India's Richest People 2026 edition · 1 director · Source: Hurun India
- #561 Ashish R. Goenka & family ₹6,000 Cr
Revenue · FY 2025
₹981.24 Cr
▼ 21% YoY
Net profit · FY 2025
₹325.21 Cr
Net margin 33.1%
EBITDA · FY 2025
₹403.39 Cr
EBITDA margin 41.1%
Authorised capital
₹45 Cr
Registered with MCA
Paid-up capital
₹20.77 Cr
Issued & subscribed
Satisfied charges
₹892.79 Cr
No open charges
Company age
38 yrs
Est. 1988
Employees · EPFO
728
Provident fund records
About Suashish Diamonds Limited
Data last updated:
Suashish Diamonds Limited is a public limited company based in Borivlai East, Maharashtra, India. It operates in the watches and jewelry manufacturing segment of the consumer goods sector. It was incorporated on 05 October 1988 and has been in existence for over 38 years.
Its director Ashish R. Goenka and family are #561 among India's richest people (2026).
The company is registered with the Registrar of Companies (ROC), Mumbai, under CIN U36900MH1988PLC049085. Its GSTIN is 27AAACS8246H1Z6 (Maharashtra). The company holds 5 GST registrations, of which 3 are active.
The company has an authorised share capital of ₹45 Cr and a paid-up capital of ₹20.77 Cr. It is led by directors including Rajeshkumar Radhakishan Kedia (Whole-Time Director) and Vipul Amul Desai.
Its last annual general meeting (AGM) was held on 30 September 2025, and its latest financial statements are for the year ended 31 March 2025. The registered office is at 5th Floor B Wing Suashish IT Park, Borivlai East, Maharashtra.
As per the financials filed for FY 2025, the company reported a revenue of ₹981.24 Cr, a decline of 21% compared to the previous year. For the same year it recorded a net profit of ₹325.21 Cr (net margin 33.1%) and EBITDA of ₹403.39 Cr (EBITDA margin 41.1%). Revenue has grown at a compounded annual rate (CAGR) of 7% over three years and 8% over five years.
The company has about 728 employees on its provident fund (EPFO) records.
The company is associated with 2 brands: Radiant Bay and Suashish. As per MCA filings, the company has satisfied charges of ₹892.79 Cr on record. Court records list 9 cases involving the company, including 3 filed by the company and 6 filed against it. The company has 7 deals on record (4 market trades, 2 secondary share transfers, 1 funding round), with disclosed funding of ₹16.2 Lakh; the latest was in March 2019. Its 7 peer companies in the Consumer Products industry (Watches and Jewellery Manufacturers), with the same principal business activity (other manufacturing including jewellery, musical instruments, medical instruments, sports goods, etc. activities) are compared by revenue, 3 larger and 4 smaller; the largest is Anjali Jewellers Pvt.Ltd. with revenue of ₹1,003.91 Cr.
The current compliance status is marked as compliant by the Registrar of Companies. For more details, the company can be reached via its website suashish.com.
Company details
CIN U36900MH1988PLC049085
Registration Number 049085
Incorporation Date 05 October 1988
ROC Mumbai
Listing Status Unlisted
Company Status Active
Date of Last AGM 30 September 2025
Date of Balance Sheet 31 March 2025
Compliance Status Active Compliant
CIN history
Suashish Diamonds has one previous CIN (Corporate Identification Number): L36900MH1988PLC049085. The current CIN is U36900MH1988PLC049085, which is the unique identifier assigned by the Registrar of Companies.
| CIN | Status |
|---|---|
| U36900MH1988PLC049085 | Current |
| L36900MH1988PLC049085 | Previous |
Key People
Rajeshkumar Radhakishan Kedia Whole-Time Director Vipul Amul Desai Director Ashish Rameshkumar Goenka Director Recognitions & Rankings of Suashish Diamonds
Contact details
Suashish Diamonds Limited's registered office is in Borivlai East, Maharashtra. Its website is suashish.com. Its e-mail address and telephone number are in the company report.
- Email
- Telephone
- Website
- Social Media
- Registered Address5th Floor B Wing Suashish IT Park Cts No 68/E, Off Dattapada Road Rajendra Nagar Opp. Tata Steel Co Borivali East, Borivlai East, Maharashtra, India – 400066
- IndustryConsumer Goods, Watches & Jewelry Manufacturing
To see the full contact details of Suashish Diamonds Limited, buy the company report.
