- Home
- Results news
- Sovereign Diamonds
- Q2 FY27 results
Sovereign Diamonds Q2 FY27 results: net loss of ₹0.62 crore vs ₹0.10 crore profit, revenue down 58.0%
Sovereign Diamonds Ltd reported standalone revenue of ₹0.71 crore in Q2 FY27, a net loss of ₹0.62 crore and basic EPS of ₹1.08. Revenue was lower than both Q2 FY26 and Q1 FY27, while the company reported no exceptional item for the quarter.
Key points
- Q2 FY27 standalone revenue was ₹0.71 crore, down from ₹1.69 crore in Q2 FY26 and ₹1.49 crore in Q1 FY27.
- The company reported a net loss of ₹0.62 crore in Q2 FY27, against a net profit of ₹0.10 crore in Q2 FY26 and a net loss of ₹0.57 crore in Q1 FY27.
- EBITDA was a loss of ₹0.49 crore, with an EBITDA margin of -68.6%, compared with 15.9% in Q2 FY26 and -32.9% in Q1 FY27.
- Basic EPS was ₹1.08, compared with ₹0.18 in Q2 FY26 and ₹0.99 in Q1 FY27.
- In H1 FY27, revenue was ₹2.20 crore, down 77.7% from ₹9.87 crore in H1 FY26, while the net loss was ₹1.19 crore.
How did Sovereign Diamonds perform in Q2 FY27?
Sovereign Diamonds reported standalone revenue of ₹0.71 crore in Q2 FY27, down from ₹1.69 crore in Q2 FY26 and ₹1.49 crore in Q1 FY27. EBITDA was a loss of ₹0.49 crore and the EBITDA margin was -68.6%, against 15.9% in Q2 FY26 and -32.9% in Q1 FY27. The figures are standalone, and the company operates in a single segment, Gold and Diamond studded Jewellery.
The company reported a net loss of ₹0.62 crore in Q2 FY27, compared with a net profit of ₹0.10 crore in Q2 FY26 and a net loss of ₹0.57 crore in Q1 FY27. Profit before tax was a loss of ₹0.59 crore, while basic EPS was ₹1.08, compared with ₹0.18 in the year-ago quarter and ₹0.99 in the previous quarter. No exceptional item was reported.
| ₹ crore | Q2 FY27 | Q1 FY27 | Q2 FY26 | YoY | QoQ |
|---|---|---|---|---|---|
| Revenue from operations | 0.71 | 1.49 | 1.69 | −58.0% | −52.3% |
| Other income | 0 | 0 | 0 | ||
| Total expenses | 1.30 | 2.09 | 1.56 | −16.7% | −37.8% |
| EBITDA | −0.49 | −0.49 | 0.27 | turned to loss | |
| EBITDA margin | -68.6% | -32.9% | 15.9% | −84.5 pp | −35.7 pp |
| Profit before tax | −0.59 | −0.60 | 0.13 | turned to loss | |
| Tax | 0.04 | −0.03 | 0.03 | +33.3% | |
| Net profit | −0.62 | −0.57 | 0.10 | turned to loss | |
| EPS (₹) | −1.08 | −0.99 | 0.18 | turned to loss |
EBITDA here is revenue from operations less operating costs (total expenses excluding finance costs and depreciation): before other income and exceptional items. Growth is shown only when both figures are positive. Source: Company's results filing (XBRL).
What changed in Sovereign Diamonds' costs and profit?
Total expenses fell to ₹1.30 crore in Q2 FY27 from ₹1.56 crore in Q2 FY26, a decline of ₹0.26 crore, or 16.7%. Cost of materials consumed fell by ₹0.71 crore, or 44.4%, employee benefits expense fell by ₹0.31 crore, or 66.0%, finance costs fell by ₹0.01 crore, or 50.0%, and depreciation fell by ₹0.03 crore, or 25.0%. Other expenses increased by ₹0.15 crore, or 93.8%.
