Financial Results (Standalone and Consolidated) for the quarter and financial year ended March 31, 2026
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Mini Diamonds India Ltd reported standalone revenue of Rs. 56,785 Lakhs for FY2026, up ~40% from Rs. 40,557 Lakhs in FY2025, driven by a sharp rise in diamond jewellery sales and inventory buildup. However, profitability deteriorated significantly — standalone net profit turned negative at Rs. (514.61) Lakhs vs Rs. 326.49 Lakhs profit in FY2025, as raw material and purchase costs surged to Rs. 58,870 Lakhs. Consolidated revenue was Rs. 56,722 Lakhs with a net loss of Rs. (617.74) Lakhs. The company also flagged irregular direct tax and TDS payments in the auditor's report. Cash flow from operations was negative at Rs. (212.16) Lakhs standalone and Rs. (188.04) Lakhs consolidated, reflecting working capital stress — trade receivables rose Rs. 4,346 Lakhs and inventories surged Rs. 4,933 Lakhs year-on-year. The auditors issued an unmodified (clean) opinion. Two new subsidiaries (Namra Jewels and Pyramid Gold) were consolidated for the first time, contributing a combined loss of ~Rs. 54 Lakhs.
The stock shows revenue growth but is operationally loss-making with negative operating cash flow and tax compliance issues, indicating stress despite higher topline. Shareholders should monitor the bonus share issuance proposal and working capital normalisation.