Goldiam International Limited — Investor Meet, 29-05-2025: Analysts/Institutional Investor Meet/Con. Call Updates

Goldiam reported Q4 revenue at INR 202 Cr, up 33% YoY, and FY25 revenue grew 30% to INR 800.6 Cr. Q4 EBITDA surged 44% to INR 39.5 Cr, with FY25 EBITDA margin steady at 22.4%. PAT was INR 117.1 Cr, up 29% YoY. Lab-grown diamond exports formed 81.8% of Q4 exports; online sales contributed ~30% of revenue. The order book stands at INR 140 Cr, with fresh orders of INR 80 Cr post-quarter.

Management targets EBITDA margins of 18-22%, expecting slight Q1-Q2 softness due to US tariff pass-through, seen as temporary. ORIGEM retail operations have 6 stores, aiming for 20-25 stores in FY26 with INR 2 Cr+ monthly revenue/store and faster breakeven. Retail expansion plans include Delhi NCR and Bangalore.

Inventory rise is tied to new B2B consignment designs and ORIGEM stocking; receivables improved due to higher online sales. Lab-grown jewelry average realization is $742/piece versus $467 for mined diamonds. The company aims to double B2B revenues in 3-4 years, focusing on scale and integrated manufacturing advantage amid rising competition. Growth outlook is confident, balancing margins and capital efficiency amid tariff challenges.