Ramesh Damani-Backed Smallcap Company Secures International Order Worth Rs 70 Crore; Order Book Reaches All-Time High of Rs 200 Crore!

The company’s shares have delivered an impressive return of around 105 per cent in just 3 months.

This Small-Cap company has received a new export order worth Rs 70 crore from a major retailer in the USA for diamond-studded gold jewellery. Notably, 80 per cent of these orders are for lab-grown diamond jewellery. With these new orders, the company’s cumulative order book has surpassed Rs 200 crore, marking a significant milestone in the Company’s history.  The order must be executed on or before December 31, 2024.

Incorporated in 1986, Goldiam International Ltd is engaged in manufacturing and exporting gold and diamond jewelry to global retailers. The company has launched a B2B e-commerce website to cater to a new market segment within the US retail jewelry industry. Production is now completed and shipped within 1 week, compared to the previous model where deliveries took 8-10 weeks. The company is targeting small, independent, mom-and-pop jewellers across North America.

Rashesh Manhar Bhansali sold 10,00,000 shares recently, at an average price of Rs 340 per share. The total value of the stake sale amounted to Rs 34 crore. Earlier last year Ace investors Ashish Kacholia and Mukul Mahavir Agrawal also owned a stake in the company which they sold in March and June 2023 respectively. Currently, Ramesh Dhamani holds a 1.58 per cent stake in the company.

Today, the shares of Goldiam International Ltd closed at around Rs 338.80 per share. The company’s current market capitalization stands at Rs 3618.22 crore. Additionally, the shares have delivered a multibagger return of over 165 per cent in the past year.

As per the Quarterly Results, in Q1 FY25, Goldiam International Ltd recorded a revenue of Rs 166 crore representing a growth of 38 per cent YoY from Rs 120 crore. The operating profit for Q1 FY25 stood at Rs 30 crore along with an operating profit margin of 18 per cent. The net profit stood at Rs 22 crore compared to a profit of Rs 17 crore last year same quarter. Looking at the annual performance, the company generated a revenue of Rs 603 crore in FY24. The operating profit for FY24 was Rs 114 crore with a net profit of Rs 91 crore compared to a net profit of Rs 85 crore in FY23.

Disclaimer: The article is for informational purposes only and not investment advice.