Goldiam International hits 52-week high, new contract pushes order book over Rs 200 crore

Goldiam International is engaged in the manufacturing and export of diamond-studded gold and silver jewellery.

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Shares of Goldiam International rose as much as 5.7 percent to hit a 52-week high of Rs 355 after the company informed the exchanges that it has secured export orders worth Rs 70 crores from a US retailer for diamond-studded gold jewellery, a majority of which involves lab-grown diamonds.

The stock has gained over 82 percent in the past six months, outperforming the Nifty 50 index which gained 12 percent during the same period.

This new order represents a significant milestone for the company, pushing its total order book to over Rs 200 crores. "What makes this achievement even more noteworthy is that the majority of these orders are for lab-grown diamonds, reflecting the growing demand for sustainable and innovative jewellery solutions," the company said in a filing.

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These export orders are expected to be fulfilled by the end of December 2024.

The company also emphasised that the Rs 200 crore order book figure does not include online sales, indicating the strength of its traditional business channels.

Goldiam International is engaged in the manufacturing and export of diamond-studded gold and silver jewellery. The company is a fully integrated original equipment manufacturer (OEM) partner for retailers.

Also Read | Goldiam International: Glittering growth prospects

Goldiam International exports its diamond products to the US, Europe, and other countries. Its subsidiaries include Goldiam Jewellery Ltd, Diagold Designs Ltd, Eco-Friendly Diamonds LLP, and Goldiam USA, Inc.

The company reported net sales of Rs 165.8 crore for June 2024, marking a 38.4 percent increase compared to Rs 119.8 crore in June 2023. The company's quarterly net profit stood at Rs 22 crore for June, reflecting a 27.6 percent rise from Rs 17.3 crore in the same period last year.

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