Background

Classic Diamonds (India) Ltd began operations as a partnership firm and in 1986 was incorporated with its current name. In 2000, the company launched its brand Classic Jewels and in 2003 entered the retail market by commencing Classic Jewels flagship stores. Classic Diamonds is engaged in the manufacture and export of diamonds and diamond studded jewellery.

Company Profile

Classic Diamond Ltd operates via two divisions viz diamonds and jewellery. The company also trades in fully processed diamonds. The company’s core business activity is manufacturing and polishing of diamonds and jewellery. The diamond division of the company in engaged into manufacturing and polishing of rough diamonds for sale and exports. The company exports to US, Europe and Middle East. Under the jewellery division, the company deals in diamond studded gold jewellery and markets its products under the brand Classic Jewels. Classic Diamonds has five plants of which four are located in Mumbai, Maharashtra and

one in Gujarat. In the diamond division, the plants have a combined annual installed capacity to process 204,000 carats of diamond and in the jewellery division, the plants have an installed capacity to process 850,000 grams of gold and 100,000 carats of diamonds. In Sep 2007, it entered into a JV with a UAE based jewellery retailer for selling its branded jewellery. For third quarter ended Dec 09, Classic Diamonds posted net revenues of Rs 1.76 bn, registering a 5.21% (y-o-y) decline as compared to the same quarter previous year. For the same quarter, it posted a net profit of Rs 32.05 mn as compared to the net loss of 27.29 for the same quarter previous year. The company registered a revenue of Rs 6.77 bn for FY09.