Sovereign Diamonds Ltd — Board Meeting, 27-05-2025: Board Meeting

MANUFACTURERS OF 18K FINE JEWELLERY

To,

The Department of Corporate Services,

BSE Limited,

Phiroze Jeejeebhoy Towers,

Dalal Street, Mumbai -400 001

SUB: OUTCOME OF BOARD MEETING

Date: 27th May, 2025

Scrip Code: 523826

REF: REGULATION 33 (3) & 30 OF THE SEBI (LODR) REGULA TIO NS, 2015

Dear Sir I Madam,

The Board Meeting of the Company was held on 27th May, 2025. The Board of Directors at their Board

Meeting have approved the following:

a. Approved and taken on record the Audited Annual Financial Results for the quarter and financial year

ended 31st March, 2025.

Please find enclosed herewith the following:

1. Audited Annual Financial Results for the quarter and financial year ended 31st March, 2025.

2. Statement of Assets and Liabilities as on 31st March, 2025.

3. Cash Flow Statement for the financial year ended 31st March, 2025.

4. Audit Report for the financial year ended 31st March, 2025.

The information and papers are being filed pursuant to Regulation 33(3) and 30 of the SEBI (LODR)

Regulations, 2015.

The Meeting of the Board of Directors commenced at 3.00 p.m. and concluded at 4.30 p.m.

Please take the aforesaid on your records and acknowledge the receipt.

Thanking You,

Yours Faithfully,

FOR SOVEREIGN DI ONDS LIMITED

:

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.

JAY GEH 09 •(/

/ MANAGING DIRECTOR

Encl: As Above

Regd. Office: Sovereign House, 11-A, Mahal Ind. Estate, Mahakali Caves Road, Andheri (E), Mumbai 400 093, India.

CIN No. L36912MH1974PLC017505 0 GST No. 27AAACS8558C1Z9

Email : (Sales) -sovereignjewellery@hotmail.com *(Accounts)-accountssovereign@hotmail.com

Tel.: 9122-49795491/92 -49744006.

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MANUFACTURERS OF 18K FINE JEWELLERY

Statement of Audited Financial Results for the Quarter and Year Ended 31st March, 2025

In Lakhs

Quarter Ended Year Ended Particulars

31-03-2025 31-12-2024 31-03-2024 31-03-2025

(Audited} (Unaudited} {Audited} {Aud1tedl

1. Income from Operations

(a) Net Sales/ Income from Operations 390.62 1154.96 771.19 1997.21

l(b) Other Operating Income 45.05 70.15 35.52 149.41

Total Income (net) 435.67 1225.11 806.70 2146.62

2.Expenses

(a) Co$t of Materials Consumed 259.86 882.42 337.63 1130.84

(b) Changes 1n inventories of finished goods and work-in·

progress 18.24 -1.33 252.94 379.28

(c) Employee benefits expense 49.29 110.31 52.20 210.65

(d) Fin<ince Costs 26.30 60.14 36.87 119.62

(e) Depreciation and amortisation expense 12.36 25.37 12.63 49.77

(f) Other expenses 71.86 130.47 87.20 243.73

Total Expenses 437.90 1207.39 779.45 2133.89

3. Profit/ (Loss) from ordinary activities before -2.23 17.72 27.25 12.73

exceptional items (1-2)

