Tara Jewels seems to have lost all its shine and gloss, and is now deep in the red, in the books and on the bourses too. The stock, intra day slipped almost 10% to Rs.33.20, close to its 52-week low of Rs.30.65.

The company posted a dismal set of consolidated numbers for Q4Fy16. Though net sales rose 9% (YoY) at Rs.574 crore, a 71% jump in raw material cost skewed all the math further. The company seems to have reduced employees as its employee cost came down significantly by 38%. It posted an EBIT of Rs.15 crore but after the interest outgo of Rs.24 crore, the company ended the quarter with a net loss of Rs.6 crore v/s profit of Rs.10 crore in Q4FY15. The tax write back of Rs.3 crore reduced the loss to that extent.

The company ended FY16 with a 4% rise in consolidated net sales at Rs.1801 crore and net profit slipped 43% to Rs.25 crore. Its borrowings stand quite high at Rs.474 crore. Cash at hand was at Rs.78 crore.