Established in 1988, Sarine has become the worldwide leader in the development and manufacturing of advanced evaluation, planning, cutting, shaping, polishing and grading systems for diamond and gemstone production.
Sarine products have become an essential tool in every properly equipped gem lab, diamond appraisal business and manufacturing plant, and today are considered essential for both diamond dealers and retailers.
Recently, sarine tech. Ltd. Announced that its performance reports are being implemented for the first time in Thailand by Aurora Design Co., Ltd. Headquartered in the heart of Bangkok, Aurora Group has an established presence of over four decades in Thailand with over 200 retail stores nationwide. A subsidiary of Aurora Design Co., Ltd., Aurora Diamond sees importance in enhancing their customers’ buying experience by providing comprehensive imaging and grading information of the diamond’s quality and beauty, by adopting Sarine’s light performance technologies.
This can be said to be the expansion of Sarine tech, Ltd. in Thailand and it is an another step in the continuous penetration of Sarine’s digital retail solution in the Asia Pacific region.
Sarine tech. Ltd has also opened a brand new facility in Surat, India consolidating all the group’s Surat based activities for indian diamond market under one roof.
It would be an exciting and important milestone, and will also serve the current and future needs and growth of the Group’s operation in India.
Current share Price- 1.675 SGD
The Group reported in Q1 2017 revenues of US$ 16.3 million, profit from operations of US$ 3.2 million, and net profit of US$ 2.5 million, as compared to revenues of US$ 15.5 million, profit from operations of US$ 3.7 million, and net profit of US$ 3.0 million in Q1 2016, and as compared to revenues of US$ 18.9 million, profit from operations of US$ 6.3 million and net profit of US$ 5.0 million in Q4 2016.
The year-over-year improvement in revenue is due to the increased diamond maufacturing equipmement sales. Net profit declined on higher operating expenses. The sequential quarterly decline in revenues was primarily due to fewer Galaxy deliveries following the discontinuance of the 2016 promotion of the Meteor under attractive introductory terms, which are no longer offered. Operating expenses, were further impacted by an approximate 5% decline of the US Dollar versus the NIS in Israel, where most of their compensation expenses are incurred.
The stock is at the current price of 1.675, which is fluctuating at that particular point only. However, due to the company’s announcement related to its expansion, there are possibility that an upward trend would emerge.
“After evaluating the Fundamentals of the company, it is expected that the stock would move upwards with an increase in 20 to 25 cents in the upcoming 3-4 weeks, as the current price is 1.675 so we can expect an upward movement near about 1.88 to 1.90. Thus one can enter into this stock, to get 12% to 14 % of ROI within 3-4 weeks.”
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