GOLDIAM INTERNATIONAL LIMITED
  MANUFACTURERS & EXPORTERS OF JEWELLERY
  REGISTERED OFFICE 
  GEMS & JEWELLERY COMPLEX
  SEEPZ , ANDHERI (EAST)
  MUMBAI  -400096
  Unaudited Financial Results for the Quarter ended on 30th September,2008
   
                        (Rs.in Lacs)
      Figures for the  Year to date Audited for Consolidated
  Sr.               Particulars Quarter Ended on for the period ended on the year ended on Figures for the  Year to date Audited for
  No.             Quarter Ended on for the period ended on the year ended on
      30.09.2008 30.09.2007 30.09.2008 30.09.2007 31.03.2008 30.09.2008 30.09.2007 30.09.2008 30.09.2007 31.03.2008
                         
                         
  1 Net Sales/Income from operations              873.62            2,521.33            2,766.50            4,575.19                   9,411.43            5,600.20            6,171.59          12,179.26          12,220.80                     28,064.75
                         
  2 Expenditure                    
                         
  a) Increase/decrease in stock in trade and work in progress                69.31               (48.95)                18.03             (116.09)                    (299.62)              114.80                 (6.04)              123.47             (125.87)                         (395.23)
                         
  b) Consumption of raw materials              651.44            1,757.36            2,027.36            3,478.01                   7,294.18            4,404.40            4,641.89            9,544.68            9,742.03                     22,823.43
                         
  c) Purchase of Traded goods                70.41              186.97              327.28              235.22                     644.58                70.41              165.94              327.28              198.45                          549.69
                         
  d) Employees cost              152.06              194.74              284.36              358.70                     664.25              259.44              389.00              762.00              752.29                       1,523.36
                         
  e) Depreciation                38.40                50.28                76.34                98.68                     182.45                77.57                93.98              153.62              185.21                          342.71
                         
  f) Other Expenditure              435.71              337.29              990.64              602.37                   1,278.72              886.61              559.22            1,585.58            1,065.34                       2,368.65
                         
  g) Total            1,417.33            2,477.69            3,724.01            4,656.89                   9,764.56            5,813.23            5,843.99          12,496.63          11,817.45                     27,212.61
                         
  3 Profit from Operations before Other                     
    Income, Interest & Exceptional Items                    
    (1-2)             (543.71)                43.64             (957.51)               (81.70)                    (353.13)             (213.03)              327.60             (317.37)              403.35                          852.14
                         
  4 Other Income                15.35                62.35              184.43              100.59                     441.31               (72.57)                80.82                92.85              118.36                          338.42
                         
  5 Profit before Interest & Exceptional                    
    Items                    
    (3+4)             (528.36)              105.99             (773.08)                18.89                       88.18             (285.60)              408.42             (224.52)              521.71                       1,190.56
                         
  6 Interest                  2.50                  5.29                  6.67                16.00                       36.43                66.06                68.35              121.71              141.36                          277.72
                         
  7 Profit after Interest but before exceptional                    
    Items.(5-6)             (530.86)              100.70             (779.75)                  2.89                       51.75             (351.66)              340.07             (346.23)              380.35                          912.84
                         
  8 Exceptional Items                     -                       -                       -                       -                              -                       -                       -                       -                       -                                  -  
                         
  9 Profit (+)/ Loss (-) from Ordinary Activities                    
    before tax (7+8)             (530.86)              100.70             (779.75)                  2.89                       51.75             (351.66)              340.07             (346.23)              380.35                          912.84
                         
  10 Tax expenses                  4.88                12.11                  8.36                14.73                       62.13                19.73                15.28                20.64                17.80                           95.20
                         
  11 Net Profit (+)/ Loss (-) from Ordinary                    
     Activities after tax (9-10)             (535.74)                88.59             (788.11)               (11.84)                      (10.38)             (371.39)              324.79             (366.87)              362.55                          817.64
                         
  12 Extraordinary Item ( net of tax expenses                     -                       -                       -                       -                              -                       -                       -                       -                       -                                  -  
    Rs.Nil        )                    
                         
  13 Minority Interest                     -                       -                       -                       -                              -                 (55.27)                34.92               (87.99)                51.30                           96.18
                         
  14 Net Profit (+)/ Loss (-) for the period (11-12-13)             (535.74)                88.59             (788.11)               (11.84)                      (10.38)             (316.12)              289.87             (278.88)              311.25                          721.46
                         
