Latest news with #MangeshChauhan
Economic Times
24-07-2025
- Business
- Economic Times
Sky Gold Q1 FY26 profit doubles to Rs 43.6 crore, revenue up 56%
The net profit of listed gold and diamond jewellery manufacturer Sky Gold and Diamonds doubled in the Q1 of FY26 to Rs 43.6 crore from Rs 21.2 crore in the corresponding quarter of FY25. The revenue from operations went up by 56.5 per cent to Rs 1,131 crore from Rs 723 crore in the Q1 of FY25. 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 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 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)
Time of India
24-07-2025
- Business
- Time of India
Sky Gold Q1 FY26 profit doubles to Rs 43.6 crore, revenue up 56%
The net profit of listed gold and diamond jewellery manufacturer Sky Gold and Diamonds doubled in the Q1 of FY26 to Rs 43.6 crore from Rs 21.2 crore in the corresponding quarter of FY25. The revenue from operations went up by 56.5 per cent to Rs 1,131 crore from Rs 723 crore in the Q1 of FY25. 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." Explore courses from Top Institutes in Please select course: Select a Course Category Data Science Data Analytics others Artificial Intelligence Finance CXO MBA Others Management Technology Public Policy Design Thinking Digital Marketing Healthcare Product Management Project Management PGDM healthcare Operations Management Cybersecurity Leadership Data Science MCA Degree Skills you'll gain: Duration: 11 Months IIT Madras CERT-IITM Advanced Cert Prog in AI and ML India Starts on undefined Get Details Skills you'll gain: Duration: 30 Weeks IIM Kozhikode SEPO - IIMK-AI for Senior Executives India Starts on undefined Get Details Skills you'll gain: Duration: 11 Months E&ICT Academy, Indian Institute of Technology Guwahati CERT-IITG Postgraduate Cert in AI and ML India Starts on undefined Get Details Skills you'll gain: Duration: 10 Months IIM Kozhikode CERT-IIMK DABS India Starts on undefined Get Details Skills you'll gain: Duration: 10 Months E&ICT Academy, Indian Institute of Technology Guwahati CERT-IITG Prof Cert in DS & BA with GenAI India Starts on undefined Get Details 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. Live Events 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.
Fashion Network
21-04-2025
- Business
- Fashion Network
Sky Gold acquires jewellery manufacturer Ganna N Gold for Rs 225 crore
Sky Gold and Diamonds Ltd has acquired 100 percent stake in Mumbai-based jewellery manufacturer Ganna N Gold for Rs 225 crore ($26.4 million). With this acquisition, Sky Gold will expand its product portfolio with its foray into manufacturing of machine-made and handmade bangles. The company claims that Ganna N Gold's acquisition will improve its capability to fulfill 75 percent of the product requirements of gold jewellery retail store customers. Commenting on the acquisition, Mangesh Chauhan, managing director of Sky Gold in a statement said, 'We are elated to welcome Ganna N Gold to the Sky Gold and Diamonds family. In line with our expansion strategy, we have now concluded our third acquisition in the past six months and in this process, explored synergies and strengthened margins.' 'The acquisition of Ganna N Gold comes with its own unique advantages. First, being a credible job work manufacturer, the company will enable us further to improve our product portfolio. Second, being an all-share swap deal and zero inventory business nature, there will be no immediate requirement for any additional cash flows,' he added. Founded in 2021, Ganna N Gold has inhouse capability to offer customized designs and intricate patterns in gold bangles segment.
