Company Overview
Golkunda Diamonds & Jewellery Limited, incorporated in 1990 (CIN: L36912MH1990PLC058729), is engaged in manufacturing and export of fine jewellery including polished gems, diamonds, precious and semi-precious stones, and jewellery across diamond, gold, gemstone, jadau, and lab-grown diamond categories. The company operates from its registered office at G-30, GEMS & JEWELLERY COMPLEX - III, SEEPZ, Andheri (East), Mumbai - 400 096.
Manufacturing Operations
The company operates 03 manufacturing units: 02 facilities dedicated to international markets and 01 dedicated to the domestic Indian market. The export-oriented facilities are located in SEEPZ Special Economic Zone, while the new domestic manufacturing unit is at 9B, Leader House, Mahal Industrial Estate, Mahakali Caves Road, Andheri (East), Mumbai.
Capacity Expansion
The new domestic manufacturing unit adds approximately 125-150 kg of jewellery manufacturing capacity per annum across a 5,360 sq. ft. facility, representing a 50-60% increase in overall manufacturing capacity. This facility can produce across the company's entire product spectrum including diamond, gold, gemstone, jadau, and lab-grown diamond jewellery.
Financial Performance - Q1 FY27
Income Statement (₹ Lakhs):
- Total Revenue: 8,540.87 (vs 6,961.77 in Q1 FY26)
- EBITDA: 864.12 (vs 510.34 in Q1 FY26) - 69.32% growth
- EBITDA Margin: 10.14% (vs 7.35% in Q1 FY26) - 279 BPS improvement
- Net Profit: 514.03 (vs 313.57 in Q1 FY26) - 63.93% growth
- Net Profit Margin: 6.03% (vs 4.52% in Q1 FY26) - 151 BPS improvement
- EPS (Diluted): ₹7.32 (vs ₹4.50 in Q1 FY26) - 62.67% growth
Cost breakdown includes Cost of Material Consumed: ₹7,198.18 lakhs, Employee benefit expense: ₹243.90 lakhs, Other Expenses: ₹234.67 lakhs, Financial costs: ₹145.53 lakhs, and Current Tax: ₹173.00 lakhs.
Historical Financial Performance
FY26 Annual Results (₹ Lakhs):
- Revenue from Operations: 28,150.15
- Total Revenue: 28,232.89
- EBITDA: 2,284.29 (8.11% margin)
- Net Profit: 1,369.42 (4.86% margin)
- EPS (Diluted): ₹19.66
Balance Sheet (FY26, ₹ Lakhs):
- Total Shareholders' Equity: 8,023.83
- Total Non-Current Liabilities: 889.00
- Total Current Liabilities: 6,287.91
- Total Assets: 15,200.76
- Inventories: 2,861.71
- Trade Receivables: 8,713.01
- Cash and Cash Equivalents: 319.81
Geographical Revenue Distribution (FY26)
Total Export Revenue: ₹274.48 Crores with distribution across:
- UAE: 22.21% (₹108.93 Cr)
- KSA: 23.76% (₹65.23 Cr)
- Kuwait: 39.69% (₹60.95 Cr)
- Bahrain: 3.91% (₹10.73 Cr)
- QATAR: 4.11% (₹11.27 Cr)
- Singapore: 2.90% (₹7.96 Cr)
- USA: 2.76% (₹7.58 Cr)
- Hong Kong: 0.67% (₹1.83 Cr)
The company achieved ₹272.20 Cr in export earnings (FOB) against ₹67.21 Cr in import outgo, resulting in approximately ₹205 Cr net forex surplus in FY26.
Management Structure
- Mr. Kantikumar Dadha: Chairman & Whole time Director, responsible for overall strategy and financial planning
- Mr. Arvind Dadha: Managing Director, with 25 years experience, responsible for product development and marketing
- Mr. Ashish Dadha: Director & CFO, with 20+ years experience in finance and banking functions
- Kopal Jain: Company Secretary & Compliance Officer
Industry Context and Strategy
The presentation highlights India's position as the 2nd largest gold consumer globally and 8th largest gems & jewellery exporter worldwide. Key industry trends include rising branded jewellery adoption, growth of lab-grown diamonds (LGDs), BIS hallmarking, and increasing organized retail penetration.
The company's expansion into the domestic market leverages its 40+ years of manufacturing and export relationships across Europe and the Middle East. The expansion is funded through preferential allotment of convertible warrants to ensure liquidity for timely execution.
Technology and Operational Improvements
The company has implemented customized software to track every jewellery piece throughout the manufacturing process, improving inventory control and accountability. Improved processes have reduced defective products, saving materials and labour.