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Sunraj Diamond Exports reported standalone revenue from operations of Rs 67.78 lakhs for Q2 FY26, up sharply from Rs 24.41 lakhs in Q2 FY25, with H1 FY26 revenue at Rs 90.71 lakhs versus Rs 38.92 lakhs in H1 FY25 — a strong top-line rebound. However, standalone net profit fell to Rs 16.45 lakhs in Q2 FY26 (from Rs 28.03 lakhs) and shrank to just Rs 1.50 lakhs in H1 FY26 (from Rs 20.35 lakhs), as the prior year had unusually high other income. On a consolidated basis, the H1 FY26 result swung to a small net loss of Rs 1.14 lakhs from a profit of Rs 20.01 lakhs last year, weighed down by the DMCC subsidiary which reported nil revenue. The auditor (Govind Prasad & Co) issued an unmodified limited review report, and the company separately confirmed there is no modified opinion. The balance sheet remains under stress with negative other equity of Rs (362.60) lakhs standalone and Rs (435.45) lakhs consolidated, and short-term borrowings of Rs 1,593.94 lakhs resulting in a very high debt-to-equity ratio of roughly 9–16x.