Goldiam International Limited (GOLDIAM) AI Stock Analysis

Goldiam International Limited

(NSE:GOLDIAM)

Select Model

Rating:61Neutral

Price Target:INR 322.00▲(12.35% Upside)

Action:downgraded

Date:10/12/26

The score is driven primarily by solid reported growth/profitability and a strong balance sheet, offset by materially inconsistent cash flow conversion. Technical indicators further weigh on the rating due to weak momentum and price trading below key moving averages, while valuation appears broadly reasonable but not especially compelling and the dividend yield is modest.

Positive Factors

Strong revenue scalingSubstantial multi-year revenue expansion indicates that Goldiam has increased the scale of its diamond jewellery business and maintained demand across its markets. A larger revenue base can support operating leverage, broader customer reach, and continued investment in design and manufacturing capabilities.

Negative Factors

Volatile cash conversionUneven operating and free cash flow indicates that reported profits have not consistently translated into available cash. Such volatility may reflect working-capital swings or uneven cash conversion, limiting funding visibility and increasing execution risk even when accounting earnings remain solid.

Goldiam International Limited (GOLDIAM) vs. iShares MSCI India ETF (INDA)

Market Cap: INR 47.16B
Dividend Yield: 0.98%
Average Volume (3M): 38.80K
Price to Earnings (P/E): 16.9
Beta (1Y): 2.40
Revenue Growth: 27.01%
EPS Growth: 55.10%
Country: India
Employees: 348
Sector: General
Sector Strength: 55
Industry: Luxury Goods

Goldiam International Limited Business Overview & Revenue Model

Company Description

Goldiam International Limited, together with its subsidiaries, manufactures and sells gold/silver/platinum and diamond studded jewelry products in India. It operates in two segments, Jewellery Manufacturing Activity and Investment Activity. The compa...

How the Company Makes Money

Goldiam primarily makes money by selling diamond jewellery products it designs and manufactures to customers in domestic and export markets. Its core revenue stream is the sale of finished jewellery (rather than earning fees), with revenues recognize...

Goldiam International Limited Financial Statement Overview

Summary

Strong revenue scaling and consistently solid profitability, supported by a conservatively positioned balance sheet with growing equity and manageable leverage. The main drag is highly volatile operating and free cash flow, with multiple years of negative cash generation, which weakens earnings quality and raises execution/working-capital risk.

Income Statement

78Positive

Balance Sheet

86Very Positive

Cash Flow

42Neutral

Financial statement breakdown
Breakdown	TTM	Mar 2026	Mar 2025	Mar 2024	Mar 2023	Mar 2022
Income Statement
Total Revenue	10.73B	9.77B	7.81B	6.03B	5.33B	6.88B
Gross Profit	2.97B	2.74B	2.25B	1.38B	1.80B	1.87B
EBITDA	2.63B	2.49B	1.79B	1.28B	1.25B	1.55B
Net Income	2.11B	1.71B	1.17B	908.12M	851.88M	1.05B
Balance Sheet
Total Assets	0	13.63B	8.94B	7.34B	7.05B	6.32B
Cash, Cash Equivalents and Short-Term Investments	4.79B	4.79B	2.84B	3.07B	2.38B	2.04B
Total Debt	0	770.13M	270.14M	46.91M	26.82M	37.82M
Total Liabilities	-11.11B	2.51B	1.48B	988.57M	1.13B	1.06B
Stockholders Equity	11.11B	11.06B	7.40B	6.30B	5.86B	5.20B
Cash Flow
Free Cash Flow	-337.97M	142.55M	-196.73M	1.00B	559.34M	-133.22M
Operating Cash Flow	-293.01M	299.02M	-121.85M	1.07B	651.65M	-97.68M
Investing Cash Flow	-242.34M	-780.36M	621.68M	-275.73M	-146.36M	949.89M
Financing Cash Flow	1.92B	1.72B	-127.49M	-535.16M	-311.23M	-902.39M

Goldiam International Limited Technical Analysis

Technical Analysis SentimentNegative

Last Price286.60

Price Trends

50DMA324.67Negative

100DMA339.19Negative

200DMA303.44Negative

Market Momentum

MACD-9.10Positive

RSI33.44Neutral

STOCH23.06Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:GOLDIAM, the sentiment is Negative. The current price of 286.60 is below the 20-day moving average (MA) of 305.67, below the 50-day MA of 324.67, and below the 200-day MA of 303.44, indicating a bearish trend. The MACD of -9.10 indicates Positive momentum. The RSI at 33.44 is Neutral, neither overbought nor oversold. The STOCH value of 23.06 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for IN:GOLDIAM.

Goldiam International Limited Peers Comparison

Overall Rating

UnderperformOutperform

Sector (55)

Financial Indicators

IN:GOLDIAM against its peers
Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
IN:TBZ	73Outperform	INR 40.87B	20.64	―	0.41%	24.14%	110.35%
IN:SENCO	69Neutral	INR 48.05B	8.41	―	0.34%	41.91%	165.71%
IN:PCJEWELLER	64Neutral	INR 150.96B	15.03	―	―	29.27%	3.00%
IN:GOLDIAM	61Neutral	INR 43.15B	16.93	―	0.98%	27.01%	55.10%
Sector *	55Neutral	$6.65B	3.83	-15.92%	6.20%	10.91%	7.18%
IN:RAJESHEXPO	54Neutral	INR 14.41B	8.60	―	―	79.55%	130.31%
IN:BLUESTONE	46Neutral	INR 103.33B	96.09	―	―	―	―

* General Sector Average

Performance Comparison

IN:GOLDIAM and its peers over the selected period
Ticker	Company Name	Price	Change	% Change
IN:GOLDIAM	Goldiam International Limited	286.60	5.76	2.05%
IN:PCJEWELLER	PC Jeweller Ltd.	15.48	3.90	33.68%
IN:RAJESHEXPO	Rajesh Exports Limited	48.82	-132.53	-73.08%
IN:SENCO	Senco Gold Limited	293.15	-34.16	-10.44%
IN:TBZ	Tribhovandas Bhimji Zaveri Limited	612.50	431.94	239.22%
IN:BLUESTONE	Bluestone Jewellery and Lifestyle Limited	676.25	-35.45	-4.98%

Goldiam International Limited Corporate Events

Goldiam files SEBI demat compliance certificate for September quarter

Oct 5, 2026

Goldiam International Limited has submitted a compliance certificate under Regulation 74(5) of the SEBI (Depositories and Participants) Regulations, 2018 for the quarter ended 30 September 2026, as required by Indian securities law. The filing covers...

Glossary

BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

Disclaimer

This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.

Date of analysis: Oct 12, 2026

Goldiam International Limited AI Stock Analysis