Comprehensive company report
Suashish Diamonds Limited - one report that includes everything
- Company details, directors and signatories
- Historical financials and ratios
- Shareholding pattern and group structure
- Charges with holder and property details
- Legal cases, compliance and MCA filings
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Brands
Suashish Diamonds operates two associated brands: Radiant Bay and Suashish. Each brand links to its own profile.
| Brand | Description | Website |
|---|---|---|
| Specializes in an online platform for diamond jewelry sales and related products. | radiantbay.com | |
| Conglomerate involved in Jewellery trading, realestate & investments in private startups | suashish.com |
Business activity
The main business activities of Suashish Diamonds are manufacturing and electricity, gas, steam and air condition supply. In detail, this covers other manufacturing including jewellery, musical instruments, medical instruments, sports goods, etc. activities and electric power generation, transmission and distribution. 2 activity segments are registered with the MCA.
| Main activity group code | Main activity | Business activity code | Business activity | Share of turnover |
|---|---|---|---|---|
| C | Manufacturing | C13 | Other manufacturing including jewellery, musical instruments, medical instruments, sports goods, etc. activities | |
| D | Electricity, gas, steam and air condition supply | D1 | Electric power generation, transmission and distribution |
To see the full business activity and turnover split of Suashish Diamonds Limited, buy the company report.
Financials of Suashish Diamonds Limited
FY 2025 filings availableSuashish Diamonds Limited reported revenue of ₹981.24 Cr (down 21% YoY) for FY 2025.
Revenue · FY 2025
₹981.24 Cr ▼ 21%
Net profit · FY 2025
₹325.21 Cr margin 33.1%
EBITDA · FY 2025
₹403.39 Cr margin 41.1%
Compounded Annual Growth Rate (CAGR)
Revenue CAGR growth
1 year
▼ 21%
3 years · compounded
▼ 7%
5 years · compounded
▲ 8%
EBITDA CAGR growth
1 year
▼ 23%
3 years · compounded
▲ 7%
5 years · compounded
▲ 50%
Revenue fell 21% in the latest year, but over five years it has grown at a compounded annual rate (CAGR) of 8%. EBITDA fell 23% in the latest year. Three- and five-year figures are compounded annual growth rates (CAGR): the steady yearly rate that links the first and the last year. All are worked out from the filed statements.
Financial Statement Summary
| Metrics | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 |
|---|---|---|---|---|---|
| Profit and Loss Statement | |||||
| Revenue from Operations | |||||
| Other Income | |||||
| Total Revenue | |||||
| Cost of Materials Consumed | |||||
| Employee Benefit Expense | |||||
| Finance Costs | |||||
| Depreciation and Amortisation | |||||
| Other Expenses | |||||
| Total Expenses | |||||
| EBITDA | ₹403.39 Cr | ||||
| Profit Before Tax | |||||
| Tax Expense | |||||
| Net Profit (PAT) | ₹325.21 Cr | ||||
| Balance Sheet | |||||
| Share Capital | |||||
| Reserves and Surplus | |||||
| Net Worth (Total Equity) | |||||
| Long-term Borrowings | |||||
| Short-term Borrowings | |||||
| Trade Payables | |||||
| Total Liabilities | |||||
| Fixed Assets | |||||
| Investments | |||||
| Inventories | |||||
| Trade Receivables | |||||
| Cash and Bank Balance | |||||
| Total Assets | |||||
Financial Ratios
| Metrics | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 |
|---|---|---|---|---|---|
| Profitability | |||||
| EBITDA Margin | 41.1% | ||||
| Net Profit Margin | 33.1% | ||||
| Return on Equity (ROE) | |||||
| Return on Capital Employed (ROCE) | |||||
| Return on Assets (ROA) | |||||
| Liquidity and Debt | |||||
| Current Ratio | |||||
| Quick Ratio | |||||
| Debt-to-Equity Ratio | |||||
| Interest Coverage Ratio | |||||
| Efficiency and Growth | |||||
| Asset Turnover | |||||
| Receivable Days | |||||
| Payable Days | |||||
| Inventory Days | |||||
| Revenue Growth | |||||
| Net Profit Growth | |||||
To see the full financial statements and ratios of Suashish Diamonds Limited, buy the company report.
