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20.04.2019

AAKASHAYA PATRA EXCLUSIVE STOCK FOR INVESTMENT:

GOLDIAM INTERNATIONAL (CMP Rs.77)

Target - 105 - 115, SL - 65 Time Frame 12 to 18 Months

Incorporated in 1986, Mumbai based Goldiam International Limited, together with its subsidiaries,
manufactures, markets, and distributes diamond studded gold, platinum, and silver jewelry in India. The company operates in two segments, Jewellery Manufacturing and Investment Activity In investment segment company invest its surplus funds in MF, equities etc. Its products include engagement rings, wedding bands,anniversary rings, bridal sets, earrings, pendants,and necklaces. The company also exports its products. With an equity capital of Rs.24.62 crore and huge reserves Rs.351.16 crore, GIL's share book value works out to Rs.159.30. Its P/BV raito stands at just 0.46x. Promoters hold 62.69% while investing public hold 37.31% stake in the company. Company has recently completed buyback of 19,80,000 shares (Only from public holding) up to Rs.90 per share. (Maximum buyback size was Rs.17,82,00,000).During 9MFY19, its PAT zoomed 215.94% to Rs.40.63crore from Rs.12.86crore in 9MFY18 on 58.86% higher income of Rs.366.03crore fetching an EPS of Rs.16.36. Its 9MFY19 PAT is 101% higher than the PAT recorded for FY18. It is regularly dividend paying company and it paid 20%
interim dividend for FY19. At CMP, GIL trades at PE ratio of just 3.9x earnings.


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