4. Exceptional Items 0.00 0.00 o.oo 0.00

5. Profit/ (Loss) from ordinary activities before tax

[(3+4) -2.23 17.72 27.25 12.73

6. Tax Expense

a) Current Tax 9.46 3.74 6.81 9.46

bl Deferred Tax 0.89 3.83 ·12.70 2.01

7. Net Profit/ (Loss)Jrom ordinary activities after

tax (5-6) (12.58] 10.15 33.15 1.26

8. Extraordinary items 0.00 0.00 0.00 0.00

9. Net Profit/ {Loss) for the period (7+8) (12.58) 10.15 33.15 1.26

10. Other Comprehensive Income (OCI)

A) (i) Items that will not be Reclassified to Profit 0.00 0.00 0.00

Or Loss 0.00

Remeasurement of post-employment benefit obligations 1.44 1.20 0.32 0.26

(ii) Income Tax Relating To Items That Will Not 0.50 -0.67 0.00

Be Reclassified to Profit of Loss 0.50

Remeasurement of post-employment benefit obligations 0.00 0.00 0.00 0.00

B) (i) Items that will Be Reclassifies to Profit Or Los 0.00 0.00 0.00 0.00

(ii) Income Tax Relating To Items That Will Not / 0.00 0.00 0.00

Be Reclassified to Profit of Loss / 0.00

Total Other Comprehensive Income / l.94 0.53 0.32 0.76

11. Total Comprehensive pid [(9+10)

(10.64) 10.68 33.46 2.02

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'\ill 'Jb1J2:/

Regd. Office: Sovereign House, 11-A, Mahal Ind. Estate, Mahakali Caves Road Andheri (E) Mumbai 400 093 India

. CIN No. L36912MH1974PLC017505 D GST No. 27MACS8558C1Z9 ' .

Email: (Sales)-sovereignjewellery@hotmail.com *(Accounts)-accountssovereign@hotmail.com

Tel.: 9122-49795491/92 -49744006.

31-03-2024

(Audited)

2709.34

133.04

2842.38

16'11.62

363.85

209.43

131.71

49.64

278.14

2674.39

167.99

0.00

167.99

42.00

(12.01'

138.00

0.00

138.00

.

(2.23)

(0.56)

-

-

.

(2.79)

135.21

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MANUFACTURERS OF 18K FINE JEWELLERY

12. Paid-up Equity Share Capital, Equity Shares of

UO/-each 578.80 578.80 S78.80 578.80 578.80

13.i.Earnings per Share (Before Extraordinary

items 10 each) (Not Annualised):

a) Basic (0.22) 0.18 0.57 0.02 2.38

b) Diluted (0.22) 0.18 0.57 0.02 2.38

13.ii. Earnings per Share (After Extraordinary

items 10 each) (Not Annualised):

a) Basic (0.22) 0.18 0.57 0.02 2.38

b) Diluted (0.22) 0.18 0.57 0.02 2.38

See accompanying note to the financial results

NOTES

1 The above results as reviewed by the Audit Committee nave been approved at the meeting of the Board of Directors held on 27th

May, 2025.

2 Tite Company operates 1n single segment namely "Gold and Diamond studded Jewellery"

3 The figures of last quarter are the balancing figures between audited figures in respect of the full financial year and the published

year-to-date figures upto the third quarter of the respea1ve financial year.

4 Figures of the previous year/quarter are regrouped wherever necessary

5 The Statutory auditors have expressed an unmodified audit op1n1on. /

6 The figures 1n Lakhs are rounded off to two decimals. /

DI on,0im1ted

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..... --i.

Place: Mumbai Mr. Ajay R. Gj

Date : 27th May, 2025

(Managing _

--

Regd. Office: Sovereign House, 11-A, Mahal Ind. Estate, Mahakali Caves Road, Andheri (E), Mumbai 400 093, India

. CIN No. L36912MH1974PLC017505 0 GST No. 27AAACS8558C1Z9 .

Emall: (Sales)-sovereignjewellery@hotmail.com *(Accounts)-accountssovereign@hotmail.com

Tel.: 9122-49795491/92 -49744006.

----------............................... ________ ___J.

