Background

Flawless Diamond (India) Ltd, incorporated in 1989, is mainly engaged in manufacturing and import-export of diamonds. In 2007, through its flagship brand AUM, the company entered the branded and non-branded designer jewellery business.

Company Profile

Flawless Diamond’s business activity mainly focuses on manufacturing of rough and polished diamonds. The company also engages in import-export, and trading of diamonds. The company has an international presence and exports to countries like USA, Japan, Canada, South Africa, Belgium, and Hong Kong etc. The company also manufactures branded and non-branded diamond studded jewellery which includes rings, earrings, pendants and bracelets amongst others with over 10,000 jewellery designs. The company’s designer diamond studded jewellery brands include AUM Elegant, AUM Signature, AUM Ethereal, AUM

Solitaire, AUM Star, AUM Galaxy, AUM Exquisite and AUM Bridal. The company undertakes retail sales of its products through its 21 retail stores of which 16 were opened in FY08. The company has a jewellery manufacturing and diamond cutting plant located at Dehradun in Uttarakhand. In FY08, Flawless Diamonds tied-up with Pallazio of Danabhai Jewellers and Planet M for its branded jewellery. During the same year, in July 2008, the company also received orders from Hong Kong and Dubai for its designer diamond jewellery. For the third quarter ended Dec 09, the company reported total revenues to Rs 1.24 bn, registering a 22.42% (y-o-y) rise. For the same period, it also posted a 315.5% rise in the net profits to Rs 49 mn. The company registered a revenue of Rs 6.15 bn in FY09.