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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Deep Diamond India Limited reported Q3 FY26 (quarter ended December 31, 2025) results with revenue from operations collapsing to just ₹50 lakhs (entirely from pharma, jewellery contributed zero), sharply down from ₹400 lakhs a year ago. Total income jumped to ₹421.41 lakhs driven by an unusual spike in 'Other Income' to ₹371.41 lakhs (vs ₹21.74 lakhs in Q3 FY25), pushing standalone profit after tax to ₹319.76 lakhs (vs ₹0.84 lakh). Nine-month standalone PAT grew over thirteen-fold to ₹581.97 lakhs. The auditor (VRSK & Co. LLP) flagged an 'Emphasis of Matter' noting that ₹39.98 crore raised through a rights issue — earmarked for the Oasis Ceramics Pvt Ltd acquisition under the IBC process — was instead deployed in equity investments, working capital and fixed deposits, a deviation only retroactively approved by shareholders in January 2026. The ₹32 crore Oasis Ceramics deal remains unfinished: only ₹2 crore was paid, the September 2025 deadline was missed, a ₹3.21 crore bank guarantee was encashed by the resolution professional in November 2025, and an NCLT extension application is still pending.
The headline PAT surge is essentially non-operating — almost entirely parked-fund income — while the core jewellery segment vanished and pharma revenue declined sharply. Add the rights-issue fund diversion, pending IBC acquisition, and already-encashed bank guarantee, and shareholders face significant governance and execution risks that the numbers alone don't capture.