SKY GOLD AND DIAMONDS LIMITED has informed the Exchange about Investor Presentation
To, BSE Limited Phiroze Jeejeebhoy Towers, Dalal Street, Fort, Mumbai 400001
Date: 13th November 2025
To, National Stock Exchange of India Limited Exchange Plaza, Plot No. C/1, G Block, (East), Bandra-Kurla Complex, Bandra Mumbai 400051
Scrip Code: 541967
Trading Symbol: SKYGOLD
Subject: Disclosure under Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 - Presentation on the Unaudited Financial Results.
Dear Sir/Madam,
Please find enclosed herewith the Investor/ Analysts presentation on Unaudited Financial Results for the quarter and half year ended September 30, 2025.
This presentation is being submitted in compliance with Regulation 30(6) of the SEBI (Listing Obligations and Disclosure Requirements), Regulations, 2015.
The same is also being made available on the Company’s website at www.skygold.co.in
This is for your information and records.
Thank you.
Yours faithfully,
For Sky Gold and Diamonds Limited, (formerly known as Sky Gold Limited)
Mangesh Chauhan Managing Director DIN: 02138048 Place: Navi Mumbai Encl.: As above.
Investor Presentation – Q2 & H1FY26
Safe Harbor Statement
This presentation and the accompanying slides (the “Presentation”), which have been prepared by Sky Gold and Diamonds Limited (the “Company”), have been prepared solely for information purposes and do not constitute any offer, recommendation or invitation to purchase or subscribe for any securities, and shall not form the basis or be relied on in connection with any contract or binding commitment what so ever. No offering of securities of the Company will be made except by means of a statutory offering document containing detailed information about the Company.
This Presentation has been prepared by the Company based on information and data which the Company considers reliable, but the Company makes no representation or warranty, express or implied, whatsoever, and no reliance shall be placed on, the truth, accuracy, completeness, fairness and reasonableness of the contents of this Presentation. This Presentation may not be all inclusive and may not contain all of the information that you may consider material. Any liability in respect of the contents of, or any omission from, this Presentation is expressly excluded.
Certain matters discussed in this Presentation may contain statements regarding the Company’s market opportunity and business prospects that are individually and collectively forward-looking statements. Such forward-looking statements are not guarantees of future performance and are subject to known and unknown risks, uncertainties and assumptions that are difficult to predict. These risks and uncertainties include, but are not limited to, the performance of the Indian economy and of the economies of various international markets, the performance of the industry in India and world-wide, competition, the company’s ability to successfully implement its strategy, the Company’s future levels of growth and expansion, technological implementation, changes and advancements, changes in revenue, income or cash flows, the Company’s market preferences and its exposure to market risks, as well as other risks. The Company’s actual results, levels of activity, performance or achievements could differ materially and adversely from results expressed in or implied by this Presentation. The Company assumes no obligation to update any forward-looking information contained in this Presentation. Any forward-looking statements and projections made by third parties included in this Presentation are not adopted by the Company and the Company is not responsible for such third party statements and projections.
