Hello Sir,
Hope you are doing well.
Recently, I was watching an episode of Shark Tank India in which the founders of ‘JewelBox’, a jewellery brand from Surat talked about Lab Grown diamond (LGD) jewellery and got funding from all the sharks.
In case you are not aware, there’s already a listed company in India which is one of the largest players in the space of Lab Grown diamond jewellery. It is Goldiam International (NSE – GOLDIAM).
LGDs are chemically, optically and physically identical to earth mined diamonds, but are significantly more affordable. They cost 1/5th to 1/10th of a similar natural diamond.
Below, we have shared interesting insights from the Q3 FY 24 press release and investor presentation of Goldiam International to understand the current situation and the outlook for the company.
Before that, a few days back, we released our new stock recommendation for our Alpha and Alpha + Members
Company’s main growth and profit driving segment has grown more than 10x in terms of sales and profit in the last 10 years. We believe it has the potential to double its PAT in the next 3 yrs
For details on the stock click HERE
Goldiam International – Insights from Q3 FY 24 press release and investor presentation
– Basic numbers
- Goldiam’s Q3 FY24 consolidated revenue at Rs 205 crore increased by 10% Y-o-Y basis
- Goldiam’s Q3 FY24 EBITDA at Rs 43.8 crore increased by 9% Y-o-Y
- EBIDTA margins at 21.3% remained stable in Q3
– LGD
- During the third quarter of FY24, Lab Grown Diamond jewellery exports contributed more than 50% to the overall sales mix
- Lab Grown Diamonds jewellery’s contribution to the revenue mix improved to 51.3% in Q3 compared to 23.5% in Q3 FY23
- Revenue through online sales channel improved to 33.5% during Q3 FY24 compared to 27.3% during Q3 FY23 and 22% in Q2FY24
- Share of online sales for Lab-grown has increased almost 3-fold from 7% in Q3FY23 to 20.6% in Q3FY24
– Order wins
- During Q3, Goldiam had won orders worth Rs 70 crore for the export of gold studded diamond jewellery, bulk of which constituted supply of lab grown diamond jewellery. These orders need to be fulfilled by March 2024
– New Geographies
- During Q3, Goldiam added one more retailer as a client in the USA
- The company will soon start supplying diamond jewellery in Australia as well
- Goldiam is taking significant steps for its foray into India’s B2C market with its own stores to offer Lab Grown Diamond jewellery exclusively
– Other details
- At Goldiam, company is focusing more on producing higher carat diamonds in the range of 3-5 carat through its subsidiary Eco Friendly Diamonds
- Goldiam has built significant cash and cash equivalent position of Rs 318.6 crore
(End)
Disclaimer: This is not a recommendation to buy/sell Goldiam International. The securities quoted are for illustration only and are not recommendatory.
Best Regards,
Ekansh Mittal
Research Analyst
Web: https://www.katalystwealth.
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