Other Apparels & Accessories company Goldiam International announced consolidated FY23 results:
- During FY23, the consolidated revenue decreased by 22% to Rs 5,543 million. Lab-grown Diamond & Jewellery sales have been consolidating to 23% in FY23.
- EBITDA for FY23 fell by 19% YoY owing to destocking by large US retailers and Goldiam partnering with key retailers in inventory realignment exercise by running strategic discount programs. However, EBITDA margins remained healthy at 22.5% due to a good mix of lab-grown diamond business and online business.
- PAT for FY23 stood at Rs 853 vis-à-vis Rs 1,060 million in FY22. The Cash profit for FY23 stood at Rs 926 million vis-à-vis Rs 1,113 million in FY22.
- Goldiam has an order book size of Rs 1,000 million. This order book is expected to be executed in the next four-six months. E-commerce sales, given their nature of being booked online (on a spot basis), are not part of the order book.
- The company’s Cash & Cash Equivalents (including investments) stood at Rs 2,568 million as on March '23.
- The company has already distributed dividends to the tune of Rs 217.95 million during FY23 and has now proposed a buyback of Rs 326.92 million, up to 2% of the equity of the company to be bought back.