2
Index
01
Q2 & H1FY26 Financial Snapshot
02
Key Updates
03
Drivers of Growth
04
Company Overview
04
Financial Delivery
3
Q2 & H1FY26 Financials
Q2 FY26 Performance Highlights (Y-o-Y)
Q2 FY26
Revenues INR 1,484.5 Crs +93.1%
Y-o-Y
Revenue Split
10%
Q2 FY26
EBITDA INR 99.9 Crs +157.5%
Y-o-Y
Q2 FY26
PAT INR 67.0 Crs +82.6%
Y-o-Y
Volume Nos. (Kg/Month)
447
460
456
544
345
90%
Export
Domestic
* Consolidated Results
Q2 FY25 Q3 FY25 Q4 FY25 Q1 FY26 Q2 FY26
5
Q2 & H1FY26 Performance Scorecard
Q2 FY26
H1FY26
₹ 1,484.5 Crore Revenue from Operations +93.1% Y-o-Y
₹ 2,615.7 Crore Revenue from Operations +75.3% Y-o-Y
₹ 121.3 Crore Gross Profit +142.8% Y-o-Y
₹ 99.9 Crore EBITDA + 157.5 % Y-o-Y
₹ 67.0 Crore PAT +82.6% Y-o-Y
₹ 211.6 Crore Gross Profit +120.6% Y-o-Y
₹ 171.3 Crore EBITDA +125.2% Y-o-Y
₹ 110.6 Crore PAT +90.9% Y-o-Y
The company grew Q2FY26 revenues by 93.1% Y-o- Y, EBITDA by 157.6% Y-o-Y and PAT by 82.6% Y-o-Y
Sky Gold & Diamonds is outperforming organized competitors with a growth rate three times higher. Our significantly more frugal cost structure (50% leaner) allows us to operate with much lower gross margins. superior understanding of micro-markets, this has driven market share gains. We are confident that a fourfold expansion will help us become a dominant player globally
Combined
with
our
PAT margin stood at 3.7% in FY25, and we are targeting an increase to 4.25%–4.5% by FY27
* Consolidated Results
6
Q2 & H1FY26 Performance Highlights
Revenue from Operations
Gross Profit & Gross Margin %
(All Figures In Rs Cr)
2,615.7
211.6
6.5%
8.2%
6.4%
8.1%
1,484.5
1,491.9
768.8
121.3
95.9
50.0
Q2FY25
Q2FY26
H1FY25
H1FY26
Q2FY25
Q2FY26
H1FY25
H1FY26
EBITDA & EBITDA Margin %
PAT & PAT Margin %
5.1%
6.7%
5.1%
6.5%
4.8%
4.5%
3.9%
4.2
171.3
110.6
99.9
76.0
38.8
67.0
57.9
36.7
Q2FY25
Q2FY26
H1FY25
H1FY26
Q2FY25
Q2FY26
H1FY25
H1FY26
7
Q2 & H1FY26 Consolidated Profit & Loss Statement
Profit & Loss Statement (Rs. Crs.)
Q2 FY26
Q2 FY25
Revenue from Operations
Cost of Materials Consumed
Purchase of Stock in Trade
Changes in Inventories of FG & WIP
Gross Profit
GP %
Employee Benefits Expense
Other Expenses
EBITDA
EBITDA %
Other Income
Depreciation and Amortisation Expense
EBIT
Finance Costs
PBT
Total Tax Expense
Profit for the period
PAT %
1484.5
1200.7
16.6
145.9
121.3
8.2%
13.1
8.3
99.9
6.7%
8.0
2.4
105.5
17.6
87.9
20.9
67.0
4.5%
768.8
723.6
0.0
-4.7
50.0
6.5%
6.2
5.0
38.8
5.1%
19.7
2.2
56.3
10.1
46.2
9.5
36.7
4.8%
Y-o-Y
93.1%
142.8%
167 bps
157.5%
163 bps
87.3%
90.3%
82.6%
-26 bps
Q1 FY26
1,131.2
1,182.7
0.0
-141.7
90.3
8.0%
12.0
6.9
71.4
6.3%
4.3
3.6
72.1
13.3
58.9
15.3
43.6
3.9%
Q-o-Q
31.2%
H1FY26
H1FY25
2615.7
1,491.9
Y-o-Y
75.3%
2383.3
1,407.4
16.6
4.2
211.6
8.1%
25.1
15.2
171.3
6.5%
12.3
6.0
177.6
30.8
146.8
36.2
110.6
4.2%
0.0
-11.4
95.9
6.4%
10.9
8.9
76.0
5.1%
21.0
4.3
92.8
18.1
74.6
16.7
57.9
3.9%
34.4%
19 bps
39.9%
43 bps
46.2%
49.3%
53.7%
66 bps
120.6%
166 bps
125.2%
145 bps
91.5%
96.6%
90.9%
34 bps
8 8
Consolidated Balance Sheet
ASSETS (Rs. Crs.) ASSETS Non ‐ Current Assets Property, plant and equipment Capital work‐in‐progress Right of Use Assets Investment Property Goodwill Other Intangible Assets
Investments
Financial Assets (i) (ii) Other Financial Assets Other non‐current assets Total Non ‐ Current Assets Current Assets Inventories Financial Assets (i) Investments (ii) Trade receivables (iii) Cash and cash equivalents (iv) Bank Balance other above (v) Loans Other current financial assets Current Tax Assets (Net) Other current assets Total Current Assets TOTAL ASSETS
