Lypsa Gems & Jewellery Limited (LYPSAGEMS)
Latest quarterly results (Q4 FY26)
In its latest reported quarter, Q4 FY26, Lypsa Gems' revenue was ₹1.8 Cr (-73.1% year on year, -61.9% on the previous quarter), and net profit ₹0.3 Cr (against a loss a year earlier); the operating margin was 19.2%.
| Q4 FY26 (₹ Cr) | Value | YoY vs Q4 FY25 | QoQ |
|---|---|---|---|
| Revenue | ₹1.8 | -73.1% | -61.9% |
| Operating profit | ₹0.3 | from loss | +161.5% |
| Net profit | ₹0.3 | from loss | -72.2% |
| EPS (₹) | 0.12 | from loss | -72.1% |
| Operating margin | 19.2% | — | — |
📢 Recent Corporate Announcements
Lypsa Gems & Jewellery Limited (now Aurus Gem Corporation Limited) has filed its quarterly compliance certificate under Regulation 74(5) of SEBI (Depositories and Participants) Regulations, 2018. The Registrar and Transfer Agent, Satellite Corporate Services Private Limited, confirmed that no physical share certificates were received for dematerialization during the quarter ended June 30, 2026. This is a standard procedural filing required to ensure the reconciliation of shares held in dematerialized form. The document also confirms the company's name change to Aurus Gem Corporation Limited.
- Zero physical share certificates were received for dematerialization during the quarter ended June 30, 2026
- Compliance certificate issued by Registrar and Transfer Agent, Satellite Corporate Services Private Limited, on July 6, 2026
- The company is now operating under the name Aurus Gem Corporation Limited as per the filing
- Filing covers the reporting period from April 1, 2026, to June 30, 2026
Lypsa Gems & Jewellery Limited has announced a formal name change to Aurus Gem Corporation Limited, with its NSE trading symbol shifting from LYPSAGEMS to AURUS. This administrative change is scheduled to take effect on July 14, 2026. The company currently operates in a distressed financial state, reporting a TTM revenue of ₹17 Cr against a TTM net loss of ₹15 Cr. Investors should note that this rebranding does not immediately impact the underlying business fundamentals or the current negative operating margin of -88.2%.
- Name change to Aurus Gem Corporation Limited effective from July 14, 2026
- Trading symbol on NSE to change from LYPSAGEMS to AURUS
- Company reported a significant quarterly loss of ₹15.0 Cr in March 2025
- TTM revenue stands at ₹17 Cr with an operating margin of -88.2%
Aurus Gem Corporation Limited, formerly known as Lypsa Gems & Jewellery Limited, has announced the closure of its trading window starting July 1, 2026. This routine regulatory measure is in compliance with SEBI (Prohibition of Insider Trading) Regulations for the quarter ending June 30, 2026. The restriction applies to all promoters, directors, and designated persons until 48 hours after the financial results are declared. The date for the board meeting to approve these results will be notified separately.
- Trading window closure starts from Wednesday, July 1, 2026.
- Closure is for the purpose of declaring Unaudited Financial Results for the quarter ended June 30, 2026.
- The window will reopen 48 hours after the financial results are officially announced to the exchanges.
- Applies to all Promoters, Directors, KMPs, and their immediate relatives.
Mr. Dipan Babulal Patwa, acting on behalf of the promoter group of Lypsa Gems & Jewellery Limited, has filed a mandatory disclosure under Regulation 31(4) of SEBI (SAST) Regulations. The filing confirms that the promoters have not created any encumbrance or pledge on their shareholding, directly or indirectly, during the financial year ended March 31, 2026. This annual declaration is a standard compliance requirement to ensure transparency regarding promoter stake stability.
- Promoters declared zero encumbrance of shares for the entire financial year ending March 31, 2026.
- Compliance submitted under Regulation 31(4) of SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011.
