Q1 FY27 Results: PAT down 38% YoY on weak diamond segment
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On the reaction day the stock moved 3.3 pts more than Nifty Microcap 250 and 4.3 pts more than its Gems Jewellery And Watches peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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Consolidated net sales fell about 11% YoY to Rs 638 crore versus Rs 717 crore. PAT dropped about 38% to roughly Rs 12 crore versus Rs 19.3 crore. Diamond segment revenue declined sharply to Rs 426 crore from Rs 547 crore. Standalone net sales slipped to Rs 546 crore and PAT fell 30% to Rs 11.2 crore. Operating margin compressed to about 3.5% from 4.5% YoY. Board also re-appointed V.L. Tikmani and Associates as internal auditors for FY27.
Weak quarter with a sharp drop in profits and margin compression, driven by weakness in diamonds. Negative for near-term sentiment.