  15 Paid-up equity share capital                     
    (Face value Rs.10/- per share )            2,588.16            2,703.28            2,588.16            2,703.28                   2,703.28            2,558.16            2,703.28            2,558.16            2,703.28                       2,703.28
                         
  16 Reserves excluding Revaluation Reserves as                    
    per balance sheet of previous accounting year                         14,749.33                             16,365.45
                         
  17 Earnings Per Share (EPS)                    
    a) Basic and diluted EPS before Extraordinary                    
        items for the period, for the year to date and                     
        for the previous year ( not to be annualised)                 (2.07)                  0.33                 (3.05)                 (0.04)                        (0.04)                 (1.24)                  1.07                 (1.09)                  1.15                             2.67
                         
    b) Basic and diluted EPS after Extraordinary                    
        items for the period, for the year to date and                     
        for the previous year ( not to be annualised)                 (2.07)                  0.33                 (3.05)                 (0.04)                        (0.04)                 (1.24)                  1.07                 (1.09)                  1.15                             2.67
                         
  18 Public Shareholding                    
    a) No. of Shares 12136070 13287263 12136070 13287263 13287263 12136070 13287263 12136070 13287263 13287263
    b) Percentage of shareholding 46.89 49.15 46.89 49.15 49.15 46.89 49.15 46.89 49.15 49.15
                         
     
  1 The above results for the quarter ended 30th September,2008 have been subjected to "Limited Review" by the Statutory Auditors of the Company and have been reviewed by the Audit Committee and were taken on record by the 
    Board of Directors of the Company at its meeting held on 24th October,2008.  
  2 Consolidated financial statements of the Company and its subsidiaries have been prepared as per Accounting Standard AS 21 issued by The Institute of Chartered Accountants of India.  
  3 Other expenditure includes foreign currency loss of Rs.2.85 crores, Rs.6.41 crores and Rs.1.44 crores for the quarter ended 30.09.08, period ended 30.09.08 and year ended 31.03.08 respecively and corresponding quarters/period 
    for the previous year Rs. Nil. Further, in respect of the consolidated results, other expenditure includes foreign currency loss of Rs.3.15 crores, Rs.7.04 crores and Rs.1.51 crores for the quarter ended 30.09.08, period ended 30.09.08 
    and year ended 31.03.08 respecively, and corresponding quarters/ period for the previous year Rs.Nil.  
  4 Tax Expenses includes Current Tax,Deferred Tax and Fringe Benefit Tax.  
  5 One complaint received during the quarter has been replied/redressed.There were no complaints pending at the beginning and end of the quarter.  
  6 The Company has bought back all the Equity shares permitted to be bought back by the shareholders i.e. 14,86,804 equity shares upto October 20, 2008 for a total value of Rs.5.93 crores and all the equity shares bought back have  
    been extinguished.  
  7 The Company has incorporated wholly owned subsidiary in U.S.A. viz. Goldiam USA Inc.  
  8 The Stand alone results of the Company are available on the Company's website www.goldiam.com and also available on Bombay Stock Exchange and National Stock Exchange websites www.bseindia.com and www.nseindia.com
    respectively.  
  9 The figures in Rs.Lacs are rounded off to two decimals.  
     
  Segment wise Revenue,Results and Capital Employed under Clause 41of the Listing Agreement
      Figures for the  Year to date Audited for Consolidated
  Sr.               Particulars Quarter Ended on for the period ended on for the Year  Figures for the  Year to date Audited for the 
  No.       ended on Quarter Ended on for the period ended on Year ended on
      30.09.2008 30.09.2007 30.09.2008 30.09.2007 31.03.2008 30.09.2008 30.09.2007 30.09.2008 30.09.2007 31.03.2008
                     
  A PRIMARY SEGMENT:                    
  1 Segment Revenue :                    
    a) Jewellery              895.83            2,552.76            2,790.63            4,606.63                   9,465.88            5,650.45            6,220.78          12,229.51          12,269.99                     28,067.75
    b) Investments                 (6.86)                30.92              160.30                69.16                     386.85             (122.82)                31.63                42.60                69.16                          335.43
    Total              888.97            2,583.68            2,950.93            4,675.79                   9,852.73            5,527.63            6,252.41          12,272.11          12,339.15                     28,403.18
    Less : Inter Segment Revenue                     -                       -                       -                       -                              -                           -                       -                                  -  
    Net Sales/ Income from operation              888.97            2,583.68            2,950.93            4,675.79                   9,852.73            5,527.63            6,252.41          12,272.11          12,339.15                     28,403.18
                         