Board of directors of Suashish Diamonds Limited
Suashish Diamonds has 6 current directors and 23 former directors. Current directors are listed first, with their designation and appointment date.
Current Directors
| Name | Designation | Appointment Date | Tenure | Status |
|---|---|---|---|---|
| Vipul Amul Desai Also directs: Sonal Adhesives Limited, Triochem Products Limited, National Plastic Industries Limited and 1 more | Director | 14 Jun 2022 | 4 Years 4 Months | Current |
| Rajeshkumar Radhakishan Kedia Also directs: Stallionsig LLP, Hari Smriti Properties Private Limited, Revival Tradeplace Private Limited and 5 more | Whole-Time Director | 11 Feb 2012 | 14 Years 8 Months | Current |
| Ashish Rameshkumar Goenka Also directs: Prime Gems & Jewellery Processor LLP, Stallionsig LLP, Hari Smriti Properties Private Limited and 5 more | Director | 07 Jun 2011 | 15 Years 4 Months | Current |
| Ishan Ashish Goenka Also directs: Hari Smriti Properties Private Limited, Revival Tradeplace Private Limited, Radiant Holdings Pvt Ltd and 3 more | Additional Director | 12 Nov 2024 | 1 Years 11 Months | Current |
| Srividya Babu Rao | Director | 01 Dec 2016 | 9 Years 11 Months | Current |
| Priyank Chamaria | Additional Director | 10 Dec 2024 | 1 Years 10 Months | Current |
Peer comparison
Suashish Diamonds Limited is compared with the 7 companies closest to it by revenue in the Consumer Products industry (Watches and Jewellery Manufacturers), with the same principal business activity (other manufacturing including jewellery, musical instruments, medical instruments, sports goods, etc. activities), from the latest filed financials of each company.
| Company | Revenue | Net profit | Margin | Growth (1 yr) | Employees | Location |
|---|---|---|---|---|---|---|
| Anjali Jewellers Pvt.Ltd. | ₹1,003.91 Cr (FY 2024) | 14.0% | Kolkata, West Bengal, India | |||
| Veer Jewellers Private Limited | ₹1,003.16 Cr (FY 2025) | 83.0% | Mumbai, Maharashtra, India | |||
| R . B. Jewellers Private Limited | ₹983.21 Cr (FY 2025) | 57.0% | Kolkata, West Bengal, India | |||
| Suashish Diamonds Limitedthis company | ₹981.24 Cr (FY 2025) | ₹325.21 Cr | 33.1% | -21.0% | 728 | Borivlai East, Maharashtra, India |
| Zar Jewels Private Limited | ₹967.73 Cr (FY 2025) | 11.0% | Mumbai, Maharashtra, India | |||
| Anabh Gems Private Limited | ₹965.34 Cr (FY 2025) | -7.0% | Mumbai, Maharashtra, India | |||
| Surya Golds Private Limited | ₹961.94 Cr (FY 2025) | 61.0% | Mumbai, Maharashtra, India | |||
| Uni Design Elite Jewellery Private Limited | ₹955.4 Cr (FY 2025) | 29.0% | Mumbai, Maharashtra, India |
To see the full peer comparison of Suashish Diamonds Limited, buy the company report.
Auditor
Suashish Diamonds Limited is audited by P Y S & CO LLP for the financial year 2024.
| Auditor firm | Financial year | Firm registration number |
|---|---|---|
| P Y S & CO LLP | FY 2024 | 012388S/S200048 |
Shareholding
The shareholding of Suashish Diamonds Limited is on record for 5 financial years, the latest being FY 2024, split between promoters, domestic institutions, foreign institutions, public shareholders and others.
| Shareholder category | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|
| Promoters | |||||
| Domestic institutional investors (DII) | |||||
| Foreign institutional investors (FII) | |||||
| Public | |||||
| Others |
To see the full shareholding pattern of Suashish Diamonds Limited, buy the company report.
Charges & borrowings
Open charges
None
Satisfied charges
₹892.79 Cr
Breakdown by lending institutions
Latest charge details
| Date | Charge ID | Lender | Amount | Status | Modified or satisfied on |
|---|---|---|---|---|---|
| 22 Jun 1998 | 90229357 | Centbank Financial Services Limited | ₹425 Cr | Satisfied | |
| 13 Jun 1997 | 90240341 | Standard Chartered Bank | ₹13 Cr | Satisfied | |
| 23 Mar 1995 | 90243232 | Central Bank of India | ₹1.73 Cr | Satisfied | |
| 21 Feb 1995 | 90240036 | The Vysta Bank Ltd | ₹3.05 Cr | Satisfied | |
| 21 Feb 1995 | 90242045 | The Vysta Bank Ltd | ₹1.85 Cr | Satisfied |
To see the full charge records of Suashish Diamonds Limited, buy the company report.
