Sunraj Diamond Exports Limited reported a standalone net profit of ₹5.11 lakh for FY26, marking a 41% decline from ₹8.70 lakh in the previous year. The company’s consolidated bottom line swung to a loss of ₹5.65 lakh, compared to a profit of ₹5.98 lakh in FY25.

While standalone revenue from operations grew 26.5% to ₹23.37 crore, the consolidated entity recorded a loss before tax of ₹21.32 crore. This deterioration was driven by a significant increase in cost of traded goods, which nearly doubled to ₹15.76 crore from ₹8.88 crore in the prior year.

Financial Performance Overview

The company’s standalone operations showed mixed results, with top-line growth failing to translate into bottom-line stability due to rising input costs and other expenses. The consolidated view reflects the additional burden from its subsidiary, Sunraj Diamonds DMCC, which incurred a loss of ₹3,434 during the period.

What the Numbers Show

A critical divergence exists between the standalone and consolidated performance. While the standalone entity remained profitable due to a substantial tax credit of ₹15.66 crore arising from adjustments for earlier years, the consolidated entity posted a loss. This indicates that the operational profitability was negative; the standalone profit was entirely driven by non-operational tax benefits rather than core business growth. The consolidated loss before tax of ₹21.32 crore highlights the underlying operational stress masked by these one-time tax adjustments in the standalone accounts.

Balance Sheet and Liquidity

The company’s total assets decreased to ₹255.25 crore from ₹268.13 crore in the previous year. Inventories, which constitute a major portion of current assets, declined slightly to ₹164.63 crore. Trade receivables stood at ₹88.53 crore, with a significant portion aged over three years, raising concerns about collection efficiency despite management’s assertion of recoverability.

Borrowings, primarily unsecured loans from directors, reduced to ₹146.83 crore from ₹167.55 crore. The cash position improved marginally to ₹2.39 crore on a standalone basis, aided by positive operating cash flows of ₹20.91 crore driven by working capital releases.

Operational Context

The diamond trading sector faced headwinds in FY26, characterized by weak global demand and competition from lab-grown diamonds. The company’s management noted that raw material prices remained low, which impacted margins but offered some opportunity for traders. No dividend was recommended for the year, consistent with the need to conserve resources amidst fluctuating profits.

Sunraj Diamond Exports has fixed September 18, 2026, as the record date for e-voting at its 36th Annual General Meeting (AGM). The Board of Directors confirmed this in a filing with the Bombay Stock Exchange on September 4, 2026.

The company also announced that the Register of Members and Share Transfer books will remain closed from September 19, 2026 to September 30, 2026 (both days inclusive). This closure period determines eligibility to attend and vote at the upcoming AGM.

AGM Schedule and Agenda

The 36th AGM is scheduled for 11:30 am on September 30, 2026. The meeting will be conducted via Video Conferencing or Other Audio-Visual Means, as physical attendance is dispensed with pursuant to Ministry of Corporate Affairs circulars.

The agenda includes ordinary business items as per the Companies Act, 2013. Shareholders are expected to receive, consider, and adopt the Audited Financial Statements for the fiscal year ended March 31, 2026. This covers the standalone and consolidated Balance Sheet, Statement of Profit and Loss, and Cash Flow Statement.

Director Reappointment

Mrs. Shruti Sunny Gandhi (DIN: 06947535) retires by rotation at the meeting. Being eligible, she offers herself for reappointment as a Non-Executive Director. She holds an M.Com degree and brings experience in management and finance. As of June 30, 2026, her shareholding in the company is nil.

Voting and Participation

The company is providing remote e-voting facilities through National Securities Depository Limited (NSDL). The remote e-voting period commences on September 27, 2026, at 9:00 am and ends on September 29, 2026, at 5:00 pm. Members holding shares as of the cut-off date, September 18, 2026, are eligible to vote.

Consequently, the facility for appointment of proxies is not available for this meeting. Members can join the virtual meeting 30 minutes before the scheduled time using stable internet connections.