Sunraj Diamond Exports Limited swings to Q2 loss as revenue falls 35%

Sunraj Diamond Exports Limited reported a Rs 6.95 lakh standalone net loss for the quarter ended September 30, 2026, compared with a Rs 16.45 lakh profit a year earlier, after revenue from operations fell 35% to Rs 44.18 lakh and other income declined to nil from Rs 25.39 lakh.

Why did Sunraj Diamond Exports report a loss in Q2 2026?

Sunraj Diamond Exports reported a loss because total income declined to Rs 44.18 lakh in the quarter ended September 30, 2026, from Rs 93.18 lakh in the corresponding quarter a year earlier, while total expenses fell to Rs 51.06 lakh from Rs 76.69 lakh. The company consequently moved from a Rs 16.45 lakh net profit in the September 2025 quarter to a Rs 6.95 lakh net loss.

Revenue from operations declined by Rs 23.60 lakh, or 35%, to Rs 44.18 lakh from Rs 67.78 lakh. The latest quarter had no other income, against Rs 25.39 lakh in the year-earlier quarter. The removal of that other-income contribution, alongside lower operating revenue, reduced total income by Rs 49 lakh year on year.

Loss before tax was Rs 6.88 lakh for the September 2026 quarter, compared with profit before tax of Rs 16.49 lakh a year earlier. Tax expense was Rs 0.07 lakh, versus Rs 0.04 lakh in the September 2025 quarter. Total expenses reduced by Rs 25.63 lakh, but that reduction was smaller than the fall in total income.

How did Sunraj Diamond Exports perform against the June quarter?

Sunraj Diamond Exports narrowed its standalone net loss to Rs 6.95 lakh in the quarter ended September 30, 2026, from Rs 7.90 lakh in the quarter ended June 30, 2026. Revenue from operations was largely unchanged at Rs 44.18 lakh, compared with Rs 44.42 lakh in the preceding quarter, while expenses declined by Rs 1.24 lakh to Rs 51.06 lakh.

The pre-tax loss also narrowed, to Rs 6.88 lakh from Rs 7.88 lakh over the two quarters. Other income was nil in both periods, so the reported sequential change occurred without an increase in operating revenue. The figures show that lower expenses, rather than higher revenue or other income, accompanied the reduction in the quarterly loss.

Basic and diluted earnings per share, not annualised, were each a loss of Rs 0.13 for the September 2026 quarter. That compares with a loss of Rs 0.15 per share in the June 2026 quarter and earnings of Rs 0.31 per share in the September 2025 quarter. Paid-up equity share capital was Rs 53.30 lakh in each of the three quarterly periods, with a face value of Rs 10 per share.

What were Sunraj Diamond Exports' first-half results?

Sunraj Diamond Exports reported a Rs 14.85 lakh standalone net loss for the six months ended September 30, 2026, compared with a Rs 1.50 lakh net profit in the corresponding prior-year six months. Revenue from operations was Rs 88.60 lakh, down from Rs 90.71 lakh in the year-earlier half year.

Total income for the six months ended September 30, 2026 was Rs 88.61 lakh, compared with Rs 116.60 lakh a year earlier. Total expenses were Rs 103.37 lakh, down from Rs 114.94 lakh. The lower expense base did not offset the Rs 27.99 lakh reduction in total income, resulting in a pre-tax loss of Rs 14.76 lakh against a Rs 1.66 lakh pre-tax profit a year earlier.

The first-half result includes the Rs 7.90 lakh loss reported in the quarter ended June 30, 2026 and the Rs 6.95 lakh loss in the September quarter. Other comprehensive income was nil in the latest six-month period, compared with Rs 5.11 lakh in the corresponding prior-year period. Total comprehensive loss was therefore Rs 14.85 lakh, versus total comprehensive income of Rs 5.11 lakh.

What do Sunraj Diamond Exports' balance sheet and cash flow show?

Sunraj Diamond Exports reported total assets of Rs 25.17 crore as at September 30, 2026, compared with Rs 26.44 crore in the comparative balance-sheet column. Inventories were Rs 16.35 crore, down from Rs 17.32 crore, while total equity declined to Rs 1.59 crore from Rs 1.70 crore.

Trade receivables were Rs 8.27 crore as at September 30, 2026, compared with Rs 8.47 crore in the comparative balance-sheet column. Trade payables were Rs 14.97 crore, down from Rs 15.94 crore. Cash and cash equivalents were Rs 2.46 lakh, compared with Rs 8.26 lakh in the comparative balance-sheet column.

Net cash used in operating activities was Rs 28.65 lakh for the six months ended September 30, 2026, compared with net cash generated from operating activities of Rs 89.23 lakh in the corresponding prior-year period. The latest half-year cash flow included a pre-tax loss of Rs 14.76 lakh, while the year-earlier period reported a Rs 1.66 lakh pre-tax profit.

Financing activities provided Rs 28.72 lakh in the latest six months, comprising Rs 29 lakh of net borrowings less Rs 0.28 lakh of finance costs. In the corresponding prior-year half year, net cash used in financing activities was Rs 82.53 lakh. Cash and cash equivalents increased by Rs 0.07 lakh in the latest period to Rs 2.46 lakh.

What business segments does Sunraj Diamond Exports disclose?

Sunraj Diamond Exports identifies its business as trading and manufacturing in gems and precious metals, but it does not provide separate segment revenue or profit figures for those activities. The company said segment reporting under Indian Accounting Standard 108, or Ind AS 108, was not applicable in its September 30, 2026 results.

The results were unaudited and were approved by the board on November 5, 2026. The standalone limited-review report stated that nothing had come to the reviewer’s attention to suggest that the financial results failed to make the disclosures required under applicable listing regulations or contained a material misstatement.

The board also approved consolidated financial results for the quarter and half year ended September 30, 2026. The consolidated review report identifies Sunraj Diamonds DMCC as a subsidiary, while the standalone figures discussed in this report relate to Sunraj Diamond Exports alone.

Conclusion

Sunraj Diamond Exports' September 2026 standalone result marked a year-on-year reversal from a Rs 16.45 lakh profit to a Rs 6.95 lakh loss. Revenue from operations declined by Rs 23.60 lakh, and the absence of Rs 25.39 lakh of other income reduced total income more sharply than expenses, which fell by Rs 25.63 lakh.

The unresolved measures in the filing are whether revenue can move above the roughly Rs 44 lakh recorded in both the June and September 2026 quarters and whether operating cash flow can improve from the Rs 28.65 lakh first-half outflow. The company disclosed no earnings target or forward operating plan, while its stated activities remain gems and precious-metals trading and manufacturing.