Board approved Sep 2026 quarter results; limited review finds no material misstatement
Sovereign Diamonds' board met on 24 Oct 2026 (11.30 a.m. to 12.30 p.m.) and approved the un-audited standalone financial results for the quarter and half year ended 30 Sep 2026.
By ScoutQuest · · 2 min read
| Line item | Latest | Year ago | YoY | Prev qtr | QoQ |
|---|---|---|---|---|---|
| Revenue from operations | 44.22 | 132.87 | −66.7% | 130.30 | −66.1% |
| Total income | 70.99 | 169.36 | −58.1% | 149.25 | −52.4% |
| Profit before tax | (58.84) | 13.00 | — | (60.23) | +2.3% |
| Profit after tax | (62.37) | 10.30 | — | (57.08) | −9.3% |
| Total comprehensive income | (62.36) | 9.61 | — | (57.97) | −7.6% |
| Basic EPS | (1.08) | 0.18 | — | (0.99) | −9.1% |
- Total Income (Year ago)
- 169.36 (−58.1%)
- Period
- Quarter Ended 30-09-2026 (Unaudited)
Auditor's review
Conclusion: Unmodified
What the board approved
The board of Sovereign Diamonds Ltd met on 24 October 2026 from 11.30 a.m. to 12.30 p.m. and approved the un-audited financial results for the quarter and half year ended 30 September 2026. The update carries the results statement, the statement of assets and liabilities, the cash flow statement and the limited review report. The figures are standalone and stated in lakh; they are reviewed, not audited.
Auditor's conclusion
J. D. Zatakia & Co., Chartered Accountants, reviewed the statement and concluded that nothing came to their attention that causes them to believe it fails to disclose what the listing rules require or contains any material misstatement. The notes to the results record that the statutory auditors have expressed an unmodified audit opinion. The review gives moderate, not absolute, assurance.
Quarter in numbers (Q2 FY27 vs Q2 FY26)
- 'Total Income (net)': 70.99 lakh against 169.36 lakh
- 'Net Sales / Income from Operations': 44.22 lakh against 132.87 lakh
- 'Total Expenses': 129.83 lakh against 156.36 lakh
- 'Net Profit / (Loss) for the period after tax': (62.37) lakh against 10.30 lakh
- Basic earnings per share: (1.08) against 0.18
Half year picture
- 'Total Income (net)': 220.24 lakh against 987.17 lakh
- 'Total Expenses': 339.31 lakh against 1459.71 lakh
- 'Net Profit / (Loss) for the period after tax': (119.45) lakh against (474.99) lakh, so the loss is smaller than in the same half last year
- Basic earnings per share: (2.06) against (8.21)
Balance sheet as at 30 September 2026 (vs 31 March 2026)
- Total assets: 1,164.15 lakh against 1,284.65 lakh
- Inventories: 603.65 lakh against 730.96 lakh
- Cash and cash equivalents: 205.24 lakh against 105.73 lakh
- Total equity: 1,119.30 lakh against 1,239.62 lakh
- Total current liabilities: 44.85 lakh against 45.03 lakh
Cash flow for the half year
- Net cash generated from operating activities: 53.27 lakh
- Net cash used in investing activities: 46.23 lakh
- Net increase in cash and cash equivalents: 99.51 lakh
What a retail investor can take away
The company operates in a single segment, 'Gold and Diamond studded Jewellery'. In the September quarter, total income was below total expenses, producing a loss for the period, while the same quarter a year earlier was profitable. Over the half year, the loss is narrower than last year because expenses fell by more than income did. The balance sheet shows a smaller asset base than at 31 March 2026, with inventories lower and cash higher.
Also from Sovereign Diamonds
Board meeting on 24 October 2026 to approve unaudited results for September quarter and half year
20 Oct 2026
More numbers
- Total Expenses, Q2 FY27129.83
- Total Income (net), half year FY27220.24
- Net Profit / (Loss) for the period, half year FY27(119.45)
- Cash and cash equivalents as at 30 Sep 2026205.24
- Total income, latest quarter70.99 (In Lakhs)
- Total income, year-ago quarter169.36 (In Lakhs)
- Total income, previous quarter149.25 (In Lakhs)
- Total comprehensive income, latest quarter(62.36) (In Lakhs)
- Total comprehensive income, year-ago quarter9.61 (In Lakhs)
- Total comprehensive income, previous quarter(57.97) (In Lakhs)
- Profit after tax, latest quarter(62.37) (In Lakhs)
- Profit after tax, year-ago quarter10.30 (In Lakhs)
- Profit after tax, previous quarter(57.08) (In Lakhs)
- Revenue from operations, latest quarter44.22 (In Lakhs)
- Revenue from operations, year-ago quarter132.87 (In Lakhs)
- Revenue from operations, previous quarter130.30 (In Lakhs)
- Profit before tax, latest quarter(58.84) (In Lakhs)
- Profit before tax, year-ago quarter13.00 (In Lakhs)
- Profit before tax, previous quarter(60.23) (In Lakhs)
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