Goldiam In­ter­na­tional Ltd

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(BSE Code: 526729) (CMP: Rs.69.40) (FV: Rs.10)

In­cor­po­rated in 1986, Mumbai based Goldiam In­ter­na­tional Ltd (GIL) to­gether with its sub­sidiaries man­u­fac­tures and dis­trib­utes di­a­mond stud­ded gold, plat­inum and sil­ver jew­ellery. It op­er­ates through two seg­ments: Jew­ellery Man­u­fac­tur­ing and In­vest­ment Ac­tiv­i­ties. It in­vests its sur­plus funds in Mu­tual Funds, eq­ui­ties, etc. Its prod­ucts in­clude en­gage­ment rings, wed­ding bands, an­niver­sary rings, bridal sets, ear­rings, pen­dants and neck­laces. It is also en­gaged in ex­ports.

GIL has an eq­uity cap­i­tal of Rs.24.95 crore sup­ported by huge re­serves of Rs.331.26 crore. The pro­mot­ers hold 57.72% of the eq­uity cap­i­tal, which leaves 42.28% stake with the in­vest­ing pub­lic. With a share book value of Rs.147.45, its P/BV ra­tio works out to just 0.47. For FY18, GIL re­ported marginally higher PAT of Rs.20.21 crore on higher sales of Rs.330.38 crore and an EPS of Rs.8.1. Dur­ing Q1FY19, it re­ported 211% higher PAT of Rs.8.72 crore on 43% higher sales of Rs.105.84 crore and an EPS of Rs.3.5. It paid 15% div­i­dend for FY18. Cur­rently, the stock trades at a P/E of just 6.02x and looks quite at­trac­tive based on its per­for­mance pa­ram­e­ters. In­vestors can buy this stock with a stop loss of Rs.60. On the up­per side, it could zoom to Rs.90-100 in the medium-termto-long term.

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