Enclosed is the financial results for the quarter ended 30-June-2025.
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Sovereign Diamonds reported Q1 FY26 total income of ₹817.81 lakhs, up about 46% year-on-year from ₹568.20 lakhs in Q1 FY25 and roughly doubling sequentially from ₹435.67 lakhs in Q4 FY25. However, the company swung to a deep net loss of ₹485.28 lakhs versus a small loss of ₹6.45 lakhs in Q1 FY25 and ₹12.58 lakhs in Q4 FY25, translating to a loss per share of ₹8.38. The sharp deterioration was driven by cost of materials consumed ballooning to ₹1,119.66 lakhs — well above net sales of ₹780.44 lakhs — indicating heavy raw material/inventory build-up. Total expenses surged to ₹1,303.34 lakhs, nearly 2.3x the revenue base. The statutory auditor (J.D. Zatakia & Co.) issued an unmodified limited review opinion with no qualifications, qualifications or emphasis-of-matter language.
Despite strong top-line growth, the steep loss signals serious margin pressure and working-capital strain, which is negative for shareholders and likely to weigh on the stock price in the short term until the company demonstrates it can convert higher raw material purchases into profitable sales.