30-Sept-25
31-Mar-25
53.4
110.3
21.0
2.4
250.2
0.8
78.0
2.7
12.8
531.7
446.3
0.0
636.8
11.6
217.3
1.1
49.6
0.0
46.7
1,409.4
1,941.1
36.4
0.6
23.7
2.4
42.3
0.7
77.0
31.6
91.0
305.7
396.9
0.0
452.2
10.9
164.2
0.9
2.5
0.0
23.5
1051.1
1356.8
Borrowings
EQUITY AND LIABILITIES (Rs. Crs.) Equity (a) Equity share capital (b) Other equity Equity attributable to equity holders Non‐controlling interests Total Equity Liabilities Non ‐ Current Liabilities Financial liabilities (i) (ii) Lease liabilities (iii) Other Financial Liabilities Provisions Deferred Tax Liabilities (Net) Total Non ‐ Current Liabilities Current Liabilities Financial liabilities (i) (ii) Lease liabilities (iii) Trade payables (a) Total outstanding dues of MSME (b) Total outstanding dues other than MSME (iv) Other financial liabilities Other current liabilities Provisions Current tax liabilities (Net) Total Current Liabilities TOTAL EQUITY AND LIABILITIES
Borrowings
30-Sept-25
31-Mar-25
154.9
881.8
1,036.6
1,036.6
42.6
16.9
0.0
1.9
3.7
65.1
748.9
5.4
0.0
13.4
49.6
3.7
6.4
2.2
9.8
839.4
1,941.1
146.7
537.1
683.8
683.8
16.4
20.1
0.0
1.6
0.7
38.8
588.5
5.4
0.0
21.2
4.8
1.4
1.1
1.0
11.0
634.2
1,356.8
9 99
Consolidated Cash Flow Statement
Cash Flow Statement (Rs. Crs.)
Cash Flow from Operating Activities
Profit before Tax
Adjustment for Non-Operating Items
Operating Profit before Working Capital Changes
Changes in Working Capital
Cash Generated from Operations
Less: Direct Taxes paid
Net Cash from Operating Activities
Cash Flow used in Investing Activities
Cash Flow (used in)/ from Financing Activities
Net increase/ (decrease) in Cash & Cash equivalents
Cash and cash equivalents at beginning of the period
Cash and cash equivalents at the end of the period
Sept-25
146.8
29.5
176.3
-242.7
-66.5
34.4
-100.9
-75.0
179.5
3.6
8.2
-0.2
11.6
Sept-24
74.6
1.6
76.2
-129.4
-53.2
8.6
-61.8
-39.7
93.4
-8.0
14.0
0.0
6.0
1010
Key Updates
Q2 & H1FY26 Company Updates
Collaborated with SENCO Gold and Diamonds to Launch 9kt Gold Jewellery
Opening of Dubai office for facilitating export sales
•
Senco Gold & Diamonds, an esteemed existing customer of Sky Gold & Diamonds, has now collaborated with the company to sale 9kt gold jewellery collections through its retail stores
• Collaboration enables both brands to expand market reach and connect with value-conscious & style-driven Gen Z consumer segment
•
Sky Gold & Diamonds have incorporated a new B2B office, Sky Souk Jewellery Trading LLC in Dubai (UAE) to strengthen its presence in the Middle East
• The company has identified the region as a strategic growth market and have opened up a sales office, owing to the strong demand for high-quality jewellery in the Middle East particularly in Dubai (UAE)
Focus on Gold Metal Loan
•
Secured Gold Metal Loan (GML) limits with 3 existing private banks, reinitiated the GML program in current quarter
• GMLs provide
lower substituting high-cost working capital facilities
financing
cost
thereby
• GMLs provide gold manufacturers with raw material upfront, improving cash flow and production cycles
Appointment of Mr. Virupakshi Kolla as Independent Director
•
•
•
Mr Virupakshi Kolla headed the Gems & Jewellery sector for Kotak Mahindra Bank
Mr. Kolla brings with him 36+ years of extensive banking expertise across corporate finance, client relationship management, credit appraisals, risk management and compliances, etc
During his tenure with Kotak Mahindra Bank (post merger of ING Vyasa into Kotak Mahindra Bank), he successfully led new client acquisitions.
