Sky Gold And Diamonds ' wholly-owned subsidiary, Starmangalsutra Private Limited, has executed a partnership agreement on December 11, 2025, to acquire a 51% partnership interest in Shri Rishab Gold, a jewellery manufacturing firm. This development follows the company's earlier announcement in October 2025 regarding the planned acquisition.

Partnership Agreement Execution

Acquisition Overview

The partnership agreement marks a significant milestone in Sky Gold And Diamonds' expansion strategy within the traditional mangalsutra jewellery segment. Starmangalsutra Private Limited, being a wholly-owned subsidiary, provides the parent company with direct access to Shri Rishab Gold's manufacturing capabilities and customer portfolio.

Strategic Benefits

The acquisition is positioned to deliver multiple strategic advantages for Sky Gold And Diamonds. The company gains deeper market penetration into the traditional mangalsutra jewellery segment while expanding its customer base through Shri Rishab Gold's existing client portfolio, which includes relationships with major jewellery brands across India.

Regulatory Compliance

Sky Gold And Diamonds has maintained transparency throughout the acquisition process, with the latest update filed under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company confirmed that there are no changes to the transaction details previously disclosed to stock exchanges in October 2025.

This strategic move demonstrates Sky Gold And Diamonds' commitment to growth in the specialized jewellery manufacturing sector, potentially strengthening its market position and providing access to new customer segments within the traditional jewellery market.

Sky Gold And Diamonds Limited, a leading B2B jewellery manufacturer, has reported a stellar performance for the second quarter, showcasing robust growth and strategic expansions. The company's financial results and recent developments paint a picture of strong market positioning and ambitious growth plans.

Financial Highlights

Sky Gold And Diamonds recorded an impressive 93.1% year-on-year growth in revenue for Q2, reaching INR 1,484.00 crores. This substantial increase was accompanied by a remarkable 82% rise in Profit After Tax (PAT), which stood at INR 67.00 crores. The company's performance demonstrates its resilience and strength in a dynamic market environment.

Key Performance Metrics

Operational Highlights

• Volume Growth: The company increased its production volume to 544 kgs per month, marking a 20% growth compared to Q1.
• Product Mix: Sky Gold And Diamonds has seen a shift in its product mix, with 18Kt gold business now accounting for 7% of sales, and the studded jewellery segment doubling to 1.5% of total revenue.
• Advanced Gold Model: The company's advanced gold model now stands at 7% in Q2, contributing to improved gross margins.
• Working Capital Management: Sky Gold And Diamonds improved its working capital cycle by 7 days in September compared to March, reflecting better inventory management.

Strategic Expansions and Acquisitions

1. Speed Bangle Private Limited: Sky Gold And Diamonds completed the acquisition of Speed Bangle Private Limited (formerly Ganna N Gold), which is expected to strengthen the working capital cycle with its 100% advanced gold business model.

2. Shri Rishab Gold Acquisition: The company entered into a non-binding term sheet to acquire a majority stake in Shri Rishab Gold, a reputed Mumbai-based jewellery firm known for its strong presence in the mangalsutra segment.

3. International Expansion: Sky Gold And Diamonds established a new B2B sales office, Sky Souk Jewellery Trading LLC, in Dubai, UAE, to strengthen its foothold in the Middle East market.

Export Growth and Future Outlook

The company's exports have doubled this quarter, reaching approximately INR 150.00 crores, reflecting early success in its international expansion strategy. Sky Gold And Diamonds remains on track to achieve its revenue target of INR 5,400.00 crores, driven by new client acquisitions, operational efficiencies, and enhanced management capabilities.

Mangesh Chauhan, Managing Director of Sky Gold And Diamonds Limited, commented on the results, stating, "Our performance this quarter demonstrates our operational efficiency, customer trust, and ability to adapt to evolving market needs. We are committed to blending timeless heritage with contemporary design and comprehensive offerings."

Conclusion

Sky Gold And Diamonds Limited's impressive Q2 results, coupled with its strategic initiatives and expansions, underscore the company's strong position in the jewellery manufacturing sector. With a focus on operational efficiency, product diversification, and international growth, Sky Gold And Diamonds is poised to capitalize on the evolving dynamics of the gold and diamond jewellery market.

Investors and industry observers will be keenly watching Sky Gold And Diamonds' future performance as it continues to execute its growth strategy and navigate the competitive landscape of the jewellery industry.