**Parshva Enterprises Limited (PEL)** is an Indian listed entity that has recently undergone a strategic transformation to streamline its operations across the **Gems & Jewellery**, **Real Estate**, and **Trading** sectors. Originally listed on the **BSE SME Platform** on **July 1, 2019**, the company migrated to the **BSE Main Board** on **May 4, 2022**, to enhance liquidity and investor visibility. --- ### Strategic Corporate Restructuring: The 2025 Demerger In **October 2025**, PEL executed a transformative **Scheme of Arrangement** to segregate its business verticals. This restructuring was designed to provide independent management focus and unlock shareholder value by separating the high-volume jewellery business from the core diamond and real estate operations. | Feature | Parshva Enterprises Ltd (Demerged Co.) | Simandhar Impex Limited (Resulting Co.) | | :--- | :--- | :--- | | **Retained Business** | **Real Estate** and **Cut & Polished Diamonds** | **Jewellery** and **Precious Metals** | | **Status** | Listed Parent Entity | Independently listed on BSE (**Dec 22, 2025**) | | **Share Swap Ratio** | Retained existing holdings | **3** Equity Shares of **SIL** for every **10** held in **PEL** | | **BSE Scrip Code** | **542725** | **544662** | Following the demerger, PEL focuses exclusively on its **Remaining Undertakings**, primarily the **Cut & Polished Diamonds** and **Real Estate** segments. --- ### Core Business Verticals & Operational Scope #### 1. Cut & Polished Diamonds (CPD) PEL functions as a specialized player in the diamond value chain, acting as a **wholesaler, retailer, importer, and exporter**. * **Sourcing & Supply:** The company sources rough or cut diamonds at competitive prices, supplying polished stones to wholesalers, manufacturers, and retailers across India. * **Product Range:** Includes cut/uncut diamonds, coarse/polished stones, and **synthetic stones**. * **Import Advantage:** In **February 2026**, the company secured a **Tariff Rate Quota (TRQ) Authorisation** from the **DGFT**, allowing for the strategic import of goods from the **United Arab Emirates** under preferential terms. #### 2. Real Estate & Infrastructure Development Managed through the parent company and its **Wholly Owned Subsidiary (WOS)**, **Parshva Multitrade Limited** (incorporated **November 10, 2023**), this vertical explores property development and management. * **Development Portfolio:** Construction of **dwelling houses, shops, offices, and industrial estates**. * **Service Offerings:** Acting as **estate brokers and agents**; acquiring lands on a **leasehold or freehold** basis. #### 3. General Trading & Distribution PEL operates as a **multi-commodity trading house** leveraging a network of distributors and commission agents. * **Market Reach:** Domestic and International (Import/Export). * **Roles:** Functions as **C&F agents, stockists, and job workers**. * **Specialty Items:** Trading in silver plates, bronzes, coins, and **articles of art/antiques**. --- ### Financial Performance & Capital Structure The company has maintained a track record of consistent profitability, though recent global headwinds in the gems sector have impacted earnings. **Key Financial Metrics (Consolidated):** * **FY 2024-25 Profit:** **Rs. 18.69 Lakhs** * **FY 2023-24 Profit:** **Rs. 25.60 Lakhs** * **FY 2022-23 Profit:** **Rs. 21.44 Lakhs** **Capital Management:** * **Paid-up Share Capital:** **Rs. 10,18,97,490** (consisting of **1,01,89,749 Equity Shares** of **Rs. 10** each). * **Authorized Capital Expansion:** In **January 2026**, the Board approved an increase in Authorized Share Capital from **Rs. 10.50 Crore** to **Rs. 15.00 Crore**. * **Preferential Allotment (March 2024):** Allotted **1,40,000 shares** at **Rs. 200 per share** (including a **Rs. 190 premium**). * **90,000 shares** issued to the Promoter via **conversion of unsecured loans** (**Rs. 1.80 Crore**). * **50,000 shares** issued to non-promoters to raise **Rs. 1.00 Crore** for working capital. * **Dividend Policy:** No dividends were recommended for **FY24** or **FY25**, as the company prioritized capital preservation and restructuring. --- ### Governance & Infrastructure * **Leadership:** Led by **Prashant A. Vora** (Chairman & MD) and **Harsh P. Vora** (Whole-time Director). * **Board Composition:** **Six directors**, including **three Independent Directors** (ensuring 50% independence) and one woman director. * **Shareholding Form:** **100%** of equity shares are dematerialized, held via **NSDL (81.74%)** and **CDSL (18.26%)**. * **Audit & Compliance:** **M/s. JSD & Associates** serves as Secretarial Auditor for a five-year term (**FY 2025-26 to FY 2029-30**). --- ### Risk Profile & Industry Outlook PEL operates in a high-volatility environment characterized by shifting global demand and capital-intensive cycles. **Market Challenges:** * **Export Volatility:** Total Indian gems and jewellery exports declined by **11.72%** in **FY 2024-25** to **US$ 28.5 billion**. * **Working Capital Intensity:** The industry faces **high inventory levels** and long credit periods, yet remains a **low priority sector** for traditional bank financing. * **Consumer Shifts:** A growing preference among younger demographics for **colored gemstones, platinum, and palladium** over traditional gold. **Risk Mitigation:** * **Enterprise Risk Management:** Risks are integrated into **annual strategic business plans**. * **No Pending Litigation:** As of **June 2025**, there are no significant legal proceedings or insolvency actions against the company. * **Sector Growth Targets:** Despite current contractions, the Indian government targets **USD 100 billion** in exports by **2027**, with the domestic market projected to reach **USD 119.80 billion** by **FY2027** (**8.34% CAGR**). --- ### Subsidiary Summary (Post-2025) | Entity | Relationship | Primary Focus | | :--- | :--- | :--- | | **Parshva Multitrade Limited** | **100% WOS** | Real Estate Development | | **Simandhar Impex Limited** | **Independent** | Jewellery & Precious Metals (Demerged) |