Sunraj Diamond Exports Ltd (523425)
🎯 Key Takeaways
- Sunraj Diamond Exports Ltd is a small-cap consumer durables company operating in the diamond and jewellery sector, currently in a distressed phase marked by persistent losses, negative ROE and ROCE, and declining market relevance. The company has reported minimal revenue in recent quarters, with multiple periods showing zero top-line and negative operating metrics, indicating severe operational headwinds and a likely ongoing business contraction.
- Revenue grew 2100% QoQ to ₹0 in Q1FY27.
- ⚠️ Persistent operational shutdown or severely diminished business activity evidenced by recurring zero revenue and negative margins.
📖 The Story
Sunraj Diamond Exports Ltd is a small-cap consumer durables company operating in the diamond and jewellery sector, currently in a distressed phase marked by persistent losses, negative ROE and ROCE, and declining market relevance. The company has reported minimal revenue in recent quarters, with multiple periods showing zero top-line and negative operating metrics, indicating severe operational headwinds and a likely ongoing business contraction.
📰 What's Happening
The company has not announced any new orders, expansions, or strategic initiatives in recent filings. Management has not provided updates on operations or demand trends in the latest quarterly results. There has been no mention of restructuring, capital raising, or new product launches in the disclosed filings. The absence of operational updates suggests stagnation or potential suspension of core activities.
Source: Stock Announcements
📊 Quarterly Results (₹ Cr)
| Metric | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|
| Revenue | 0 | 1 | 1 | 0 | 0 |
| Operating Profit | -0 | -0 | 0 | -0 | -0 |
| OPM % | -60.9% | -13.2% | 0.7% | -1100.0% | -18.2% |
| Net Profit | -0 | 0 | 0 | -0 | -0 |
| EPS | ₹-0.28 | ₹0.26 | ₹0.02 | ₹-0.04 | ₹-0.15 |
Revenue has collapsed from ₹1 crore in September 2025 to ₹0 in December 2025 and June 2026, with operating margins deteriorating from 0.7% to -1100% and -18.2% in subsequent periods. Net losses have widened, with EPS turning negative to ₹-0.15 in June 2026, reflecting a complete erosion of profitability. The financial trajectory indicates a business in structural decline with no visible recovery path.
🔮 Management Outlook & What's Next
There is no forward guidance, business outlook, or management commentary available in the latest regulatory filings. The company has not provided any updates on future expectations, demand trends, or recovery plans in its recent disclosures. The lack of guidance suggests either operational silence or an absence of a defined strategic direction.
Extracted from official company announcements. Not StockFin.ai's opinion.
🏦 Balance Sheet (₹ Cr)
| Item | Mar 2025 | Mar 2025 | Mar 2026 | Mar 2026 |
|---|---|---|---|---|
| Equity Capital | 5 | 5 | 5 | 5 |
| Reserves | -4 | -4 | -4 | -4 |
| Borrowings | 17 | 17 | 16 | 15 |
| Total Liabilities | 27 | 27 | 26 | 26 |
| Fixed Assets | 0 | 0 | 0 | 0 |
| Investments | 0 | 0 | 0 | 0 |
| Total Assets | 27 | 27 | 26 | 26 |
The balance sheet shows stable but highly leveraged structure, with total assets flat at ₹26 crore and borrowings remaining elevated at ₹15–17 crore over the past two years. Equity remains minimal at ₹5 crore, while reserves are deeply negative, indicating accumulated losses. Capital allocation appears passive, with no evidence of new investment or deleveraging initiatives.
💰 Cash Flow Statement (₹ Cr)
| Item | Mar 2025 |
|---|---|
| Operating | -0 |
| Investing | +0 |
| Financing | +0 |
| Net Cash Flow | -0 |
👥 Shareholding Pattern
| Category | Q2FY26 | Q3FY26 | Q4FY26 | Q1FY27 |
|---|---|---|---|---|
| Promoters | 35.8% | 35.8% | 35.8% | 35.8% |
| FII | 0.0% | 0.0% | 0.0% | 0.0% |
| DII | 0.2% | 0.2% | 0.2% | 0.2% |
| Public | 60.3% | 61.0% | 60.8% | 60.8% |
| # Shareholders | 9,638 | 9,659 | 9,637 | 9,598 |
Promoter holding remains stable at 35.83% with no changes observed in recent quarters. Institutional (FII) and DII holdings are negligible, collectively holding less than 0.2% of the company. The shareholder base is fragmented, with over 9,500 public shareholders, suggesting retail dominance and limited institutional confidence.
⚖️ Peer Comparison — Diamond, Gems and Jewellery
| Company | MCap (₹ Cr) | P/E | ROCE | ROE | D/E |
|---|---|---|---|---|---|
| TITAN | 4.44 L Cr | 77.1 | 20.9% | 36.7% | 1.75 |
| KALYANKJIL | 62,032 | 43.2 | 29.0% | 29.9% | 0.69 |
| LALITHAA | 16,924 | — | — | — | 0.55 |
| THANGAMAYL | 15,962 | 40.8 | 26.3% | 27.6% | 0.58 |
| BLUESTONE | 13,568 | 267.4 | 13.2% | 5.9% | 1.23 |
| PCJEWELLER | 13,303 | 13.8 | 9.7% | 9.7% | 0.13 |
| SKYGOLD | 12,815 | 38.1 | 42.5% | 50.6% | 0.89 |
| PNGJL | 8,326 | 18.7 | 29.7% | 28.7% | 0.53 |
| SENCO | 5,676 | 9.9 | 20.4% | 22.7% | 0.93 |
| GOLDIAM | 4,888 | 17.5 | 38.4% | 28.5% | 0.01 |
🔗 Peer Stock Analyses
⚠️ Risk Factors
1. Persistent operational shutdown or severely diminished business activity evidenced by recurring zero revenue and negative margins. 2. Deepening losses with no signs of recovery, raising solvency concerns. 3. High leverage combined with negative equity reserves, creating a fragile capital structure. 4. Complete lack of management communication or strategic updates, signaling governance or operational uncertainty.
📋 Recent Filings
-
🔴 Corporate Action 4 September 2026Sunraj Diamond Exports announced that its board set September 18, 2026 as the record date for e-voting at the 36th Annual General Meeting scheduled fo...
-
🟡 Board Meeting 4 September 2026Sunraj Diamond Exports Ltd announced its 36th Annual General Meeting will be held on September 30, 2026 at 11:30 a.m. IST via video conferencing or ot...
-
🟡 Board Meeting 4 September 2026Sunraj Diamond Exports Ltd announced its 36th Annual General Meeting scheduled for September 30, 2026 at 11:30 a.m. IST via Video Conferencing or Othe...
-
🟡 Board Meeting 4 September 2026Sunraj Diamond Exports announced a book closure from September 19 to 30, 2026, to facilitate its 36th Annual General Meeting on September 30, 2026, at...
🧠 Analyst's Read
Sunraj Diamond Exports appears to be in a terminal phase of operational decline with no visible catalysts for recovery. Investors should monitor for further disclosures on business status or potential delisting, but the current trajectory offers no indication of stabilization or turnaround.
Based on filing content and financial data. Not a recommendation.
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Data sourced from stock announcements. Analysis generated by StockFin.ai.
For informational purposes only — not investment advice. Updated 2026-09-13.
Editorial & Data Transparency Notice
This analysis was programmatically compiled using StockFin AI utilizing official regulatory disclosures from the BSE and NSE. Content is automatically synthesized and audited against public financial filings. StockFin.ai is an educational research platform and is NOT a SEBI-registered investment advisor or research analyst.
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