Goldiam International Limited (GOLDIAM)

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Goldiam International Limited (GOLDIAM) · mywealthgrid

About

Goldiam operates in premium gems, jewellery and watches. Market cap ₹4,100+ Cr with strong profitability (20.91% OPM, 18.48% ROE). Recent financials show capital returns via dividends and bonus, though margins have compressed in select recent quarters.

Face value: ₹2

Market cap

₹3,509 Cr

P/E

16.6×

P/B

3.2×

Dividend yield

1.5%

ROE

18.5%

ROCE

24.4%

Debt / equity

0.03

OPM

20.9%

EPS (TTM)

₹18.7

Book value

₹98.0

52-week high

—

52-week low

Key insights

Company research notes and source-linked reviews

Key risks

Margin compression: OPM swings 5.93–22.12% across recent quarters; verify what drives low-margin periods (product mix, gold prices, seasonal, or operational)

Revenue volatility: quarterly revenues range ₹100–320 Cr (2–3x variance); seasonal or operational—verify business model resilience

Commodity exposure: gems and precious metals costs fluctuate sharply; verify hedging practices and cost pass-through ability

Institutional traction: FII 1.99%, DII 0.78% indicate limited analyst coverage—verify liquidity and price discovery efficiency

Generated analysis · source review pending

Growth drivers

Capital efficiency: 18.48% ROE with D/E 0.03 means reinvested earnings compound without leverage drag

Margin expansion potential: low-margin quarters (5.93%, 7.43% OPM) represent 14–15 percentage-point headroom to 20%+ levels—verify drivers of variance

Market recovery: 34.81% 1y return reflects investor re-rating; verify if fundamental earnings growth or multiple expansion and whether durable

Dividend sustainability: four dividends in ~two years indicate strong cash generation; verify if capex or working capital needs constrain future returns

Generated analysis · source review pending

2,528 historical price candles were omitted because the exchange source has not been verified.

₹310.8-3.7%1Y

Quick read

rule-based

Pros

+High return on capital employed of 22.9%
+Healthy operating margin of 20.9%
+Profit CAGR of 20.5% over the last 5 years
+Revenue CAGR of 19.2% over the last 5 years
+Almost debt-free (debt/equity 0)
+Comfortable interest coverage of 71.2×
+Dividend payout of 25.4% of profit

Cons

−Promoter holding fell 3.4 pts over the last year

Research score

Structured signal from quality, growth, valuation and momentum.

80/100

Business quality: 74
Growth

Revenue & net profit

₹ crore, by fiscal year

RevenuePAT

Margins

% of revenue, by fiscal year

OPMPAT margin

Peers

Comparable companies from the narrowest available industry classification.

