Sovereign Diamonds reports net loss of ₹467.12 lakh in FY26

Sovereign Diamonds Limited reported a net loss of ₹467.12 lakh for FY26, reversing the previous year’s profit of ₹1.26 lakh, as total income fell to ₹1,531.04 lakh. The Board approved audited results and re-appointed key leadership, including Mr Ajay Gehani as Chairman and Managing Director.

Sovereign Diamonds Limited reported a net loss of ₹467.12 lakh for the financial year ended March 31, 2026, reversing the net profit of ₹1.26 lakh recorded in the previous year. The company’s total income declined to ₹1,531.04 lakh in FY26 from ₹2,146.62 lakh in FY25, primarily due to a decrease in net sales. The Board of Directors approved the audited annual financial results and re-appointed key leadership and auditors for the upcoming terms.

The company’s net sales for the year ended March 31, 2026, fell to ₹1,408.27 lakh from ₹1,997.21 lakh in the corresponding previous period. Total expenses increased to ₹1,992.43 lakh in FY26 from ₹1,133.89 lakh in FY25, driven by higher costs of materials consumed and employee benefits expenses. The basic and diluted earnings per share (EPS) for the year stood at a loss of ₹8.07, compared to an EPS of ₹0.02 in the prior year. For the quarter ended March 31, 2026, the company reported a net loss of ₹32.31 lakh, compared to a net loss of ₹12.58 lakh in the same quarter of the previous year. Total income for the quarter stood at ₹231.12 lakh, down from ₹435.67 lakh in Q4 FY25. The statutory auditors expressed an unmodified opinion on the audited annual financial results.