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I

MANUFACTURERS OF 18K FINE JEWELLERY

Audited Financial statements as at and for the year ended 31st March, 2025

Lakhs

Particulars As at As at 31st March, 2025 31st March, 2024

A Assets

1 Non-current assets

a) Property, plant and equipment 321.52 352.85

b) Capital Work-in-progress --

c) Investment Property 59.24 61.32

d) Financial assets --

i) Security Deposit 5.75 6.50

e) Deferred tax assets (net) 18.59 20.10

f) Other non current assets 1.13 1.13

Total non-current assets 406.22 441.90

2 Current assets

a) Inventories 1,720.02 1,733.59

b) Financial assets

i) Trade Receivables 609.74 937.62

ii) Cash and cash equivalents 1.47 2.66

iii) Loans 1.00 0.72

c) Current Tax Assets (Net) 15.23 8.95

d) Other current assets 20.28 11.70

Total current assets 2,367.74 2,695.23

Total Assets 2,773.96 3,137.13

B Equity and Liabilities

1 Equity

a) Equity Share capital 578.80 578.80

b) Other Equity 1,126.84 1,109.49

Total Equity 1,705.64 1,688.29

Liaiblities

2 Non-current liabilities

a) Financial L1a1bilt1es

i) Borrowings -3.66

ii) Other Financial Liabilities 48.91 24.79

b) Provision 0.01 0.12

Total non-current liabilities 48.92 28.57

3 Current Liabilities

a) Financial Liaibilties

i) Borrowings 889.68 1,148.90

i1) Trade payables -

A) Total outstanding dues of micro enterprises and small

enterprises -22.03

b) Total outstanding dues of creditors other than micro

enterprises and small enterprises 110.87 187.34

iii) Other Financial Liabilities -17.48

b) Other current liab1ht1es 18.74 43.28

c) Provisions 0.10 / 1.24

Total current liabilities 1,019.39 / 1,420.26

Total Equity and Liaibilites 2,773.96 / 3,137.13

'.-/. &

MUMBAI

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Place : Mumbai jay R. i "-

(Managing Di

·o>·'/

Date : 27th May, 2025 ---

Regd. Office : Sovereign House. 11-A, Mahal Ind. Estate, Mahakali Caves Road, Andheri (E), Mumbai 400 093, India.

CIN No. L36912MH1974PLC017505 0 GST No. 27AAACS8558C1Z9

Email : (Sales} -sovereignjewellery@hotmail.com *(Accounts)-accountssovereign@hotmail.com

Tel.: 9122-49795491192 -49744006.

--11

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I

MANUFACTURERS OF 18K FINE JEWELLERY

CASH FLOW STATEMENT FOR THE YEAR ENDED 31'1 MARCH, 2025

Lakhs

Particulars As at 3151 March, 2025 As at 31'1 March, 2024

A Cash flow from operating activities ·

Net Profit before tax and Extra-ordinary items

Adjustment for :

Depreciation and amortization for the year

Finance cost

Impairment Loss Recognised/ (reversed) under expected credit los

Net (profit)/loss on disposal of property. plant and equipment

Assets Written-off

Non-Operating Income

Non Cash Expense

Non Cash Income

Operating Profit before working capital changes

Operating profit before working capital changes

Adjustments for:

Inventories

Non current financial assets

current financial assets

Other current assets

Trade receivables

Trade payables

Other Non-Current financial liabilities

Other Current Financial liabilities

Provisions-non current

Provisions-current

Other current laib1lites

Cash generated from operating activities

Less · Income Tax Paid (Net of Refund)

Net cash generated from operating activities

B Cash flow from investing activities:

Purchase of property, plant and equipment

Proceeds from disposal of property, plant and equipment

Loan Given

Interest received

Rent Received

Net cash used in investing activities

12.73

49.77

119.62

18.78 -

.

(142.35)

1.90

(7.06)

53.39

13.57

0.75

-

(0.08)

309.10

(98.50)

20.86

(19.40)

(0.11)

(2.77)

(6.91)

269.90

(15.74)

254.16

(16.36)

-

(0.29)

0.04

138.56

121.96

Regd. Office: Sovereign House, 11-A. Mahal Ind. Estate, Mahakali Caves Road, Andheri {E), Mumbai 400 093, India.

CIN No. L36912MH1974PLC017505 0 GST No. 27AAACS8558C1Z9

Email: (Sales)-sovereignjewellery@hotmail.com *(Accounts)-accountssovereign@hotmail.com

Tel.: 9122-49795491/92 -49744006.

167.99

49.64

131.71

-

.

