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VAJRA INDUSTRY RESEARCH AND ACADEMIC MEET (VAIRAM) 2025 organised by GJEPC, IIT Madras inaugurated in Chennai

The Vajra Industry Research and Academic Meet (Vairam) 2025, a joint effort by GJEPC and InCent LGD IIT Madras, was officially introduced at the IITM Research Park in Chennai.

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Madras at IITM Research Park, Chennai, was unveiled by Prof. V Kamakoti, Director, IIT Madras, Prof M S Ramachandra Rao, InCent-LGD, IIT Madras, Mr. Manish Jiwani, Co-Convener, LGD Committee, GJEPC and Mr. Sabyasachi Ray, Executive Director, GJEPC among other dignitaries and industry experts.

The workshop features several panel discussions. “Beyond Gems: Next-Generation Applications of OLab-Grown Diamonds” explores LGDs’ potential in various industries beyond jewellery. “Lab-Grown Diamond Growth and Treatment Recipes and Challenges” delves into the intricacies of CVD and HPHT methods. “Diamond Quality Checks and Certification” addresses the crucial need for standardised quality control for gems, jewellery, and seeds. “Lab Grown Diamond Machines and Processing Equipment” will highlight the importance of indigenous equipment manufacturing to bolster India’s self-reliance. The workshop has drawn 150 + participants from the industry.

Key Takeaways

Diamond Quality Checks & Certification:

  • Advanced treatments challenge LGD grading and certification accuracy.
  • Key challenges: ensuring grading accuracy, standardization, and detecting undisclosed synthetics.
  • Emphasis on advanced testing methods, tech-driven grading, and industry consistency.
  • Traceability of tested items is a major issue.
  • LGDs are both supplementary and complementary to the diamond industry.
  • Mimicking natural diamond growth patterns in LGDs remains a challenge.

LGD Growth & Treatment Recipes: Key Takeaways

  • Increasing nitrogen in HPHT accelerates growth, benefiting gem-quality diamonds but not other industrial uses.
  • Focus on optimizing growth parameters, impurity control, and enhancement for superior diamonds.
  • Challenges include consistency, reducing defects, scalability, and reliance on high-purity raw materials.
  • Future focus on refining processes, improving sustainability, and enhancing research-industry collaboration.

Diamond Quality Checks & Certification (Continued): Key Takeaways

Strengthening quality assurance frameworks is essential to ensure consumer trust globally.

Grading LGDs differs from natural diamonds, especially in color; secondary reference masters needed.

Labs must assess hue saturation and intensity, not just color for LGDs.

Clarity characteristics differ due to metallic inclusions in LGDs.

Color grading challenges arise in borderline clusters where AI struggles.

LGDs are cut for perfection, unlike natural diamonds, which are cut for weight retention.

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Sky Gold & Diamonds Enters MSCI India Domestic Small Cap Index, Marks Key Milestone In Growth Journey

Index Inclusion Highlights Sky Gold’s Growing Market Relevance, Positive Operating Cash Flow and Focus On Disciplined, Scalable Growth.

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Sky Gold & Diamonds Ltd, one of India’s fast-growing jewellery manufacturers, has been added to the MSCI India Domestic Small Cap Index, as part of the latest index review announced by MSCI.

The inclusion marks an important milestone for Sky Gold, reflecting the company’s growing presence and relevance within India’s listed small-cap universe.

A key development during the current quarter has been the company turning operating cash flow positive, marking an important step in improving working capital discipline and strengthening the quality of its growth. The company remains focused on balancing business expansion with profitability and cash flow generation.

Sky Gold is simultaneously strengthening its governance and management framework, with a structured leadership approach, robust and strengthened financial and governance processes, including engagement with a large global accounting firm.

Operationally, Sky Gold continues to focus on lightweight and value-added jewellery, while expanding its customer base and strengthening its presence across organised jewellery retail. Its asset-light manufacturing model remains central to its strategy of scaling capacity while maintaining capital efficiency.

Commenting on the development, Mr. Mangesh Chauhan, Managing Director, Sky Gold and Diamonds Limited, said:

“Our inclusion in the MSCI India Domestic Small Cap Index is an important recognition of our growth journey over the years from building scale to building a stronger, more disciplined and institution-ready organisation. As we move forward, our focus is on a sustainable business—one that grows profitably, converts growth into cash, deploys capital efficiently and continues to strengthen the systems and governance required to operate at a much larger scale”.

With Sky Gold 3.0, we are building the organisation for this next phase of growth with greater financial discipline, deeper customer relationships and a stronger scalable operating model. We believe this inclusion will further broaden Sky Gold’s visibility within the institutional investment community and reinforce our commitment to creating long-term value for our stakeholders.”

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