- The disclosure was filed by Director Dipan Babulal Patwa on behalf of the entire promoter group, including Manish J Janani.
- Confirms that no promoter shares were pledged as collateral for loans during the period.
Lypsa Gems & Jewellery Limited, which has been renamed to Aurus Gem Corporation Limited, has informed the exchanges regarding the newspaper publication of its audited financial results. The results pertain to the quarter and financial year ended March 31, 2026. The advertisements were published on May 29, 2026, in Free Press Gujarat (English) and Lokmitra (Gujarati) as per SEBI regulatory requirements.
- Company has officially transitioned its name to Aurus Gem Corporation Limited.
- Publication of audited financial results for the quarter and year ended March 31, 2026.
- Compliance with Regulation 47 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
- Advertisements released in both English (Free Press Gujarat) and Regional (Lokmitra) newspapers.
Aurus Gem Corporation Limited, formerly known as Lypsa Gems & Jewellery Limited, has filed a statement under Regulation 32(1) of SEBI LODR for the quarter and year ended March 31, 2026. The company stated that it did not raise any funds through Public, Rights, or Preferential Issues during this period. As a result, there are no deviations or variations in the utilization of proceeds to report. This is a standard compliance disclosure confirming that no new capital was raised from the markets during the fiscal year.
- No Public Issue, Rights Issue, or Preferential Issue was conducted during FY 2025-26.
- Regulation 32(1) compliance is marked as not applicable due to lack of fund-raising activity.
- The report covers the specific period ending March 31, 2026.
- The entity is now operating under the name Aurus Gem Corporation Limited.
Lypsa Gems & Jewellery Limited has informed the exchanges that it received an Adjudication Order from the Securities and Exchange Board of India (SEBI) on April 17, 2026. The order was issued under Section 15-I of the SEBI Act, 1992, which pertains to the appointment of an adjudicating officer for holding inquiries and imposing penalties. While the specific details of the violation or the penalty amount were not disclosed in the filing, the company is currently reviewing the order to determine its legal strategy. This regulatory action suggests potential non-compliance issues that could impact investor sentiment.
- SEBI issued an Adjudication Order against Lypsa Gems & Jewellery on April 17, 2026.
- The order was passed under Section 15-I of the SEBI Act, 1992, and relevant 1995 inquiry rules.
- The company is in the process of reviewing the order for further legal steps.
- Specific details regarding the nature of the inquiry or penalty amounts were not provided in the summary filing.
Lypsa Gems & Jewellery Limited has submitted its Structured Digital Database (SDD) compliance certificate for the quarter ended March 31, 2026. The company confirmed that it maintains a non-tamperable internal database to track Unpublished Price Sensitive Information (UPSI) as per SEBI regulations. For the fiscal year, the company successfully captured the 1 required event in its system. This filing indicates adherence to corporate governance standards regarding the prevention of insider trading.
- Confirmed 100% compliance with SEBI (Prohibition of Insider Trading) Regulations for the quarter ended March 31, 2026
- Successfully captured 1 out of 1 required UPSI events in the Structured Digital Database during the year
- Maintains a non-tamperable internal audit trail with the capability to store records for 8 years
- Zero non-compliances observed in the previous quarter regarding digital information tracking
Lypsa Gems & Jewellery Limited has filed its quarterly compliance certificate under Regulation 74(5) of the SEBI (Depositories and Participants) Regulations, 2018. The certificate, issued by Satellite Corporate Services Private Limited, confirms that no physical share certificates were received for dematerialization during the quarter ended March 31, 2026. This filing is a standard regulatory requirement for listed companies in India to ensure the integrity of electronic shareholding records.
- Compliance certificate submitted for the quarter ended March 31, 2026.
- Registrar and Transfer Agent confirmed zero physical certificates were received for dematerialization during the period.
- The filing confirms adherence to SEBI (Depositories and Participants) Regulations, 2018.
- No changes were made to the registered owner records as no demat requests were processed.
