"The company has discontinued the operations of its jewellery business with immediate effect due to liquidity crunch in the company," SRS Ltd said in a regulatory filing.
SRS, which has presence across various sectors such as retail, hospitality, real estate, cinemas and jewellery, said it does not have adequate funds to replenish/purchase jewellery stock.
Jewellery business contributed to 74.09 per cent of total turnover of SRS Ltd in the previous fiscal. Revenue from jewellery business in fiscal 2016-17 stood at Rs 680.77 crore.
It is yet to finalise sale of multiplex business though.
SRS Cinemas operates over 50 screens in over 15 cities in the country.
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