Completion of Speed Bangle Acquisition
The strategic acquisition of Speed Bangle Pvt. Ltd. (erstwhile Ganna N Gold) provides an entry into the specialized and technically demanding lightweight (Italian) bangles segment
The business model will be 100% advance gold model, reducing the working capital cycle with a five-year non-compete from existing promoters
Further, the company enjoys tax incentives under section 115BAB leading to better PAT margin
Appointment of Mr. Siddharth Sipani as CFO
Siddharth Sipani has nearly 20+ years of experience in Finance & Accounts, compliance, treasury, and strategic business management
Siddharth is an ex-Big 4 and prior to joining the Company he served as Group CFO with a jewellery exporter
•
•
•
•
•
• Mr. Sipani has led initiatives in financial planning, liquidity management, automation, fund-raising and cost optimization
12
Sky Gold Vision: Driving next leg of growth
Sky Gold & Diamonds Vision
Revenues ~ Rs. 7,600 Crs by FY27
Capacity Utilization ~ 900 kgs per month by FY27
PAT Margin 4.25-4.5% by FY27
ROCE >25%
Key Initiatives in this Direction
Corporate Action
Total Capital infusion of INR 128 Crores (108 Crs +20 Crs)
To support Increased Working Capital Requirement
Higher Liquidity available for Higher Growth
Strengthening of Management Team
Bonus Issue of 1:9
Successful capital raise of INR 270 crores with participation from marquee DIIs
Rating Upgrade
• •
India Ratings Assigns Sky Gold’s Bank Loans ‘IND A- /Stable Fund-based working capital limit & Proposed fund-based working capital limit have been assigned IND A- /Stable/IND A2+
13
2x Revenue Growth Achieved – Gearing Up to Repeat
Gross Margin Expansion
Gross margin improved from 3% in FY20 to 7%+ currently, driven by scale, design premiums, and lower gold loss. Further expansion expected through diamond sales and advanced gold
Working Capital Optimization Strategy
Eliminating Receivables and Inventory by using advanced gold contracts with customer-supplied gold
ERP System Upgradation
A modern ERP system will allow to enhance monitoring of productivity, gold loss, inventory, and receivables
Favorable Industry Shift
The ongoing transition toward organized jewellery retail is a structural tailwind, creating growth opportunities for Skygold, which currently holds <0.5% market share
Scalable, Asset-Light Business Model
Strong belief in the scalability of B2B design- led manufacturing, especially when compared to the capital- intensive B2C jewellery retail model
Sales Team Alignment
Sales team KPIs are now closely tied to the adoption of advanced gold contracts and receivable collections
Capacity Expansion
Proposed scale- up to 4.5 tons capacity is our strategic priority, with strong execution critical to customer confidence and long- term partnerships
Targeting Working Capital Reduction Aiming to gradually bring down working capital intensity to 55–57 days by FY27, driving improved operational cash flow
14
Drivers of Growth
Charting the Course – Core Pillars for Progress
Delivering on Growth Guidance
Achieving Growth Through Strategic Focus on Key Pillars
Revenues (in Crs.)
+57%
7,600
5,400
+352%
3,548
1,746
1,154
786
FY22 A
FY23 A
FY24 A
FY25 A
FY26 P
FY27 P
*Revenue Projection on consolidated level
Expanding Product Portfolio
Successful Acquisitions
Geographic Expansion
Operational Efficiency
Strong hold in existing 22 carat category
Expanding into other emerging categories like 18 carat/diamond/ studded lightweight jewellery
Increased focus on value added studded jewelry segment
Increased TAM- Added Chains, Mangalsutra & Bangles segment
Penetrating key international markets (opening an office in Dubai)
Increasing domestic reach with multiple regional offices
Increase in GML loans to reduce interest cost & help to improve EPS, ROCE & ROE
16
Shining Bright: The Future of India’s Jewellery Industry
Indian Domestic Jewellery Market Size – by Value (USD billion)
60
48
+8%
43
70
57
145
+16%
84
2018
2020
2021
2022
2023
2024
2028P
• By FY 2028, the Indian jewellery retail market is set to touch USD 145 billion, driven by macroeconomic tailwinds and a rise in disposable incomes.
• A strong cultural affinity for gold, along with growing traction in alternative categories like gemstone and fashion jewellery, is accelerating consumer demand and market diversification.