Part ofNIFTY MICROCAP 250 NIFTY TOTAL MARKET

Screen this industry Compare top 5 side-by-side

Company	Mkt Cap	EV	Revenue	EBITDA	OPM	PAT	NPM	ROCE	ROE	WC Days
Kalyan Jewellers India LimitedKALYANKJILKALYANKJIL	₹54,578 Cr	₹55,102 Cr	₹39,063 Cr	₹2,616 Cr	7%	₹1,435 Cr	3.8%	31.5%	24.3%	136
Lalithaa Jewellery Mart LimitedLALITHAALALITHAA	₹21,708 Cr	₹23,312 Cr	₹25,024 Cr	₹1,674 Cr	6.7%	₹1,010 Cr	4%	54.3%	41.6%	—
Thangamayil Jewellery LimitedTHANGAMAYLTHANGAMAYL	₹15,118 Cr	₹15,943 Cr	₹9,606 Cr	₹621 Cr	6.6%	₹391 Cr	4.1%	39.1%	27.9%	142
Sky Gold And Diamonds LimitedSKYGOLDSKYGOLD	₹12,557 Cr	₹13,426 Cr	₹7,176 Cr	₹520 Cr	6.9%	₹343 Cr	4.5%	45.9%	29.3%	77
Pc Jeweller LimitedPCJEWELLERPCJEWELLER	₹12,449 Cr	₹13,522 Cr	₹3,505 Cr	₹785 Cr	20%	₹775 Cr	21.3%	11.7%	9.9%	1,082
Bluestone Jewellery And Lifestyle LimitedBLUESTONEBLUESTONE	₹12,008 Cr	₹12,753 Cr	₹2,681 Cr	₹442 Cr	16%	₹56 Cr	0.5%	9.8%	1.1%	659
P N Gadgil Jewellers LimitedPNGJLPNGJL	₹7,897 Cr	₹9,477 Cr	₹11,438 Cr	₹669 Cr	5.7%	₹446 Cr	3.8%	34.3%	23.3%	121
Timex Group India LimitedTIMEXTIMEX	₹7,368 Cr	₹7,370 Cr	₹419 Cr	₹32 Cr	7.7%	₹21 Cr	5%	32.7%	29.4%	—
Ethos LimitedETHOSLTDETHOSLTD	₹6,785 Cr	₹6,786 Cr	₹1,728 Cr	₹223 Cr	12.9%	₹106 Cr	6%	10.4%	7.7%	180
Senco Gold LimitedSENCOSENCO	₹5,199 Cr	₹6,769 Cr	₹9,660 Cr	₹999 Cr	11.5%	₹571 Cr	6.8%	38%	25.6%	259
Kddl LimitedKDDLKDDL	₹4,811 Cr	₹4,967 Cr	₹2,322 Cr	₹335 Cr	14.3%	₹97 Cr	6.3%	11.9%	8.8%	192
D. P. Abhushan LimitedDPABHUSHANDPABHUSHAN	₹4,273 Cr	₹4,433 Cr	₹2,340 Cr	₹100 Cr	4.3%	₹62 Cr	2.6%	40.8%	29.4%	—

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Financials

Reported profit and loss, balance sheet, cash flow and growth history.

Annual Quarterly

Consolidated Standalone

Consolidated figures · ₹ crore

₹ Cr	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	330	315	319	446	365	406	688	533	603	781	977
COGS	252	—	244	328	273	272	487	353	409	512	648
Gross profit	78	—	75	118	91	134	201	180	194	269	328
	50	288	50	63	48	56	71	76	80	110	124
	28	27	25	55	43	78	130	104	114	160	204
OPM %	8.6%	8.5%	7.9%	12.4%	11.9%	19.3%	18.9%	19.5%	19%	20.4%	20.9%
Depreciation	—	3	3	3	2	4	5	7	6	6	15
Interest	2	2	2	2	1	0	1	0	0	0	3
	15	8	12	18	22	23	25	21	14	20	44
Profit before tax	42	31	33	68	62	97	149	117	122	173	231
Tax	9	11	13	22	17	30	43	32	31	55	60
Tax %	21.3%	33.7%	38.1%	31.7%	27%	31%	28.7%	27.5%	25.6%	32.1%	26.1%
	33	21	20	46	45	67	106	85	91	117	171
PAT margin %	9.9%	6.6%	6.4%	10.4%	12.4%	16.5%	15.4%	16%	15.1%	15%	17.5%
EPS (₹)	13	8.1	11.3	19.1	19.7	30.3	9.6	7.8	8.5	11	15.1
EPS adjusted (₹)	2	1.3	—	—	3.1	4.5	7.3	5.9	6.4	8.2	11.3
	19.2%	24.8%	13.3%	15.7%	32.9%	26.4%	37.5%	25.6%	14.1%	27.3%	—
Annual report	Annual report for Mar 2016	Annual report for Mar 2017	Annual report for Mar 2018	Annual report for Mar 2019	Annual report for Mar 2020	Annual report for Mar 2021	Annual report for Mar 2022	Annual report for Mar 2023	Annual report for Mar 2024	Annual report for Mar 2025	—

₹ Cr	Mar 2016	Mar 2017	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity capital	25	25	22	22	22	22	21	21	23
Reserves	256	278	—	443	498	564	609	719	1,083
Minority interest	—	—	—	16	6	6	5	5	5
	48	31	—	22	3	0	0	9	32
	94	92	—	110	104	113	99	140	219
Total equity & liabilities	422	426	—	614	632	705	734	894	1,363
	23	22	20	41	39	43	40	60	93
CWIP	2	2	—	0	0	0	0	0	0
Investments	—	—	—	221	142	153	168	106	182
	398	402	—	352	452	509	526	727	1,087
Total assets	422	426	—	614	632	705	734	894	1,363

Segment results

As reported in NSE results XBRL. Segment result is before tax and finance costs. ROCE uses that annual result divided by segment assets less liabilities.

