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Flawless Diamonds



Flawless Diamonds is in the business of exporting cut and polished diamonds to the US, China, UAE and other countries.

The company has not reported significant revenue growth in the last five years and operating profits have been somewhat erratic.  It reported 6cr of operating profits on revenues of about 400cr in the last financial year.  It operated with a relatively high debt load of about 60cr (as at 31st March, 2010).

It is exposed to demand drops during economic downturns due to the discretionary nature of its products, adverse foreign exchange movements impacting its export revenues, interest rate risks impacting its debts and other related risks.

Management haven’t declared dividends since the 2008 financial crisis and appear unlikely to reinstate them in the near future due to recent quarterly losses.
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