Regulatory Disclosure

Trading Symbol: SKYGOLD

Q1 FY27 Financial Performance

Revenue: ₹2,012.8 crore (up 77.9% YoY from ₹1,131.2 crore in Q1 FY26; up 5.3% QoQ from ₹1,911.5 crore in Q4 FY26)

EBITDA: ₹156.7 crore (up 119.6% YoY from ₹71.4 crore; up 11.4% QoQ from ₹140.7 crore)

EBITDA Margin: 7.8% (improved 148 bps YoY from 6.3%; improved 43 bps QoQ from 7.4%)

Reported PBT: ₹134.8 crore (up 129.0% YoY from ₹58.9 crore; up 6.8% QoQ from ₹126.2 crore)

Reported PBT Margin: 6.7% (improved 149 bps YoY from 5.2%; improved 10 bps QoQ from 6.6%)

Reported PAT: ₹104.9 crore (up 140.7% YoY from ₹43.6 crore; up 15.6% QoQ from ₹90.7 crore)

Reported PAT Margin: 5.2% (improved 136 bps YoY from 3.9%; improved 47 bps QoQ from 4.7%)

Operational PBT: ₹134.8 crore (up 130.1% YoY from ₹58.6 crore; up 10.1% QoQ from ₹122.5 crore)

Operational PBT Margin: 6.7% (improved 152 bps YoY from 5.2%; improved 29 bps QoQ from 6.4%)

Operational PAT: ₹104.9 crore (up 142.3% YoY from ₹43.3 crore; up 20.6% QoQ from ₹87.0 crore)

Operational PAT Margin: 5.2% (improved 138 bps YoY from 3.8%; improved 66 bps QoQ from 4.6%)

Cost Breakdown:

  • Cost of Materials Consumed & Traded Goods: ₹2,080.5 crore
  • Changes in Inventories of FG & WIP: (₹255.2) crore
  • Gross Profit: ₹187.5 crore (9.3% margin)
  • Employee Benefits Expense: ₹16.8 crore
  • Other Expenses: ₹14.0 crore
  • Other Income: ₹8.0 crore
  • Depreciation and Amortization: ₹4.5 crore
  • Finance Costs: ₹25.4 crore
  • Tax Expenses: ₹29.9 crore

Management and Governance Updates

CEO Appointment: Akash Talesara appointed as CEO, bringing over two decades of experience in the gems and jewellery industry. He is a graduate of NIFT with advanced management education from IIM.

Auditor Appointment: M S K A & Associates LLP, Chartered Accountant (member firm of BDO International) appointed as Statutory Auditors. The current quarter's financials have been reviewed by them.

Promoter Compensation: Promoters will not draw salaries from FY27 onward. All promoter payouts will be solely through dividends generated from operating cash flows.

Business Development and Expansion

Export Expansion: Showcased product portfolio at Asiana UK-India Jewellery Expo, London. Generated initial order book of ₹30-45 crore from buyers across UK and Europe.

Product Mix Strategy:

  • Natural diamonds currently account for ~2% of business, with objective to double this contribution
  • Scaling presence in lab-grown diamond segment
  • Advance gold business expected to contribute ~30% of volumes by FY30 (currently 11.5% in FY26)

Operational Improvements:

  • Implemented ERP leading to reduction of gold loss from 1.5% to 0.5%
  • Manufacturing footprint expanded to 135,000 sq. ft.
  • Dubai office opened with experienced team

Historical Financial Performance

FY26 Performance:

  • Revenue: ₹6,294.9 crore
  • EBITDA: ₹434.3 crore (6.9% margin)
  • PAT: ₹281.8 crore (4.5% margin)

FY25 Performance:

  • Revenue: ₹3,548.0 crore
  • EBITDA: ₹196.4 crore (5.5% margin)
  • PAT: ₹132.7 crore (3.7% margin)

FY24 Performance:

  • Revenue: ₹1,745.5 crore
  • EBITDA: ₹77.2 crore (4.4% margin)
  • PAT: ₹40.5 crore (2.3% margin)

Vision 2030 and Future Guidance

FY27 Guidance (Revised Upwards):

  • Revenue: ~₹8,100 crore
  • EBITDA Margin: ~7.0-7.5%
  • PAT Margin: 4.5%-4.75%

FY30 Guidance:

  • Revenue: ~₹18,000-19,000 crore
  • PAT Margin: ~5.25%+ (aggregating to ₹945 crore)
  • ROCE: 27%+
  • CFO/PAT: ~20%+
  • Net debt positive

Key Growth Levers:

  • Export mix improvement
  • Higher design complexity and value-added jewellery
  • Expansion into 18kt, 9kt, and diamond-studded jewellery
  • Advance gold contributing ~30% of volumes by FY30

Corporate Background

Founded in 2005 by Mangesh Chauhan, Mahendra Chauhan, and Darshan Chauhan. The company has evolved from promoter-led operations to a professionally managed organization with main-board listing on NSE and BSE. Current market capitalization exceeds ₹5,000 crore.