Nityas Gems & Jewellery Ltd

Nityas Gems & Jewellery makes lightweight, daily-wear lab-grown diamond jewellery in gold, supplying jewellers and brands such as GIVA and Palmonas, and also sells directly through its subsidiary Ayaani. We like how the business has grown, with revenue going from INR 54 cr to INR 203 cr in just two years, driven by rising demand for affordable lab-grown diamond jewellery, and with low capex requirements. We would, however, be cautious about certain promoter group actions.