Other income was unchanged at ₹0 crore, and no exceptional item was reported. Tax expense was ₹0.04 crore, up ₹0.01 crore, or 33.3%, from Q2 FY26. Despite the lower expense total, the company reported a net loss of ₹0.62 crore in Q2 FY27, compared with a net profit of ₹0.10 crore in the year-ago quarter.
| ₹ crore | Q2 FY27 | Q2 FY26 | Change | Change % |
|---|---|---|---|---|
| Cost of materials | 0.89 | 1.60 | −0.71 | −44.4% |
| Employee cost | 0.16 | 0.47 | −0.31 | −66.0% |
| Finance costs | 0.01 | 0.02 | −0.01 | −50.0% |
| Depreciation | 0.09 | 0.12 | −0.03 | −25.0% |
| Other expenses | 0.31 | 0.16 | +0.15 | +93.8% |
| Total expenses | 1.30 | 1.56 | −0.26 | −16.7% |
| Other income | 0 | 0 | 0 | |
| Tax | 0.04 | 0.03 | +0.01 | +33.3% |
Source: Company's results filing (XBRL).
How did the first half of FY27 go?
In the first half of FY27, Sovereign Diamonds reported revenue of ₹2.20 crore, compared with ₹9.87 crore in H1 FY26, a decline of ₹7.67 crore or 77.7%. Total income was also ₹2.20 crore, down from ₹9.87 crore. The company reported a profit before tax loss of ₹1.19 crore, compared with a loss of ₹4.73 crore, and a net loss of ₹1.19 crore against a net loss of ₹4.75 crore.
Basic EPS for H1 FY27 was ₹2.06, compared with ₹8.21 for H1 FY26. The company reported no exceptional item for the first half. The results were approved by the board on 24 October 2026 after review by the audit committee.
| ₹ crore | H1 FY27 | H1 FY26 | Change |
|---|---|---|---|
| Revenue from operations | 2.20 | 9.87 | −77.7% |
| Profit before tax | −1.19 | −4.73 | |
| Net profit | −1.19 | −4.75 | |
| EPS (₹) | −2.06 | −8.21 |
Source: Company's results filing (XBRL).
What do the balance sheet and cash flow show?
At 30 September 2026, total assets were ₹11.64 crore, compared with ₹12.85 crore at 31 March 2026, while total equity was ₹11.19 crore compared with ₹12.40 crore. The company had no borrowings at either balance sheet date. Cash and cash equivalents were ₹2.05 crore, compared with ₹1.06 crore at the previous balance sheet date.
Inventories fell to ₹6.04 crore from ₹7.31 crore, and trade receivables were ₹0.00 crore compared with ₹0.62 crore. Trade payables were ₹0.03 crore at both dates. In H1 FY27, operating cash flow was ₹0.53 crore, compared with ₹9.38 crore in H1 FY26, while investing cash flow was ₹0.46 crore compared with ₹0.70 crore and financing cash flow was ₹0.00 crore compared with ₹9.02 crore.
| ₹ crore | As of 30 September 2026 | As of 31 March 2026 |
|---|---|---|
| Total assets | 11.64 | 12.85 |
| Total equity | 11.19 | 12.40 |
| Borrowings | 0 | 0 |
| Cash and equivalents | 2.05 | 1.06 |
| Inventories | 6.04 | 7.31 |
| Trade receivables | 0 | 0.62 |
Source: Company's results filing (XBRL).
| ₹ crore | H1 FY27 | H1 FY26 |
|---|---|---|
| Cash from operations | 0.53 | 9.38 |
| Cash from investing | 0.46 | 0.70 |
| Cash from financing | 0 | −9.02 |
| Capital expenditure | 0.23 | 0.01 |
Source: Company's results filing (XBRL).
How has Sovereign Diamonds done over the last 8 quarters?
Revenue reached a high of ₹11.55 crore in Q3 FY25 and a low of ₹0.71 crore in Q2 FY27. Net profit was highest at ₹0.40 crore in Q3 FY26 and lowest at a loss of ₹4.85 crore in Q1 FY26. The latest quarter therefore shows lower revenue and a net loss compared with the earlier high-revenue quarters.
The EBITDA margin peaked at 17.7% in Q3 FY26 and bottomed at -68.6% in Q2 FY27. Revenue declined from ₹1.49 crore in Q1 FY27 to ₹0.71 crore in Q2 FY27, while the net loss moved from ₹0.57 crore to ₹0.62 crore.
