Shares of Goldiam International, exporter of diamond jewellery, hit a new high of Rs 509.50, as they rallied 9 per cent on the BSE in Tuesday’s intra-day trade on expectations of strong earnings. Thus far in the month of January 2025, the stock price of this smallcap company has zoomed 32 per cent. In comparison, the BSE Sensex declined 1.5 per cent and BSE Smallcap index slipped 7.6 per cent during the same period.
In the past six months, the stock price of Goldiam International skyrocketed 188 per cent, as against 5 per cent fall recorded by the Sensex and Smallcap index.
The company functions as the manufacturer for many of the leading global branded retailers, departmental stores and wholesalers across American and European markets. Targeting the mid‐to‐affordable diamond & bridal jewellery segments, Goldiam has a dedicated sales office in New York, with design teams in both India and the USA. The company recently started its first retail store in India and plans to add many more stores in coming years.
On increase in trading volume of the security of the company, Goldiam International last month clarified that the current movement in the volume of its security seems to be attributable to the general market movement.
“We would like to inform you that our company makes available all requisite information in the public domain from time to time as required which would have any bearing on operations or performance of the company,” Goldiam said.
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Goldiam has locked the final Brand Identity for India Retail – ORIGEM- a brand for Lab Grown Diamond studded Jewellery. In stage one, Goldiam aims to open its first 3-5 stores in Q3FY25; with a total of 15 stores budgeted to open by the end of Q1FY26, which will thereafter be followed by a robust expansion plan of store roll-out, depending on success of the pilot 15 stores. ORIGEM aims to be the largest Lab Grown Diamond jewellery brand in India with its company-owned; company-operated show rooms within the first year of operations itself.
Goldiam is geared to expand ORIGEM’s footprint with an aggressive retail launch strategy across key locations, positioning Goldiam to capture a larger share of the lab‐grown diamond jewellery market.
On January 7, the company said it successfully launched its dedicated website for its domestic retail lab-grown diamond brand, ORIGEM, under the domain www.origemindia.com. The launch of this platform aligns with Goldiam's strategic objective of expanding its digital footprint and enhancing accessibility to lab-grown diamonds in the domestic market.
Meanwhile, while announcing September quarter (Q2FY25) earnings, the management said, during the quarter Goldiam witnessed several shipment delays due to flight cancellations to the United States. This impacted significantly to the company’s Q2 revenue. These revenues were subsequently booked in the month of October.
In Q2FY25, Goldiam had reported 6 per cent year-on-year (YoY) decline in its consolidated profit after tax at Rs 22.1 crore, due flat revenue at Rs 141.1 crore over the previous year quarter.
Goldiam reported a robust 34 per cent growth in standalone revenue, and a 74 per cent increase in standalone profit after tax. Consolidated revenue for Q2, however, saw only a marginal increase, primarily due to shipment delays caused by flight alterations / cancellations to the US, impacting consolidated sales. Excluding the shipment delays, the company would have posted a significant 38 per cent revenue growth for Q2.
With the onset of festive season in the US, looking ahead, the management is confident that the upcoming quarter will be Goldiam's best to date, underscoring its belief in the sustained demand for lab‐grown diamonds among our US retail partners. Concerns regarding declines in lab‐ grown diamond prices, appear to be largely overstated, the management said.