Sovereign Diamonds Q2FY27 Net Loss Widens to ₹62.37 Lakh as Revenue Falls 66.7%

Sovereign Diamonds Ltd reported a net loss of ₹62.37 lakh for the quarter ended September 30, 2026, wider than the ₹57.08 lakh loss in the previous quarter, ScanX said. Revenue from operations fell 66.7% year-over-year to ₹44.22 lakh. The company trades and brokers polished diamonds.

Sovereign Diamonds' Q2FY27 Loss and Revenue Slide

The board of directors approved the unaudited financial results on October 24, 2026. Revenue from operations declined from ₹130.30 lakh in Q1FY27 and ₹132.87 lakh in the year-ago period. Total income fell 58.1% year-over-year to ₹70.99 lakh, while total expenses reached ₹129.83 lakh.

Cost of materials consumed was ₹88.59 lakh in Q2FY27, exceeding total income of ₹70.99 lakh. The company reported a loss before tax of ₹58.84 lakh, compared with a profit before tax of ₹13.00 lakh in Q2FY26. Net loss after tax was ₹62.37 lakh, against a net profit after tax of ₹10.30 lakh a year earlier.

For H1FY27, the net loss was ₹119.45 lakh, compared with a loss of ₹474.99 lakh in H1FY26. Total assets fell to ₹1,164.15 lakh as of September 30, 2026, from ₹1,284.65 lakh at the end of FY26. Inventories decreased to ₹603.65 lakh, and trade receivables of ₹61.95 lakh at March 2026 were eliminated.

Cash and cash equivalents rose to ₹205.24 lakh as of September 30, 2026, from ₹105.73 lakh in March 2026. Cash flow from operating activities was positive at ₹53.27 lakh in H1FY27, supported by a ₹127.31 lakh reduction in inventories and a ₹61.94 lakh collection of trade receivables. The company reported zero borrowings.

Sovereign Diamonds' October 24 Board Approval

The board of directors approved the unaudited financial results for the quarter ended September 30, 2026 on October 24, 2026, according to ScanX. The results cover the second quarter of the company's fiscal year 2027.