Goldiam slashes retail store target by 80% as diamond prices soften
Management cut its Origin store expansion goal from 50 to 10 units by September 2026, even as the company reported record revenue for FY26.
— 3 earlier stories on Goldiam International Ltd. →What's new
- Goldiam cut its retail store expansion target from 50 to 8-10 units.
- Management acknowledged a decline in lab-grown diamond prices.
- FY26 revenue topped ₹1,000 crore with a 45.7% jump in net profit.
Why this matters
The massive reduction in retail store targets suggests a cooling of the company's aggressive brick-and-mortar ambitions. Acknowledging price declines in lab-grown diamonds is a pivot from previous optimism that investors must now reconcile with the company's margin guidance.
What we're watching
- Whether the dual-casting model can sustain margins amid falling diamond prices.
- Actual store openings over the next four quarters.
- FY27 revenue growth against the backdrop of a softer pricing environment.
The full read
Goldiam International is hitting the brakes on its retail expansion. During its May 27 conference call, management slashed its target for new Origin stores from 50 to just 8-10 by September 2026.
It is a major retreat.
The company also abandoned its previous optimism regarding lab-grown diamond prices, admitting that industry-wide pricing is now in decline. These revisions follow a record-breaking FY26, where revenue crossed ₹1,000 crore and net profit climbed 45.7% to ₹170.6 crore. Despite the cooling retail outlook, management remains confident in its manufacturing efficiency, projecting a 200-300 basis point margin boost from its dual-casting model. The open question is whether that manufacturing edge can offset the pricing headwinds now acknowledged by the firm. Investors are left to weigh a strong historical performance against a significantly scaled-back growth plan.
Questions answered
- How many stores does Goldiam now plan to open?
- Goldiam targets 8-10 new Origin stores by September 2026. This is a sharp reduction from the 50 stores previously guided.
- What is the company's stance on lab-grown diamond prices?
- Management reversed its earlier outlook and now acknowledges that industry pricing for lab-grown diamonds has declined.
- How did the company perform in FY26?
- Goldiam reported record results with revenue exceeding ₹1,000 crore and net profit rising 45.7% to ₹170.6 crore.
- What is the outlook for FY27?
- Management maintains its guidance for double-digit revenue growth. It expects a 200-300 basis point margin benefit from its dual-casting manufacturing model.
Story so far
All notes on GOLDIAM →- 27 May 2026 · 5:14 PM IST Goldiam slashes retail store target by 80% as diamond prices soften
- today Goldiam International hits ₹1,021 cr revenue, rewards with 1:3 bonus
- today Goldiam International hits record revenue and proposes 1:3 bonus
- today Goldiam International hits record revenue as board proposes 1:3 bonus