Leading precious stone dealers Starlineps Enterprise Ltd. (BSE: 540492) reported outstanding financial and operational results for the second quarter of FY25, which ended in September 2024. On a stand-alone basis, the firm declared a net profit of Rs 6.10 crore for the six months ending in September 2024 (H1FY25), a 298% increase over the Rs 1.54 crore it reported for H1FY24. Additionally, the company recorded income of Rs 41.70 crore for the half-year that ended in September 2023, which is a 225% growth above Rs 12.84 crore in Q2FY24. As of November 14, 2024, the market value of the company was Rs. 267.42 crore.
In comparison to the Q2FY24 net profit of Rs 1.22 crore, the company’s standalone net profit of Rs 3.25 crore represents a 167% growth. The company’s Q2FY25 sales of Rs 24.43 crore was a 169% jump over Q2FY24 revenue of Rs 9.07 crore. In order to conduct business as goldsmiths, silversmiths, jewellers, gem merchants, manufacturers, hires, dealers, stockists, agents, importers, and exporters of bullion, diamonds, pearls, and precious stones, jewels, precious or semi-precious metals, ornaments, and jewellery, the company recently established a wholly owned subsidiary called “Starlineps International Private Limited.”
The company has announced a 1:5 bonus issue, meaning that for every 5 (five) existing equity shares with a face value of Rs. 1 each that are completely paid up, there would be 1 (one) bonus equity shares with a face value of Rs. 1 each. A stock split from Rs. 5 to Re 1 per share was also approved by the firm, subject to a shareholders’ approval ratio of 5:1. Both corporate actions have a record date of September 25, 2024.
The firm made a strategic investment of Rs 24 lakh in Fusion Klassroom Edutech Private Limited, an EdTech platform that provides a full solution integrating online and offline learning, with the goal of diversifying and breaking into new markets. The company has also strategically invested Rs 25 lakh to acquire up to a 100-basis point equity stake in CUR8, a revenue tech platform driven by GenAI. This investment gives Starlineps access to state-of-the-art GenAI technologies and places the company in the rapidly expanding technological industry. Starlineps Enterprises Ltd. is a wholesale and retail diamond and jewellery merchant situated in Surat that was founded in 2011. The firm mainly distributes its locally sourced goods to Gujarati manufacturers, distributors, and retailers.
In addition to offering trading services for different precious metals, stones, and decorations, their product line includes jewellery and valuable stones. The market value of the firm is Rs 391 crore.
