Sky Gold And Diamonds Limited, a leading B2B gold jewellery manufacturer, has reported a robust financial performance for the first quarter of fiscal year 2026, with significant growth across key metrics.

Strong Revenue and Profit Growth

The company's consolidated revenue soared to INR 1,131.00 crores in Q1 FY26, marking a substantial 56% year-on-year increase from INR 723.00 crores in Q1 FY25. This growth was driven by a 30% rise in monthly production volume, reaching 456 kg compared to 349 kg in the previous year.

Profitability also saw remarkable improvement:

Diversification and Expansion Strategies

Sky Gold & Diamonds has made significant strides in diversifying its client base and expanding its market presence:

• New client acquisitions include Reliance Retail, PMJ Jewellery, and Kalamandir
• Increased wallet share with existing clients like Aditya Birla and CaratLane
• Advanced gold business grew from 4% to 5% quarter-on-quarter
• 18-carat gold volumes rose from 4% to 7%
• Export sales reached INR 131.00 crores, representing 12% of total revenue

Financial Management and Expansion Plans

The company has taken strategic steps to optimize its financial structure and expand its operations:

• Secured gold metal loan limits of INR 190.00 crores from three banks
• Plans to acquire a subsidiary in Dubai for Middle East expansion
• Targeting revenue of INR 5,400.00 crores in FY26 and INR 7,600.00 crores in FY27
• Aiming for volume guidance of 650-700 kg per month by FY26 exit

Market Dynamics and Product Strategy

Despite gold price volatility, Sky Gold & Diamonds has adapted its strategy to meet changing market demands:

• Focused on lightweight, design-forward pieces suited for modern lifestyles
• Transitioned from volume-based to design-led model emphasizing craftsmanship
• Observed increasing trend towards 18-carat jewellery due to high gold prices
• Launched lightweight "feather light" jewellery designs in 22-carat

Management Commentary

Mangesh Chauhan, Managing Director and CFO, commented on the results: "We have commenced the quarter on a strong note despite persistent fluctuation in gold prices. Our Akshaya Tritiya sales performed exceptionally well, demonstrating significant growth. At Sky Gold, we remain steadfast on our vision to become one of the largest B2B gold jewellery manufacturers in our segment."

Future Outlook

Sky Gold & Diamonds is poised for continued growth, with plans to:

• Gradually shift borrowings to gold metal loans for cost optimization
• Increase advanced gold business to enhance PAT and improve ROCE
• Expand export operations, targeting 17-20% of revenue from exports by FY26
• Focus on new customer additions through the advanced gold model

With its strategic initiatives and strong market position, Sky Gold & Diamonds Limited appears well-positioned to capitalize on the growing demand for gold jewellery in both domestic and international markets.

Sky Gold And Diamonds , a prominent player in the gold and diamond industry, has made a strategic move to strengthen its market position by acquiring 100% shareholding in Ganna N Gold Private Limited. The company has allotted 60,95,074 equity shares at Rs 369.00 per share on a preferential basis to finance this acquisition, valued at Rs 224.91 crores.

Key Details of the Acquisition

• Share Allotment: Sky Gold Limited issued 60,95,074 equity shares at Rs 369.00 per share.
• Consideration: The shares were issued for consideration other than cash, in exchange for 10,000 equity shares of Ganna N Gold Private Limited.
• Total Value: The deal is valued at Rs 224.91 crores.
• Allottees: The shares were equally distributed between two non-promoter individuals:
  • Mr. Jinesh Navratanmal Ganna: 30,47,537 shares
  • Mr. Vikas Navratanmal Ganna: 30,47,537 shares

Impact on Sky Gold Limited's Capital Structure

The preferential allotment has led to a significant change in Sky Gold Limited's capital structure:

Regulatory Compliance and Approvals

Sky Gold Limited has ensured compliance with all necessary regulatory requirements:

• The allotment was approved by the Board of Directors through a resolution passed by circulation on July 30, 2025.
• Prior shareholder approval was obtained through a postal ballot.
• In-principle approvals were received from both BSE Limited and National Stock Exchange of India Limited (NSE) on July 18, 2025.

Future Steps

Sky Gold Limited will be applying for listing and trading approval for the newly allotted shares with the stock exchanges. The company has stated that these newly allotted shares will rank pari-passu in all respects with the existing equity shares of the company.

Investor Relations

In a separate announcement, Sky Gold Limited has informed that its management will be interacting with investors and analysts in an in-person meeting scheduled for August 7, 2025. The company has emphasized that no Unpublished Price Sensitive Information (UPSI) will be shared during this meeting.

This acquisition marks a significant step for Sky Gold Limited, potentially enhancing its market presence and operational capabilities in the gold and diamond sector. Investors and market analysts will be keenly watching how this strategic move impacts the company's future performance and market position.