Goldiam International Limited has successfully passed its quarterly monitoring review for the utilization of proceeds from its Rs. 202.05 crore Qualified Institutional Placement (QIP), according to a report issued by CARE Ratings Limited for the quarter ended December 31, 2025.

QIP Utilization Overview

The monitoring agency confirmed that all proceeds utilized during Q3FY26 were in accordance with disclosures made in the placement document. The company has maintained transparency in fund deployment while ensuring optimal returns on unutilized amounts.

Fund Deployment Progress

The primary objective of the QIP is funding expenditure towards setting up 63 new brand-exclusive stores across India, with a total allocation of Rs. 194.96 crore. During Q3FY26, the company made significant progress in this initiative.

Store Expansion Activities

The company has opened 13 new retail stores till January 07, 2026, and signed MoUs for 19 additional stores planned for the coming months, progressing toward its target of 63 stores.

Investment of Unutilized Proceeds

CARE Ratings noted that Rs. 183.97 crore of unutilized proceeds have been strategically invested across various instruments to generate returns while maintaining liquidity for future deployment.

Investment Portfolio Breakdown

Regulatory Compliance and Approvals

The monitoring report confirmed that the company has obtained all necessary government and statutory approvals related to the project objectives. Board resolution dated August 11, 2025, authorized the management to invest unutilized QIP proceeds in creditworthy instruments until required for deployment.

Risk Factors and Market Considerations

CATE Ratings highlighted that the company derived approximately 99% of its sales in FY25 from exports, with the US contributing more than 95% of revenue. The monitoring agency noted that potential imposition of additional import tariffs on India could impact the company's performance in coming quarters.

The report also mentioned that Rs. 29.43 crore of unutilized proceeds have been invested in non-convertible debentures with maturities extending beyond the timeline specified in the placement document, though the company clarified these are listed instruments that can be liquidated within 2-3 working days.

Implementation Timeline

According to the placement document, the company plans to deploy Rs. 85.19 crore by March 31, 2026, and Rs. 110.01 crore by March 31, 2027. As of December 31, 2025, Rs. 13.44 crore has been utilized against the first milestone, indicating steady progress toward the implementation schedule.

The monitoring report found no deviations from the stated objectives and confirmed that shareholder approval requirements were not applicable as no material deviations occurred during the quarter.

Source: Exclusive

Goldiam International Limited has announced its Q3FY26 quarterly results under Regulation 33 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The integrated manufacturer and supplier of fine diamond jewellery reported strong financial performance for the quarter ended December 31, 2025, demonstrating robust growth across key metrics despite challenging market conditions.

Board Meeting and Financial Results Approval

The Board of Directors convened on February 7, 2026, from 1:00 pm to 1:35 pm, to consider and approve the unaudited standalone and consolidated financial results for Q3FY26. The Statutory Auditors conducted a limited review of the unaudited financial results, with the Audit Committee recommending approval of the quarterly performance.

Strong Financial Performance in Q3FY26

The company's consolidated financial results showcase impressive growth momentum. Revenue from operations reached ₹3,397 million in Q3FY26, marking an 18% year-on-year increase from ₹2,880 million in Q3FY25. This growth was driven by strong festive season demand in the US market, which helped offset concerns about potential tariff impacts.

Profitability metrics showed even stronger improvement, with EBITDA growing 28.2% to ₹908 million and EBITDA margin expanding to 26.7%. Net profit after tax surged 37% to ₹684 million, reflecting the company's operational efficiency and strong demand for its products.

Nine-Month Performance Highlights

The nine-month performance for FY26 further reinforced the company's strong trajectory. Consolidated revenue for the period reached ₹7,773.4 million, representing a robust 30% year-on-year growth. EBITDA for 9M FY26 grew 32.7% to ₹1,853 million with margin improvement to 23.8%.

The company maintained a strong balance sheet with cash and cash equivalents (including investments) of ₹5,041.3 million as at December 31, 2025. The order book position stood at approximately ₹1,800 million, providing visibility for future revenue.

Interim Dividend Declaration

The Board of Directors approved a first interim dividend of ₹2.75 per equity share (face value ₹2), representing 137.50% of face value. The record date has been fixed as February 12, 2026, with dividend payments commencing from February 24, 2026.

Product Mix and Market Positioning

Lab grown diamond jewellery exports dominated the company's sales mix, contributing 90.5% to overall export sales during Q3FY26, compared to 80% in the same quarter last year. This shift reflects the growing market acceptance and demand for lab grown diamond products. Online revenue contribution witnessed significant growth, accounting for 31.6% of total revenue during the quarter.

The company's inventory management strategy showed strong execution, with about 65% of finished jewellery inventory positioned with customers as finished stock to be sold in subsequent months. This approach helps maintain strong customer relationships and ensures steady revenue flow.

ORIGEM Brand Expansion Update

The company's B2C lab grown diamond jewellery brand ORIGEM recorded revenue of ₹56.5 million during Q3FY26. The brand signed Letters of Intent for 20 additional stores across major Indian cities including Bengaluru (3 stores), Gurgaon (4 stores), Jaipur (2 stores), and others.

Goldiam plans to open additional 12-14 ORIGEM stores by March 2026, taking the total count to about 24-26 operational stores by the end of the current financial year. During the first six months of the next fiscal, the company plans to open about additional 15 stores.

Investor Presentation Release

Pursuant to Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the company has released a comprehensive investor presentation on financial results for the quarter and nine months ended December 31, 2025. The presentation was signed by Company Secretary & Compliance Officer Pankaj Parkhiya on February 7, 2026.

Source: Company Filings