Sky Gold and Diamonds Limited, formerly Sky Gold Limited, announced its consolidated unaudited financial results for the quarter and half-year ended September 30, 2025.
The gold jewellery manufacturer demonstrated exceptional growth powered by 2 strategic acquisitions in Q2 FY26, operational scale-up up and strong festive season demand across its Make in Bharat for the World positioning in domestic and international markets.
For the quarter ended September 30, 2025, Sky Gold achieved consolidated revenue from operations of ₹1,484.46 crore, registering exceptional growth of 93% YoY and 31% QoQ. Total income stood at ₹1,492.45 crore, up 89% YoY and 31% QoQ compared to the respective periods.
Profit before tax reached ₹87.90 crore, marking an expansion of 90% YoY and 49% QoQ. Profit after tax stood at ₹66.99 crore, demonstrating strong growth of 82% YoY and 54% QoQ. Basic and diluted earnings per share were ₹4.38 for the quarter compared to ₹3.46 in Q2 FY25.
For the half year ended September 30, 2025, consolidated revenue from operations reached ₹2,615.70 crore, up 75% from ₹1,491.88 crore in H1 FY25. Total income totalled ₹2,628.03 crore, reflecting 74% growth year on year.
Half-year PBT stood at ₹146.77 crore, growing 97% from ₹74.64 crore previously. PAT came to ₹110.58 crore, up 91% from ₹57.94 crore in H1 FY25. Earnings per share for the half year were ₹7.38, up 32% YoY.
Read More: P N Gadgil Jewellers Q2 FY26 Earnings Results: PAT Surges 127% YoY!
On July 30, 2025, the company acquired 100% equity shareholding in Speed Bangle Private Limited (previously Ganna N Gold Private Limited) for purchase consideration of ₹224.91 crore. Consideration was discharged through issuance of 60,95,074 equity shares at ₹369 per share. On September 4, 2025, Sky Gold acquired 100% shareholding in Sky Souk Jewellery Trading LLC for 1,00,001 Dirhams through cash payment.
These acquisitions resulted in recognition of goodwill amounting to ₹207.86 crore, with a fair value of net assets acquired at ₹17.29 crore against consideration of ₹225.15 crore. The consolidation includes 5 subsidiaries: Starmangalsutra Private Limited, Sparkling Chains Private Limited, Speed Bangle Private Limited (from July 30), Sky Souk Jewellers LLC (from September 4) and exclusion of Sitaare Gold and Diamonds Limited, which ceased being a subsidiary from April 21, 2025.
With effect from April 1, 2025, the group changed the depreciation method for property, plant and equipment from Written Down Value to Straight Line Method in accordance with Ind AS 16 and Ind AS 8. Q2 FY26 depreciation expense of ₹0.80 crore is a net reversal of the excess in Q1 FY26.
This change resulted in the current quarter depreciation being lower and profit before tax being higher by ₹2.02 crore.
Total assets stood at ₹1,941.13 crore as of September 30, 2025, up from ₹1,356.84 crore as at March 31, 2025. Inventories increased to ₹446.33 crore from ₹396.86 crore. Trade receivables improved to ₹636.84 crore from ₹452.19 crore. Total equity reached ₹1,036.62 crore compared to ₹683.80 crore previously.
Current borrowings stood at ₹748.86 crore, while non-current borrowings were ₹42.64 crore. Cash and bank balances totalled ₹228.89 crore, including cash equivalents of ₹11.60 crore and fixed deposits of ₹217.29 crore, demonstrating a strong liquidity position to support growth initiatives.
The Board of Directors of Starmangalsutra Private Limited, a wholly owned subsidiary, at its meeting held on October 18, 2025, approved the acquisition of 51% partnership interest in Shri Rishab Gold for cash consideration of up to ₹10 crore.
The acquisition is subject to the receipt of necessary statutory approvals and is expected to be completed within 12 months. Consolidated financial results do not include the results of Shri Rishab Gold since the acquisition is not yet completed.
The Board approved notice of postal ballot seeking members approval for appointment of Mr Virupakshi Kolla as Non Executive Independent Director, increase in borrowing powers under section 180(1)(c), creation of charge on movable and immovable properties under section 180(1)(a), and increase in limits for giving loans, guarantees or providing securities under section 186 of Companies Act 2013.
On November 13, 2025, Sky Gold and Diamonds share price opened at ₹356.00 on NSE, above the previous close of ₹353.00. During the day, it surged to ₹372.50 and dipped to ₹336.55. The stock is trading at ₹347.50 as of 1:34 PM. The stock registered a moderate decline of 1.56%.
Over the past week, it has declined by 1.28%, over the past month, it has moved up by 6.91%, and over the past 3 months, it has moved up by 29.42%.
Sky Gold demonstrated exceptional consolidated performance in Q2 and H1 FY26 with PAT surging 82% YoY and revenue growing 93% YoY, powered by the successful acquisition of Speed Bangle Private Limited and Sky Souk Jewellery Trading LLC, adding ₹207.86 crore goodwill, strong festive demand momentum and operational scale-up under Make in Bharat for the World strategy.
Disclaimer: This blog has been written exclusively for educational purposes. The securities or companies mentioned are only examples and not recommendations. This does not constitute a personal recommendation or investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions.
Investments in the securities market are subject to market risks. Read all the related documents carefully before investing.
Published on: Nov 13, 2025, 5:09 PM IST
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