Breakup of Jewellery Market by Usage – By Value
10%
11%
35%
55%
32%
57%
FY2024
FY2028P
Bridal Wear
Daily Wear
Fashion
Source: Technopak Analysis
• Manufacturers are strategically focusing on producing lightweight pieces to cater to the preferences of younger consumers, particularly those seeking daily wear gold jewellery that complements western-style attire.
• With over 65% of India's population under 35 and more than 308 million women aged 20–49, this demographic demands jewellery that emphasizes quality, authenticity, and purity—creating a significant opportunity for premium yet accessible offerings.
17
Glittering Prospects: Exploring Investment in India’s Jewellery Market
The market size of the organized sector is projected to grow from USD 19.2 billion in FY 2020 to USD 82.65 billion by FY 2028, reflecting a CAGR of 20%
Organised Segment To Continue Gaining Market Share In The Retail Jewellery Market
Indian jewellery consumers are becoming increasingly discerning and brand conscious by seeking assurance of the final product's quality and transparency in their jewellery purchases which can only be provided by organized retailers
Organized jewellery retailing today represents a wide range of ready-made ornaments, offering various designs and options
National and regional jewellery retailers, with their bigger scale, can tailor designs to regional preferences and global trends
10.0%
90.0%
33.0%
37.0%
38.0%
67.0%
63.0%
62.0%
43.0%
57.0%
Large organized manufacturers size enables them to undertake frequent launches of new collections and brands, offering customers a wide variety of options
FY21
FY22
FY23
FY24
FY28P
Organized
Uroganized
Some Of The Fine-Tuned Strategies Adopted By Industry Players
Transparency in pricing
Benchmarked Making Charges
Competitive Gold Rates
Regionalized Store Inventory
100% Exchange Value Assurance
Cutting-edge technology
Source: Technopak Analysis
18
Company Overview
SKY Gold & Diamonds : Make in Bharat for the World
Leading the way in manufacturing of Casting Gold Jewellery since 2008
Established in 2008, Sky Gold has been a trailblazer in the realm of casting jewellery.
Founded by three visionary founders:
Mangesh Chauhan Mahendra Chauhan Darshan Chauhan
Sky Gold & Diamonds have evolved into a symbol of excellence in light weight design & quality
20
Crafted For Tomorrow : Sustainable, Stunning and Smart
20 Years of Experience
1150 (including 110+ designers) Employees
Manufacturing Facility 1,30,000 sqft
Manufacturing Capacity 14.4 tonne per year
Available with reputed Indian & international corporates & distributors
Available in 2,000 retail outlets across India & 500+ outlets globally
Extensive Industry Experience
Customizable Designs
Skilled and Talented Craftsmen
Fair Price and Trade Policy
Some of Our Distinctive Features are as follows:
of
years
With dedicated service, Sky Gold & Diamonds brings a wealth of experience to jewellery art of the manufacturing
touch
We take pride in offering a to our personalized jewellery, ensuring that each piece reflects the unique style our and customers
preferences
of
Behind every masterpiece is a team of skilled and talented craftsmen, to precision and artistry
dedicated
At Sky Gold & Diamonds, transparency and fairness are integral to our trade policy, ensuring that our customers receive quality jewellery at honest prices
At Sky Gold & Diamonds, we go beyond being manufacturers; we are creators of timeless pieces, and our commitment to excellence resonates in every facet of our craftsmanship.
Throughout the journey, Sky Gold & Diamonds has consistently demonstrated resilience, evolution, and a commitment to excellence, making it a prominent and respected name in the industry.
21
Key Milestones
2005 - 2008
2018
2023
2024
2025
•
Incubated as a SkyGold Started as a Partnership firm, laying the foundation of its remarkable journey in jewellery industry transformed into a Pvt Ltd in 2008
• Marking a significant step towards growth and expansion
• Achievement of listing
• Made it to the Main Boards of
• Acquisition of Star
on the BSE SME reflecting transparency & scale of operations
• Crossed Turnover of ₹
500 Cr
NSE & BSE
• New 81,000 Sq Ft Manufacturing
Facility
• Fund raise from UHNI &
warrants issuance to promoters (₹128Cr)
Mangalsutra & Sparkling Chains
• Successful completion of
QIP worth ₹ 270 Cr
• Bonus issue of 9:1
• Purchase of 10,500 sq. mtr industrial land for future business growth in Navi Mumbai with planned capacity of 4.5 tons/ month
• Acquisition of Speed Bangle Pvt. Ltd. (erst while Ganna n Gold) entry into new segment of light weight Bangles.
