Corporate Entity Status
Shubhlaxmi Jewel Art Limited provided the following data to determine its status on the list of large corporate entities:| Particulars | Amount (in Crores) |
|---|---|
| Outstanding long-term borrowings at the start of the Financial Year | 2.56 |
| Outstanding long-term borrowings at the end of the Financial Year | 757 |
| Net Worth of the Company at the end of the Financial year | 23.64 |
SHUBHLAXMI Stock Price Movement
On Friday, Shubhlaxmi Jewel Art Limited shares settled flat at ₹19.95, marking no change for the session. The stock closed exactly where it started, reflecting little movement despite a traded volume of 1000 shares.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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