  2 Segment Results :                    
    Profit/(Loss) before tax and interest                    
                         
    a) Jewellery             (511.44)                91.07             (903.20)               (23.67)                    (223.40)             (149.76)              380.65             (235.72)              479.14                          932.88
    b) Investments                 (8.82)                20.97              146.80                52.24                     337.39             (127.75)                21.73                27.88                52.25                          284.90
                         
    Total             (520.26)              112.04             (756.40)                28.57                     113.99             (277.51)              402.38             (207.84)              531.39                       1,217.78
                         
    Less : i) Interest                  2.50                  5.28                  6.67                16.00                       36.43                66.05                56.25              121.71              141.36                          277.72
              ii) Other un - allocable expenditure (Net)                  8.10                  6.06                16.68                  9.68                       25.81                  8.10                  6.06                16.68                  9.68                           27.22
                         
    Total Profit Before Tax             (530.86)              100.70             (779.75)                  2.89                       51.75             (351.66)              340.07             (346.23)              380.35                          912.84
                         
    Capital Employed                    
                         
    a) Jewellery            9,589.20          10,044.67            9,589.20          10,044.67                 11,640.19          14,740.84          15,290.09          14,740.84          15,290.09                     14,109.24
    b) Investments            5,906.75            6,620.59            5,906.75            6,620.59                   5,073.92            3,897.66            3,375.57            3,897.66            3,375.57                       3,310.67
    c) Unallocated assets / (Liabilties)               653.80              889.99              653.80              889.99                     738.50            1,504.96            1,907.24            1,504.96            1,907.24                       1,648.82
    Total          16,149.75          17,555.25          16,149.75          17,555.25                 17,452.61          20,143.46          20,572.90          20,143.46          20,572.90                     19,068.73
                         
                         
  B SECONDARY SEGMENT                    
  1 Segment Revenue :                    
    Within India               (99.12)               (12.23)             (115.30)               (46.44)                    (200.99)               (99.11)               (12.23)             (115.29)               (46.44)                         (196.53)
    Exports Outside India             (412.32)              103.30             (787.90)                22.77                      (22.41)               (50.65)              392.88             (120.43)              525.58                       1,129.40
                         
    Total Revenue             (511.44)                91.07             (903.20)               (23.67)                    (223.40)             (149.76)              380.65             (235.72)              479.14                          932.88
       
  2 Segment Assets                    
    Within India              620.95              972.17              620.95              972.17                     797.89              620.95              972.17              620.95              972.17                          864.35
    Exports Outside India          11,882.80          11,580.61          11,882.80          11,580.61                 13,395.55          28,967.63          25,224.99          28,967.63          25,224.99                     27,089.27
                         
    Total Assets          12,503.75          12,552.78          12,503.75          12,552.78                 14,193.44          29,588.58          26,197.16          29,588.58          26,197.16                     27,953.62
                         
  3 Segment Liabilities                    
    Within India                23.83                88.98                23.83                88.98                     460.95                23.83                88.98                23.83                88.98                          460.95
    Exports Outside India            2,890.72            2,419.13            2,890.72            2,419.13                   2,092.30          14,823.91          10,818.09          14,823.91          10,818.09                     13,383.43
                         
    Total Liabilities            2,914.55            2,508.11            2,914.55            2,508.11                   2,553.25          14,847.74          10,907.07          14,847.74          10,907.07                     13,844.38
                         
     
       
  1 The Company has identified Two Reportable Segments viz. Jewellery Manufacturing and Investment Activity. Segments have been identified and reported taking into account nature of products and services, the different risks and returns
     and the internal business reporting systems.   
  2 The Company has identified Geographic Segments as its Secondary Segment. Geographic segments of the Company are mainly local market in India and exports out of India.     
  3 The capital employed in the respective segments is worked out after considering the operating assets and liabilities that are directly attributable to the segments as well as allocated to the segments on a reasonable basis.
       
                         
    For Goldiam International limited
     
     
     
    Place : Mumbai Rashesh Bhansali
    Dated : 24th October,2008 Vice Chairman & Managing Director