C. Mahendra Exports Live NSE Stock Price Chart
C. Mahendra Exports (CMEL) is a flagship company of C Mahendra Group, promoted by Mahendra C. Shah and Champaklal K. Mehta. The group is an integrated diamond and diamond jewellery player sourcing rough diamond, trading rough and polished diamonds, processing diamonds and manufacturing diamond jewellery. The company has manufacturing facilities for cutting and polishing of diamonds at Varachha and Udhana in Surat, each with capacity of 120,000 carats per annum. On consolidated basis, CMEL has posted improved operating margin of 9.3% in the quarter ended June 2010 as against full year margin of 7.9% in FY 2010. It posted net sales of Rs 7.36 billion and net profit of Rs 403.80 million in the quarter ended June 2010. However, the company reported a drastic 91% fall in net profit at Rs 60.90 million on 21% rise in net sales at Rs 18.53 billion in FY 2009-10. The sharp fall in profits are attributed due to erosion in margins and due to forex losses as against gains in the previous year.
