The shares of Auto Ancillary company, specializing in the business of manufacturing and exporting gold and diamond jewelry to global retailers are in focus following the evaluation of setting up a manufacturing facility in the USA.
Price action
With a market capitalization of Rs. 3,868.65 crores on Tuesday, the shares of Goldiam International Limited were down upto 12 percent making a low of Rs. 345.35 per share compared to its previous closing price of Rs. 393.40 per share.
What Happened
Goldiam International Limited is engaged in the business of manufacturing and exporting gold and diamond jewelry to global retailers are currently evaluating the feasibility of setting up a manufacturing facility in the USA.
This strategic initiative is aimed at enhancing their operational efficiency, optimizing supply chain logistics, and further strengthening its presence in the key US market. The proposed facility is expected to provide better service to customers, reduce lead times, and offer a competitive edge in the region.
The company is in the early stages of evaluation, and more details, such as the location, investment, and timeline, will be shared once they are finalized and approved by the Board of Directors.
Ace Investor
Ace investor Ramesh Damani holds 16,82,898 shares, representing a 1.58 percent stake in the company as of December 2024.
About the Company
Goldiam International Limited is a leading exporter of diamond jewelry, specializing in high-quality, custom-made pieces. The company designs, manufactures, and markets a wide range of jewelry for international markets and the company is also exploring opportunities to enhance its operations and expand its presence, including potential manufacturing facilities in key markets.
Financials
The company’s total revenue rose by 40 percent from Rs. 204.95 crore to Rs. 287.96 crore in Q3FY24-25. Meanwhile, Net profit grew from Rs. 32.46 crore to Rs. 49.73 crore during the same period.
Written by Sridhar J
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