Q2 2026 Goldiam International Ltd Earnings Call Transcript
Key Points
- Goldiam International Ltd (BOM:526729) reported a significant revenue growth of 43% year-over-year for Q2 FY26, despite facing challenges in the jewelry export sector.
- The company successfully mitigated the impact of increased US tariffs by implementing a US origin casting model, which minimized tariff exposure.
- Lab-grown diamond jewelry exports contributed 90% to the B2B sales in Q2 FY26, indicating strong market penetration in this segment.
- Goldiam's order book position as of September 30 was approximately INR200 crores, reflecting a healthy demand outlook.
- The company raised INR202 crores through a QIP to accelerate the expansion of its India-focused B2C lab-grown diamond jewelry retail brand, ORIGEM, which now operates 11 stores.
- The US imposed hefty tariffs on Indian jewelry exports, increasing from 16% to 56%, which posed significant challenges for Goldiam International Ltd (BOM:526729).
- The transition to a US casting model increased operational complexity and required additional investment in inventory, impacting the company's operational efficiency.
- Despite the festive season, ORIGEM's Q2 retail sales were lower than Q1, indicating potential challenges in achieving consistent sales growth.
- The company's inventory levels increased sharply in Q2, partly due to the new US casting model, which may affect cash flow management.
- Goldiam International Ltd (BOM:526729) faces potential competition from large players entering the lab-grown diamond segment, which could impact market share and pricing strategies.
Good day, and welcome to Goldiam International Q2 FY26 earnings conference call hosted by Monarch Networth Capital Limited. This conference call may contain forward-looking statements about the company, which are based on the beliefs, opinions and expectations of the company as on date of this call. These statements are not the guarantees of future performance and involve risks and uncertainties that are difficult to predict. (Operator Instructions) Please note that this conference is being recorded.
I now hand the conference over to Mr. Rahul Dani from Monarch Networth Capital Limited. Thank you, and over to you, sir.
Yes. Thank you, Shikha. Good afternoon, everyone. On behalf of Monarch Networth Capital, we're delighted to host the senior management of Goldiam International. We have with us Mr. Rashesh Bhansali, Executive Chairman; and we have Anmol Bhansali, Managing Director of the company. We will start the call with opening remarks from the management and then move to Q&A. Thank you, and over
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