Sky Gold Q1 FY26 profit doubles to Rs 43.6 crore, revenue up 56%
ADVERTISEMENT Commenting on the result, Mangesh Chauhan, managing director of Sky Gold and Diamonds, said: 'Our Q1 FY26 performance aligns with our vision of building a Rs 7,600 crore enterprise by FY27. We're seeing strong traction in exports, product innovation, and client acquisition. With exports poised to contribute 25% of revenues in the coming two years, our Dubai expansion will position us as one of the leading integrated gold jewellery manufacturers from India."
The addition of 18 karat lightweight jewellery in its product portfolio has proven effective as high gold prices have led to customers shifting towards lightweight jewellery, the company said in a release.
The company has also added new B2B clients like Aditya Birla's Indriya, Reliance Retail, CaratLane, PN Gadgil, PM Jewellers, Pothys and Vega in Q1 of FY26. These partnerships boost visibility across high-velocity regional markets.The company has increased exports from 8% in FY25 to 12% in Q1FY26 and further plans for 25% of export revenue over the next 18-24 months. Middle East, Malaysia and Singapore markets continue to anchor Sky Gold's international strategy.The company release added that acquisition of the newly incorporated entity is the next step towards a fully functional sales and distribution office in Dubai (UAE) to tap into the Middle East region's rising demand for handcrafted, lightweight jewellery. Dubai is expected to drive Sky Gold's export-led growth roadmap.
(You can now subscribe to our ETMarkets WhatsApp channel)
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Economic Times
17 minutes ago
- Economic Times
Market Trading Guide: Dr Reddy's Labs, 3 smallcaps are stocks to buy on Tuesday. Sell view on this largecap
Buy Allied Blenders at Rs 477-478 | Upside: 6% Live Events Buy Navin Fluorine at Rs 5,102.50 | Upside: 5% Sell ONGC Aug futures at rise of Rs 240-241 | Downside: 3% Buy Dr Reddy's Labs Rs 1,280-1,290 | Upside: 5% Buy Syngene at Rs 690-680 | Upside: 7% (You can now subscribe to our (You can now subscribe to our ETMarkets WhatsApp channel India's headline indices began the week on a negative note falling for the third session in a row. The weakness was on account of selling pressure in IT, banks and realty socks. During the session, the Nifty faced resistance around the 50-EMA and remained below it until the on the day's action, Rupak De, Senior Technical Analyst at LKP Securities said that the index fell below 24,700 amid rising weakness in the market, indicating a bear grip. 'The RSI continues to support the bears with its negative crossover. In the short term, the index may remain under pressure, with a possibility of slipping towards 24,550. On the higher end, resistance is seen at 24,800 and 24,950,' De are 5 stock recommendations for Tuesday:Stop loss: Rs 461Target: Rs 505Allied Blenders and Distillers (ABDL) is exhibiting a higher high–higher low formation, signaling a continuation of the uptrend. In the recent session, it formed a strong bullish candle near the 9-EMA, underscoring robust buying interest at lower levels. As long as the stock sustains above Rs 461, the technical setup remains constructive. The immediate upside target is placed at Rs 505, supported by momentum indicators like RSI, which continues to hover in the bullish zone, and a healthy ADX, reflecting trend strength.(Drumil Vithlani, Technical Research Analyst at Bonanza)Stop Loss: Rs 4,977Target: Rs 5,275/5,350Navin Fluorine International has confirmed a breakout from a rounding bottom formation on the monthly chart, indicating sustained accumulation at higher levels. This bullish breakout is accompanied by a significant rise in volumes, highlighting strong institutional participation. The momentum is further validated by technical indicators across the daily and weekly timeframes, with the RSI trending upwards and price action consistently holding above key moving averages. As long as the stock maintains a close above Rs 4,977, the technical outlook remains constructive. In the near term, the stock is poised to test Rs 5,275, with an extended upside potential towards Rs 5,350.