SKYGOLD

SKY Gold and Diamonds share price & financials

Price
₹621.3
Market cap
₹12.0k Cr
Sector
Consumer Durables
Calls analysed
9
Latest concall · Q1 FY27 · call held 10 Aug 2026

SKY Gold and Diamonds Limited Q1 FY27

Consolidated Revenue ₹2,013 cr +78%EBITDA ₹157 cr EBITDA Margin 7.8% Operating PAT ₹100 cr

What went well

  • Consolidated revenue of ₹2,013 crores, up 78% YoY, translating to an annualized run rate of ~₹8,050 crores, close to FY27 guidance.
  • Consolidated gross margin increased by 27 bps to 9.3% in Q1 FY27, driven by a strategic shift towards higher-margin products.
  • Operating PAT crossed ₹100 crores for the first time, reflecting strong bottom-line performance.

What to watch

  • Inventory days increased sequentially from 59 days in March to 60 days in June, though management attributed this to a strategic shift towards higher-margin studded products.
  • An incident involving ₹10.7 crores was disclosed, with ₹3.5 crores already recovered and the balance under ongoing legal and investigative processes, limiting specific commentary.
Read the full call →

What SKY Gold and Diamonds Limited does

Sky Gold and Diamonds Limited designs and manufactures casting gold jewellery — rings, chains, mangalsutra, bracelets, pendants and earrings, often set with American diamonds, natural/lab-grown diamonds and gemstones — from a single facility in Navi Mumbai equipped with German and Italian precision-casting and 3D-printing machinery. It runs a B2B model, supplying finished jewellery to leading jewellery retail chains, wholesalers and distributors (including relationships with Reliance Jewels, Malabar Gold, Kalyan Jewellers, Joyallukas and Caratlane) rather than selling directly to consumers, and it also operates an "advance gold" job-work arrangement in which the customer supplies the gold and the company bills only the making charges. The group has broadened its category mix through acquisitions in mangalsutra (Starmangalsutra, Sparkling Chains) and bangles (Speed Bangle, formerly Ganna N Gold; a partnership interest in Shri Rishab Gold), and exports finished jewellery to the Middle East and Southeast Asia through a Dubai office.

Segments

  • B2B Jewellery Manufacturing (Casting)
  • Advance Gold (job-work)
  • Exports
Manufacturing facility
1,35,000 sq ft (Navi Mumbai)
Installed manufacturing capacity
14.4 tonnes/year
Employees
~1,500, including 110+ in-house designers
Design catalog
9,00,000+ (9 lac) unique designs
Design & merchandising team
~150 professionals
Distribution reach (via B2B clients)
2,000+ retail outlets in India; 500+ outlets internationally
Founded 2005Headquarters Navi Mumbai, Maharashtra, IndiaEmployees 1,500 (FY26 (year ended March 2) Company website

Guidance record · Q1 FY27

what the last two calls moved 30 tracked 3 delivered 3 missed 24 open
  • FY26 Consolidated Revenue delivered said Q2 FY25 Promised: INR 6,300 crores Q1 FY27: Promise relates to a past financial year. Status remains achieved.
  • Diamond Jewellery Sales as % of Turnover missed said Q1 FY25 Promised: 10%-15% in four quarters Q1 FY27: Studded jewelry grew from 1.65% to 2.1% of revenues. While growing, this remains significantly below the original 10-15% target set in Q1 FY25.
  • US Market Entry delayed said Q1 FY25 Promised: Entry planned in two quarters Q1 FY27: Focus has shifted to the UK and European markets, with initial orders secured. No mention of US market entry, confirming the continued delay and strategic shift away from the original timeline.

All 30 tracked — every revision, and every one management stopped mentioning.

Open the guidance ledger

Quarterly results

Q1 FY27: revenue up 78.0%, net profit up 138.6% against the same quarter last year.

₹ Cr · quarterly
Line itemQ2 FY25Q3 FY25Q4 FY25Q1 FY26Q2 FY26Q3 FY26Q4 FY26Q1 FY27
Revenue769 998 1,058 1,131 1,484 +93%1,768 +77%1,912 +81%2,013 +78%
EBITDA39 57 63 71 100 +156%122 +114%141 +124%157 +121%
Net profit37 37 38 44 67 +81%81 +119%91 +139%105 +139%
How to read this

₹ crore, as filed. The percentage beside a figure is the change against the same quarter a year earlier — never the quarter before, which would make every seasonal business look like it collapses and booms each year.

Performance +195.7% 1Y

₹400₹600₹800Sept 25Oct 25Dec 25Jan 26Mar 26Apr 26Jun 26Jul 26Sept 26Q2 FY26 — 14 Nov 2025Q3 FY26 — 10 Feb 2026Q4 FY26 — 27 May 2026Q1 FY27 — 10 Aug 2026

1Y: ₹279.85 on 10 Sept 2025 → ₹827.4. High ₹848.1 (26 Aug 2026), low ₹263.25 (30 Sept 2025).

How the price took the results

close before → close after

Q1 FY27
+8.4%
10 Aug
Q4 FY26
+7.1%
28 May
Q3 FY26
−6.0%
10 Feb
Q2 FY26
+0.6%
14 Nov

The move from the last close before each results date to the first close after it — the market's first read on the quarter, not the quarter itself.

Financials, as filed

Revenue grew 76.0% a year over 3 years, FY23 to FY26. Operating margin widened to 6.9%.

