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Gems & Jewellery company Goldiam International announced Q1FY25 results:

• Goldiam’s Q1FY25 consolidated revenue at Rs 1697 million increased sharply by 40% Y-o-Y; and 12% Q-o-Q.
• Goldiam’s Q1FY25 EBITDA at Rs 342 million showed a robust growth of 44% Y-o-Y.
• EBIDTA margin for Q1FY25 remained steady at 20.1%. Profit after Tax for Q1FY25 at Rs 220 million grew by 27% Y-o-Y, and 24% Q-o-Q

Commenting on Q1FY25 results, Rashesh Bhansali, Executive Chairman, Goldiam International, said, “Goldiam’s financial performance for quarter is an outcome of the company’s relentless pursuit to increase its wallet share amongst its large US retailers. Over the years, our team has developed a strong sense of fashion trends among the US customers, and have been able to come up with contemporary designs. In coming months, we hope to make further inroads in deepening our relationships with our existing customers. The topline growth of 40% for the quarter, and a strong order book position gives us huge boost of confidence for the rest of the year. Our cash position as on June 30, 2024 remains very strong at Rs 3332.37 million.”

Anmol Bhansali, Managing Director of Goldiam International, said, "LGD jewellery sales contributing 68% to the total revenue is a strong indication of a clear shift in consumer preference. The customers is the USA, at our target price points, are clearing voting in favour lab grown diamond jewellery which has a distinct price advantage. At Goldiam, we strongly believe that Indian consumers will mirror this behaviour, too. With our India retail venture, ORIGEM, Goldiam hopes to bridge that gap by making lab grown diamond jewellery more accessible and acceptable across India. Current progress includes the completion of hiring senior & mid-management at our head office to propel our entry into domestic retail. We are on track to achieving our store opening goals as stated above.”

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