Suashish - Diamonds Are Forever

Suashish Diamonds Triples Its Net Profits In Q2 2007

Suashish Diamonds Limited, one of India’s leading diamond and diamond jewellery manufacturing and exporting groups, declared its financial results for the 2nd quarter ending 30th June 2007.

During the quarter, the company achieved a turnover of Rs.182.56 crores and tripled its PAT (profit after tax) from Rs.8.37 crores in 2006 to Rs.26.33 crores in 2007. in terms of year to date (YTD) H1, the company has also witnessed a topline growth in excess of 10% from Rs. 374.08 crores to Rs. 412.94 crores.

Ashish Goenka, Managing Director of the Suashish Diamonds said, “the company has performed exceedingly well, inspite of a marginal drop in y-o-y topline, the company continues to strengthen its bottom-line. we continue to focus on driving operational efficiencies, and enhance efforts to build our proprietary business”.

The decision of going downstream with higher focus on jewellery sales through retail chains and through its brand Ishi’s has paid rich dividends in the form of increased customer loyalty and substantially better-margins. suashish is a vendor partner to 5 out of the top 10 jewellery retailers in the world and is emerging as a leader in jewellery exports from india.

In India the local diamond jewellery segment has also grown by over 26% in 2006. the brand ‘ishi’s’ is well positioned to take advantage of growing consumer spends in the country’s changing retail environment. over the past year Ishi’s has done very well and is now available in over 130 outlets, spread across India and The Middle East.

The company is continuously investing in scaling up its operations and building infrastructure for sustainable growth.