Source XBRL ↗

Latest reported period · 31 Mar 2026 · ₹ crore

Segment	Revenue	Result	Assets	Liabilities	Capital employed	ROCE %
Jewellery	1,013.97	248.36	655.86	215.61	440.25	56.41
Investments	-11.08	-11.34

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Ratios

Annual operating, return, leverage and working-capital ratios.

Consolidated Standalone

Consolidated figures

Ratio	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Margins
Gross margin %	26.4%	25%	33.1%	29.3%	33.8%	32.2%	34.5%	33.6%
EBITDA margin %	12.4%	11.9%	19.2%	18.9%	19.5%	19%	20.4%	20.9%
EBIT margin %	11.8%	11.2%	18.3%	18.1%	18.1%	18%	19.6%	19.4%
PAT margin %	10.4%	12.4%	16.5%	15.4%	16%	15.1%	15%	17.5%
Working capital
Receivable days	—	—	116	95	101	86	70	65
Inventory days	—	—	144	133	257	199	277	328
Payable days	—	—	125	52	93	60	53	60
NWC days	—	—	135	176	264	225	294	333
Leverage
Current ratio	—	—	4.06	5.52	6	7.32	6.49	5.94
Debt to EBITDA	—	—	0.29	0.02	0	0	0.05	0.16
Debt to equity	—	—	0.05	0.01	0	0	0.01	0.03
Interest coverage	30.4	57.9	272.3	219.6	1,175.7	4,071	480.2	71.2
Asset turnover	—	—	0.66	1.09	0.76	0.82	0.87	0.72
Return ratios
Return on assets %	—	—	10.9%	16.8%	12.1%	12.4%	13.1%	12.5%
Return on capital employed %	—	—	16.9%	29.5%	20.8%	19.7%	24.6%	24.4%
Return on equity %	—	—	14.4%	20.4%	14.5%	14.4%	15.8%	15.4%

Derived from reported annual statements. ROCE uses EBIT over capital employed (total assets less current liabilities). Day counts average the opening and closing balance; receivables turn on revenue, inventory and payables on cost of goods sold.

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Shareholding

Quarterly ownership, named holders, insider transactions and disclosed deals.

Quarterly Annual

Every quarter filed · % of equity

Holder (%)	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	66.6%	64.26%	64.26%	64.26%	63.32%	62.38%	62.06%	61.87%	58.51%	58.51%	58.51%	58.51%
	0.01%	0%	0.07%	0.16%	0.57%	0.75%	1.35%	0.88%	1.47%	0.74%	0.62%	1.99%
	0%	0%	0%	0%	0%	0.36%	0.68%	0.91%	1.14%	1.1%	0.95%	0.78%
	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%
	33.39%	35.74%	35.67%	35.58%	36.11%	36.51%	35.91%	36.34%	38.88%	39.65%	39.92%	38.72%
No. of shareholders	—	—	—	—	—	—	—	—	82,867	82,571	83,563	75,143

Promoter holding down 8.09 percentage points since Sep 2023.

