Pursuant to Regulation 30 and Regulation 33 of the Listing Regulations, the Board at its meeting held today i.e. Wednesday, February 11, 2026, through video Conferencing, inter alia, considered ....
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On the reaction day the stock moved 4.3 pts less than Nifty Microcap 250 and 4.9 pts less 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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The Board of Deep Diamond India Limited approved unaudited standalone and consolidated financial results for Q3 FY26 on February 11, 2026. Standalone revenue from operations was just Rs. 50 lakhs (down sharply from Rs. 400 lakhs in Q3 FY25 and Rs. 335 lakhs in Q2 FY26), with the jewellery segment reporting zero revenue. Profit after tax stood at Rs. 319.76 lakhs, but almost all of the Rs. 371.41 lakhs profit before tax came from 'Other Income' rather than core operations. The auditor flagged an Emphasis of Matter noting that Rs. 39.98 crore raised via a Rights Issue (intended for the Oasis Ceramics acquisition) was used for different purposes, approved retrospectively by shareholders in an EOGM on January 22, 2026. Additionally, the company failed to pay the balance Rs. 30 crore for the Oasis Ceramics acquisition by the NCLT deadline of September 24, 2025, leading the Resolution Professional to invoke a bank guarantee and recover Rs. 3.21 crore in November 2025.
Negative signals for shareholders — core business revenue has collapsed, profits are propped up by non-operational other income, and there are serious governance red flags around misuse of rights issue proceeds and unresolved NCLT-related liabilities that could lead to further financial exposure.