Ashish Kacholia Backed Multibagger Stock Announces Share Buyback: Check Record Date

Goldiam International is a small cap Consumer Discretionary company that recorded a market cap of Rs 1,412.31 Cr during Thursday's closing session. The company is among the top manufacturers and exporters of diamond jewellery. The company's board of directors approved the buyback of 21,79,493 equity shares on Thursday for a price of Rs 150 apiece. Additionally, for the purpose of the same record date has been made public.

"The Board of Directors and Shareholders have approved the proposal of the Company to Buyback up to 21,79,493 (Twenty one lakhs Seventy nine thousand four hundred ninety three hundred ) fully paid-up equity shares of a face value of Rs 2/- (Rupees Two) each at a price of Rs 150/- (Rupees One hundred fifty only) per Equity Share. The Board of Directors of the Company may, till one (1) working day prior to the record date i.e., July 20, 2023, increase the buy-back price and decrease the number of securities proposed to be bought back, such that there is no change in the aggregate size of the buy-back.

Pursuant to regulation 42 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, regulation 9(i) of SEBI (Buy-Back of Securities) Regulations, 2018,and other applicable regulations if any, we would like to inform you that the Buy-back Committee at its meeting held on July 6, 2023 has fixed Friday, July 21, 2023 as the Record Date for the purpose of determining the entitlement and the names of equity shareholders who are eligible to participate in the buyback offer of the Company," said Goldiam International in a stock exchange filing on 6th July.

During the quarter ended March 2023, the company reported a net income of Rs 134.89 Cr down by 14.90% YoY from Rs 158.52 Cr during the quarter ended March 2022. Its net profit reached Rs 16.21 Cr during Q4FY23 down by 28.95% YoY from Rs 22.82 Cr recorded in Q4FY22.

During the year ended FY2023, its net income was Rs 554.29 Cr down by 22.19% from Rs 712.38 Cr reported during the year ended FY2022. Goldiam International said its net profit was Rs 85.18 Cr during 12MFY23 down by 19.60% from Rs 105.95 Cr in 12MFY22. The company is yet to declare its Q1FY24 results.

On Thursday, the shares of Goldiam International closed on the BSE at Rs 129.60 apiece up by 0.43% from the previous close of Rs 129.05. The stock made a 52-week-high of Rs 178.95 on (01/02/2023) and a 52-week-low of Rs 121.20 on (24/10/2022), indicating that at the current market price, the stock is trading 27.57% below the 1-year high and 6.93% above the 1 year low. The stock price soared from Rs 10.61 to the current market price during the past five years, resulting in a multibagger return of 1,060.71%. The stock price climbed from Rs 21.82 to the current market price during the past three years, resulting in a multibagger return of 497%. The stock has fallen 14.06% over the past year, and on a year-to-date basis, it has dropped 4.60% in 2023.

During Q4FY23, the company recorded promoter shareholding of 66.39%, FIIs stake of 0.06%, and public stake of 33.54%. As per the shareholding pattern of Goldiam International for January to March 2023 quarter, ace investor Ashish Kacholia held fully paid up equity shares of 11,02,527 or 1.01% stake in the company, while Ramesh Damani held 17,17,340 shares or 1.58% stake and another ace investor Mukul Mahavir Agrawal held 25,00,000 shares or 2.29% stake in Goldiam International.