523373
Mini Diamonds(I) financials
- Market cap
- ₹100 Cr
- Sector
- Consumer Durables
What Mini Diamonds(I) does
Mini Diamonds (India) Limited manufactures, imports, exports and trades natural and lab-grown diamonds and diamond and gold jewellery. Diamond cutting and manufacturing is carried out at its facility in Vardhaman Industrial Estate, Dahisar (East), while jewellery is manufactured at a separate unit in Nitin Industrial Estate, Dahisar (East); the company's head office sits at Bharat Diamond Bourse, Bandra Kurla Complex, Mumbai. It also operates through two subsidiaries, Pyramid Gold Assaying and Hallmarking Centre Private Limited and Namra Jewels Private Limited.
Segments
- Diamond manufacturing
- Jewellery manufacturing
- Diamond trading
- Manufacturing facilities
- 2 (diamond manufacturing at Vardhaman Industrial Estate; jewellery manufacturing at Nitin Industrial Estate, Dahisar East, Mumbai)
- Head office
- Bharat Diamond Bourse, Bandra Kurla Complex, Mumbai
- Subsidiaries
- 2 (Pyramid Gold Assaying and Hallmarking Centre Pvt Ltd; Namra Jewels Pvt Ltd)
- International markets served
- Singapore, Hong Kong
- Sales channels
- Specialized sales stores for high-potential customer segments
Quarterly results
Q1 FY27: revenue up 95.4%, net profit up 50.0% against the same quarter last year.
| Line item | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 104 | 116 | 97 | 101 | 149 +44% | 167 +44% | 150 +55% | 197 +95% |
| EBITDA | 2 | 2 | -1 | 3 | 3 +41% | 4 +88% | -9 −861% | 4 +46% |
| Net profit | 2 | 2 | -3 | 2 | 3 +28% | 3 +31% | -6 −124% | 3 +50% |
How to read this
₹ crore, as filed. The percentage beside a figure is the change against the same quarter a year earlier — never the quarter before, which would make every seasonal business look like it collapses and booms each year.
Performance −97.3% 1Y
1Y: ₹160.45 on 10 Sept 2025 → ₹4.28. High ₹165.15 (17 Sept 2025), low ₹4.24 (9 Sept 2026).
Financials, as filed
Revenue grew 49.6% a year over 3 years, FY23 to FY26. Operating margin held at 0.2%.
| Year ending | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|
| Revenue | ₹170 Cr | ₹246 Cr | ₹406 Cr | ₹567 Cr |
| Operating profit | ₹1 Cr | ₹2 Cr | ₹6 Cr | ₹1 Cr |
| Operating margin | 0.7% | 1.0% | 1.4% | 0.2% |
| Interest | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹0 Cr |
| Depreciation | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹0 Cr |
| Net profit | ₹1 Cr | ₹2 Cr | ₹3 Cr | ₹1 Cr |
| Net margin | 0.3% | 0.9% | 0.8% | 0.2% |
| Cash from operations | ₹-7 Cr | ₹0 Cr | ₹-38 Cr | ₹-2 Cr |
| Free cash flow | ₹-9 Cr | ₹0 Cr | ₹-38 Cr | ₹-2 Cr |
| ROCE | — | — | 16.0% | 3.0% |
How to read this
From the company's own filings. Margins are computed from the filed sums; a year with an incomplete quarter is left blank rather than estimated.
