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