0.44

(133.18)

-

216.60

149.11

(l.10)

0.74

(12.77)

(111.56)

(37.27)

(8.21)

(7.18)

(0.02)

1.42

189.75

(49.41)

140.35

(55.65)

-

-

0.03

153.51

97.89

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c

Note:

i)

ii)

Place:

Date :

I

MANUFACTURERS OF 18K FINE JEWELLERY

Cash flow from financing activities:

Repayment or non current borrowings (3.66) (36.54)

Repayment of current borro"" in gs (259.21) (76.35)

Proceeds of current borrowing --

Interest Paid (114.43) (126.42)

Net cash generated from financing activities (377.31} (239.30}

Net increase in cash and cash equivalents (A+B+C) (1.20} (1.07}

Cash and cash equivalents at the beginning of the year 2.66 3.73

Cash and cash equivalents at the end of the year 1.47 2.66

Com1;1onents of Cash and Cash Eguivalents

Balance with Bank

-In Current Account 1.23 2.33

Cash on Hand 0.24 0.34

1.47 2.66

Change in Liability :irising from Financing cth ilics

LI April. lS Cash FIO\\ 31st 1\1 a rcl1, 24

Borrowing \.,011-Curren1 3.66 (3.66) -

Borrowing Curren! 1148.90 (259.21) 889.68

1st April. 2-t Cash Flow 31st larch, 23

Borrowing 'Ion-Current 40.20 (36.54)

Borrowing C'urre111 1225.25 (76.35)

Figures in bracket represent cash outflow.

The cash flow statement has been prepared under the ind rect method as set out in Indian

Standard (Ind AS 7) statement of cash flows.

Mumbai

27th May, 2025

'Ai•V"'td

(Managing .{

................... / --

Regd. Office: Sovereign House, 11-A, Mahal Ind. Estate, Mahakali Caves Road, Andheri (E}, Mumbai 400 093, India.

CIN No. L36912MH1974PLC017505 0 GST No. 27AAACS8558C1Z9

Email : (Sales)-sovereignjewellery@hotma1l.com *(Accounts)-accountssovereign@hotmail.com

Tel.: 9122-49795491/92 -49744006.

3.66

1,148.90

----------------Page (5) Break----------------

<A

IND I A

J. D. Zatakia & Co.

CHARTERED ACCOUNTANTS

.Jitendra D. Zatakia B.Com .• F.C.A.

Independent Auditor's Report on the Quarterly and Year to Date Standalone Audited

Financial Results of SOVEREIGN DIAMONDS LIMITED Pursuant to Regulation 33 of the

Securities and Exchange Board of India (Listing Obligations and Disclosure

Requirements) Regulations, 2015, as amended.

To,

The Board of Directors,

SOVEREIGN DIAMONDS LIMITED,

Report on the Audit of Annual Financial Results

Opinion

We have audited the accompanying statement of standalone financial results of

SOVEREIGN DIAMONDS LIMITED (the company) for the, Quarter and year ended March 31,

2025 ("the Statement"), attached herewith, being submitted by the Company pursuant to

the requirement of Regulation 33 of the SEBI (Listing Obligations and Disclosure

Requirements) Regulations, 2015, as amended (the "Listing Regulations").

In our opinion and to the best of our information and according to the explanations given

to us, these standalone financial results:

(i) are presented in accordance with requirements of Regulation 33 of the SEBI (Listing

Obligations and Disclosure Requirements) Regulations, 2015, as amended in this

regard; and

(ii) gives a true and fair view in conformity with the recognition and measurement

principles laid down in the applicable Indian Accounting Standards ("Ind AS") and

other accounting principles generally accepted in India, of the net (loss) profit and

other comprehensive income and other financial information of the Company for the

quarter and the year ended March 31, 2025.