(Drumil Vithlani, Technical Research Analyst at Bonanza)Stop Loss: Rs 244Target: Rs 234The stock recently witnessed a breakdown from its consolidation phase, indicating weakness in the trend. It has also closed below its 20-day EMA, reinforcing the bearish sentiment. Additionally, the RSI is in a bearish crossover, further signaling negative momentum. Given these technical indicators, any upward move in the stock should be considered an opportunity to exit or initiate short positions. Traders are advised to use any bounce as a selling opportunity for lower target levels in the coming sessions.(Vatsal Bhuva, Technical Analyst at LKP Securities)Stop Loss: Rs 1,245Target: Rs 1,350The stock has witnessed a short-term consolidation breakout along with a falling trendline breakout on the daily chart, suggesting a shift in momentum. It is trading above both the 20-day and 100-day EMAs, reflecting underlying strength. Additionally, the RSI is in a bullish crossover, supporting positive momentum. With a favorable risk-to-reward ratio, one can consider buying the stock, placing a stop-loss at 1245 and aiming for a target of 1350.(Vatsal Bhuva, Technical Analyst at LKP Securities)Stop Loss: Rs 660Target: Rs 725The stock gave a consolidation breakout on July 17 and has since been sustaining above its 20-day EMA, indicating strength and positive momentum. In Monday's session, it also closed above its 100-day EMA, adding to the bullish sentiment. The RSI continues to hold in bullish crossover territory, suggesting ongoing buying interest. With these technical indicators aligning positively, the stock is expected to move higher and test its 200-day EMA zone in the near term, making it an attractive candidate for further upside.(Vatsal Bhuva, Technical Analyst at LKP Securities)(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)
Hans India
19 minutes ago
- Hans India
Total area sown under kharif crops in India crosses 829 lakh hectares
New Delhi, July 28: The total area sown under kharif crops in the ongoing current season has increased by 4 per cent to 829.64 lakh hectares, so far this year, compared with the corresponding figure of 797.91 lakh hectares in the same period last year, data released by the Ministry of Agriculture and Farmers Welfare on Monday showed. The increase in sown area augurs well for higher production, which, in turn, would increase the incomes of farmers and also help to keep food inflation in check. The official figures show that the area under rice is 245.33 lakh hectares as on July 27 this year, compared to 236.16 lakh hectares during the same period last year. The area under pulses such as urad and moong has been reported at 93.05 lakh hectares as compared to 89.94 lakh hectares during the same period last year. This increase is a positive development as an increase in the production of pulses plays a key role in controlling inflation. The area covered under coarse cereals or millets such as jowar, bajra, and ragi has shot up to 160.72 lakh hectares during the current season so far, from 154.97 lakh hectares in the same period of the previous year. The sown area has gone up in the current season as better monsoon rains have facilitated the sowing in unirrigated areas of the country, which account for close to 50 per cent of the country's farmland. The area under sugarcane has also increased to 55.16 lakh hectares from 54.88 lakh hectares in the same period of the previous year. The Cabinet Committee on Economic Affairs, chaired by Prime Minister Narendra Modi, on May 28 this year, approved an increase in the Minimum Support Prices (MSP) for 14 kharif crops for the marketing season 2025-26 to ensure remunerative prices to the growers for their crops and incentivise production. The highest absolute increase in MSP over the previous year has been recommended for nigerseed (Rs 820 per quintal), followed by ragi (Rs 596 per quintal), cotton (Rs 589 per quintal), and sesamum (Rs 579 per quintal).
Time of India
19 minutes ago
- Time of India
Quess Corp reports 4% rise in profits for June quarter
Synopsis Company ED & Group CEO Guruprasad Srinivasan said they have had a good start to this financial year with increased revenues and an EBITDA (earnings before interest, taxes, depreciation, and amortisation) at Rs 70 crore, up 10% year-on-year.
