AJC Jewel Manufacturers approves acquisition of 80% stake in Sharjah unit
The jewellery maker has approved acquiring an 80% stake in its Sharjah, UAE entity, which reported revenue of ₹127.95 crore in CY2025 and ₹72.46 crore in the first half of 2026.
What happened
Kenya ordered Tata Chemicals’ ouster from century-old soda-ash mining rights, creating a potential raw-material supply disruption for the Tata consumer
Key facts
- Tata Chemicals shares declined 2% to ₹628.05
- AJC Jewel Manufacturers approved acquisition of an 80% stake in its Sharjah UAE entity
- UAE entity revenue was ₹127.95 crore in CY2025
- UAE entity revenue was ₹72.46 crore in January-June 2026
Why this matters
Buying an 80% stake in the Sharjah entity gives AJC greater control over cross-border manufacturing and provides a platform for further Gulf-region expansion.
What to watch
- Acquisition completion date and the consideration paid for the 80% stake.
- Whether the remaining 20% minority stake has put/call arrangements or a path to full ownership.
- Sharjah unit revenue trajectory after the reported ₹127.95 crore in CY2025 and ₹72.46 crore in H1 2026.
- Changes in consolidated receivables, inventory days, borrowing and operating cash flow.
- New GCC customer wins, export-order announcements or capacity additions in Sharjah.
- Gold-price volatility, AED/INR movement and UAE jewellery-demand conditions.
- Finalize transaction terms, valuation, funding structure and regulatory approvals in the UAE.
- Integrate Sharjah procurement, inventory controls, ERP reporting and customer-order allocation with the parent company.
- Use the Sharjah base to deepen GCC wholesale relationships and target higher export volumes.
- Review bullion hedging, AED/INR currency management and working-capital financing after consolidation.
- Disclose expected impact on consolidated revenue, margins, debt and related-party transactions.