SKY GOLD AND DIAMONDS LIMITED — Updates, 15-11-2024: Press Release

Sky Gold Limited has reported a robust financial performance for the quarter ended September 30, 2024. Consolidated revenue from operations surged by 94.2% year-on-year to ₹768.8 Cr, with an EBITDA of ₹38.8 Cr reflecting a 154.3% increase. The standout metric is a dramatic 405.2% rise in profit after tax (PAT), which reached ₹36.7 Cr. This impressive growth can be attributed to effective strategies, including product innovation and enhanced capacity utilization from recent acquisitions.

The company raised ₹270 Cr through a Qualified Institutional Placement, enabling further expansion and improvements in working capital. Sky Gold is on track to scale up operations and is targeting sales of ₹500 Cr from acquired entities Sparkling Chains and Starmangalsutra by Q4 FY25. Moving forward, the company aims for ₹6,300 Cr in revenue by FY27, buoyed by traditional peaks in jewelry sales during the festive season. The strategic focus on high-quality, lightweight jewelry and a growing international presence suggests a positive outlook for Sky Gold.