SU-RAJ DIAMONDS AND JEWELLERY LIMITED
Sales rise 19 % to Rs. 1220 crore
Net Profit at Rs. 37.40 crore

                                   
Mumbai, May 9th, 2006: Su-Raj Diamonds and Jewellery, one of the leading players in Indian Gem and Jewellery industry has reported a 19% growth in net income at Rs 1,220 crore for the year ended 31st March, 2006. Net profit rose 22% to Rs 37.40 crore as against Rs 30.68 crore during the previous year.  Revenues from Jewellery business continued robust growth at 36 % to Rs 654 crore as compared to Rs 483 crore of the previous year. The Board of Directors approved the results of the Company during their meeting held at Mumbai on May 9th, 2006.

The Kolkata units for jewellery has commenced operations during the quarter.  Exports from the unit are encouraging with good response from international customers.

Mr. Jatin Mehta , CMD Su-Raj Diamonds & Jewellery, said “Our focus is mainly on the International markets and our export growth reflects our strategy in the US and the European markets which is growing steadily. We target a growth rate of 35–45% in the coming years as our jewellery export to the U.S., UK and Middle East is growing  at a higher pace. Our new unit at Kolkata will have exclusive ethnic Indian jewellery which are deeply rooted to our traditions and have a great global demand, we see a huge potential for these jewellery.”

The EPS for the period stood at Rs  9.35 as against Rs 7.67 in the last year.

The Board of Directors at their meeting held on 9th May 2006 proposed a Final Dividend (on equity shares) of 15% for the financial year ended 31st March 2006. 

For Su-Raj Diamonds & Jewellery Limited

Jatin R. Mehta
Chairman cum Managing Director

Registered Office : Kesharba Market – 2, Gotalawadi, Katargam, Surat – 395 004.