Goldiam International Secures ₹70 Crore Export Orders For Diamond-Studded Gold Jewellery

On September 5, 2024, Goldiam International Limited announced a significant milestone in its business operations. The company has secured purchase orders worth ₹70 crore from major retailers in the USA for diamond-studded gold jewellery. Notably, 80% of these orders are for lab-grown diamond jewellery, underscoring a growing market trend towards sustainable and innovative jewellery solutions.

The company stated that this significant order achievement propels Goldiam’s cumulative order book past ₹200 crore, marking a historic high for the company.

These new orders reflect the increasing demand for lab-grown diamonds, highlighting a shift in consumer preferences towards environmentally friendly and ethically produced jewellery. Importantly, this figure does not include online orders, further emphasising the strength and growth of Goldiam’s traditional business channels. The company is expected to fulfil these orders over the next 3 to 4 months, i.e., on or before December 31, 2024, positioning itself for strong momentum in the near term.

For the first quarter of FY25, Goldiam reported robust financial performance. Consolidated revenue surged to ₹1,697 million, representing a 40% year-over-year increase and a 12% quarter-over-quarter rise. EBITDA for Q1 FY25 stood at ₹342 million, showing a substantial 44% year-over-year growth, with an EBITDA margin maintaining at a steady 20.1%. The profit after tax for the quarter reached ₹220 million, up 27% year-over-year and 24% quarter-over-quarter.

This performance is attributed to Goldiam’s ability to expand its wallet share among its large US retail customers. In the context of a general decline in the US retail jewellery industry, Goldiam’s success is a testament to its innovative designs, timely delivery, and superior service.

Lab-grown diamond jewellery played a crucial role, contributing 68% to the Q1 revenue and driving significant topline growth. Goldiam’s strong quarterly results reinforce its position as a preferred supplier of diamond jewellery, especially in the evolving market for lab-grown diamonds.

On September 5, 2024, the share price of Goldiam International Ltd opened at ₹340.00, touching the day’s high at ₹355.00, as of 12:24 PM on the NSE.

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