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Revenue
₹235 Cr
verified against source
Revenue YoY
27.5%
reported change
EBITDA
₹248.67 Cr
latest reported figure
Source
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record provenance
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What the record says.
Goldiam International reported record FY26 results with consolidated revenue crossing ₹1,000 crore for the first time, reaching ₹1,212.3 crore (+27.5% YoY) and PAT of ₹175.9 crore (+45.7% YoY). Q4 revenue grew 21% YoY to ₹2,433 million, with EBITDA margin at 23.9%. Growth was driven by strong US demand for lab-grown diamond jewelry, the hybrid casting model (US+India) which provides tariff immunity and margin expansion, and the ramp-up of the Origam retail chain (24 stores, targeting 45-50 by FY27 exit). Management guided for double-digit revenue growth in FY27 and expects margins to improve further. Key risks include competitive intensity in the Indian B2C lab-grown diamond market and potential execution challenges in scaling Origam stores to profitability.
Colored figures show movement against the previous available record.
Guidance to track
- Management expects overall consolidated revenue to grow in double digits in FY27 over the high base of FY26.
- Origam aims to have 45-50 company-owned stores by the end of FY27, with 8-10 more stores operational by September 2026.
- Origam targets an exit monthly revenue run rate of ₹7 crore for FY27.
- Management plans to spend between ₹4 to ₹4.5 crore on marketing in the first half of FY27.
Risks flagged
- Rising competition from new entrants in the lab-grown diamond jewelry space in India could pressure Origam's market share and margins.
- With 12 of 24 stores opened in the last 60 days, achieving store-level break-even and overall profitability for Origam remains a key challenge.
- Increased concentration of revenue from top three US retailers poses a risk if any retailer reduces orders or shifts suppliers.
- Other expenses rose to 14% of revenue in Q4 due to one-offs; if such costs recur, margins could be impacted.
Key quotes
- Goldium is tariff agnostic and the recent increase in custom duty in India on gold to 15% will not have any material impact on gold's operations, financial performance or profitability.
- We have crossed a 1,00 K milestone in revenue which is an important milestone in our journey.
- The dual casting method that we are operating for our United States business is making Goldium tariff agnostic and providing us the opportunity to leverage strong manufacturing network in America in order to further enhance the margin profile for the company.
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