MOTISONS - Motisons Jewel
📢 Recent Corporate Announcements
Motisons Jewellers Limited has successfully passed two critical resolutions via postal ballot with near-unanimous shareholder support. The company received approval to raise funds through the issuance of equity shares or other eligible securities in one or more tranches. Additionally, shareholders approved an increase in the authorized share capital and the subsequent amendment of the Memorandum of Association. Both resolutions were passed with a 99.9991% majority, indicating strong investor confidence in the management's growth plans.
- Special Resolution passed to raise funds via equity or other eligible securities in one or more tranches.
- Ordinary Resolution approved to increase the authorized share capital of the company.
- Both resolutions received 649,785,096 votes in favor, representing 99.9991% of valid votes cast.
- Only 5,685 votes (0.0009%) were cast against the proposals, showing minimal dissent.
- The voting process was conducted through remote e-voting from March 27, 2026, to April 25, 2026.
Motisons Jewellers Limited has received near-unanimous shareholder approval for two critical resolutions via postal ballot. The first resolution authorizes the company to raise funds through the issuance of equity shares or other eligible securities in one or more tranches. The second resolution approves an increase in the company's authorized share capital and a corresponding amendment to the Memorandum of Association. Both proposals passed with 99.9991% of the votes in favor, indicating strong shareholder support for the company's capital expansion plans.
- Shareholders approved the raising of funds via equity or other securities with 64,97,85,096 votes in favor.
- The resolution to increase authorized share capital passed with a 99.9991% majority.
- Only 5,685 votes (0.0009%) were cast against the proposed resolutions.
- The voting process was conducted through remote e-voting between March 27, 2026, and April 25, 2026.
- The approval provides the company with the necessary legal framework to proceed with capital-intensive growth or expansion.
Motisons Jewellers Limited has completed its postal ballot process seeking shareholder approval for two major resolutions. The first is a special resolution to raise funds through the issuance of equity shares or other eligible securities in one or more tranches. The second is an ordinary resolution to increase the company's authorized share capital and amend its Memorandum of Association. The e-voting period concluded on April 25, 2026, and the final results are pending the scrutinizer's report.
- Proposed special resolution for fundraise via equity or other eligible securities in one or more tranches.
- Proposed ordinary resolution to increase authorized share capital and amend the Memorandum of Association.
- Remote e-voting period concluded on April 25, 2026, following a month-long window starting March 27, 2026.
- Cut-off date for shareholder eligibility was established as March 20, 2026.
- Final voting results to be declared following the submission of the report by Scrutinizer Mr. Akshit Kumar Jangid.
Motisons Jewellers Limited has entered into a Memorandum of Understanding (MoU) with Moti Developers for the development of a new jewellery showroom in Udaipur, Rajasthan. Moti Developers, a partnership firm where several company promoters are partners, will handle the construction and development. Upon completion, the showroom will be leased to Motisons Jewellers to support its retail footprint expansion. The company has confirmed that this related party transaction is being conducted at arm's length and in the ordinary course of business.
- MoU signed with Moti Developers for a new showroom in Udaipur, Rajasthan.
- Counterparty involves promoters Sandeep Chhabra and Laksh Chhabra as partners.
- Showroom will be leased to the company upon completion of construction.
- Transaction is confirmed to be at arm's length and in the ordinary course of business.
- Expansion is aimed at supporting the company's long-term retail growth strategy.
Motisons Jewellers has approved the redemption of 50,00,000 unlisted 2.5% Non-Convertible Redeemable Preference Shares held by Gajraj Tradecom Private Limited. The redemption, valued at Rs 5 crore based on a face value of Rs 10 per share, will be funded entirely out of the company's profits. This move will reduce the company's preference share capital by half, leaving 50,00,000 shares outstanding. Utilizing profits for redemption indicates a healthy cash position and reduces future dividend obligations.
- Redemption of 50,00,000 unlisted 2.5% Non-Convertible Redeemable Preference Shares approved.
- Total redemption value amounts to Rs 5 crore at a face value of Rs 10 per share.
- The transaction is being funded through the company's accumulated profits.
- Post-redemption, the issued preference share capital will be reduced to 50,00,000 shares.
