Enclosed is the un-audited financial results for the quarter ended 30-June-2025.
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Sovereign Diamonds Ltd, a Mumbai-based 18K fine jewellery manufacturer, reported Q1 FY26 results (quarter ended 30 June 2025). Net sales rose to ₹780.44 lakhs from ₹533.98 lakhs in the same quarter last year, a growth of about 46%. However, the cost of materials consumed nearly tripled to ₹1,119.66 lakhs, dragging the company to a loss before tax of ₹485.53 lakhs against a small ₹2.76 lakh loss a year ago. Net loss for the quarter stood at ₹485.28 lakhs (basic EPS of negative ₹8.38) versus ₹6.45 lakhs in Q1 FY25. Statutory auditor J.D. Zatakia & Co. issued an unmodified limited review report, and no exceptional items were recorded.
Strong revenue growth was completely offset by a sharp jump in raw material costs, pushing the company into a much deeper loss, which is likely to be viewed negatively by shareholders and weigh on the stock in the near term.