Lypsa Gems & Jewellery Limited has notified the exchanges that its trading window will be closed starting April 1, 2026. This closure is in compliance with SEBI Insider Trading regulations for the upcoming financial results for the quarter and year ending March 31, 2026. The restriction applies to all designated persons, including promoters and directors, and will remain in effect until 48 hours after the results are declared. The specific date for the board meeting to approve these results will be announced in due course.
- Trading window closure effective from Wednesday, April 1, 2026
- Pertains to financial results for the quarter and year ended March 31, 2026
- Window to reopen 48 hours after the official declaration of financial results
- Applies to Promoters, Directors, KMPs, and all designated connected persons
Lypsa Gems & Jewellery Limited conducted a mandatory meeting of its Independent Directors on March 23, 2026, as required by SEBI (LODR) Regulations. The meeting focused on reviewing the performance of non-independent directors and the Board as a whole for the 2025-26 financial year. Additionally, the directors assessed the performance of the Chairperson and the efficiency of information flow between the company's management and the Board. This is a standard corporate governance procedure and does not involve any financial or strategic changes.
- Meeting held on March 23, 2026, pursuant to Regulation 25(3) of SEBI (LODR) Regulations, 2015.
- Independent Directors reviewed the performance of the Board and non-independent directors for FY 2025-26.
- Assessment of the quality, quantity, and timeliness of information flow from management to the Board was conducted.
- The meeting commenced at 01:00 P.M. and concluded at 03:00 P.M. at the company's registered office.
Shareholders of Lypsa Gems & Jewellery Limited have approved a name change to Aurus Gem Corporation Limited with 99.99% majority. Crucially, the company also received approval to dispose of assets under Section 180(1)(a) of the Companies Act, which typically involves selling or leasing a substantial part of the company's undertaking. Additionally, the appointment of Rajesh Pravinchandra Rajyagor as an Independent Director was confirmed. These results indicate a significant corporate restructuring or strategic shift for the company.
- Name change to Aurus Gem Corporation Limited approved with 5,534,827 votes (99.996%) in favor.
- Disposal of company assets under Section 180(1)(a) approved with 99.995% shareholder support.
- Appointment of Rajesh Pravinchandra Rajyagor as Independent Director passed with 99.978% favor.
- Total valid votes cast for the primary resolution reached over 5.53 million shares.
Lypsa Gems & Jewellery reported a significant turnaround in profitability for Q3 FY26, with Net Profit jumping to ₹126.21 Lakhs from a mere ₹1.47 Lakhs in the same quarter last year. This bottom-line growth was primarily driven by ₹119.04 Lakhs in 'Other Income' and a sharp reduction in total expenses. However, core revenue from operations saw a decline, falling to ₹463.90 Lakhs from ₹593.32 Lakhs YoY. For the nine-month period ended December 2025, the company recorded a PAT of ₹138.44 Lakhs compared to ₹10.35 Lakhs in the previous year.
- Net Profit for Q3 FY26 surged to ₹126.21 Lakhs, up from ₹1.47 Lakhs in Q3 FY25.
- Revenue from operations declined 21.8% YoY to ₹463.90 Lakhs from ₹593.32 Lakhs.
- Other Income of ₹119.04 Lakhs contributed significantly to the quarterly profit.
- Nine-month PAT reached ₹138.44 Lakhs, a massive increase from ₹10.35 Lakhs in the prior year period.
- Basic and Diluted EPS improved to ₹0.43 for the quarter from ₹0.00 YoY.
Lypsa Gems & Jewellery reported a significant jump in Net Profit to ₹126.21 Lakhs for Q3 FY26, compared to just ₹1.47 Lakhs in the same quarter last year. This bottom-line growth occurred despite a decline in revenue from operations, which fell to ₹463.90 Lakhs from ₹593.32 Lakhs YoY. The profit was heavily supported by a non-recurring 'Other Income' of ₹119.04 Lakhs and inventory adjustments. For the nine-month period ending December 2025, the company recorded a PAT of ₹138.44 Lakhs against ₹10.35 Lakhs in the previous year.
