Date: November 7, 2026

Financial Results (Consolidated)

Q2 FY27 Performance (Highest-ever Q2)

  • Total Income: ₹2,917 million, up 44% YoY from ₹2,019 million in Q2 FY26
  • EBITDA: ₹736 million, up 55.3% YoY from ₹474 million
  • EBITDA Margin: 25.2%, up 176 bps from 23.5%
  • PAT: ₹494 million, up 58% YoY from ₹314 million
  • PAT Margin: 16.9%, up 141 bps from 15.5%
  • Growth driven by sustained demand from large US retailers

H1 FY27 Performance (Highest-ever H1)

  • Total Income: ₹6,553 million, up 50% YoY from ₹4,376 million in H1 FY26
  • EBITDA: ₹1,775 million, up 87.8% YoY from ₹945 million
  • EBITDA Margin: 27.1%, up 549 bps from 21.6%
  • PAT: ₹1,234 million, up 90% YoY from ₹650 million
  • PAT Margin: 18.8%, up 398 bps from 14.8%

Consolidated Profit & Loss Statement Details

| Particulars (₹ Mn) | Q2FY27 | Q2FY26 | YoY Change | H1FY27 | H1FY26 | YoY Change |

| Total Income | 2,917 | 2,019 | 44% | 6,553 | 4,376 | 50% |

| COGS | 1,867 | 1,287 | 45% | 4,156 | 2,877 | 44% |

| Gross Profit | 1,050 | 732 | 43% | 2,397 | 1,499 | 60% |

| Gross Margin % | 36.0% | 36.3% | (28 bps) | 36.6% | 34.3% | 233 bps |

| Employee Expenses | 117 | 108 | 8% | 240 | 201 | 19% |

| Other Expenses | 197 | 150 | 31% | 382 | 352 | 8% |

| EBITDA | 736 | 474 | 55% | 1,775 | 945 | 88% |

| Depreciation | 51 | 17 | 208% | 101 | 32 | 212% |

| Financial Cost | 12 | 1 | 1424% | 27 | 2 | 1129% |

| PBT | 673 | 457 | 47% | 1,647 | 911 | 81% |

| Tax | 179 | 143 | 25% | 413 | 261 | 58% |

| PAT | 494 | 314 | 58% | 1,234 | 650 | 90% |

Consolidated Balance Sheet (H1FY27)

Liabilities (₹ Mn)

  • Equity Share Capital: ₹301 million (FY26: ₹226 million, FY25: ₹214 million)
  • Other Equity: ₹12,097 million (FY26: ₹10,834 million, FY25: ₹7,187 million)
  • Non Controlling Equity: ₹51 million
  • Total Equity: ₹12,449 million
  • Deferred Tax Liabilities: ₹77 million
  • Lease Liability: ₹409 million (non-current), ₹141 million (current)
  • Total Liabilities: ₹14,378 million

Assets (₹ Mn)

  • Property, Plant & Equipment: ₹460 million
  • Right to Use Lease Hold Property: ₹527 million
  • Other Intangible Assets: ₹30 million
  • Investments: ₹91 million (non-current), ₹1,649 million (current)
  • Inventories: ₹5,739 million
  • Trade Receivables: ₹2,465 million
  • Cash & Cash Equivalents: ₹2,191 million
  • Bank Balance other than cash: ₹597 million
  • Loans: ₹10 million (non-current), ₹381 million (current)
  • Total Current Assets: ₹13,123 million

Dividend Declaration

  • The Board declared 1st interim dividend of ₹2 per equity share (100%) on face value of ₹2 each
  • Total dividend amount: ₹301.11 million

Operational Highlights

B2B Export - Q2FY27 Key Metrics

Revenue Breakup (Q2FY27)

  • Lab Grown: 91% total (75% instore, 16% online)
  • Natural: 9% total (6% instore, 3% online)
  • Total: 81% instore, 19% online

Revenue Breakup (Q2FY26)

  • Lab Grown: 90% total (76% instore, 14% online)
  • Natural: 10% total (4% instore, 6% online)
  • Total: 80% instore, 20% online

Inventory Status (September 2026)

  • 58.5% with US retailers on consignment as finished jewellery
  • 10.5% in ORIGEM stores
  • 31% WIP and stock at factory

Tariff Agnostic Business Model

  • US subsidiary casts raw gold into unfinished jewellery pieces within United States
  • Alterations completed in India (polished & setting)
  • Product qualifies as US Product of Origin through US Customs rulings
  • Recent increase in Customs Duty on gold to 15% (10% BCD + 5% cess) has no material impact due to SEZ unit status

ORIGEM Retail Update

  • 29 operational stores as of November 5, 2026
  • Q2 FY27 revenue: ₹113 million (4x YoY growth)
  • Life-Time Exchange program expanded to 110% of prevailing diamond rate
  • India's first Digital 3D Ring Builder launched with 9 different center shapes and 4000+ variations

Order Book Status

  • ₹2,250 million as of September 30, 2026
  • Expected execution over next three to four months
  • E-commerce sales booked on spot basis and not part of order book

Cash Position

  • Cash and Cash Equivalents (including investments): ₹4,578.25 million as at September 30, 2026
  • Zero net-debt structure

Company Structure & Board of Directors

Group Structure

  • Goldiam International Limited (Holding Company)
  • Goldiam Jewellery Limited SEEPZ Mumbai (Wholly Owned Subsidiary) - Manufacturing, Marketing & Design, Exporting
  • Goldiam USA New York, USA (Wholly Owned Subsidiary) - Marketing to Retailers
  • Eco-Friendly Diamonds LLP SEEPZ Mumbai (88% Subsidiary) - Growing & Manufacturing Lab Grown Diamonds
  • Diagold Designs LLP (Subsidiary Company)

Board of Directors

  • Rashesh Bhansali - Executive Chairman (28+ years experience in diamonds & jewellery)
  • Anmol Rashesh Bhansali - Managing Director (BSc Business Administration from Wharton School, GIA certifications, 6+ years experience)
  • Ruchi Shrinath Pandya - Non-Executive Independent Director (BSL.LLB-Mumbai & Solicitor UK & Wales, 17+ years experience)
  • Pannkaj Chimanlal Ghadiali - Independent Director (Practicing Chartered Accountant since 1979)
  • Nipa Utpal Sheth - Independent Director (Director and founder of Trust Group, 20+ years fixed income market experience)
  • Tulsi Gupta - Non Executive, Non Independent Director (GIA certified jewellery designer, MSc from Imperial College London)

Company Contacts

  • Company Secretary: Pankaj Parkhiya - investorrelations@goldiam.com, 022 28291893
  • Director: Mehul Mehta - Dissero_Clients@dissero.co.in, +91 98202 80325