Goldiam International (526729) Q4 23/24 earnings summary

Executive summary

• FY24 revenue grew 11% YoY to ₹6,167.5 mn; EBITDA was ₹1,282.2 mn and PAT ₹909.1 mn.

• Audited FY24 consolidated revenue from operations was ₹60,286.98 lakh vs ₹53,318.43 lakh; net profit after minority interest and associates was ₹9,680.64 lakh vs ₹8,960.53 lakh.

• Lab-grown diamond jewellery reached 49% of FY24 revenue versus 21% in FY23.

• Statutory auditors issued unmodified opinions on the audited standalone and consolidated FY24 results.

Financial highlights

• Q4 FY24 revenue was ₹1,513.3 mn, up 12% YoY; EBITDA rose 22% to ₹274.1 mn and PAT rose 10% to ₹177.6 mn.

• Audited Q4 FY24 consolidated revenue from operations was ₹14,785.86 lakh vs ₹13,494.81 lakh; net profit after minority interest and associates was ₹1,606.00 lakh vs ₹1,800.72 lakh.

• FY24 gross profit increased 3% to ₹2,081.6 mn; gross margin fell 259 bps to 33.8%, EBITDA margin fell 175 bps to 20.8%, and PAT margin fell 63 bps to 14.7%.

• FY24 consolidated profit before tax was ₹12,209.48 lakh vs ₹11,746.75 lakh; total comprehensive income was ₹9,690.15 lakh vs ₹9,036.92 lakh.

• FY24 standalone revenue from operations was ₹37,377.81 lakh vs ₹30,344.78 lakh; net profit was ₹5,930.88 lakh vs ₹5,687.58 lakh.

Outlook and guidance

• The ₹1,200 mn order book at March 31, 2024, was expected to be executed over four to six months; e-commerce spot sales were excluded.

• First 3–5 Erah stores were scheduled to open in Q3 FY25; a rollout blueprint was intended to support expansion beyond FY25.