Sky Gold & Diam.

Q1 FY27Consumer Durables

Sky Gold & Diam. Q1 FY27 earnings call: Revenue & Margins

Q1 FY27 earnings call: what management guided on revenue, margins and order book.

Price₹803

Market cap₹12.1K Cr

P/E36.2

Updated23 Sept 2026

Read4 min read

What the Q1 FY27 call signalled

3 of 4 strong

RevenueGood growth

MarginMargins steady

CapexCapex planned

Order bookOrder book rising

The short version

FY27 revenue guidance is INR 8,100 crores; Q1 run rate (~INR 8,050 crores annualized) already close to this target. Sky Gold targets a PAT margin of approximately 5.25%, aiming to reach INR1,000 crores PAT in the future.

From Sky Gold & Diam.'s Q1 FY27 earnings-call transcript · updated 23 Sept 2026.

Revenue & Sales Performance

Good growth

FY27 revenue guidance is INR 8,100 crores; Q1 run rate (~INR 8,050 crores annualized) already close to this target. Revised guidance expected post-Diwali after monitoring Q2 results.
Long-term revenue target for FY30 is INR 18,000 to 19,000 crores excluding Advance Gold business, which could make the overall market size INR 27,000 crores if included.
Volume growth in Q1 FY27 was 7% to 9%, reflecting a shift from 22 KT to lower karatage and studded jewelry.
Capacity utilization currently at ~60%, with room for 40% expansion; no major capex needed till 2028, focusing on asset-light growth.

2 more points management made on revenue & sales performance

Profitability & Margins

Sky Gold targets a PAT margin of approximately 5.25%, aiming to reach INR1,000 crores PAT in the future.
The company expects a sales increase of 30%-35% year-on-year, reflecting robust top-line growth.
Operating cash flow to PAT conversion is targeted at 20%, signifying strong cash profitability.
EBITDA margin guidance for FY27 is around 7.5%, with potential for upward revision after Diwali based on performance.
Gross margin improvement driven by higher contribution from Advance Gold (currently 17% vs. target 15%), non-22 KT products, and studded jewelry.
Ongoing margin expansion due to a shift towards better-margin products including natural and lab-grown diamonds.

2 more points management made on profitability & margins

See what Sky Gold & Diam. said on profitability & margins — free account, 30 seconds.

Capital Expenditure Plans

Capex planned

Sky Gold plans a capital expenditure of INR 80-100 crores around FY28 to expand capacity from 1.10 tons to 2.4 tons.
The expansion will take approximately 120 days to complete.
The company follows an asset-light model, opting for rental facilities rather than building factories, expecting a 120-day rental-free period from landlords.
This capex will be about 15%-20% of the projected PAT at that time (~INR 600 crores PAT).
Currently, the company is operating at ~60% capacity utilization, with room to grow before requiring capex.
Capex will focus on machinery, furniture, and fixtures.

2 more points management made on capital expenditure plans

Top-ranked in Consumer Durables

Ranked on what management guided this quarter

5x potential

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2Visdem Technosys₹96 Cr

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3₹2.5K Cr

Rev 1Mar 2

4₹1.7K Cr

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5₹1.7K Cr

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Rank buckets describe management commentary on revenue and margin. Not investment advice, and not a forecast of returns.

Fundraising & Capital Structure

There is no mention of any current or planned new fundraising through debt or equity in the provided excerpts.
The company emphasizes an asset-light model and plans modest capital expenditure (~INR80-100 crores) funded through internally generated cash flows.
Promoters have adopted a zero-salary model and link remuneration to dividends from operating cash flows, signaling a conservative capital approach.
Priority remains on debt reduction and balance sheet strengthening, with the aspiration to be net debt-free by 2030.
Future growth is to be funded predominantly through internally generated cash flows, avoiding external funding.

2 more points management made on fundraising & capital structure

See what Sky Gold & Diam. said on fundraising & capital structure — free account, 30 seconds.

Order Book & Pipeline

Order book rising

The transcript does not specify exact figures for the current or expected order book or pending orders.
Management highlighted strong customer relationships and an expanding client base, including onboarding large customers like P.N. Gadgil and CaratLane.
Emphasis on customized product development and collaboration with retailers to improve sell-through and reduce unsold inventory indicates a healthy and growing order pipeline.
Europe market exports have started with initial orders of 25 to 30 kg, reflecting new business development.

2 more points management made on order book & pipeline

Sky Gold & Diam. — Quarterly revenue & net profit

Revenue Net profit

Dec 2024

Mar 2025

Jun 2025

Sep 2025

Dec 2025

Mar 2026

Reported quarterly figures (₹ Cr). Latest: revenue ₹1.9K Cr, net profit ₹91 Cr. Revenue and profit are scaled separately — hover a quarter for exact figures.

Full financials →

What Sky Gold & Diam.'s management said in earlier quarters

Others in Consumer Durables this season

Khadim India Ltd (Q1 FY27)
Revenue from Operations for Q1 FY27 stood at ₹778.4 Mn, down by -18.7% YoY (Page 17, 15). Key investor presentation takeaways from Khadim India Ltd's Q1 FY27 in
Duroply Industries Ltd (Q1 FY27)
Year-on-year (YoY) revenue growth: 6.49% (Q1 FY27 vs Q1 FY26) . Key investor presentation takeaways from Duroply Industries Ltd's Q1 FY27 investor presentation
Deepa Jewellers Ltd (Q1 FY27)
Q1-FY27 Revenue from Operations: INR 4,311 Mn, up 39.0% YoY from INR 3,101 Mn in Q1-FY26 (Page 13, 11) . Key investor presentation takeaways from Deepa Jeweller
Priority Jewels Ltd (Q1 FY27)
Revenue from Operations for 3 months ended June 30, 2026 (3M27): ₹1,250 million (page 18). Key investor presentation takeaways from Priority Jewels Ltd's Q1 FY2

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Frequently Asked Questions

What were Sky Gold & Diam. Q1 FY27 results?

What is Sky Gold & Diam. share price analysis?

Sky Gold & Diam. currently shows a moderate growth signal based on ranking data. The stock trades at a P/E of 36.2 with a market cap of ₹12,137 Cr. Investors should review the full earnings analysis for detailed insights.

Is Sky Gold & Diam. planning capital expenditure?

Sky Gold plans a capital expenditure of INR 80-100 crores around FY28 to expand capacity from 1.10 tons to 2.4 tons.

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This analysis is AI-generated based on publicly available earnings data and the company's earnings call transcript. This is not investment advice. Please consult a SEBI-registered advisor before making investment decisions.