Basts for Opinion

We conducted our audit in accordance with the Standards on Auditing ("SAs") specified

under section 143(10) of the Companies Act, 2013 ("the Act"). Our responsibilities under

those Standards are further described in the Auditor's Responsibilities for the Audit of the

Standalone Financial Results section of our report. We are independent of the Company in

accordance with the Code of Ethics issued by the Institute of Chartered Accountants of

India ("ICAI") together with the ethical requirements that are relevant to our audit of the

standalone financial results under the provisions of the Act and the Rules there under, and

we have fulfilled our other ethical responsibilities in accordance with these requirements

and the Code of Ethics issued by ICAI. We believe that the audit evidence we have

obtained is sufficient and appropriate to provide a basis for our opinion.

306, Ru pa Plaza, Jawahar Road,

Ghatkopar (E), Mumbai -400 077.

©: +91 -22 -25011051

+91 -22 -25010052

• 98201 22976

· , jdzatakia@jdzatakia.com

----------------Page (6) Break----------------

CA

IND I A

J. D. Zatakia & Co.

CHARTERED ACCOUNTANTS

.Jitcndna D. Zatakia B.Com .• F.C.A.

Management's Responsibilities for the Standalone Financial Results

These standalone financial results have been prepared on the basis of the standalone

annual financial statements. The Company's Management and the Board of Directors of

the Company are responsible for the preparation and presentation of these standalone

financial results that give a true and fair view of the net profit/loss and other

comprehensive income and other financial information in accordance with the recognition

and measurement principles laid down in Indian Accounting Standards ("Ind AS")

prescribed under section 133 of the Act, read with the relevant rules issued thereunder

and other accounting principles generally accepted in India and in compliance with

Regulation 33 of the Listing Regulations. This responsibility also includes maintenance of

adequate accounting records in accordance with the provisions of the Act for safeguarding

of the assets of the Company and for preventing and detecting frauds and other

irregularities; selection and application of appropriate accounting policies; making

judgments and estimates that are reasonable and prudent; and design, implementation

and maintenance of adequate internal financial controls, that were operating eff ectlvely

for ensuring the accuracy and completeness of the accounting records, relevant to the

preparation and presentation of the standalone financial results that give a true and fair

view and are free from material misstatement, whether due to fraud or error.

In preparing the standalone financial results, the Management and the Board of Directors

are responsible for assessing the Company's ability, to continue as a going concern,

disclosing, as applicable, matters related to going concern and using the going concern

basis of accounting unless the Board of Directors either intends to liquidate the Company

or to cease operations, or has no realistic alternative but to do so.

The Board of Directors are also responsible for overseeing the Company's financial

reporting process.

Auditor's Responsibilities for the Audit of the Standalone Financial Results

Our objectives are to obtain reasonable assurance about whether the standalone financial

results as a whole are free from material misstatement, whether due to fraud or error,

and to issue an auditor's report that includes our opinion. Reasonable assurance is a high

level of assurance, but is not a guarantee that an audit conducted in accordance with SAs

will always detect a material misstatement when it exists. Misstatements can arise from

fraud or error and are considered material if, Individually or in the aggregate, they could

reasonably be expected to influence the economic decisions of users taken on the basis of

these standalone financial results.

As part of an audit in accordance with SAs, we exercise professional judgment and

maintain professional skepticism throughout the audit. We also:

• Identify and assess the risks of material misstatement of the standalone financial

results, whether due to fraud or error, design and perform audit procedures

responsive to those risks, and obtain audit evidence that is sufficient and

appropriate to provide a basis for our opinion. The risk of not detecting a material

misstatement resulting from fraud is higher than for one resulting from error, as

fraud may involve collusion, forgery, intentional omissions, misrepresentations, or

the override of internal control;

... 3 ...

306, Ru pa Plaza, Jawahar Road,

Ghatkopar (E), Mumbai -400 077.

<. : +91 -22 -25011051

+91 -22 -25010052

.• 98201 22976

J jdzatakia@jdzatakia.com

----------------Page (7) Break----------------

IND I A

J. D. Zatakia & Co.

CHARTERED ACCOUNTANTS

.Jitendra D. l.ata"-ia B.Com .• F.C.A.

