Sky Gold and Diamonds Limited (BSE: 541967 | NSE: SKYGOLD), a listed B2B gold jewellery manufacturer, has announced its consolidated financial results for the quarter ended June 30, 2026.
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The company started FY27 on a strong footing, reporting significant growth in revenue and profitability. The performance was supported by sustained demand from organised jewellery retailers, growing interest in lightweight and value-added jewellery, and consistent execution across its manufacturing operations.
Sky Gold and Diamonds Q1 FY27 Financial Highlights
For Q1 FY27, the company reported consolidated revenue of Rs 2,012.8 crore, up 77.9% year-on-year from Rs 1,131.2 crore in Q1 FY26. Revenue also increased 5.3% sequentially from Rs 1,911.5 crore in Q4 FY26.
EBITDA rose sharply by 119.6% YoY to Rs 156.7 crore, compared with Rs 71.4 crore in the year-ago quarter. The EBITDA margin improved to 7.8%, up from 6.3% a year earlier.
Reported PBT increased 129% YoY to Rs 134.8 crore, while reported PAT jumped 140.7% to Rs 104.9 crore from Rs 43.6 crore in Q1 FY26. The PAT margin improved to 5.2% from 3.9%.
Operational PAT stood at Rs 104.9 crore, marking a 142.3% year-on-year increase, while operational PBT rose 130.1% to Rs 134.8 crore.
| Particulars | Q1 FY27 | Q1 FY26 | YoY Growth | Q4 FY26 | QoQ Growth |
|---|---|---|---|---|---|
| Revenue | Rs 2,012.8 Cr | Rs 1,131.2 Cr | 77.9% | Rs 1,911.5 Cr | 5.3% |
| EBITDA | Rs 156.7 Cr | Rs 71.4 Cr | 119.6% | Rs 140.7 Cr | 11.4% |
| EBITDA Margin | 7.8% | 6.3% | +148 bps | 7.4% | +43 bps |
| Reported PBT | Rs 134.8 Cr | Rs 58.9 Cr | 129.0% | Rs 126.2 Cr | 6.8% |
| Reported PAT | Rs 104.9 Cr | Rs 43.6 Cr | 140.7% | Rs 90.7 Cr | 15.6% |
| PAT Margin | 5.2% | 3.9% | +136 bps | 4.7% | +47 bps |
| Operational PAT | Rs 104.9 Cr | Rs 43.3 Cr | 142.3% | Rs 87.0 Cr | 20.6% |
Operational PBT/PAT represents reported PBT/PAT after excluding non-operational income forming part of other income in the financial statements.
Mangesh Chauhan Shares Outlook on FY27 Growth
Commenting on the results, 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 diamond-studded 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.”
Lightweight and High-Value Jewellery Drive Growth
The company is focusing on higher-value jewellery categories while working to improve the efficiency of capital deployed across its operations.
Its strategy includes expanding its presence in lightweight and fine jewellery as well as diamond-studded jewellery. The company expects a richer product mix to support margin expansion, improve return on capital employed and drive sustainable profitability.
The growing adoption of its advance-gold model is also helping the company improve working-capital efficiency and optimise capital deployment.
Key Developments in Q1 FY27
New CEO Strengthens Leadership
Sky Gold and Diamonds appointed Akash Talesara as Chief Executive Officer (CEO) during the quarter. The appointment is aimed at strengthening professional leadership, strategic planning and execution capabilities.
ESOP Programme for Employees
The company has introduced an Employee Stock Ownership Plan (ESOP) for eligible employees. The initiative is intended to align employees with the company’s long-term growth objectives while supporting employee retention, engagement and morale.
Focus on Higher-Margin Jewellery Categories
Sky Gold and Diamonds continues to focus on diamond-studded jewellery while planning a strategic expansion into lightweight and fine jewellery. The company expects these categories to strengthen its product portfolio and support improved margins and ROCE.
Export Business Gains Momentum
The company showcased its jewellery portfolio at the Asiana UK-India Jewellery Expo in London, where it received strong interest from buyers across the UK and Europe.
Following the event, the company built an export order book estimated at Rs 30-45 crore, further supporting its international expansion strategy.
Sky Gold and Diamonds Targets Rs 8,100+ Crore Revenue in FY27
With strong Q1 performance, Sky Gold and Diamonds is targeting FY27 revenue of more than Rs 8,100 crore.
The company said its strategy will remain focused on maintaining a balance between revenue growth, profitability and cash-flow generation. Its asset-light manufacturing model, expanding advance-gold business, growing exports and focus on value-added jewellery are expected to remain important drivers of its growth strategy.
About Sky Gold and Diamonds
Established in 2005 and headquartered in Mumbai, www.skygold.co.in is a B2B jewellery manufacturer specialising in lightweight, design-led and studded jewellery.
The company has more than 180 designers, over 1,50,000 square feet of manufacturing space and a design library comprising more than 900,000 SKUs. It serves leading jewellery retailers in India and is expanding its presence in international markets.
FAQ’s
1. How did Sky Gold and Diamonds perform in Q1 FY27?
Sky Gold and Diamonds reported strong financial growth in Q1 FY27. Consolidated revenue increased 77.9% year-on-year to Rs 2,012.8 crore, while reported PAT rose 140.7% to Rs 104.9 crore. EBITDA also increased 119.6% to Rs 156.7 crore, reflecting improved profitability and operating efficiency.
2. What was Sky Gold and Diamonds’ Q1 FY27 revenue growth?
The company reported revenue of Rs 2,012.8 crore in Q1 FY27, compared with Rs 1,131.2 crore in Q1 FY26. This represents a year-on-year increase of 77.9%. Revenue also grew 5.3% sequentially from Rs 1,911.5 crore in Q4 FY26.
3. How much did Sky Gold and Diamonds’ profit increase in Q1 FY27?
Reported profit after tax increased 140.7% year-on-year to Rs 104.9 crore in Q1 FY27, compared with Rs 43.6 crore in Q1 FY26. Operational PAT rose 142.3% to Rs 104.9 crore, while the PAT margin improved to 5.2% from 3.9%.
4. What are the key growth areas for Sky Gold and Diamonds?
The company is focusing on lightweight, fine and diamond-studded jewellery, along with its advance-gold business and export operations. The company is also working to strengthen its presence in international markets, particularly in the UK and Europe, while improving capital efficiency through its asset-light manufacturing model.
5. What is Sky Gold and Diamonds’ FY27 revenue target?
Sky Gold and Diamonds is targeting revenue of more than Rs 8,100 crore in FY27. The company plans to achieve this goal by balancing sales growth, profitability and cash-flow generation while expanding its product portfolio, strengthening retailer partnerships and developing international export markets.
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