Motisons Jewellers Limited has submitted its quarterly compliance certificate under Regulation 74(5) of SEBI (Depositories and Participants) Regulations, 2018. The certificate, issued by Registrar MUFG Intime India Private Limited, confirms that all dematerialization requests for the quarter ended March 31, 2026, were processed within the prescribed timelines. It verifies that security certificates were mutilated and cancelled after verification, and the name of the depositories was substituted in the register of members. This is a standard regulatory filing ensuring the integrity of the company's shareholding records.
- Compliance certificate issued for the quarter ended March 31, 2026.
- RTA MUFG Intime India confirmed all dematerialization requests were accepted or rejected within timelines.
- Physical security certificates were mutilated and cancelled after due verification.
- Securities involved in the process are already listed on the BSE and NSE.
Motisons Jewellers Limited has announced the cancellation of its adjourned Board Meeting, which was originally scheduled to discuss the redemption of 50,00,000 unlisted preference shares. The meeting could not be convened due to a lack of the required quorum. These shares are 2.5% Non-Convertible Redeemable Preference Shares. The company has stated that a revised date for the meeting to approve this redemption will be communicated in due course.
- Adjourned Board Meeting cancelled due to lack of requisite quorum on April 9, 2026.
- Meeting was intended to approve the redemption of 50,00,000 unlisted preference shares.
- The preference shares carry a 2.5% coupon rate and are non-convertible.
- A revised date for the board meeting will be announced by the company later.
Motisons Jewellers Limited has informed the stock exchanges that its Board of Directors meeting scheduled for April 02, 2026, could not be convened. The adjournment is attributed to the absence of the requisite quorum required to conduct the proceedings. This meeting was previously notified through intimations dated March 23 and March 27, 2026. Investors should note that the agenda items remain pending until the meeting is rescheduled.
- Board meeting scheduled for April 02, 2026, has been officially adjourned.
- The meeting failed to take place due to a lack of requisite quorum among directors.
- Prior notifications for this specific meeting were issued on March 23 and March 27, 2026.
- Company is expected to announce a rescheduled date for the board meeting in due course.
Motisons Jewellers Limited has announced the closure of its trading window for all designated persons and their immediate relatives starting April 1, 2026. This move is a mandatory compliance step under SEBI (Prohibition of Insider Trading) Regulations, 2015, ahead of the company's financial reporting. The window will remain closed until 48 hours after the declaration of the audited financial results for the quarter and year ending March 31, 2026. This is a standard procedure for listed companies to prevent insider trading during the finalization of financial statements.
- Trading window closure commences on Wednesday, April 01, 2026.
- Applies to all Designated Persons and their immediate relatives as per SEBI regulations.
- Window to remain closed until 48 hours after the announcement of Q4 and FY26 audited results.
- Compliance filing submitted to both BSE and NSE on March 28, 2026.
Motisons Jewellers Limited has issued a postal ballot notice seeking shareholder approval to raise capital up to ₹350 crore. The funds are proposed to be raised in one or more tranches through various instruments including Equity Shares, QIPs, ADRs, GDRs, or convertible debentures. The remote e-voting period for this special resolution is scheduled from March 27, 2026, to April 25, 2026. This capital infusion is intended to strengthen the company's financial position and support future growth requirements.
- Proposed fundraise of up to ₹350 crore through issuance of equity or eligible securities.
- Multiple issuance modes allowed including QIP, private placement, rights issue, and public issue.
- Remote e-voting period set from March 27, 2026, to April 25, 2026.
- Cut-off date for determining shareholder eligibility for voting is March 20, 2026.
- The resolution, if passed, will be deemed effective as of April 25, 2026.
Motisons Jewellers Limited has notified the exchanges regarding the closure of its trading window for designated persons starting February 27, 2026. The window will remain closed until 48 hours after the conclusion of the Board Meeting scheduled for March 6, 2026. This action is in compliance with SEBI (Prohibition of Insider Trading) Regulations, 2015. Investors should note that this is a standard procedure ahead of board meetings to prevent insider trading.
- Trading window closure effective from Friday, February 27, 2026
- Window to remain closed until 48 hours after the Board Meeting on March 6, 2026
- Compliance with SEBI (Prohibition of Insider Trading) Regulations, 2015
- Restriction applies to all Designated Persons and their immediate relatives
Motisons Jewellers has approved the allotment of 54,00,000 equity shares to Nexpact Limited following the conversion of 5,40,000 warrants. The company received the balance 75% payment amounting to Rs 6.88 crore, completing the conversion at an adjusted price of Rs 17 per share post-stock split. This move increases the company's total paid-up capital to Rs 100.17 crore. Approximately 82.70 lakh warrants still remain outstanding for future conversion within the 18-month window.