Total charge records: 11 View all charges
Deals & funding
Suashish Diamonds Limited has 7 deals on record (4 market trades, 2 secondary share transfers, 1 funding round), with disclosed funding of ₹16.2 Lakh; the latest was in March 2019.
Total deals
7
Market trades
4
Secondary share transfers
2
Funding round
1
Disclosed funding
₹16.2 Lakh
Deals on record (5 of 7)
| When | Deal | Amount | Parties |
|---|---|---|---|
| Mar 2019 | Secondary share transfer | Undisclosed | Buyer: 2 individuals Seller: an individual |
| Mar 2017 | Secondary share transfer | Undisclosed | Buyer: Prudent Investment, Mohinidevi Goenta Trust, Revival Tradeplace Private Limited Seller: Others - Suashish Diamonds Limited, 3 individuals |
| Jan 2016 | Funding round | ₹16.2 Lakh | Investors: Prudent Investment, Mohinidevi Goenta Trust |
| Oct 2009 | Market trade | ₹7.02 Cr | Buyer: Duetsche Asset Mgmt A/C Dws Money Plus Advantage Fund Seller: K Girdharlal International Ltd |
| Oct 2008 | Market trade | ₹10.18 Cr | Buyer: Somerset Emerging Opportunitie |
To see the full deal history of Suashish Diamonds Limited, buy the company report.
Deal records are compiled from filings and public sources; amounts are shown only where the source reported them.
Legal cases
Suashish Diamonds Limited has 9 court cases on record: 3 filed by Suashish Diamonds, 6 filed against it. All cases are disposed.
Total cases
9
Filed by the company
3
Filed against the company
6
Disposed
9
Cases by court
| Court | Cases | Against the company | Pending |
|---|---|---|---|
| District courts | 5 | 2 | 0 |
| High courts | 3 | 3 | 0 |
| Supreme Court | 1 | 1 | 0 |
Cases on record (5 of 9)
| Court | Type of case | Party | Status |
|---|---|---|---|
| District court, Mumbai CMM Courts, Maharashtra | Court case (Ss casess) | Filed against the company by Municipal Corporation H / East Ward, Mumbai. | Disposed |
| Supreme Court | Court case (0318-Direct Taxes Matter : Deductions/exemptions) | Filed against the company by Commissioner of Income Tax 5 5Th Floor Room No.559 , District: Aayakar Bhawan M.K Road ,Mumbai , Maharashtra | Disposed |
| Bombay High Court | Tax appeal | Filed against the company by The Commissioner of Income Tax - 5 | Disposed |
| District court, Maharashtra Industrial and Lab, Maharashtra | Court case (Complaint ULP1) | Filed against the company by an individual | Disposed |
| District court, Mumbai CMM Courts, Maharashtra | Court case (SUMMONS CASES SS) | Filed by the company against individuals | Disposed |
To see the full case history of Suashish Diamonds Limited, buy the company report.
Case records are compiled from court listings and may lag the court's own records. A case filed against a company is not a finding against it.
Credit ratings & regulatory alerts
Suashish Diamonds Limited was last rated by Care on 07 Mar 2022.
| Rating agency | Rated on | Rating |
|---|---|---|
| Care | 07 Mar 2022 |
To see the full credit ratings and regulatory alerts of Suashish Diamonds Limited, buy the company report.
MSME payment delays
No delayed payments to MSME suppliers are on our record for Suashish Diamonds Limited; the supplier-wise MSME Form 1 check is in the company report Buy the company report.
Group structure & subsidiaries
Suashish Diamonds has 1 associated company. This group structure data is as of FY 2024. The table lists each entity with its relationship and holding.
1
Associated companies
Employees & EPFO
Suashish Diamonds Limited has a workforce of 728 employees on its EPFO records as of Nov 05, 2025, across 2 active EPFO establishments.
Employee count
728
Active EPFO establishments
2
Employee growth
9.64%
GST
Suashish Diamonds has 5 GST registrations: 3 active and 2 cancelled or inactive.
