Audited Financial Statements (Standalone and Consolidated) along with the Audit Report for the Quarter and Financial Year under Integrated Filing (Financial) for the March quarter and year ....
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Sunraj Diamond Exports reported a turnaround at the bottom line for FY25 with a standalone net profit of Rs 8.70 lakhs versus a loss of Rs 72.92 lakhs in FY24; consolidated net profit stood at Rs 5.98 lakhs. However, revenue from operations fell sharply to Rs 184.74 lakhs from Rs 254.36 lakhs in FY24, a decline of about 27%. Q4 standalone revenue nearly doubled to Rs 92.43 lakhs year-on-year. The auditor issued a qualified opinion on both standalone and consolidated results because the company has not provisioned for employee retirement benefits as required under Ind AS 19 (no actuarial valuation done). Despite reporting a profit, operating cash flow stayed negative at around Rs (37) lakhs, borrowings rose to Rs 1,675 lakhs against a thin net worth of about Rs 169 lakhs, and over Rs 876 lakhs of trade receivables are more than 3 years old, indicating stretched working capital and very high leverage.
The swing to profit is encouraging, but the qualified audit opinion, negative operating cash flow, weak net worth, and very high debt-to-equity ratio raise red flags on financial health. Shareholders should watch for resolution of the retirement-benefit qualification, improvement in cash generation, and recovery of old receivables, as these will determine whether the profitability turnaround is sustainable.