Enclosed is the un-audited financial results for the quarter and half year ended 30-September-2025
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Sovereign Diamonds Ltd reported a net loss of ₹474.99 lakhs for H1 FY26 (Apr-Sep 2025), sharply worse than a loss of ₹6.49 lakhs in H1 FY25. Total income for H1 FY26 stood at ₹987.17 lakhs, down about 6.3% from ₹1,054.04 lakhs a year ago, while Q2 FY26 alone brought in only ₹169.36 lakhs versus ₹817.81 lakhs in Q1 FY26, showing a steep sequential drop. Q2 FY26 swung to a small profit of ₹10.30 lakhs after the large Q1 loss of ₹485.28 lakhs, with basic EPS of ₹0.18 for the quarter. On the balance sheet, the company fully repaid its current borrowings of ₹889.68 lakhs, leaving near-zero debt, but other equity eroded from ₹1,126.84 lakhs to ₹650.30 lakhs due to accumulated losses. Operating cash flow was strongly positive at ₹938.26 lakhs, lifting cash on hand to ₹108.37 lakhs. The statutory auditor (J.D. Zatakia & Co.) issued a clean, unmodified limited review report with no qualifications.
The sharply wider H1 loss and significant erosion of shareholder equity are negative signals for the stock, even though Q2 showed a small profit turnaround. The debt-free balance sheet and strong operating cash flow provide some comfort, but the steep sequential revenue drop in Q2 and continued losses suggest weak near-term profitability.