Golkunda Diamonds & Jewellery Ltd

BSE: 523676

₹ 331+0.70%refreshed 23 Oct, 03:30 pm ISTMarket cap: ₹ 231 crWebsite: www.golkunda.comUpdated: 24 Oct 2026

About

Golkunda Diamonds & Jewellery is a jewellery maker based in Mumbai. It works from the Santacruz Electronics Export Processing Zone (SEEPZ), and exports bring in most of its income. Revenue was Rs 281.5 Cr in FY26, of which export revenue was about INR272 crores. Customers in the Middle East account for 85-90% of the business.^[1][2][3]

Products

The company makes diamond jewellery, mostly with natural diamonds. Lab-grown diamond jewellery was less than 5-7% of revenue in Q1 FY27, and most of it came from the US market.^[3]
As of Q1 FY27, the company was producing more than 500 new commercial designs a month.^[3]
The FY25 annual report said the company was launching a lab-grown diamond jewellery range for environmentally conscious younger buyers in developed markets.^[1]

Operations

The company manufactures in the Santacruz Electronics Export Processing Zone (SEEPZ) in Mumbai, according to the FY25 annual report.^[1]
A new facility in Andheri, Mumbai was running as of Q1 FY27. It covers about 5,360 sq ft and can make about 125-150 kg of jewellery a year, which adds about 50-60% to total capacity.^[3]

Customers and markets

The Middle East (UAE, Saudi Arabia, Qatar, Kuwait and Bahrain) accounted for 85-90% of the business as of Q1 FY27. The company has worked with major retail groups there for more than 20 years.^[3]
The US share of revenue fell below 10% as of Q1 FY27, from 20-30% about a year earlier, because of tariff problems.^[3]
The top 10 customers made up 60-65% of revenue in Q1 FY27.^[3]
Export revenue was about INR272 crores in FY26.^[3]
The company is building partnerships with jewellery chains, online marketplaces and large-format retailers, including exclusive collections and private-label manufacturing (FY25 annual report).^[1]

Expansion plans

The company is entering the Indian B2B jewellery market by supplying organised retail chains, including Middle East customers that also run stores in India (Q1 FY27 call).^[3]
Management expects the Andheri facility to bring in about INR15-20 crores of revenue in FY27, rising to a peak of INR250-300 crores over 3-4 years.^[3]
Management plans a direct-to-consumer launch of lab-grown diamond jewellery in India before Diwali, in September-October 2026.^[3]
Management aims for the domestic business to make up 50% of revenue by 2030, and for total revenue to more than double in five years.^[3]
Management's FY27 guidance is revenue growth of 15-20%, mostly from exports.^[3]

Recent developments

As of the Q1 FY27 call, the company was raising about INR27 crores by issuing convertible warrants to selected investors (a preferential allotment). The money is to fund the new facility, working capital and strategic plans.^[3]
Revenue from operations rose to INR85.21 crores in Q1 FY27 from INR69.44 crores in Q1 FY26, an increase of about 23%, driven by exports.^[3]

Market Cap

₹231 Cr

High / Low

₹379 / 170

Stock P/E

14.9

Price / Book

2.9

Book Value

₹115

EPS

₹19.7

No. of Shares

0.7 Cr

ROCE

20.1%

ROE

18.8%

OPM

7.7%

Debt / Equity

0.43

Sales

₹282 Cr

Net Profit

₹14 Cr

Promoter holding

72.8%

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