Goldiam International Q1FY27 PAT surges 120% to ₹740 Mn on export growth
Goldiam International's Q1FY27 results show a 120% increase in PAT to ₹740 Mn and 54% revenue growth to ₹3,637 Mn, aided by tariff refunds. EBITDA rose 120.5% to ₹1,039 Mn with margins expanding to 28.6%. Lab-grown diamond exports now constitute 90.7% of sales, and the order book stands at ₹2,250 Mn.

*this image is generated using AI for illustrative purposes only.
Goldiam International reported a consolidated net profit of ₹740 million for Q1FY27, a 120% year-on-year increase from ₹336 million in the corresponding period last year. The diamond jewellery manufacturer and exporter achieved this growth through a 54% surge in total revenue to ₹3,637 million, bolstered by strong B2B exports and a significant tariff refund included in other income. The results reflect robust operational efficiency, with EBITDA more than doubling to ₹1,039 million, signaling strong momentum as the company enters the new fiscal year.
The Board of Directors, meeting on August 1, 2026, approved the unaudited standalone and consolidated financial results for the quarter ended June 30, 2026, in compliance with Regulations 30 and 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The results were reviewed by the Audit Committee and subjected to a limited review by the statutory auditors, Pulindra Patel & Co. The company also announced that its 39th Annual General Meeting will be held on September 29, 2026, via video conferencing, with the register of members closed from September 25 to September 29, 2026.
Financial Performance Highlights
Goldiam's top-line growth was driven by increased demand in its core US market. Consolidated revenue from operations stood at ₹3,260.26 million, while total income reached ₹3,636.59 million due to other income of ₹376.33 million, which primarily consisted of tariff refunds. This contrasts with the previous quarter's total income of ₹2,433.47 million and the year-ago quarter's ₹2,356.87 million.
| Metric: | Q1FY27 | Q1FY26 | YoY Change |
|---|---|---|---|
| Total Income: | ₹3,636.59 Mn | ₹2,356.87 Mn | 54% |
| EBITDA: | ₹1,039 Mn | ₹471 Mn | 120.5% |
| EBITDA Margin: | 28.6% | 20.0% | +860 bps |
| Net Profit (PAT): | ₹740 Mn | ₹336 Mn | 120% |
| EPS: | ₹6.55 | ₹3.15 | 107.9% |
The EBITDA margin expanded significantly to 28.6% from 20.0% in Q1FY26, an improvement of 860 basis points. Even after calibrating for the one-time tariff refund, management noted that steady-state EBITDA margins grew by 400 basis points to 24%, indicating underlying operational strength beyond the non-recurring income boost.
Operational Drivers and Segment Insights
Lab-grown diamond jewellery continues to dominate the company's export mix, contributing 90.7% to overall export sales in Q1FY27, up from 87.8% in Q1FY26. Online channels accounted for 19.3% of total revenue, highlighting the growing digital footprint. As of June 30, 2026, the company's order book stood at approximately ₹2,250 million, providing visibility into future quarters. Additionally, about 64% of the finished jewellery inventory was already with customers, scheduled for sale in subsequent months.
Cash and cash equivalents, including investments, remained robust at ₹4,566.70 million as of June 30, 2026. In its domestic retail segment under the brand ORIGEM, the company operates 26 stores. During Q1FY27, ORIGEM recorded revenue of ₹81.56 million across 25 operational stores, introducing new sales enablers such as lab-grown diamond jewellery in 9 KT gold and an old gold exchange scheme.
What the Numbers Show
The disproportionate growth in EBITDA (120.5%) compared to revenue (54%) underscores a favorable shift in cost structure or product mix, further amplified by the tariff refund. While the refund inflated the headline EBITDA margin to 28.6%, the management's disclosure of a 24% steady-state margin suggests that operational efficiencies are also improving. The high proportion of lab-grown diamonds in exports indicates a successful strategic pivot towards this higher-margin segment, reducing dependency on natural diamonds. The strong order book and inventory placement with customers suggest sustained momentum into Q2FY27.
Source: https://lodr-files.dhan.co/lodr-inputs/Company/INE025B01025/67ac08ee-45bd-4d09-b174-7f6070d1e23b.pdf
Historical Stock Returns for Goldiam International
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| +1.58% | +5.70% | +9.61% | +39.33% | +44.47% | +284.64% |
How sustainable is the 24% steady-state EBITDA margin in Q2FY27 now that the one-time tariff refund benefit has been realized?
What is Goldiam's strategy to maintain its competitive edge in the US lab-grown diamond market amidst increasing global supply and potential price erosion?
Will the company accelerate the expansion of its ORIGEM retail footprint to improve domestic revenue contribution relative to exports?


































