Sovereign Diamonds Appoints Sumer Gehani as Non-Executive Director
Sovereign Diamonds Limited has appointed Sumer Gehani, son of the Chairman, as Non-Executive Director for a five-year term starting August 12, 2025. Gehani, a Babson College graduate with experience in luxury and technology sectors, joins as the company faces financial difficulties. Q1 FY2026 results show increased net sales of ₹780.44 lakhs but a net loss of ₹485.28 lakhs due to higher expenses.
12Aug 25
Sovereign Diamonds Reports Significant Net Loss in Q1 Amid Rising Costs
Sovereign Diamonds Limited, a manufacturer of 18K fine jewellery, reported a net loss of ₹485.28 crore for Q1 ending June 30, compared to a ₹6.45 crore loss in the same period last year. Total income increased to ₹817.81 crore from ₹568.20 crore, and net sales rose to ₹780.44 crore from ₹533.98 crore. However, total expenses surged to ₹1,303.34 crore from ₹570.96 crore, with material costs rising significantly. The company appointed Mr. Sumer Gehani as a Non-Executive Director for a 5-year term.