Receipt of Donestic Order for Lab Grown Polished Diamonds Amounting to Rs. 12 Crores
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Mini Diamonds India Ltd has received a domestic purchase order worth Rs. 12 crore from AB Diamonds India Private Limited, a Mumbai-based client, for the supply of lab-grown polished diamonds. This is a new customer addition in the company's domestic segment. The order needs to be fulfilled within 4 months, with payment to be received within 150 days of order completion. Management views this as a credibility boost for its domestic lab-grown diamond business and expects repeat engagement over time. The order is not a related party transaction and the promoters have no interest in the awarding entity.
This Rs. 12 crore domestic order adds visibility to near-term revenue and signals MDIL's growing presence in India's lab-grown diamond market, though it does not constitute a major contract win by itself. Shareholders should note the relatively long payment cycle (150 days post-completion) and short execution window (4 months).