Year endingFY23FY24FY25FY26
Revenue₹1.2k Cr₹1.7k Cr₹3.5k Cr₹6.3k Cr
Operating profit₹36 Cr₹77 Cr₹196 Cr₹434 Cr
Operating margin3.1%4.4%5.5%6.9%
Interest₹11 Cr₹21 Cr₹44 Cr₹79 Cr
Depreciation₹0 Cr₹6 Cr₹11 Cr₹13 Cr
Net profit₹18 Cr₹41 Cr₹133 Cr₹283 Cr
Net margin1.6%2.3%3.7%4.5%
Cash from operations₹-6 Cr₹-158 Cr₹-273 Cr₹-45 Cr
Free cash flow₹-9 Cr₹-178 Cr₹-288 Cr₹-140 Cr
ROCE17.0%18.0%21.0%27.0%
How to read this

From the company's own filings. Margins are computed from the filed sums; a year with an incomplete quarter is left blank rather than estimated.

Balance sheet

Year endingFY22FY23FY24FY25FY26
Equity capital₹5 Cr₹11 Cr₹13 Cr₹155 Cr₹155 Cr
Reserves₹71 Cr₹87 Cr₹231 Cr₹882 Cr₹1.0k Cr
Borrowings₹92 Cr₹146 Cr₹330 Cr₹814 Cr₹869 Cr
Other liabilities₹6 Cr₹8 Cr₹11 Cr₹91 Cr₹127 Cr
Total liabilities₹175 Cr₹252 Cr₹586 Cr₹1.9k Cr₹2.2k Cr
Fixed assets₹8 Cr₹9 Cr₹35 Cr₹328 Cr₹376 Cr
Capital work in progress₹0 Cr₹0 Cr₹1 Cr₹110 Cr₹0 Cr
Investments₹45 Cr₹68 Cr₹91 Cr₹78 Cr₹44 Cr
Other assets₹122 Cr₹175 Cr₹459 Cr₹1.4k Cr₹1.8k Cr
Total assets₹175 Cr₹252 Cr₹586 Cr₹1.9k Cr₹2.2k Cr
How to read this

As filed each year. A line the company does not report — deposits for a non-lender, for instance — is left out rather than shown as a row of dashes.

Who owns it

As disclosed at Jun 2026

Since Jun 2025, DIIs added +4.80 pp while the public trimmed −4.59 pp. The shareholder count shrank 9% to 81,880.

Promoters
51.7%
FIIs
2.8%
DIIs
14.2%
Public
31.3%

Since Jun 2025

  • DIIs +4.80 pp
  • Public −4.59 pp
  • Promoters −2.12 pp

How it drifted, 12 quarters

Over this window promoters fell from 73.5% to 51.7% — −21.8 pp.

Sep '23Dec '24Jun '26

Ownership split by quarter, oldest first. Sep '23: Promoters 73.5%, Public 26.4%.Dec '23: Promoters 62.1%, FIIs 0.1%, DIIs 0.0%, Public 37.8%.Mar '24: Promoters 61.3%, FIIs 0.0%, Public 38.6%.Jun '24: Promoters 61.3%, FIIs 0.1%, Public 38.6%.Sep '24: Promoters 62.5%, FIIs 0.3%, Public 37.2%.Dec '24: Promoters 58.2%, FIIs 0.9%, DIIs 6.6%, Public 34.3%.Mar '25: Promoters 58.2%, FIIs 0.4%, DIIs 7.1%, Public 34.3%.Jun '25: Promoters 53.9%, FIIs 0.9%, DIIs 9.4%, Public 35.9%.Sep '25: Promoters 51.7%, FIIs 0.6%, DIIs 9.0%, Public 38.7%.Dec '25: Promoters 51.7%, FIIs 0.8%, DIIs 11.7%, Public 35.8%.Mar '26: Promoters 51.7%, FIIs 1.2%, DIIs 13.1%, Public 33.9%.Jun '26: Promoters 51.7%, FIIs 2.8%, DIIs 14.2%, Public 31.3%.

Who was buying across the market this quarter →

Who bought this quarter

since Mar 2026

Disclosed holders that added to a position or appeared on the register for the first time, biggest addition first.

The same filing shows 2 holders trimming and 2 off the list — both are in the register beside this.

Who is on the register

Named in the Jun 2026 filing

Every holder of SKY Gold and Diamonds Limited above SEBI's 1% disclosure line, and what changed since Mar 2026.

HolderStakeChange
Mangesh Ramesh Chauhan 17.23%unchanged
Darshan Ramesh Chauhan 16.48%unchanged
Mahendra Champalal Chauhan 15.13%unchanged
Motilal Oswal Small Cap Fund Mutual fund4.16%−0.43 pp
Bandhan Small Cap Fund Mutual fund3.67%+0.83 pp
Acron Consultants Llp 2.73%unchanged
Bank Of India Flexi Cap Fund Mutual fund2.67%−0.06 pp
Kotak Mahindra Life Insurance Company Ltd Insurer1.67%unchanged
Mahendra C Chauhan Huf . 0.91%unchanged
Dipika Mangesh Chauhan 0.46%unchanged
Mamta Mahendra Chauhan 0.46%unchanged
Heena Darshan Chauhan 0.46%unchanged

A holder disappearing from this list has fallen below the 1% line — it is not necessarily a sale. Percentages are of total shares, as disclosed in the company's own filing. Who was buying across the market this quarter.

What the price assumes

Attractive

To justify its price of ₹827, this stock must grow earnings at 26% every year for 7 years. Our analysis caps realistic growth at ~143%. At that growth it is worth ₹66010 — upside of 7878%.

Growth the price implies
26.2% a year
for 7 years, fading to 4%
It has actually compounded at
142.6% a year
net profit, FY23–FY26
The gap
-1.2 pp
7878% downside if it only repeats history
Price today ₹827.4 Value at the reference growth ₹66,009.54

Change the assumptions yourself →

All earnings calls (8)

Read the Q1 FY27 call →

Learn to analyse SKY Gold and Diamonds Limited

Guides on how to read this kind of business and the numbers that matter.