13 deals · 8 Dec 2023 – 25 Mar 2026

Date	Client	Type	Venue	Side	Quantity	Price	Value
25 Mar 2026	DHWAJA SHARES & SECURITIES PVT LTD	Bulk	NSE	Sell	7,00,000	₹294.15	₹20.59 Cr
25 Mar 2026	ANANDPARA PROPERTIES	Bulk	NSE	Buy	7,00,000	₹294.25	₹20.60 Cr
30 Dec 2025	DHWAJA SHARES & SECURITIES PVT LTD	Bulk	NSE	Sell	6,50,000	₹354.63	₹23.05 Cr
11 Apr 2025	SETU SECURITIES PVT LTD	Bulk	NSE	Sell	5,44,815	₹326.51	₹17.79 Cr
11 Apr 2025	SETU SECURITIES PVT LTD	Bulk	NSE	Buy	4,48,311	₹326.53	₹14.64 Cr
7 Jan 2025	HRTI PRIVATE LIMITED	Bulk	NSE	Buy	6,74,273	₹472.14	₹31.84 Cr
7 Jan 2025	HRTI PRIVATE LIMITED	Bulk	NSE	Sell	5,84,416	₹472.94	₹27.64 Cr
3 Sept 2024	RASHESH BHANSALI	Bulk	NSE	Sell	10,00,000	₹340.00	₹34.00 Cr
13 Aug 2024	QE SECURITIES LLP	Bulk	NSE	Sell	6,12,885	₹225.98	₹13.85 Cr
13 Aug 2024	QE SECURITIES LLP	Bulk	NSE	Buy	5,78,627	₹225.02	₹13.02 Cr

1–10 of 13

1 / 2

Bulk deals are a client trading over 0.5% of the equity in a session, aggregated across their trades; block deals are single negotiated trades in the exchange’s block window. Each is reported by the exchange it was crossed on, so NSE and BSE rows are separate trades rather than the same trade twice.

Mr. Rashesh Manharbhai BhansaliExecutive Director-Chairperson
Darshana J. PatelChief Financial Officer (CFO)
Mr. Pannkaj C GhadialiNon-Executive - Independent Director
Mrs. Tulsi GuptaNon-Executive - Non Independent Director
Mr. Anmol Rashesh BhansaliExecutive Director-MD
Mrs. Nipa Utpal ShethNon-Executive - Independent Director
Mrs. Ruchi Shrinath PandyaNon-Executive - Independent Director
Mr. Pankaj Jayantilal ParkhiyaCompany Secretary & Compliance Officer

Current officeholders as filed with BSE. A person holding two offices is listed once per office.

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F&O

Current futures and options contracts with compact option-chain pages.

Not in the F&O segment

Only about 210 stocks have listed futures and options. Contracts appear here for those, refreshed after each close.

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Fund holders

Mutual-fund schemes that disclosed a holding in the company.

Portfolio month

Schemes holding

across 1 fund houses

Held by these funds

of the company's equity

All mutual funds

shareholding pattern, Jun 2026

Portfolios as of

August 2026

compared with July 2026

1 schemes

		Shares
(Investment Manager for Motilal Oswal Mutual Fund)	Motilal Oswal Mutual Fund	179	0.01	0.01%	0%	+1

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Documents

Annual reports, exchange filings, offer documents, ratings and earnings-call material.

Announcements

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Events

Upcoming dates and the company’s corporate-action history.

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Announcements

Latest exchange announcements, filings and downloadable documents.

1 month 3 months 6 months 1 year All

139 announcementsExport CSV

29 Sept 2026, 6:27 pmAGM/EGM

Shareholder Meeting / Postal Ballot-Scrutinizer''s Report

AGM PDF

29 Sept 2026, 6:24 pmAGM/EGM

Shareholder Meeting / Postal Ballot-Outcome of AGM

AGM PDF

19 Sept 2026, 2:30 pmCompany Update

Intimation Under Regulation 30 Of The SEBI (Listing Obligations And Disclosure Requirements) Regulations ("SEBI LODR Regulations")

General PDF

19 Sept 2026, 10:59 amCompany Update

Intimation Under Regulation 30 (Para 20 Of Part A Of Schedule III)Of SEBI (Listing Obligations And Disclosure Requirements) Regulations, 2015 - Receipt Of Property Tax Notice From BMC.

