Manufactures and exports gold jewellery studded with lab-grown diamonds from a Special Economic Zone (SEZ) facility, primarily to US retailers. The Jewellery segment, which covers B2B manufacturing for international clients, generated ₹1,013.97 crore of segment revenue in FY26 with a 24.5% EBIT margin; lab-grown diamonds made up 88.3% of Q4 export sales. A hybrid US+India casting model is being used to expand margins, with management citing 200-300 basis points of incremental gross margin benefit. Direct-to-consumer expansion in India runs through the ORIGEM retail brand selling lab-grown diamond jewellery — 25 stores were open as of June 2026, up from 24 at FY26 end, with a target of 45-50 stores by FY27 exit and a target exit run-rate of about ₹7 crore of monthly revenue. Materials (gold and lab-grown diamonds) make up 56.6% of revenue, making raw input prices the dominant cost. The Investments segment reflects fair-value movements on treasury holdings and is not a core operating activity. AR · MarketPing reader · 2026-08-03
Revenue streams, as the annual report describes them. Jewellery (101%), Investments ((1)%). Export-oriented, SEZ-based jewellery manufacturer of lab-grown diamond studded gold jewellery with a growing captive India retail brand.
| ₹ crore · consolidated | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Revenue | 688 | 533 | 603 | 781 | 977 |
| EBITDA (ex other income) | 130 | 104 | 114 | 160 | 204 |
| margin % | 18.9 | 19.5 | 19.0 | 20.4 | 20.9 |
| Owners' profit | 0 | 0 | 91 | 0 | 0 |
| EPS, as reported (₹) | 9.61 | 7.82 | 8.51 | 10.97 | 15.11 |
| ROE % · ROCE % | 20.1 · 28.1 | 14.4 · 19.6 | 14.3 · 19.0 | 15.7 · 22.6 | 15.4 · 20.3 |
| Debt / equity (x) | 0.01 | 0.00 | 0.00 | 0.01 | 0.03 |
| Cash from operations | (10) | 65 | 107 | (13) | 24 |
| Capex | (4) | (9) | (7) | (7) | (16) |
| ₹ crore | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 137 | 280 | 199 | 230 | 193 | 320 | 235 | 326 |
| Profit before tax | 33 | 69 | 38 | 45 | 46 | 89 | 51 | 97 |
| Net profit | 22 | 50 | 23 | 34 | 31 | 68 | 37 | 74 |
| EPS (₹) | 2.07 | 4.66 | 2.17 | 3.15 | 2.60 | 6.06 | 3.30 | 6.55 |
| Segment | Revenue, ₹ crore | Share % |
|---|---|---|
| Jewellery | 1,014 | 101.1 |
| Invements | 5 | 0.5 |
| Total, before eliminations | 1,018 | 100.0 |
| Company | M.cap ₹ cr | P/E | P/B | EV/EBITDA | ROE % | ROCE % | Rev CAGR 5y % | EBITDA m. % |
|---|---|---|---|---|---|---|---|---|
| TITAN COMPANY LIMITED | 4,44,743 | 77.5 | 28.32 | 51.7 | 32.3 | 32.7 | 32.3 | 14.2 |
| KALYAN JEWELLERS IND LTD | 62,083 | 43.3 | 9.84 | 23.4 |
| Date · filing | Category | Importance | 1-day % | 5-day % |
|---|---|---|---|---|
| 8 Sept 2026 · Goldiam International wins Rs 60 crore export orders from USA clients | business updates | high | — | — |
| 5 Sept 2026 · Newspaper publication for dispatch of 39th AGM Notice | compliance | minimal | — | — |
| 4 Sept 2026 · Book Closure from Sep 25 to Sep 29 for 39th AGM | compliance | minimal | — | — |
| 4 Sept 2026 · Goldiam International 39th AGM on September 29, 2026 via video conferencing | board shareholder meetings | low | — | — |
| 4 Sept 2026 · Goldiam files BRSR for FY 2025-26 with exchanges | compliance | minimal | — | — |
| 4 Sept 2026 · Intimation of 39th AGM on September 29, 2026 via video conferencing | board shareholder meetings | low | — | — |
| 2 Sept 2026 · Board Meeting Outcome on September 2, 2026 | board shareholder meetings | low | — | — |
| 31 Aug 2026 · Newspaper reminder about IEPF share transfer | compliance | minimal | — | — |
| 29 Aug 2026 · Goldiam International to meet Guardian Capital Partners on Sept 3 | board shareholder meetings | low | — | — |
| 29 Aug 2026 · Goldiam International: Newspaper notice for 39th AGM | compliance | minimal | — | — |
| Where a broker report shows | This document shows | Why |
|---|---|---|
| A rating (BUY / ADD / REDUCE / SELL) | A state: the latest filed quarter and the measured reactions | an event is a fact; a rating is an opinion that requires SEBI RA registration |
| 21.4 |
| 22.1 |
| 33.0 |
| 6.5 |
| THANGAMAYIL JEWELLERY LTD | 15,910 | 40.7 | 11.24 | — | 24.8 | 30.3 | — | 5.4 |
| BLUESTONE JEWEL LFSTL LTD | 13,640 | 268.8 | 7.57 | 32.5 | 0.7 | 0.7 | — | 16.7 |
| PC JEWELLER LTD | 13,342 | 13.9 | 1.63 | 16.5 | 8.7 | 8.6 | 3.5 | 27.8 |
| SKY GOLD AND DIAMONDS LTD | 12,822 | 38.2 | 10.63 | 29.1 | 23.4 | 29.8 | — | 8.2 |
| P N GADGIL JEWELLERS LTD | 8,307 | 18.6 | 4.23 | 14.1 | 20.9 | 26.1 | — | 8.0 |
| ETHOS LIMITED | 7,118 | 67.7 | 4.28 | 27.7 | 5.8 | 7.0 | — | 16.2 |
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/E (TTM) | 17.7 | 23.4 | 12 of 29 | 61% |
| P/B | 3.3 | 2.8 | 17 of 28 | 41% |
| ROCE | 20.0 | 16.7 | 12 of 28 | 59% |
| ROE | 15.3 | 14.6 | 14 of 28 | 52% |
| Debt / Equity | 0.0 | 0.3 | 3 of 28 | 93% |
| EBITDA margin | 31.9 | 10.7 | 3 of 30 | 93% |
| Revenue growth | 41.9 | 45.7 | 14 of 25 | 46% |
| Profit growth | 120.1 | 49.8 | 4 of 25 | 88% |
| Market cap | 3704 | 2587 | 12 of 30 | 62% |
| A target price and upside | The current price and the multiples against the group | a target is a forecast; a multiple is a measurement |
| Estimate years marked E | More audited years; no estimates | MarketPing publishes no forecasts — your own model lives on the Models page |
This document is a statistical summary of publicly filed information and market data, prepared by software from primary sources: SEBI results XBRL filed with BSE and NSE, LODR disclosures, shareholding patterns, exchange price data. It contains no research recommendation, no price target and no opinion on the merits of any security, and is not a research report within the meaning of the SEBI (Research Analysts) Regulations, 2014, Regulation 2(1)(w)(vii). Financial statements are as filed (consolidated where the company files consolidated results). Ratios are computed over filed lines. Where a figure is unavailable the table shows a dash rather than an estimate. The business brief is written by MarketPing's reader from the annual report and checked against it; no figure in a table was generated by a model. Nothing here constitutes investment advice, an offer or a solicitation; readers should consult a SEBI-registered adviser before acting. MarketPing is not a SEBI-registered intermediary.
