Goldiam International Ltd. reported robust financial performance for Q3 and the first nine months of FY25, showcasing significant growth across key metrics. The company’s strong performance was driven by its lab-grown diamond jewellery segment and favorable market conditions in key regions.
Key Financial Highlights – Q3 FY25 (YoY Comparison)
- Revenue: ₹288 crore, up 41% YoY
- EBITDA: ₹70.8 crore, up 62% YoY
- EBITDA Margin: 24.6%, an increase of 325 bps
- Profit After Tax (PAT): ₹49.8 crore, up 54% YoY
- PAT Margin: 17.3%, an improvement of 148 bps
9M FY25 Performance Highlights
- Revenue: ₹598.8 crore, up 29% YoY
- EBITDA: ₹139.7 crore, up 39% YoY
- PAT: ₹93.9 crore, up 28% YoY
Key Growth Drivers
The company’s lab-grown diamond jewellery segment contributed 80% of Q3 FY25 revenue, reflecting its continued growth trajectory from 58% in the same quarter last year. The India retail brand ‘ORIGEM’ also played a pivotal role in expanding market share, with three operational stores and three additional locations in the pipeline.
Commenting on results, Mr. Rashesh Bhansali, Executive Chairman, Goldiam International, said, “Q3 went exceptionally well for Goldiam. We posted higher revenue with better margin profile during Q3, thus improving overall margin for nine months ended so far of FY25. While Q3 typically is a better quarter for Goldiam due to the festive season purchases across the USA, Goldiam’s efforts to improve wallet share amongst its existing customers is translating in better revenue growth, even as the US jewellery market remain stagnant. This coupled with our quick time to market, innovative designs, and efficient procurements of diamonds helping us in protecting and strengthening the margins. Q3 was also significant for us as we made our India foray with the domestic B2C brand “ORIGEM”. Our vision for ORIGEM is to make it India’s largest lab grown diamond jewellery brand and we have a dedicated retail team to pursue that goal.”
Mr. Anmol Bhansali, Managing Director of Goldiam International, said, “Our B2B jewellery export posted satisfactory growth during Q3; what excites us is that 80% of the revenue has come from lab grown diamond jewellery export. The gives us huge boost of confidence to expand our India retail brand ORIGEM as consumer acceptance of lab grown diamond jewellery is going to be extremely rapid in our opinion. Also, while these are early days for ORIGEM with just three stores, consumer response at each store is more than satisfactory. We recently opened our Mumbai Flagship store in the key jewellery market of Turner Road in Bandra, marking our entry into one of the most prestigious shopping destinations in our country. We hope this establishes ORIGEM’s brand & promise as we roll out more stores nationally, in the near future. Our recently launched ORIGEM website is seeing good traction among consumers. We have three more stores planned in Mumbai, post which ORIGEM will enter National Capital Region.”
Operational Updates
- The company’s EBITDA margin for Q3 improved to 24.6%, up from 21.3% in Q3 FY24, due to strong operating efficiencies and favorable sales mix.
- The order book, valued at ₹1,750 million as of December 31, 2024, is expected to be executed within the next 3-4 months.
Goldiam International’s continued focus on expanding its market share, especially in the US and online segments, positions the company well for sustained growth.