- Allotment of 54,00,000 equity shares of Re 1 face value to Nexpact Limited (Non-Promoter).
- Receipt of Rs 6,88,50,000 as the final 75% payment for the warrant conversion.
- Conversion price adjusted to Rs 17 per share following a 1:10 stock split in November 2024.
- Total paid-up capital increased to 1,00,17,60,000 equity shares of Re 1 each.
- 82,70,000 warrants remain outstanding for conversion into equity shares.
Motisons Jewellers Limited has allotted 79,00,000 equity shares to Eminence Global Fund PCC following the conversion of 7,90,000 warrants. The company received ₹10.07 crore, representing the final 75% payment required for the conversion at an adjusted price of ₹17 per share. This adjustment accounts for the 1:10 stock split conducted in November 2024. Following this allotment, the company's total paid-up capital has increased to ₹99.64 crore.
- Allotment of 79,00,000 equity shares to Eminence Global Fund PCC upon warrant conversion.
- Receipt of ₹10.07 crore as the 75% balance payment for the conversion process.
- Conversion price adjusted to ₹17 per share post-split from the original ₹170 per warrant.
- Total paid-up capital increased to ₹99.64 crore across 99.64 crore shares of Re 1 each.
- Approximately 88.10 lakh warrants remain outstanding for conversion within the 18-month period.
Motisons Jewellers Limited has submitted its statement of deviation for the quarter ended December 31, 2025, confirming that funds raised via a ₹170 crore preferential issue are being used as intended. So far, the company has utilized ₹18 crore for loan repayments and ₹29.46 crore for working capital requirements. Significant portions of the allocated funds, including ₹34.50 crore for general corporate purposes, remain unutilized as of the reporting date. The monitoring agency, CRISIL Ratings Limited, and the company's Audit Committee have reviewed the utilization without any adverse comments.
- Total of ₹170 Crores raised through a preferential issue on October 5, 2024.
- ₹18.00 Crores utilized for repayment of unsecured loans against an allocation of ₹40 Crores.
- ₹29.46 Crores deployed for working capital needs out of a total ₹95 Crores allocation.
- Zero utilization reported for General Corporate Purposes which has an allocation of ₹34.50 Crores.
- CRISIL Ratings Limited confirmed no deviations or variations in the use of proceeds.
Motisons Jewellers reported a robust performance for the quarter ended December 31, 2025, with revenue from operations surging to ₹145.30 crore compared to ₹90.47 crore in the preceding quarter. The company achieved a net profit of ₹15.30 crore for the quarter, bringing the nine-month total profit to ₹32.03 crore. Additionally, the company strengthened its capital base by allotting 40 lakh equity shares following the conversion of warrants, raising ₹5.10 crore. This growth highlights strong festive and wedding season demand during the third quarter.
- Revenue from operations grew 60.6% sequentially to ₹145.30 crore in Q3 FY26.
- Net Profit for the quarter stood at ₹15.30 crore with a Basic EPS of ₹1.55.
- Nine-month total income reached ₹344.08 crore with a cumulative net profit of ₹32.03 crore.
- Successfully allotted 40,00,000 equity shares upon receiving ₹5.10 crore from warrant holders.
- Inventory levels saw a significant adjustment of ₹17.59 crore during the quarter to meet seasonal demand.
Financial Performance
Revenue Growth by Segment
Standalone revenue grew 10.88% YoY in FY25 to INR 462.11 Cr from INR 416.76 Cr. Revenue for H1 FY26 surged to INR 1,075.73 Cr, representing a massive jump compared to the previous full year. Segments include gold, diamond, and kundan jewellery.
Geographic Revenue Split
Primarily concentrated in Jaipur, Rajasthan, where the company operates 4 showrooms. Geographic expansion beyond Jaipur is not detailed in percentage terms.
Profitability Margins
Net Profit Margin (NPM) improved from 7.73% in FY24 to 9.34% in FY25. However, standalone PAT for Q2 FY26 was INR 5.99 Cr on revenue of INR 615.32 Cr, indicating a sharp margin compression to approximately 0.97% for that quarter.
