Sky Gold Q1 Revenue Up 78% YoY, PAT Rises 140%

SKYGOLD

All figures in ₹ crore unless otherwise stated:

Revenue Performance:

Profitability Metrics:

EBITDA: ₹156.7 crore (Q1 FY27) vs ₹71.4 crore (Q1 FY26) - 119.6% growth
EBITDA Margin: 7.8% (Q1 FY27) vs 6.3% (Q1 FY26) - 148 basis points improvement
Reported PBT: ₹134.8 crore (Q1 FY27) vs ₹58.9 crore (Q1 FY26) - 129.0% growth
Reported PBT Margin: 6.7% (Q1 FY27) vs 5.2% (Q1 FY26) - 149 basis points improvement
Reported PAT: ₹104.9 crore (Q1 FY27) vs ₹43.6 crore (Q1 FY26) - 140.7% growth
PAT Margin: 5.2% (Q1 FY27) vs 3.9% (Q1 FY26) - 136 basis points improvement

Operational Performance (excluding non-operational income):

Operational PBT: ₹134.8 crore (Q1 FY27) vs ₹58.6 crore (Q1 FY26) - 130.1% growth
Operational PBT Margin: 6.7% (Q1 FY27) vs 5.2% (Q1 FY26) - 152 basis points improvement
Operational PAT: ₹104.9 crore (Q1 FY27) vs ₹43.3 crore (Q1 FY26) - 142.3% growth
Operational PAT Margin: 5.2% (Q1 FY27) vs 3.8% (Q1 FY26) - 138 basis points improvement

The company achieved positive operating cash flow for the business
Sustained demand from organized jewellery retailers continued
Strong traction in lightweight and value-added jewellery categories
Consistent execution across manufacturing platform
Asset-light manufacturing model contributing to improved capital efficiency
Growing contribution of advance-gold business improving working capital efficiency
Shorter export receivable cycles supporting cash generation

Leadership Changes:

Mr. Akash Talesara appointed as Chief Executive Officer (CEO) to strengthen professional leadership, strategic direction and execution capabilities

Employee Benefits:

ESOPs granted to eligible employees, described as "one of the only companies in the sector" to provide such benefits
ESOPs aim to align employees with company's long-term growth, support retention, higher engagement and boost employee morale

Product Strategy:

Strategic focus on higher-value jewellery categories including diamond-studded jewellery
Planned expansion into lightweight and fine jewellery segment
Focus on improving product mix to support margin expansion and higher ROCE
Early focus on ultra-lightweight products and expanding portfolio across lower-carat categories

International Expansion:

Showcased product portfolio at Asiana UK-India Jewellery Expo in London
Generated strong buyer interest across UK and Europe markets
Built export order book of ₹30–45 crores
Exports described as "increasingly important part of our growth strategy"
Focus on developing long-term customer relationships and building export markets in calibrated and sustainable manner

Mr. Mangesh Chauhan, Managing Director, commented on the industry context and company strategy:

Jewellery industry moving towards organized players, design-led consumption and capital-efficient growth
Company well positioned to benefit from industry shift through strong retailer partnerships, manufacturing agility and expanding product portfolio
Q1 FY27 represents strong start to the year with robust growth and sustained margin improvement
Disciplined execution and achieving operating efficiency for scale driving performance
Healthy demand for lightweight, versatile and value-added jewellery continues
India has opportunity to emerge as global hub for design-led jewellery manufacturing
Manufacturing capabilities, craftsmanship, and FTAs with countries improving international market access

Established in 2005, headquartered in Mumbai
B2B jewellery manufacturer specializing in lightweight, design-led and studded jewellery
180+ designers, 1,50,000 sq. ft. of manufacturing space
Design library of 900,000+ SKU's
Serves India's leading jewellery retailers
Expanding into global markets