Arthneeti

Sky Gold & Diamonds Q2 FY27 Share Price & Earnings Call Analysis

₹870.25-0.06% today
Market cap
₹13,473 Cr
P/E
40.22
ROE
28.88%
PEG
0.29
Price to sales
1.87
Debt to equity
0.73
52W high / low
₹1,061 / ₹302
EBITDA margin
7.24%
Net profit margin
4.41%
Promoter holding
51.74%
Sales (last year)
₹7,176 Cr

Sky Gold Limited is engaged in the business of designing, manufacturing, and marketing gold jewellery. The co. follows a B2B model where the products are mainly sold to mid-range jewellers and boutique stores who sell these products through online platforms and retail stores. [1] [2] [3]

Guidance scorecard · Q2 FY27 call

What Sky Gold & Diamonds's management guided
and where it ranks in Consumer Durables

#21of 84 in
Consumer Durables
Revenue20–40%MarginsFlatCapexPlannedFundraisingWhat management saidOrder bookRising

RevenueQ1 FY27 call

20–40%
  • 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 from Sky Gold & Diamonds's call on revenue

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Full Q1 FY27 analysis

MarginsQ1 FY27 call

Flat

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

Full Q1 FY27 analysis

CapexQ1 FY27 call

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 from Sky Gold & Diamonds's call on capex

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Full Q1 FY27 analysis

FundraisingQ1 FY27 call

See what Sky Gold & Diamonds said on fundraising — free account, 30 seconds.

Full Q1 FY27 analysis

Order bookQ1 FY27 call

Rising
  • 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 from Sky Gold & Diamonds's call on the order book

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Full Q1 FY27 analysis
Full Consumer Durables ranking

Ranges are what management guided for revenue growth and margins on the latest earnings call. Not investment advice, and not a forecast of returns.

Potential multibaggers · Q2 FY27

Potential multibaggers in Consumer Durables
on management's own guidance

  1. Strong growth
    2
  2. Strong growth
    1
  3. Strong growth
    3
See all potential multibaggersWhere does Sky Gold & Diamonds rank?

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Ranks describe management commentary on revenue and margin from the latest earnings call. Not investment advice.

Peers

Consumer Durables companies ranked on guidance

#CompanyRevenue guidedMargin guidedMarket capP/E
140%+Up 2%+₹151 Cr13.8
240%+Up 0–2%₹2,267 Cr12.2
340%+Up 0–2%₹1,934 Cr16.9
440%+Flat₹2,338 Cr39.6
540%+Flat₹1,975 Cr20.8
640%+Flat₹528 Cr16.7

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Sky Gold & Diamonds announcements

All announcements →

Financials of Sky Gold & Diamonds

Quarterly Results, Profit & Loss, Balance Sheet, Cash Flows, and Ratios are shown below as separate sections.

Shareholder Pattern

Sky Gold & Diamonds

Shareholding breakup across reporting periods.

Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026Sep 2026
Promoters +62.08%61.32%61.32%62.51%58.24%58.18%53.86%51.74%51.74%51.74%51.74%51.74%
FIIs +0.13%0.04%0.08%0.25%0.86%0.39%0.87%0.55%0.78%1.20%2.79%4.70%
DIIs +0.02%0.00%0.00%0.00%6.63%7.13%9.40%9.02%11.66%13.14%14.20%12.44%
Public +37.79%38.64%38.58%37.24%34.26%34.29%35.86%38.69%35.81%33.91%31.27%31.12%
No. of Shareholders13,57314,43613,76324,46567,11379,87290,4561,03,69493,15289,11881,8801,05,994

Financials of Sky Gold & Diamonds

Quarterly Results

Quarter-by-quarter operating performance

Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026Sep 2026
Sales +3964605137237699981,0581,1311,4841,7681,9122,0132,391
Expenses +3814424886867309419951,0601,3851,6451,7711,8562,201
Operating Profit1518253739576371100122141157190
OPM %3.9%3.9%4.9%5%5%6%6%6%7%7%7%8%8%
Other Income +102120754871787
Interest5578101214131821272526
Depreciation1222234423455
Profit before tax101218284649505988106126135166
Tax %25%25%25%25%20%26%24%26%24%24%28%22%22%
Net Profit +79142137373844678191105129
EPS in Rs0.680.681.031.602.692.492.602.934.335.205.446.678.26