• Obtain an understanding of internal control relevant to the audit in order to design

audit procedures that are appropriate in the circumstances. Under Section 143(3)

(i) of the Act, we are also responsible for expressing our opinion through a separate

report on the complete set of standalone financial statements on whether the

company has adequate internal financial controls with reference to standalone

financial statements in place and the operating effectiveness of such controls;

• Evaluate the appropriateness of accounting policies used and the reasonableness of

accounting estimates and related disclosures made by the Management and the

Board of Directors;

• Conclude on the appropriateness of the Management and the Board of Directors'

use of the going concern basis of accounting and, based on the audit evidence

obtained, whether a material uncertainty exists related to events or conditions

that may cast significant doubt on the Company's ability to continue as a going

concern. If we conclude that a material uncertainty exists, we are required to

draw attention in our auditor's report to the related disclosures in the standalone

financial results or, if such disclosures are inadequate, to modify our opinion. Our

conclusions are based on the audit evidence obtained up to the date of our

auditor's report. However, future events or conditions may cause the Company to

cease to continue as a going concern;

• Evaluate the overall presentation, structure and content of these standalone

financial results, including the disclosures, and whether the standalone financial

results represent the underlying transactions and events in a manner that achieves

fair presentation.

We communicate with those charged with governance of the Company regarding, among

other matters, the planned scope and timing of the audit and significant audit findings,

including any significant deficiencies in internal control that we identify during our audit.

We also provide those charged with governance with a statement that we have complied

with relevant ethical requirements regarding independence, and to communicate with

them all relationships and other matters that may reasonably be thought to bear on our

independence, and where applicable, related safeguards.

Other Matter

The Statement includes the results for the quarter ended March 31, 2025 being the

balancing figures between the audited figures in respect of the full financial year ended

March 31, 2025 and the published unaudited year to date figures up to the third quarter of

the current financial year, which were subject to limited review by us, as required under

the Listing Regulations.

Place: Mumbai.

Date: 2P' May, 2025

306, Ru pa Plaza, jawahar Road,

Ghatkopar (E), Mumbai -400 077.

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FOR J.D. ZATAKIA ft COMPANY

CHARTERED ACCOUNTANTS

FIRM REGN.N0.111777W ,7 /c?

jt't{ IC<-

J. D. ZATAKIA-PROPRIETOR

MEMBERSHIP NO. 17669

UDIN:25017669BMJABG7546

<<.. : +91 -22 -25011051

+91 -22 -25010052

.• 98201 22976

Jdzatakia@Jdzatakia.com

----------------Page (8) Break----------------

MANUFACTURERS OF 18K FINE JEWELLERY

To,

The Department of Corporate Services,

BSE Limited,

Phiroze Jeejeebhoy Towers,

Dalal Street, Mumbai -400 001

Date: 2ih May, 2025

Scrip Code: 523826

SUB: DECLARATION IN RESPECT OF UNMODIFIED OPINION ON AUDITED FINANCIAL

RESULTS FOR THE FINANCIAL YEAR ENDED 3151MARCH,2025

Dear Sir I Madam,

In terms of SEBI Circular CIR/CFD/CMD/56/2016 dated 27th May 2016, we hereby declare and confirm

that the Statutory Auditors of the Company Mis. J D Zatakia & Co., Chartered Accountants, have issued

an Unmodified Audit Report on Audited Annual Financial Results of the Company for the financial year

ended 31st March, 2025.

Kindly disseminate the information on the official website of the Exchange for the information of all

Members of the Exchange and Investors.

Thanking You,

Yours Faithfully,

FOR SOVEREIGN D ONDS LIMITED .

0

MUMBAI o flijj

AJAY GEHANI

MANAGING DIRECTOR

Regd. Office : Sovereign House, 11-A, Mahal Ind. Estate, Mahakali Caves Road, Andheri (E), Mumbai 400 093, India.

CIN No. L36912MH1974PLC017505 0 GST No. 27AAACS8558C1Z9

Email: (Sales)-sovereignjewellery@hotmail.com *(Accounts)-accountssovereign@hotmail.com

Tel.: 9122-49795491/92 -49744006. II

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