Sky Gold & Diamonds Reports Record Q1 FY27 Performance

Sky Gold and Diamonds Limited (BSE: 541967 | NSE: SKYGOLD), a listed B2B gold jewellery manufacturer, today announced its consolidated financial results for the quarter ended June 30, 2026.

The Company commenced FY27 with healthy growth in revenue and profitability, supported by sustained demand from organised jewellery retailers, continued traction in lightweight and value-added jewellery, and consistent execution across its manufacturing platform.

Strong Top-Line Growth Across Quarters

Sky Gold reported consolidated revenue from operations of ₹2,012.8 crore for Q1 FY27, marking an impressive 77.9% year-on-year (YoY) increase compared to ₹1,131.2 crore in Q1 FY26. On a sequential basis, revenue grew by 5.3% over the ₹1,911.5 crore recorded in Q4 FY26.

This performance follows a stellar FY26 financial year, where the company recorded total revenues of ₹6,294.9 crore, representing a 77.4% surge over FY25 revenues of ₹3,548.0 crore.

EBITDA Margin Expands by 148 bps

Earnings Before Interest, Tax, Depreciation, and Amortization (EBITDA) more than doubled for the quarter, reaching ₹156.7 crore in Q1 FY27-up 119.6% YoY from ₹71.4 crore in Q1 FY26 and up 11.4% sequentially from ₹140.7 crore in Q4 FY26.

EBITDA margin expanded significantly by 148 basis points YoY to 7.8% in Q1 FY27, up from 6.3% in Q1 FY26 and 7.4% in Q4 FY26, underscoring enhanced operational efficiencies.

Profitability Highlights

Reported Profit Before Tax (PBT): Stood at ₹134.8 crore for Q1 FY27, registering a 129.0% YoY growth from ₹58.9 crore in Q1 FY26 and a 6.8% Q-o-Q increase over ₹126.2 crore in Q4 FY26. PBT margin improved by 149 bps YoY to 6.7%.

Reported Profit After Tax (PAT): Surged by 140.7% YoY to reach ₹104.9 crore in Q1 FY27 compared to ₹43.6 crore in Q1 FY26. Sequentially, PAT grew 15.6% from ₹90.7 crore in Q4 FY26. PAT margin expanded by 136 bps YoY to 5.2%.

Operational Profit Metrics

Excluding non-operational income from other income, the company demonstrated solid underlying business gains:

Operational PBT: Reached ₹134.8 crore in Q1 FY27, up 130.1% YoY (vs. ₹58.6 crore in Q1 FY26) and up 10.1% Q-o-Q (vs. ₹122.4 crore in Q4 FY26). Operational PBT margin expanded 152 bps YoY to 6.7%.

Operational PAT: Stood at ₹104.9 crore, reflecting a 142.3% YoY surge from ₹43.3 crore in Q1 FY26 and a 20.6% sequential increase from ₹87.0 crore in Q4 FY26. Operational PAT margin expanded 138 bps YoY to 5.2%.

For full year FY26 context, Sky Gold recorded reported PAT of ₹281.8 crore (up 112.4% YoY) on a PBT of ₹379.1 crore (up 117.6% YoY), reinforcing the company's consistent trajectory of rapid profitable expansion.

Commenting on the result, Mr. Mangesh Chauhan, Managing Director, Sky Gold and Diamonds Limited, said: "The jewellery industry is moving towards organised players, design-led consumption and more capital-efficient growth. Sky Gold is well positioned to benefit from this shift, supported by strong retailer partnerships, manufacturing agility and an expanding product portfolio. Q1FY27 has been a strong start to the year, with robust growth and sustained margin improvement reflecting disciplined execution and achieving operating efficiency for scale.

We continue to see healthy demand for lightweight, versatile and value-added jewellery. Our early focus on ultra-lightweight products, together with our expanding portfolio across lower-carat and diamondstudded categories, enables us to respond quickly to changing consumer preferences and strengthen our position in the organised jewellery manufacturing segment.

Our asset-light manufacturing model, the growing contribution of the advance-gold business and shorter export receivable cycles are improving capital efficiency, supporting cash generation, leading to us achieving Positive Operating Cash Flow for the business.

Exports are becoming an increasingly important part of our growth strategy. India has a strong opportunity to emerge as a global hub for design-led jewellery manufacturing, supported by its manufacturing capabilities, craftsmanship, and more FTAs with countries leading to improved access to international markets. The response we have received from customers in the UK and Europe gives us confidence that Sky Gold can build a meaningful international business over the coming years. Our focus will be on developing long-term customer relationships and building export markets in a calibrated and sustainable manner.

As we progress towards our FY27 revenue of ₹8,100+ crore, our focus remains on balancing sales growth, profitability growth and cash flow generation. This disciplined and balanced approach will enable us to strengthen our financial position and further reinforce our presence in the organised jewellery manufacturing industry."

Operational Performance & Growth Drivers

Sky Gold and Diamonds is strategically focusing on higher-value jewellery categories while improving the efficiency of capital deployed across the business. The Company is expanding its presence in lightweight and fine jewellery and diamond studded jewellery, to support a richer product mix and margin expansion. At the same time, increased adoption of the advance-gold model is helping improve working-capital efficiency and optimise capital deployment across the business.

Key highlights for Q1FY27 include:

Strengthened leadership: Mr Akash Talesara was appointed as Chief Executive Officer (CEO), strengthening the Company's professional leadership, strategic direction and execution capabilities.

ESOP to eligible employees: One of the only companies in the sector to provide ESOPs to eligible employees, aligning employees with the Company's long-term growth while supporting retention, higher engagement and boosting employee morale.

Strategic Focus on High-Margin Categories: Continued focus on diamond-studded jewellery, alongside planned strategic expansion to foray into the lightweight and fine jewellery segment thereby strengthening Company's product mix and supporting higher margins, improved ROCE and sustainable profitable growth.

Strengthening International Presence: Showcased product portfolio at the Asiana UK-India Jewellery Expo in London, generating strong buyer interest across the UK and Europe, building an order book of ₹30-45 crores, further strengthening the Company's export momentum and international growth strategy.

Shares of Sky Gold Ltd was last trading in BSE at Rs. 716.90 as compared to the previous close of Rs. 692.50. The total number of shares traded during the day was 239769 in over 5894 trades.

The stock hit an intraday high of Rs. 728.25 and intraday low of 690.55. The net turnover during the day was Rs. 169760760.00.

Source : Equity Bulls

Keywords

SkyGoldandDiamonds INE01IU01018 Q1FY27 Q1FY2027 ResultUpdate