Comprehensive Financial Overview
Mini Diamonds (India) Limited submitted its 39th Annual Report for FY 2025-26, reporting standalone revenue growth of 40% to ₹5,678.49 crore but a significant 53% decline in net profit to ₹1.60 crore. The consolidated financial statements prepared under Ind AS show total revenue from operations of ₹5,672.17 lakhs with profit after tax of ₹10.64 lakhs, including results from subsidiaries Namra Jewels Private Limited and Pyramid Gold Assaying & Hallmarking Centre Private Limited.
Operational Performance & Segment Analysis
The company demonstrated strong segment performance with Lab Grown Diamonds showing exceptional growth, surging to ₹136.20 crore from ₹23.52 crore in FY25. Geographic revenue distribution showed Singapore contributing ₹10.64 crore, Hong Kong ₹33.83 crore, and domestic market ₹517.57 crore. Inventory levels increased significantly to ₹64.45 crore from ₹29.01 crore in the previous year, reflecting expanded operations.
Corporate Actions & Capital Structure
Significant corporate actions were implemented including sub-division of shares from ₹10 to ₹2 face value and a post-year bonus issue that increased paid-up capital to ₹47.14 crore. The company also increased authorized capital to ₹50 crore and had pending approvals for preferential issue of 111 lakh convertible warrants to promoters at ₹8 each.
Management & Governance
The Board proposed reappointment of Upendra Shah as Managing Director for 3 years from March 2027 with remuneration of ₹24-50 lakh annually. Key managerial changes included resignation of Archana Agarwal as Company Secretary and appointment of Ayushi Lunia as replacement. The company maintained full compliance with SEBI Listing Regulations and corporate governance requirements.
Financial Position & Liabilities
Trade payables stood at ₹200.76 crore, including ₹7.11 crore owed to MSME suppliers. The company maintained short-term borrowings of ₹2.61 crore and current tax liability of ₹0.56 crore. Financial statements received unmodified audit opinion from Mittal & Associates, with minor qualifications from secretarial auditor regarding XBRL filing compliance.
Future Outlook & Strategy
The company outlined expansion plans focusing on specialized sales stores in Singapore and Hong Kong markets, participation in exhibitions, and development of lab-grown diamond business. Management emphasized preserving resources for expansion, hence no dividend was recommended for FY26 despite the revenue growth achieved during the year.