22
Management Team
Mr. Mangesh Chauhan
With over two decades of experience, Mangesh Chauhan has transformed Sky Gold & Diamonds Ltd. into a leading force in lightweight gold and diamond jewellery. Starting in Mumbai’s Zaveri Bazar, he pioneered India’s first organised B2B jewellery manufacturing model and steered the company from inception to NSE main-board listing with a market cap exceeding ₹5,000 crore. His blend of strategic vision, financial discipline, and operational innovation has built long-term investor confidence and sustainable growth. Guided by “Make in Bharat for the World,” he continues to expand Sky Gold’s global footprint while upholding quality, integrity, and innovation.
Mr. Mahendra Chauhan
Mahendra Chauhan spearheads production, design, and R&D at Sky Gold, ensuring precision, innovation, and quality across every process. His technical mastery in plant and machinery has elevated operational efficiency and enabled scalable, cost-effective manufacturing. Under his leadership, the company has introduced advanced automation and modernized design capabilities, delivering high-quality, trend-responsive jewellery at competitive costs. His relentless pursuit of innovation, attention to detail, and commitment to excellence continue to strengthen Sky Gold’s reputation as a benchmark in manufacturing sophistication and craftsmanship.
Mr. Darshan Chauhan
Darshan Chauhan has been instrumental in redefining the lightweight gold and diamond jewellery segment. He leads design innovation, exports, and brand partnerships with industry giants such as Malabar Gold, Joyallukas, Caratlane, Kalyan Jewellers, Senco, CaratLane and many more. Under his guidance, Sky Gold has grown its Exports business with presence across UAE, Malaysia and Singapore. His focus on agile manufacturing, consumer-driven design, and sustainable practices has positioned Sky Gold as a global symbol of accessible luxury and modern craftsmanship.
23
Crafting Exclusively
What sets Sky Gold & Diamonds apart in our the of monopoly collection embodiment of exclusivity and creativity.
designs
is
Our exclusive creations stand as a testament to the unparalleled ingenuity and innovation of our dedicated design team. With a commitment to meeting the diverse tastes of consumers and covering a broad spectrum of jewellery types, Sky Gold & Diamonds takes pride in presenting a portfolio that extends across 18 distinctive sub- brands. Each piece in our collection is meticulously crafted to encapsulate a unique blend of sophistication and trendsetting style, ensuring that our clients experience a level of exclusiveness that is unmatched in the realm of jewellery design. At Sky Gold & Diamonds, we transcend the ordinary, offering a curated selection that resonates with individuality and sets a new standard for elegance in the jewellery world.
24
Competitive Advantages
Lead Time
Scale of Operation
Our R & D Approach
From design to finished product in 7-20 days.
Tech-focused Manufacture
Using latest technology like 3D printing machines from Germany, Italy & The United States.
Leading single – location manufacturer in India.
y
Vast Design Collection
Offering 9 lac plus unique design in our catalog.
Analyze global fashion trends, innovate, design in India.
y
Experience
Total promoters experience of more than 50 years.
25
Strategic Directions
Bolster our Inventory Management practices for enhanced efficiency on a global scale.
Harness the power of technology for expansion, embracing international strategic directions.
Deepen & fortify our current customer connections while extending our reach into new geographical markets.
Strategic Directions
Amplify our production capabilities & enrich our product portfolio, both domestically & internationally.
Persist in substantial investments in marketing & brand-building endeavors, with a focus on global visibility..
