MDIL clarified that the contract does not qualify as a related-party transaction and that neither the company’s promoters nor members of the promoter group have any interest in the awarding entity.

The company stated that the order underscores its ability to cater to diverse customer requirements across the diamond value chain, supported by its longstanding industry presence, manufacturing expertise, and focus on quality. MDIL added that its understanding of customer preferences, product specifications, and disciplined execution continues to help strengthen its domestic business and diversify its customer base.

The company noted that while the diamond industry has undergone significant changes in recent years, particularly with the increasing prominence of lab-grown diamonds, the natural diamond segment continues to offer opportunities for established players capable of delivering quality, reliability, and craftsmanship.

Upendra Narottamdas Shah, chairman and managing director, Mini Diamonds (India), said : “This order reflects the confidence placed in MDIL’s execution capabilities, product understanding and commitment to quality. The natural diamond market continues to remain competitive, but we believe that companies with established experience, disciplined operations and the ability to align with client specific requirements will continue to find meaningful opportunities. At MDIL, our focus remains on building sustainable customer relationships, improving sales visibility and supporting steady growth across our core areas of business.”

Mini Diamonds (India) (MDIL) is engaged in the business of manufacturing and trading diamonds.

The company reported a consolidated net loss of Rs 6.18 crore in Q4 FY26 as against a net loss of Rs 2.76 crore in Q4 FY25. Revenue from operations increased 54.89% to Rs 149.98 crore during the quarter ended March 2026 from Rs 96.83 crore in the corresponding quarter of the previous year.