Goldiam International (526729) Q1 23/24 earnings summary

Executive summary

• Q1 FY24 revenue declined amid US demand headwinds, while EBITDA and margins improved QoQ; lab-grown jewellery, online sales and Middle-East expansion advanced.

• The Middle-East order win of ₹30 crore lifted the order book to ~₹110 crore at June 30, 2023.

Financial highlights

• Consolidated revenue declined 14% YoY and 10% QoQ; consolidated profit before tax was ₹2,250.24 lakh and period profit was ₹1,730.05 lakh.

• Consolidated total income was ₹12,118.40 lakh in Q1 FY24, versus ₹13,489.73 lakh in Q4 FY23 and ₹14,109.67 lakh in Q1 FY23.

• Standalone revenue from operations was ₹5,831.91 lakh and period profit was ₹899.23 lakh.

Outlook and guidance

• The ₹30 crore Middle-East order was scheduled for execution within six months; the order book stood at ~₹110 crore at June 30, 2023.

• The festive season was expected to support demand recovery, while US discretionary spending had yet to fully rebound.

• Lab-grown diamond jewellery was expected to increase its revenue contribution over time, supporting innovation and margin protection.