Dear Sir/Madam, Enclosed herewith is outcome and results as declared in board meeting held today November 14, 2025.
Awaiting price reaction for this filing.
Goenka Diamond & Jewels Limited reported Q2 FY26 standalone revenue from operations of Rs. 39.20 lakhs (vs Rs. 19.10 lakhs in Q2 FY25) but posted a loss after tax of Rs. 40.31 lakhs, taking H1 FY26 loss to Rs. 87.39 lakhs. The company is currently under Corporate Insolvency Resolution Process (CIRP) since December 2022, with the Board of Directors suspended and an Interim Resolution Professional (IRP) managing operations. Secured financial creditors have filed claims of Rs. 49,408.27 lakhs against Rs. 17,730.38 lakhs appearing in the books — a Rs. 31,677.89 lakhs differential yet to be accounted for. Bank loans have been classified as NPA, with SARFAESI and recovery proceedings underway and dues partly assigned to an Asset Reconstruction Company. The auditors have flagged a 'Material Uncertainty Related to Going Concern' along with multiple qualifications on trade receivables (Rs. 69,768.84 lakhs with no expected credit loss provision), overdue trade payables, and non-compliance with Ind-AS 21 on foreign currency translation.
This is a deeply distressed company under insolvency — existing shareholders face significant dilution or wipeout risk under any resolution plan, and the stock is highly speculative. The stock is likely to remain volatile and illiquid until the CIRP concludes and a resolution plan is approved by NCLT.