Balance sheet
| Year ending | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|---|
| Equity capital | ₹3 Cr | ₹3 Cr | ₹3 Cr | ₹4 Cr | ₹24 Cr | ₹24 Cr |
| Reserves | ₹2 Cr | ₹2 Cr | ₹3 Cr | ₹5 Cr | ₹42 Cr | ₹40 Cr |
| Borrowings | ₹6 Cr | ₹4 Cr | ₹13 Cr | ₹15 Cr | ₹2 Cr | ₹3 Cr |
| Other liabilities | ₹41 Cr | ₹82 Cr | ₹103 Cr | ₹153 Cr | ₹141 Cr | ₹224 Cr |
| Total liabilities | ₹52 Cr | ₹92 Cr | ₹123 Cr | ₹176 Cr | ₹209 Cr | ₹291 Cr |
| Fixed assets | ₹0 Cr | ₹1 Cr | ₹3 Cr | ₹2 Cr | ₹2 Cr | ₹2 Cr |
| Capital work in progress | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹0 Cr |
| Investments | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹0 Cr |
| Other assets | ₹52 Cr | ₹92 Cr | ₹120 Cr | ₹174 Cr | ₹207 Cr | ₹289 Cr |
| Total assets | ₹52 Cr | ₹92 Cr | ₹123 Cr | ₹176 Cr | ₹209 Cr | ₹291 Cr |
How to read this
As filed each year. A line the company does not report — deposits for a non-lender, for instance — is left out rather than shown as a row of dashes.
Who owns it
As disclosed at Jun 2026
Since Jun 2025, the public added +0.23 pp while promoters trimmed −0.21 pp. The shareholder count shrank 5% to 13,068.
- Promoters
- 4.7%
- Public
- 95.3%
Since Jun 2025
- Public +0.23 pp
- Promoters −0.21 pp
How it drifted, 12 quarters
Over this window promoters fell from 35.5% to 4.7% — −30.8 pp.
Ownership split by quarter, oldest first. Sep '23: Promoters 35.5%, Public 64.5%.Dec '23: Promoters 35.5%, Public 64.5%.Mar '24: Promoters 34.6%, Public 65.4%.Jun '24: Promoters 33.9%, Public 66.1%.Sep '24: Promoters 5.1%, Public 94.9%.Dec '24: Promoters 5.1%, Public 94.9%.Mar '25: Promoters 4.9%, Public 95.0%.Jun '25: Promoters 4.9%, Public 95.0%.Sep '25: Promoters 4.9%, Public 95.1%.Dec '25: Promoters 3.0%, Public 97.0%.Mar '26: Promoters 3.1%, Public 96.9%.Jun '26: Promoters 4.7%, Public 95.3%.
Who bought this quarter
since Mar 2026
Disclosed holders that added to a position or appeared on the register for the first time, biggest addition first.
- Chandrika Kailas Shah +1.47 pp 1.47% held
- Dharmesh Kailas Shah +0.12 pp 0.20% held
The same filing shows 2 holders trimming and 0 off the list — both are in the register beside this.
Who is on the register
Named in the Jun 2026 filing
Every holder of Mini Diamonds(I) above SEBI's 1% disclosure line, and what changed since Mar 2026.
| Holder | Stake | Change |
|---|---|---|
| Shashank Pravinchandra Doshi | 8.91% | unchanged |
| Jignesh Amrutlal Thobhani | 8.91% | unchanged |
| Varshaben Jigneshkumar Thobhani | 8.91% | unchanged |
| Hetal Shashank Doshi | 8.91% | unchanged |
| Vedankit Traders Private Limited | 4.36% | unchanged |
| Gemzar Enterprises Private Limited | 4.24% | unchanged |
| Dalmia Industrial Development Limited | 4.24% | unchanged |
| Morning Vinimay Private Limited | 4.24% | unchanged |
| Sappers Infra Realtors Pvt. Ltd. | 4.24% | unchanged |
| Tripurari Deal Trade Private Limited | 4.24% | unchanged |
| Blackberry Sarees Private Limited | 4.24% | unchanged |
| Shikha Aggarwal | 3.99% | −0.25 pp |
A holder disappearing from this list has fallen below the 1% line — it is not necessarily a sale. Percentages are of total shares, as disclosed in the company's own filing. Who was buying across the market this quarter.
Learn to analyse Mini Diamonds(I)
Guides on how to read this kind of business and the numbers that matter.