- Net Profit surged to ₹126.21 Lakhs in Q3 FY26 from ₹1.47 Lakhs in Q3 FY25.
- Revenue from operations declined 21.8% YoY to ₹463.90 Lakhs from ₹593.32 Lakhs.
- Other Income of ₹119.04 Lakhs significantly boosted the quarterly profit figures.
- Basic and Diluted EPS improved to ₹0.43 for the quarter from ₹0.00 YoY.
- Nine-month PAT stands at ₹138.44 Lakhs, a substantial increase from ₹10.35 Lakhs in 9M FY25.
Lypsa Gems & Jewellery reported a significant Net Profit of ₹126.21 Lakhs for Q3 FY26, compared to a mere ₹1.47 Lakhs in the same quarter last year. This profit growth was largely driven by ₹119.04 Lakhs in 'Other Income' and favorable inventory adjustments, rather than core business growth. Revenue from operations actually declined to ₹463.90 Lakhs from ₹593.32 Lakhs YoY. For the nine-month period ended December 2025, the company recorded a PAT of ₹138.44 Lakhs, showing a recovery from the previous year's performance.
- Net Profit jumped to ₹126.21 Lakhs in Q3 FY26 from ₹1.47 Lakhs in Q3 FY25.
- Revenue from operations declined 21.8% YoY to ₹463.90 Lakhs from ₹593.32 Lakhs.
- Profitability was heavily supported by 'Other Income' of ₹119.04 Lakhs during the quarter.
- Nine-month PAT stands at ₹138.44 Lakhs compared to ₹10.35 Lakhs in the previous year.
- Earnings Per Share (EPS) improved to ₹0.43 for the quarter from ₹0.00 YoY.
Financial Performance
Revenue Growth by Segment
Total consolidated revenue grew 30.02% YoY in Q2 FY18 to INR 83.47 Cr and 49.36% YoY in HY18 to INR 164.91 Cr. Segment-specific growth percentages for Diamond Cutting, Polished Sales, and Jewellery are not explicitly broken down, though the company is shifting focus toward higher-margin jewellery and rough trading.
Geographic Revenue Split
The company operates a Middle-eastern subsidiary and conducts global sales of polished products. While specific regional percentages are not disclosed, the Middle-eastern operations are identified as a primary focus area for future growth.
Profitability Margins
Net Profit Margin for HY18 was approximately 8.9% (INR 14.69 Cr PAT on INR 164.91 Cr revenue). Profit After Tax (PAT) grew significantly by 66.37% YoY in Q2 FY18 to INR 7.62 Cr and by 82.48% YoY in HY18 to INR 14.69 Cr.
EBITDA Margin
EBITDA margin for Q2 FY18 was 9.3%, representing a 94 bps increase YoY. On a half-yearly basis, the EBITDA margin was 9.05% for HY18, up 37 bps. Historically, the annual EBITDA margin improved from 4.7% in FY16 to 9.7% in FY17.
Capital Expenditure
Not disclosed in available documents; however, the company emphasizes investment in technology and skill for diamond cutting and polishing to maximize yield.
Credit Rating & Borrowing
ICRA has assigned a 'Simple' complexity indicator to the company's long-term and short-term fund-based/non-fund-based instruments. Specific interest rate percentages and total borrowing costs are not provided in the documents.
Operational Drivers
Raw Materials
Rough diamonds (representing the primary cost of goods sold) and gold (used for studded jewellery).
Import Sources
Rough diamonds are sourced from Belgium, Dubai, and various countries in Africa.
Key Suppliers
Sourced through diamond tenders and specialized diamond dealers in Belgium, Dubai, and Africa.