EBITDA Margin
EBITDA margin for FY24 was 15.28%, an expansion of 176 basis points YoY. Standalone EBITDA for Q4 FY24 reached INR 17.97 Cr, up 93.32% YoY, with a margin of 15.36%.
Capital Expenditure
Raised INR 170 Cr through a preferential issue on October 5, 2024, to fund working capital and stock portfolio expansion. INR 5.10 Cr was received from warrant conversion in December 2025.
Credit Rating & Borrowing
Borrowings significantly reduced from INR 111 Cr in March 2024 to INR 55 Cr by September 2025 (a 50.4% reduction). Interest coverage ratio surged from 6.45x to 107.31x in FY25 due to debt reduction post-IPO.
Operational Drivers
Raw Materials
Gold (represents 30% to 50% of the cost of finished products), diamonds, kundan, pearls, silver, platinum, and precious/semi-precious stones.
Import Sources
Not explicitly disclosed; company references industry reports from GJEPC and IBEF for sourcing trends.
Capacity Expansion
Currently operates 4 showrooms in Jaipur. Expansion strategy focuses on increasing the stock portfolio and design variety (over 300,000 designs) rather than physical showroom count in the short term.
Raw Material Costs
Gold costs fluctuate between 30% and 50% of the total product cost. Volatility in bullion prices directly impacts working capital and margins.
Manufacturing Efficiency
Focus on design innovation and recognizing consumer preferences to drive sales velocity across 300,000+ jewellery batches.
Strategic Growth
Expected Growth Rate
14%
Growth Strategy
Growth is driven by debt reduction to increase net profits, expanding the stock portfolio using preferential issue proceeds (INR 170 Cr), and leveraging the IMS system to repeat fast-selling designs. The company focuses on a wide variety of traditional and modern designs to capture diverse customer segments.
Products & Services
Gold jewellery, diamond jewellery, kundan jewellery, silver artifacts, gold and silver coins, utensils, and precious stone-studded jewellery.
Brand Portfolio
Motisons.
New Products/Services
Continuous launch of new designs within its 300,000+ design library; specific new product line revenue contribution % not disclosed.
Market Expansion
Focus on Jaipur eminence with potential for broader Indian market reach; specific timelines for new regions not disclosed.
Market Share & Ranking
Renowned brand in Jaipur; specific national market share ranking not disclosed.
External Factors
Industry Trends
The industry is growing at approximately 14% (3-year sales CAGR for the company). Trends show a shift toward organized retail and design-heavy, hallmarked jewellery.
Competitive Landscape
Competes with both organized national players and local unorganized jewellers in the Rajasthan region.
Competitive Moat
Brand equity in Jaipur, a massive library of 300,000+ designs, and a strong balance sheet with a current ratio of 5.77 and low debt-equity of 0.17 provide a sustainable competitive advantage.
Macro Economic Sensitivity
Highly sensitive to gold prices and USD/INR exchange rates which impact raw material procurement costs.
Consumer Behavior
Shift toward variety and fulfilling specific customer needs for traditional and modern combination designs.
Geopolitical Risks
Fluctuations in international commodity markets and trade relations affecting the gems and jewellery industry.
Regulatory & Governance
Industry Regulations
Subject to meticulous compliance with trade and manufacturing laws, including hallmarking and bullion trade regulations.
Taxation Policy Impact
Effective tax rate approximately 26-28% based on historical profit and loss data.
Legal Contingencies
The company has disclosed the impact of pending litigations on its financial position in Note 33 of the standalone financial statements; specific case values were not provided in the summary.
Risk Analysis
Key Uncertainties
Bullion price volatility (30-50% cost impact), risks of theft/loss in the jewellery line, and compliance risks associated with government regulations.
Geographic Concentration Risk
100% of physical showrooms are located in Jaipur, Rajasthan.
Third Party Dependencies
Dependency on bullion suppliers; specific vendor concentration not disclosed.
Technology Obsolescence Risk
Low risk; company utilizes IMS (Inventory Management System) for digital transformation of stock tracking.
Credit & Counterparty Risk
Trade receivables turnover ratio decreased slightly to 309.92x in FY25, indicating very high quality of receivables and primarily cash-based retail sales.