General PDF

8 Sept 2026, 12:53 pmCompany Update

Announcement under Regulation 30 (LODR)-Award_of_Order_Receipt_of_Order

Award of Order / Receipt of Order PDF

5 Sept 2026, 12:21 pmCompany Update

Announcement under Regulation 30 (LODR)-Newspaper Publication

Newspaper Publication PDF

4 Sept 2026, 3:37 pmCorp. Action

Book Closure Details For The Purpose Of 39Th Annual General Meeting

Book Closure PDF

4 Sept 2026, 3:32 pmAGM/EGM

Intimation Of 39Th Annual General Meeting For The Financial Year 2025-26

AGM PDF

Date	Category	Subject	Filing
29 Sept 2026, 6:27 pm	AGM/EGM AGM	Shareholder Meeting / Postal Ballot-Scrutinizer''s Report	PDF
29 Sept 2026, 6:24 pm	AGM/EGM AGM	Shareholder Meeting / Postal Ballot-Outcome of AGM	PDF

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Ratio	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Margins
Gross margin %	26.4%	25%	33.1%	29.3%	33.8%	32.2%	34.5%	33.6%
EBITDA margin %	12.4%	11.9%	19.2%	18.9%	19.5%	19%	20.4%	20.9%
EBIT margin %	11.8%	11.2%	18.3%	18.1%	18.1%	18%	19.6%	19.4%
PAT margin %	10.4%	12.4%	16.5%	15.4%	16%	15.1%	15%	17.5%
Working capital
Receivable days	—	—	116	95	101	86	70	65
Inventory days	—	—	144	133	257	199	277	328
Payable days	—	—	125	52	93	60	53	60
NWC days	—	—	135	176	264	225	294	333
Leverage
Current ratio	—	—	4.06	5.52	6	7.32	6.49	5.94
Debt to EBITDA	—	—	0.29	0.02	0	0	0.05	0.16
Debt to equity	—	—	0.05	0.01	0	0	0.01	0.03
Interest coverage	30.4	57.9	272.3	219.6	1,175.7	4,071	480.2	71.2
Asset turnover	—	—	0.66	1.09	0.76	0.82	0.87	0.72
Return ratios
Return on assets %	—	—	10.9%	16.8%	12.1%	12.4%	13.1%	12.5%
Return on capital employed %	—	—	16.9%	29.5%	20.8%	19.7%	24.6%	24.4%
Return on equity %	—	—	14.4%	20.4%	14.5%	14.4%	15.8%	15.4%

₹ Cr	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	59	0	-15	86	67	49	-10	65	107	-13	24
	9	-4	27	-11	-24	-12	95	-15	-28	63	-71
	-45	-15	4	-41	-52	-0	-90	-31	-54	-13	171
Net cash flow	22	-19	16	34	-9	37	-5	19	26	37	124
Free cash flow	56	-2	-17	83	65	19	-13	56	100	-20	8
CFO / Operating profit %	207.9%	0.2%	-58.8%	155.8%	155%	62.8%	-7.5%	62.8%	93.6%	-8.1%	11.6%

Goldiam International Limited

About

Key insights

Key risks

Growth drivers

Quick read

Pros

Cons

Research score

Revenue & net profit

Margins

Peers

Financials

Segment results

Ratios

Shareholding

F&O

Not in the F&O segment

Fund holders

Documents

Announcements

Events

Announcements

Not in the F&O segment

Announcements

Annual reports

Investor Presentation and earnings call

28

1

1

Segment results

Compounded sales growth

Compounded profit growth

Return on equity

INVESTMENT · revenue

Goldiam International Limited

About

Key insights

Key risks

Growth drivers

Quick read

Pros

Cons

Research score

Revenue & net profit

Margins

Peers

Financials

Profit & loss

Balance sheet

Segment results

Ratios

Ratio timeline

Shareholding

Quarterly record

Bulk & block deals

Board and management

F&O

Not in the F&O segment

Fund holders

Documents

Announcements

Events

Announcements

Ratio timeline

Quarterly record

Bulk & block deals

Board and management

Not in the F&O segment

Announcements

Annual reports

Investor Presentation and earnings call

Dividends28

Board meetings1

Stock splits1

Profit & loss

Balance sheet

Segment results

Cash flow

Compounded returns

Compounded sales growth

Compounded profit growth

Return on equity

INVESTMENT · revenue

28

1

1