Capacity Expansion
Current focus is on producing polished goods below 0.15cts. The company is realigning its model to focus on vertical integration across the diamond pipeline, though specific MT or unit capacity figures are not disclosed.
Raw Material Costs
Total expenditure for HY18 was INR 149.97 Cr, a 48.4% increase from INR 101.03 Cr in HY17, primarily driven by rough diamond procurement to support the 49.36% revenue growth.
Manufacturing Efficiency
Efficiency is driven by the use of technology and specialized skills to obtain superior results in cutting and polishing rough diamonds to maximize yield and quality.
Logistics & Distribution
Distribution is handled through global sales channels and tie-ups with leading Indian e-commerce platforms for the jewellery segment.
Strategic Growth
Expected Growth Rate
49.36%
Growth Strategy
Growth is targeted through a vertically integrated business model across the diamond pipeline. Key strategies include realigning businesses toward a profitability-focused model, expanding the Middle-eastern subsidiary, and increasing the focus on the 'Oropel' and 'Atelier' jewellery brands through e-commerce tie-ups.
Products & Services
Polished diamonds (specifically below 0.15cts), rough diamonds (assorted and processed), and diamond-studded gold jewellery.
Brand Portfolio
Oropel, Atelier.
New Products/Services
Expansion of bespoke and e-commerce jewellery lines under 'Oropel' and 'Atelier' brands, focusing on value-added studded jewellery.
Market Expansion
Targeted growth in the Middle East through a dedicated subsidiary and expanded presence on Indian e-commerce platforms.
Strategic Alliances
The company has established tie-ups with leading Indian e-commerce platforms to distribute its jewellery brands.
External Factors
Industry Trends
The industry is shifting toward vertical integration and e-commerce distribution. Lypsa is positioning itself by moving from pure trading to value-added jewellery manufacturing and online retail.
Competitive Landscape
Competes with other diamond manufacturers and jewellery brands in India and the Middle East; differentiates through bespoke services and e-commerce presence.
Competitive Moat
The moat is built on vertical integration (rough sourcing to retail) and a focus on a specific niche (polished goods below 0.15cts). This is sustainable as it allows for higher EBITDA margins (9.7% in FY17) compared to pure trading.
Macro Economic Sensitivity
Highly sensitive to global diamond demand and gold price fluctuations. A significant rise in gold prices directly impacts the affordability of the company's jewellery products.
Consumer Behavior
Dynamic preferences of clients are driving a shift toward branded, diamond-studded jewellery sold through digital platforms.
Geopolitical Risks
Trade barriers or supply disruptions in Belgium, Dubai, or Africa could impact the procurement of rough diamonds.
Regulatory & Governance
Industry Regulations
Compliant with SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company adheres to the Sexual Harassment of Women at Workplace (Prevention, Prohibition and Redressal) Act, 2013.
Taxation Policy Impact
The company reported INR 0.0 tax for HY18 and Q2 FY18, suggesting utilization of tax credits or specific jurisdictional benefits.
Legal Contingencies
Zero complaints were filed, disposed of, or pending regarding sexual harassment in FY25. No penalties or strictures were imposed by SEBI or Stock Exchanges during the last three years (2022-2025).
Risk Analysis
Key Uncertainties
Gold price volatility (high impact on jewellery demand), fluctuations in rough diamond availability, and changes in global market preferences for diamonds.
Geographic Concentration Risk
Significant reliance on the Middle-eastern market and Indian e-commerce for retail growth; sourcing is concentrated in Belgium, Dubai, and Africa.
Third Party Dependencies
Dependency on diamond tenders and specific dealers in Belgium and Dubai for raw material supply.
Technology Obsolescence Risk
Risk of falling behind in diamond processing technology; the company mitigates this by focusing on technological implementation for superior cutting results.
Credit & Counterparty Risk
The company monitors business and operational performance through documented policies to ensure business integrity and mitigate credit risks.
