Revenue and Profitability Trends
Goldiam Intl.’s net sales have shown a robust upward movement, rising from ₹446.38 crores in March 2019 to ₹780.98 crores in March 2025. Despite a dip in fiscal 2022, the company rebounded strongly in the subsequent years, reflecting effective market positioning and demand resilience. Total operating income mirrored this trend, with no other operating income reported, indicating core business strength.
Operating profit before other income (PBDIT excl. OI) increased substantially from ₹55.33 crores in 2019 to ₹159.54 crores in 2025, with operating profit margins improving from 12.4% to 20.43% over the same period. Including other income, operating profit rose to ₹179.20 crores in 2025, underscoring the company’s ability to generate earnings beyond its primary operations.
Profit after tax (PAT) also followed a positive trajectory, climbing from ₹46.59 crores in 2019 to ₹117.10 crores in 2025. The PAT margin remained relatively stable, hovering around 15%, which is a healthy indicator of sustained profitability. Earnings per share (EPS) adjusted for the face value change, showed a notable increase, reaching 10.96 in 2025 from 21.59 in 2019, reflecting the company’s earnings growth on a per-share basis after the face value adjustment.
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Cost Structure and Margins
The company’s cost of raw materials and purchases has increased in line with revenue growth, with raw material costs rising from ₹280.86 crores in 2019 to ₹500.18 crores in 2025, and purchase of finished goods also increasing significantly. Notably, the company managed inventory fluctuations effectively, with a negative increase/decrease in stocks in 2025 indicating inventory drawdown to support sales.
Employee costs have risen steadily, reflecting expansion and possibly inflationary pressures, while other expenses have also increased but remain proportionate to the scale of operations. The absence of power, manufacturing, and selling expenses in recent years suggests streamlined operations or reclassification of costs.
Balance Sheet Strength and Asset Management
Goldiam Intl.’s shareholder funds have grown consistently, from ₹464.78 crores in 2021 to ₹740.06 crores in 2025, supported by rising reserves. The company maintains a low debt profile, with total debt at just ₹8.61 crores in 2025, down from ₹22.41 crores in 2021, indicating prudent financial management and reduced leverage risk.
On the asset side, total assets increased from ₹613.59 crores in 2021 to ₹893 crores in 2025, driven by growth in current assets such as inventories and cash balances. Cash and bank balances have nearly doubled from ₹91.60 crores in 2021 to ₹182.03 crores in 2025, enhancing liquidity. Net block of fixed assets has also increased moderately, reflecting ongoing capital investment.
Cash Flow and Liquidity
Cash flow from operating activities has fluctuated, with a negative outflow in 2025 contrasting with positive inflows in prior years. However, investing activities in 2025 generated a significant inflow, while financing activities showed moderate outflows, suggesting a phase of consolidation and capital optimisation. The net cash inflow of ₹37 crores in 2025 further supports the company’s healthy liquidity position.
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Summary and Investor Takeaways
Over the past six years, Goldiam Intl. has exhibited a commendable growth pattern in revenue, profitability, and net worth, while maintaining a conservative debt level. The company’s operating and net profit margins have remained stable, reflecting operational efficiency and cost control. Its strong cash position and growing reserves provide a solid foundation for future expansion or resilience against market volatility.
Investors seeking exposure to a company with a track record of steady financial improvement and prudent balance sheet management may find Goldiam Intl. a compelling consideration. However, fluctuations in cash flow and inventory levels warrant monitoring to ensure sustained operational momentum.
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