Editor’s Note
This article highlights Goldiam International’s strong financial performance for Q3 FY2026 and the nine-month period ending December 2025. The results have generated significant positive attention from the investor community.
Goldiam International Ltd. has delighted its investors with its results for Q3 FY2026 and the nine months ended December 31, 2025.
The company’s consolidated revenue jumped 18% year-on-year (YoY) to reach ₹3,397 million. Meanwhile, Profit After Tax (PAT) saw a robust surge of 37% to ₹684 million. EBITDA also grew by 28.2% to ₹908 million. The EBITDA margin improved to 26.7%, an improvement of 210 basis points compared to the previous year. Diluted Earnings Per Share (EPS) increased by 31.8% to ₹6.14.
In the first nine months of this financial year, the company’s revenue increased by 29.8% to ₹7,773.4 million. PAT reached ₹1,333.6 million, marking a tremendous increase of 42%. EBITDA rose by 32.7% to ₹1,852.9 million, while the EBITDA margin improved by 51 basis points to 23.8%. The nine-month EPS increased by 38% to ₹12.14.
Lab-grown diamond (LGD) jewelry made a significant contribution to the company’s growth. In Q3 FY2026, 90.5% of export sales came from LGD jewelry. Meanwhile, online revenue accounted for 31.6% of the total quarterly revenue. As of December 31, 2025, approximately 65% of finished jewelry inventory was with customers, indicating efficient inventory management. The order book as of this date was around ₹1,800 million.
Management believes there is significant growth potential in the B2B export business, which includes strengthening relationships with existing clients and adding new large retailers in the USA. There are also plans to expand into new markets such as Europe, the Middle East, and Australia.
In the B2C segment, the company is rapidly expanding its lab-grown diamond brand, ORIGEM. In Q3 FY2026, ORIGEM recorded revenue of ₹56.5 million. The company has signed Letters of Intent (LOI) for 20 more ORIGEM stores and plans to open 12-14 new stores by the end of March 2026. The target is a total of 24-26 stores by the end of this financial year. Preparations are underway to open 15 more stores in the first half of the next financial year. The strategy for ORIGEM is focused on selective locations, especially malls.
The company’s Board of Directors has recommended an interim dividend of ₹2.75 per share, with a face value of ₹2. This demonstrates the company’s strong profitability.
Investors will keenly watch the execution of ORIGEM’s ambitious store expansion plan. ORIGEM’s mall-based strategy could be a challenge in India’s competitive retail market. For the B2B segment, geopolitical factors such as international trade and currency fluctuations remain potential risks. The coming quarters will be watched for sustained growth in LGD sales and the company’s performance in new geographical markets.