Sustained Solitaire Demand Weakness
Large carat solitaire demand remains under pressure due to price uncertainty, impacting studded mix and margins.
Titan · Material risks, their source context, and severity in the latest available quarter.
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Risk intelligence
Large carat solitaire demand remains under pressure due to price uncertainty, impacting studded mix and margins.
Local and national players offered aggressive gold price discounts during festive season, potentially pressuring margins.
Growing LGD adoption could erode natural diamond demand, especially in lower price points; management remains non-committal on entry.
Additional inventory loss of ~INR 280cr expected in Q3 from customs duty cut, impacting reported margins.