Goldiam International Ltd

- The company expects to return to its growth trajectory post the current consolidation phase, particularly after FY24, with potential revenue growth around 20% (Page 7). - Growth depends on consumer demand recovery in the US, especially in the discretionary spending segment which has been subdued recently (Page 10). - The festive season (September to December) is anticipated to boost orders and sales significantly (Page 6). - Online (e-commerce) business is a strong growth area with rapid past growth and plans to maintain or slightly increase its share of overall revenue (Page 13). - Increasing wallet share with existing US retailers and expanding product portfolios like lab-grown diamonds are key strategies for growth (Pages 10-11). - In India, the company is exploring market entry strategies for lab-grown diamonds, but revenue contribution may be seen post FY25 (Page 6-7). - Inventory normalization and working capital management are also expected to improve operational efficiency and support growth (Page 9).

- The Company expects a stronger year ahead, with consolidation of margins during the current slowdown phase. (Page 7, 10) - Post next year, growth trajectory is anticipated to resume, driven by clarity in lab-grown vs natural diamond demand and reduced geopolitical risks. (Page 7) - A return to growth trajectory beyond next year is expected, though exact revenue growth is hard to predict currently. (Page 7) - Gross margins improved to 36% in FY23 from 31% in FY22; FY23 EBITDA margin remains healthy at 22.5%. (Page 3) - Lab-grown diamond jewellery sales contribute significantly, comprising 23% of overall mix in FY23 and expected to grow with strong consumer adoption. (Page 3) - E-commerce business, being net working capital negative, offers better ROCE and is expected to maintain or slightly grow its revenue share. (Page 13, 14) - Inventory normalization and improved working capital expected over next 2-3 quarters, aiding profitability. (Page 9) - Domestic market expansion plans are under evaluation; potential to add growth from India in future. (Page 8, 9)

- Current open order book stands at approximately Rs.100 crores, expected to be delivered in the next 3-4 months. (Page 6) - Order book break-up: around 20% to 25% involves new test memos/orders, while the remaining ~75% are 100% buyout orders. (Page 9-10) - The Company anticipates a stronger year ahead, with inventory normalization expected over the next 2-3 quarters as the consolidation phase plays out. (Page 9) - Management expects improvement in margins despite current economic headwinds and is optimistic about order inflow recovery, especially with the upcoming festive season. (Page 6, 9) - Management continues to maintain ongoing partnerships with retailers, despite recent discounting pressures, aiming for steady order flow. (Page 6)

- The transcript and presentation excerpts provided do not mention any current or planned fundraising through debt or equity. - The company is focusing on conserving cash during a consolidation phase to fund future expansions. - It continues to do buybacks virtually every year or two years, indicating surplus cash rather than immediate need for fundraising. - Management discussions indicate a focus on organic growth, expansion in e-commerce, and lab-grown diamonds rather than external fundraising. - No explicit comments or plans regarding new debt or equity issuance were detailed on page 16 or surrounding pages.

- The company is currently in a consolidation phase and is focused on conserving cash for future expansions. - There is no specific mention of immediate capital investment; instead, the company plans to continue buybacks virtually every year or every two years. - For the online business, the company is not investing additional capital into developing the e-commerce website further but is adding styles to help wholesalers sell more products. - The company is evaluating its mode of entry into the Indian retail market and plans to update on the strategy and investment needed in Q2. - There is consideration for setting up retail operations themselves in India, but this is still under discussion and to be clarified in the next quarter. - No specific new large capex projects are detailed in the call.