The shares of the diamond manufacturer hit 2 percent upper circuit at Rs 129.00 apiece after the company received a prestigious order for 2,000 pieces of lab-grown diamond.
With a market capitalization of Rs 46.01 crore, the shares of Mini Diamonds (India) Ltd were trading at Rs 128.90 per share, increasing around 1.9 percent as compared to the previous closing price of Rs 126.50 apiece.
Reason for Rise:-
According to the company filing, Mini Diamonds (India) Ltd has secured a prestigious order for 2,000 pieces of lab-grown diamond studded 14KT gold jewellery from Parasmani Inc., a Canada-based wholesale jewellery company.
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Moreover, this strategic collaboration between MDIL and Parasmani Inc. is set to strengthen MDIL’s presence in the North American market. The order highlights the growing demand for eco-friendly and sustainable lab-grown diamonds in the global jewellery industry.
Financial Condition:-
Examining the company’s financial performance, revenue increased by 266 percent from Rs 24.32 crore in Q1FY24 to Rs 89.13 crore in Q1FY25, but during the same time frame, net profit increased by 1200 percent from Rs 0.14 crore to Rs 1.84 crore.
Remarkable return:-
The stock has given a multi-bagger return of 337.99 percent in 6 months and a 600.54 percent return in a year. If an individual invested Rs 1 lakh a year ago, it would be worth now Rs 7.00 lakh.
Export Market:-
Mini Diamonds exports its products to a diverse range of international markets, including the USA, Malaysia, Belgium, Germany, Hong Kong, Thailand, Dubai, Canada, and Israel.
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Ratio analysis:-
The company’s critical ratios show that the return on equity zoomed from 8.93 percent in FY22-23 to 18.77 percent in FY23-24, while the return on capital employed magnified from 11.26 percent to 26.83 percent. The net profit margin (NPM) for fiscal year 23-24 is 0.61 percent.
About the company
Mini Diamonds (India) engages in the manufacture and trade of diamonds. Product Profile: The company manufactures and trades raw diamonds, as well as cut and polished diamonds.
Written by:- Abhishek Singh
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