What we do Goenka Diamond & Jewels Ltd specializes in cutting, polishing diamonds, and manufacturing and retailing diamond jewelry. It serves wholesalers, manufacturers, and retailers globally with quality products. |
Founded in 1,990 |
Market share Not a market leader; facing financial challenges and undergoing insolvency proceedings. |
Problem solved Provides polished diamonds and unique jewelry products to meet quality and market demand in luxury and youth segments. |
Top clients or who we serve B2B and B2C clients including wholesalers, jewelry manufacturers, traders, and retail customers mainly in India, Hong Kong, Southeast Asia, and USA. |
Key management - |
Our journey and innovations Established in 1990; expanded from stone export to cutting and polishing diamonds, launched 'Ceres' and 'G-Wild' jewelry brands, and entered retail with exclusive stores. |
Where we operate India (Surat, Mumbai), Russia, and export markets including Hong Kong, Southeast Asia, USA. |
Top products or what we offer Polished diamonds, diamond-studded jewelry such as rings, earrings, pendants, bracelets, and necklaces targeting luxury and youth segments. |
Top brands Ceres - luxury jewelry brand; G-Wild - youth-focused brand with exclusive stores. |
Raw materials needed Rough diamonds, precious and semi-precious stones, gold. |
Raw materials supplier Procures rough diamonds locally and from auctions, including Russian auctions. |
Recurring vs cyclical contribution Revenue largely cyclical, influenced by diamond and jewelry market demand and exports. |
Our industry position Mid-tier player with a strong manufacturing base but challenged by liquidity and insolvency issues. |
Financial highlights FY 2023-24 revenue Rs 0.64 crore; net loss Rs 2.85 crore; operations impacted by financial distress. |
Geographical revenue split Primary revenues from domestic market; limited exports due to current financial conditions. |
Order book - |
Whats driving growth Historical growth driven by brand launches and facility expansions; current growth constrained by insolvency and liquidity issues. |
Our future plans No specific expansion plans disclosed; undergoing insolvency resolution process under NCLT supervision. |
Our green promise Adopts electronic reporting to support green initiatives; no formal ESG disclosures. |
Our people and values Has internal controls and whistleblower mechanisms; current operations under Insolvency Resolution Professional. |
Key challenges ahead Liquidity crunch, outstanding debts, ongoing insolvency proceedings, and operational disruptions pose major risks. |
Interesting facts First Indian diamond company to launch youth-focused brand 'G-Wild' and luxury brand 'Ceres'. |
Risks and strategy Facing risks from creditor actions and liquidity issues; strategy focuses on insolvency resolution and legal recovery of receivables. |
