The lab-grown diamond industry has rapidly gained momentum in recent years, driven by advancements in technology and changing consumer preferences.According to recent reports, the market for lab-grown diamonds is expected to grow at a compound annual growth rate (CAGR) of around 7 percent to 10 percent through the coming years, reaching a significant market share by 2030.
Listed below are some of the India Companies that are in the manufacturing and trading of lab growth diamonds.
Goldiam International Ltd:
With a market capitalization of Rs. 3,576.57 crores, Goldiam International Ltd closed at Rs. 337.10, down 5.32 percent from the previous close of Rs. 356.05 per share.
In terms of financial performance for Q1FY25 the company reported a net profit increase of 27.3 percent to Rs. 22.04 crore compared to Rs. 17.3 crore in Q1FY24, while revenue from operations also marked an increase of 38.4 percent to Rs. 165.8 crore from Rs. 119.77 crore in comparison to the same period.
In Q1 FY25, lab-grown diamond jewelry exports made up 68 percent of the company’s total sales mix, amounting to Rs. 112.74 crores up from 54.2 percent in Q4 FY24 and 33 percent in Q1 FY24. For the full FY24, lab-grown diamond jewelry exports contributed 49 percent to the total revenue amounting to Rs. 295.40 crores.
The company is an integrated manufacturer and supplier of fine diamond jewellery to leading retailers and wholesalers in the USA. As on June company had an order book value of 150 crores. Its product portfolio includes both mined diamonds and lab grown diamonds.
The company has also launched its first store for lab-grown diamond jewellery retail in the borivali West -Mumbai with the brand name origem on October 25, 2024. For the last six months the stock price has grown by 88 percent and a multibagger return of 170 percent in the past year.
Dev Labtech Venture Ltd:
With a market capitalization of Rs. 76.34 crores, Dev Labtech Venture Ltd closed at Rs. 85.50, down 5 percent from the previous close of Rs. 90.00 per share.
In terms of financial performance for FY24, the company reported a net profit increase of 31.37 percent to Rs. 1.34 crore compared to Rs. 1.02 crore in FY23, while revenue from operations also marked an increase of 42.45 percent to Rs. 43.22 crore from Rs. 30.34 crore in comparison to the same period.
In FY23, the company exported 92 percent of its products, with 100 percent of exports directed to the U.S., while 8 percent of sales were domestic. As of June 2024, the company has an order book valued at USD 1.1 million for lab-grown diamonds from U.S. clients and INR 1 crore from an Indian client.
The Company is into the business of manufacturing, marketing and sourcing of diamonds having wide application in Jewellery. It is equipped with all manufacturing activities from rough natural stone to finished polished diamonds and from Seed to finished lab grown diamonds with various sizes, shapes, clarity and colors.
Mini Diamond Ltd:
With a market capitalization of Rs. 72.20 crores, Mini Diamond Ltd closed at Rs. 202.30, up 2 percent from the previous close of Rs. 198.35 per share.
In terms of financial performance for Q1FY25 the company reported a net profit of Rs. 1.84 crore compared to Rs. 0.14 crore in Q1FY24, while revenue from operations increased to Rs. 89.13 crore from Rs. 24.32 crore in comparison to the same period.
The company recently expanded into new markets, partnering with A V Palace DMCC in Dubai and securing its first Canadian order for 2,000 lab-grown diamonds in September. It also opened its first retail designer lab-grown diamond jewelry store in Mumbai on October 12.
The company is well-known for it’s cut and polished diamonds and jewellery manufacturing. The company has a manufacturing facility in Mumbai and is in the manufacturing, marketing, and sales of exquisite lab-grown diamond jewellery and cater to both the Indian and international markets, offering products through B2B and B2C channels.
Over the last six months, the stock has delivered a multibagger return of 254 percent and an exceptional year-to-date return of 1,022 percent.
Written By: Joseph Pv
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