How did Sovereign Diamonds shares react?
The stock rose 2.8% on the reaction day, measured from the previous close to the close of the first session that could trade on the news. By the next day's close, it was up 9.5% from its pre-results close, and by the fifth session it was up 13.4%. The Gems, Jewellery And Watches industry moved 0.0% on the reaction day, -0.1% by the next day and 1.1% by the fifth day.
Sovereign Diamonds outperformed the industry median by 2.8 percentage points on the reaction day, 9.6 percentage points by the next day's close and 12.3 percentage points by the fifth session. Earlier results-day moves were 0.9% on 14 August 2026, 1.6% on 29 May 2026 and 1.0% on 6 February 2026; the recorded reaction was -4.9% on 14 November 2025 and -3.1% on 12 August 2025.
| After the filing | Stock | Gems, Jewellery And Watches median |
|---|---|---|
| Reaction day | +2.8% | +0.0% |
| Next day | +9.5% | −0.1% |
| 5 days | +13.4% | +1.1% |
Minutes are measured from the price when the filing appeared; days from the previous close. Source: MarketPing price-reaction measurement.
| Results filed on | Stock on the reaction day |
|---|---|
| 14 August 2026 | +0.9% |
| 29 May 2026 | +1.6% |
| 6 February 2026 | +1.0% |
| 14 November 2025 | −4.9% |
| 12 August 2025 | −3.1% |
| 27 May 2025 | +0.8% |
| 14 August 2024 | −1.9% |
Source: MarketPing price-reaction measurement.
How did other Gems, Jewellery And Watches companies do?
Among 13 other Gems, Jewellery And Watches companies that filed for the quarter, the median revenue growth was 18.3%. One peer grew revenue more slowly than Sovereign Diamonds and 12 grew faster. Eight peers reported higher profit, based on 11 peers for which profit was compared.
Sovereign Diamonds’ revenue declined 58.0% in Q2 FY27, while the peer group’s median revenue growth was 18.3%. The peer comparison was recorded as of 4 November 2026, and the company operates in the Gems, Jewellery And Watches industry.
| Sovereign Diamonds revenue growth (YoY) | −58.0% |
|---|---|
| Median of 13 other Gems, Jewellery And Watches companies | +18.3% |
| Companies with slower revenue growth than Sovereign Diamonds | 1 of 13 |
| Companies with faster revenue growth than Sovereign Diamonds | 12 of 13 |
| Companies whose net profit rose | 8 of 11 |
Source: Filed results (XBRL) of the industry's companies.
Quick answers
What was Sovereign Diamonds' revenue in Q2 FY27?
Revenue from operations was ₹0.71 crore, down 58.0% from ₹1.69 crore in Q2 FY26 (standalone).
Did Sovereign Diamonds make a profit in Q2 FY27?
No. It reported a net loss of ₹0.62 crore, against a net profit of ₹0.10 crore in Q2 FY26.
What was Sovereign Diamonds' EPS in Q2 FY27?
Basic loss per share was ₹1.08, against ₹0.18 in Q2 FY26.
How did Sovereign Diamonds shares react to the Q2 FY27 results?
On the reaction day the stock moved +2.8% from the previous close; the median Gems, Jewellery And Watches stock moved +0.0%.
When did Sovereign Diamonds announce its Q2 FY27 results?
On 24 October 2026, in a filing to the BSE.
Sources
- Board Meeting Intimation for Financial Results For 30-Sep-2026 (BSE, 20 October 2026) · PDF
- Board Meeting Outcome for Un-Audited Financial Results For Quarter And Half Year Ended 30-Sep-2026 (BSE, 24 October 2026) · PDF
- Un-Audited Financial Results For The Quarter And Half Year Ended 30-Sep-2026 (BSE, 24 October 2026) · PDF
How this was written: every figure in the tables and charts is calculated from the company’s filed results (XBRL) and MarketPing’s price measurements. The text is drafted with AI from those figures and the filings, and a checker removes any sentence carrying a number it cannot trace to them. How we write these.
This is information, not investment advice. MarketPing does not recommend buying or selling any security.