Financial Results (Standalone and Consolidated) for the quarter and financial year ended March 31, 2026
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Mini Diamonds India reported standalone revenue of Rs 5,678.5 million for FY26, up 40% from Rs 4,055.7 million in FY25. However, profitability declined sharply - standalone net profit fell 37% to Rs 205.3 lakhs from Rs 326.5 lakhs. On consolidated basis, the company posted a net loss of Rs 617.7 lakhs compared to a profit of Rs 284.0 lakhs in the prior year. The company incorporated two subsidiaries (Namra Jewels and Pyramid Gold) in mid-2024, which contributed losses. Operating cash flow remained negative at Rs 212.2 lakhs on standalone basis due to a massive 132% increase in inventories (from Rs 373.1 million to Rs 866.4 million) and rising trade receivables. The auditors issued an unmodified opinion but flagged that the company is irregular in payment of direct taxes and TDS.
Revenue growth of 40% was offset by rising costs and working capital requirements, resulting in profit decline and negative cash flow. The company needs to improve operational efficiency and manage inventory buildup to restore profitability.