Total GSTINs
5
Active
3
Cancelled / inactive
2
| GSTIN | State | Status | Registered on |
|---|---|---|---|
| 27AAACS8246H1Z6 | Maharashtra | Active | 01 Jul 2017 |
| 27AAACS8246H2Z5 | Maharashtra | Active | 01 Jul 2017 |
| 27AAACS8246H3Z4 | Maharashtra | Active | 01 Apr 2025 |
To see the full GST registrations and return filing status of Suashish Diamonds Limited, buy the company report.
Recent activity
Suashish Diamonds Limited has 26 board changes on record since 2008: 7 appointments and 19 cessations. The latest: Kausik Nath was appointed as Company Secretary on 10 Feb 2025.
AGM
Suashish Diamonds Limited last Annual general meeting of members was held on 30 Sep 2025 as per latest MCA records.
Filing
Suashish Diamonds Limited has filed its annual Financial statements for the year ended 31 Mar 2025 with Roc Mumbai.
Appointed
Kausik Nath was appointed as Company Secretary.
Appointed
Priyank Chamaria was appointed as Additional Director.
Appointed
Ishan Ashish Goenka was appointed as Additional Director.
Ceased
Vipul Amul Desai ceased to be Additional Director.
Appointed
Vipul Amul Desai was appointed as Director.
Ceased
Kamal Ramprasad Gupta ceased to be Director.
Ceased
Pawankumar Shyamsundar Bagla ceased to be Whole-Time Director.
Ceased
Prashant Kumar De ceased to be Cfo(Kmp).
Ceased
Tejas Devendra Shah ceased to be Company Secretary.
Ceased
Srividya Babu Rao ceased to be Additional Director.
43 earlier events are in the company report.
News
Frequently asked questions
Suashish Diamonds is an active public limited company based in Borivlai East, Maharashtra, India. The company works in watches and jewelry manufacturing, within the consumer goods industry. It was incorporated on 05 October 1988 (38+ years old) and is registered under CIN U36900MH1988PLC049085.
Suashish Diamonds has 6 current directors:
- Rajeshkumar Radhakishan Kedia - Whole-Time Director
- Vipul Amul Desai - Director
- Ashish Rameshkumar Goenka - Director
- Ishan Ashish Goenka - Additional Director
- Srividya Babu Rao - Director
- Priyank Chamaria - Additional Director
The latest financial statements of Suashish Diamonds on record with the MCA are for the year ended 31 March 2025. Its last annual general meeting was held on 30 September 2025. Year-wise statements from 2015 are in the company report.
The GSTIN of Suashish Diamonds is 27AAACS8246H1Z6, registered in Maharashtra. The company has 5 GST registrations in all, of which 3 are active and 2 are cancelled or inactive. Other active GSTINs include 27AAACS8246H2Z5 (Maharashtra), 27AAACS8246H3Z4 (Maharashtra).
The CIN (Corporate Identification Number) of Suashish Diamonds is U36900MH1988PLC049085. It is issued by the Ministry of Corporate Affairs under the Companies Act, 2013, and uniquely identifies the company in India.
Suashish Diamonds has 9 court cases on record: 3 filed by the company and 6 filed against it. Most are in the district courts.
Suashish Diamonds was incorporated on 05 October 1988, making it 38+ years old. It is registered with the Registrar of Companies, Mumbai.
Suashish Diamonds has 7 deals on record (4 market trades, 2 secondary share transfers, 1 funding round), with disclosed funding of ₹16.2 Lakh; the latest was in March 2019.
The peers of Suashish Diamonds by revenue are Anjali Jewellers Pvt.Ltd, Veer Jewellers Private Limited, R . B. Jewellers Private Limited, Zar Jewels Private Limited, Anabh Gems Private Limited and 2 more, all in the Consumer Products industry (Watches and Jewellery Manufacturers), with the same principal business activity (other manufacturing including jewellery, musical instruments, medical instruments, sports goods, etc. activities).
Kausik Nath was appointed as Company Secretary on 10 Feb 2025. Priyank Chamaria was appointed as Additional Director on 10 Dec 2024. Ishan Ashish Goenka was appointed as Additional Director on 12 Nov 2024. Suashish Diamonds has 26 board changes on record in total.
Suashish Diamonds can be reached through the website suashish.com. Its registered office is in Borivlai East, Maharashtra, India.
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