Financial Result March 31, 2025
Awaiting price reaction for this filing.
Sagar Diamonds reported audited results for FY25 with revenue from operations effectively nil, as the company's business remains halted due to restrictions imposed by regulators. Total income for the year stood at Rs. 86.94 lakh (mostly other income/interest), down from Rs. 107.55 lakh in FY24. The company posted a loss after tax of Rs. 177.77 lakh for FY25, significantly better than the Rs. 7,635.74 lakh loss in FY24 (which included a one-time Rs. 7,120.23 lakh write-off on the halted business). Cash and cash equivalents rose to Rs. 1,874.76 lakh from Rs. 1,808.50 lakh, while trade payables jumped sharply to Rs. 400.16 lakh from Rs. 102.32 lakh. The statutory auditor gave an unmodified (clean) opinion but included an Emphasis of Matter paragraph highlighting that operations are halted pending regulatory consent to restart.
The company continues to be non-operational with no revenue from its core diamond business and is bleeding cash through expenses. While losses narrowed sharply from the prior year, the company remains dependent on other income (interest on cash reserves) to cover costs. Until regulatory clearance is received to resume operations, shareholders should expect continued losses and a non-performing stock.