Latest news with #SkyGoldandDiamonds
Economic Times
5 days ago
- 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
5 days ago
- 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.
Business Standard
6 days ago
- Business
- Business Standard
Sky Gold Q1 PAT soars 105% YoY to Rs 44 cr
Sky Gold and Diamonds reported 105.32% surge in consolidated net profit to Rs 43.59 crore in Q1 FY26 as against Rs 21.23 crore posted in Q1 FY25. Revenue from operations jumped 56.45% to Rs 1,13,123.66 crore for the quarter ended 30 June 2025. Profit before tax (PBT) stood at Rs 58.87 crore in Q1 FY26, marking a 106.92% increase from Rs 28.45 crore recorded in Q1 FY25. Total expenses jumped 54.74% YoY to Rs 1,076.71 crore during the quarter. Cost of material consumed stood at Rs 1,182.69 crore (up 72.96% YoY), employee benefit expenses was at Rs 11.98 crore (up 150.10% YoY) and finance cost stood at Rs 13.27 crore (up 65.87% YoY) during the period under review. Sky Gold and Diamonds engaged in the business of designing, manufacturing and marketing of Gold Jewelries since 2008. The company offers a wide variety of designs to suit the preferences of the end customer. It provides an extensive range of designs and also uses studded American diamonds and colored stones in many of their jewellery products. The scrip hit a lower circuit of 5% to Rs 324.95 on the BSE.