Financials of Sky Gold & Diamonds

Profit & Loss

Annual income statement trend

Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales +7861,1541,7453,5486,2928,083
Expenses +7651,1171,6683,3515,8567,473
Operating Profit203778197436610
OPM %2.6%3.2%4.5%6%7%8%
Other Income +1114333639
Interest81121458099
Depreciation116111317
Profit before tax222554174379533
Tax %22%26%25%24%26%
Net Profit +171940133282406
EPS in Rs1.581.733.069.0417.7825.57
Dividend Payout %0%12%3%0%0%

Financials of Sky Gold & Diamonds

Balance Sheet

Capital structure and asset base

Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026Sep 2026
Equity Capital51113147155155
Reserves71872315371,0371,251
Borrowings +92146330630869964
Other Liabilities +681143134525
Total Liabilities1752525861,3572,1952,894
Fixed Assets +8935106376389
CWIP001100
Investments45689177440
Other Assets +1221754591,1741,7752,505
Total Assets1752525861,3572,1952,894

Financials of Sky Gold & Diamonds

Cash Flows

Operating, investing and financing cash movement

Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from Operating Activity +-7-6-158-272-45
Cash from Investing Activity +-2-20-106-157-124
Cash from Financing Activity +1043259426171
Net Cash Flow117-5-32
Free Cash Flow-8-9-178-287-140
CFO/EBITDA Share of operating profit converting into cash: CFO (before tax) / Operating Profit-20%2%-186%-120%15%

Financials of Sky Gold & Diamonds

Ratios

Working capital efficiency and return ratios

Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days2021214733
Inventory Days3628594450
Days Payable10136
Cash Conversion Cycle5549808877
Working Capital Days206142534
ROCE %17%18%21%27%

Guidance history

How Sky Gold & Diamonds's guidance has moved, call by call

CallRevenueMarginsCapexFundraisingOrder book
Q1 FY27 call →20–40%FlatPlanned—Rising
Q4 FY26 call →20–40%Up 0–2%PlannedNone planned—
Q3 FY26 call →20–40%Up 2%+PlannedNone planned—
Q2 FY26 call →20–40%Up 0–2%PlannedPlanned—

What management guided on each call, newest first. Not investment advice, and not a forecast of returns.

95out of 100

Momentum score · price trend

95 out of 100 — Strengthening

Over the past year its share price has done better than most of the stocks we track.

PeriodShare price changeBetter than … of 1,910 stocks
Last 12 months+144.7%96%
Last 6 months+90.7%96%
Last 3 months+25.9%91%
How we calculate it

“Better than 30%” means that over that period the share price did better than 30 out of every 100 stocks we track (1,910 Indian companies worth ₹500 Cr or more, with at least a year of prices).

The score weighs the longer periods more: 40% × 12-month + 40% × 6-month + 20% × 3-month. For Sky Gold & Diamonds: 0.4 × 96 + 0.4 × 96 + 0.2 × 91 = 95.

Strengthening is 70 and above, Steady 40 to 70, Cooling below 40. Scores are recalculated every night after the market closes.

Full methodology →

This describes only how the share price has moved up to 2 Nov 2026, compared with other stocks. It says nothing about the business, and it is not a prediction, a price target or a recommendation to buy or sell.

Continue your research

What Sky Gold & Diamonds's management said in earlier quarters

Others in Consumer Durables this season

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    Revenue from Operations for Q2 FY27: INR 8,618 million, up 7.5% YoY. Key investor presentation takeaways from Bata India Ltd's Q2 FY27 investor presentation — a

  • RBZ Jewellers Lt (Q2 FY27)

    Q2 FY27 Operational Revenue: INR 2,247 Mn, up 54.9% YoY (Q2 FY26: INR 1,451 Mn) (Page 32, 28) . Key investor presentation takeaways from RBZ Jewellers Ltd's Q2

  • Global Surfaces (Q2 FY27)

    Q2-FY27 revenue from operations was INR 599 Mn, a 10.7% increase YoY from INR 541 Mn in Q2-FY26 (Page 21). Key investor presentation takeaways from Global Surfa

  • Kabra Jewels (Q2 FY27)

    356 crore, up 14% YoY . Key results statement takeaways from Kabra Jewels Ltd's Q2 FY27 results statement — and how it ranks against sector peers.

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