1:5 stock split: Jewellery company bags order worth Rs 18,29,65,000 and expands jewellery portfolio with 3,750 new designs

Mini Diamonds India Limited (MDIL) has announced a significant expansion of its jewellery portfolio with the addition of 3,750 new designs across gold and silver lab-grown diamond collections. These new designs will be sold through its flagship store and online platform, Namra Jewels, as well as through its B2B partnerships. The company's expansion strategy aims to capitalise on the upcoming festive season in India and the global holiday season, with recent changes in lab-grown diamond tariffs creating a favourable environment for exports. This move is expected to support higher sales momentum and revenue from both domestic and international markets.

In a separate development, MDIL has secured a new export order worth approximately Rs 18,29,65,000 (USD 2,150,000) from a client in Hong Kong. The order is for the supply of lab-grown cut and polished diamonds. This milestone reflects the company's growing presence in international markets and its efforts to enhance export revenues. The Hong Kong contract further strengthens MDIL's foothold in a key market, positioning the company to expand its reach across the broader Far East region.

Furthermore, the company's board has approved a stock split to subdivide its equity shares. This will change the face value of each share from Rs 10 to Re 2. As a result, every one existing share will be split into five new shares. The move is subject to shareholder approval via a postal ballot, and a record date will be set after that approval is obtained.

About the Company

Mini Diamonds, a public limited company established in 1987, has a strong track record in the diamond import and export business. With its state-of-the-art manufacturing facility in Mumbai equipped with advanced technology, Mini Diamonds excels in cutting and polishing diamonds, ensuring precision and quality at every stage. The company also manufactures exquisite lab-grown diamond jewellery, catering to both domestic and international markets through B2B and B2C channels. Mini Diamonds' commitment to innovation, craftsmanship, and strategic marketing positions it as a leader in the lab-grown diamond industry, offering exceptional value and beauty to customers worldwide.

The company has a market cap of over Rs 380 crore and debtor days have improved from 186 to 139 days. The shares of the company have a PE of 130x and an ROE of 10 per cent. The stock gave multibagger returns of 780 per cent in just 2 years and a whopping 6,600 per cent in 5 years.

Disclaimer: The article is for informational purposes only and not investment advice.