26
Design Process
Empathise
Ideate
Design
Prototype
Global Consumer Research
Sales Analysis & Feedback
Trend Study & Forecast
01
Design
Hand Sketch
Inspiration
Element Detailing
Form Generation
Technical Drawing
02
03
CAD
CAM
04
I
G N R U T C A F U N A M
27
Manufacturing Process
3D printing & Master a Mould
Filling & Laser Solder
Wax Wax Mould Setting
Central Q.A. & Weighing
Polishing
POP Flask
Glod Tree Plucking
Final QC & Packing
Casting by Heating
PoP cavity & PoP Removal
Dispatch
28
Quality Control Process
Stage 1
Stage 2
Stage 2
Raw Material Testing
Production Process Examination
Final Inspection and Packaging
XRF
Fire Assay
Cleanliness Aspects
Aesthetic Aspects
Functional Aspects
Design Observation
Concept Observation
Element Quality Inspection
• Gold Purity
•
Shape Uniformity
• No Sharp Edges
•
Cubic Zirconia Quality
• No Design Mismatch
• No Strength Issue
• Gemstone Quality
• No Defect or Damage
•
•
Pearl Quality
Stone Quality
• No Polish Discoloration
• No Excess Solder
• No Improper Enamel
• No Gemstone Colour
Mismatch
• No Broken Cubic Zirconia
•
•
•
•
•
•
•
Proper Fit and Fall
Proper Flexibility
Proper Findings
Proper Earring Patch
Smooth Bangle Screw
Proper Locking of Kada
Proper Sizing of Rings
•
•
Purity testing
Cubic Zirconia
testing
• Durability check
• Hallmarking
•
Safety
• Wrapping
•
Packing
29
Sky Sub-Brands
Rangi
Marisa
Saathiya
Sovana
Misha
Shaan
Tazim
Zenna
Kimora
Shai
Rose
Atiriya
Aasma
Sky9 Diamonds
Morni
30
Clients- Strong Relationships Fuelling Growth
s t n e
i l
C c i t s e m o D
s t n e
i l
C
l
a n o i t a n r e t n
I
31
Participation in Prestigious Shows
32
Glimpse of our Navi Mumbai Facility
33
Win-Win Proposition
How our Client Benefits
End Customer Knowledge
Exclusive Customized Design Catalogue
Consistency and Quality Products
Assured Lifetime Maintenance
Increased responsiveness to End Customer Needs
Outsourced Manufacturing = Higher ROCE
Stickiness of Business
How Sky Gold Benefits
Increased Revenue & Growth Visibility
Higher Volumes leading to Operating Leverage
Higher assurity of Receivables with Larger Clients
Monitoring & Quality Control at every stage
Deployment of Latest Technology and Skilled Artisans
Win-win proposition assures Stickiness of Clients
34
Financial Delivery
Historical Profit & Loss Statement
Profit & Loss Statement (Rs. Crs.)
Revenue from Operations
Cost of Materials Consumed
Changes in Inventories of FG & WIP
Gross Profit
GP %
Employee Benefits Expense
Other Expenses
EBITDA
EBITDA %
Other Income
Depreciation and Amortisation Expense
EBIT
Finance Costs
PBT
Total Tax Expense
Profit for the period
PAT %
31-Mar-25
3548.0
3393.2
-96.1
250.9
7.1%
29.4
25.2
196.4
5.5%
33.0
10.7
218.6
44.4
174.2
41.6
132.7
3.7%
31-Mar-24
1,745.5
1,821.7
-180.9
104.7
6.0%
13.5
13.9
77.2
4.4%
3.7
6.4
74.6
20.5
54.1
13.6
40.5
2.3%
31-Mar-23
1,153.8
1,114.9
-10.9
49.8
4.3%
5.4
8.0
36.3
3.1%
1.0
1.4
35.8
10.8
25.0
6.4
18.6
1.6%
36
Historical Balance Sheet
ASSETS (Rs. Crs.)
ASSETS
Non ‐ Current Assets
Property, plant and equipment
Capital work‐in‐progress
Right of Use Assets
Investment Property
Goodwill
Other Intangible Assets
Financial Assets
(i)
Investments
(ii) Other Financial Assets
Other non‐current assets
Total Non ‐ Current Assets
Current Assets
Inventories
Financial Assets
(i)
Investments
(ii) Trade receivables
(iii) Cash and cash equivalents
(iv) Bank Balance other above
(v) Loans
Other current financial assets
Current Tax Assets (Net)
Other current assets
Total Current Assets
TOTAL ASSETS
31-Mar-25
31-Mar-24
31-Mar-23
36.4
0.6
23.7
2.4
42.3
0.7
77.0
31.6
91.0
305.7
396.9
0.0
452.2
10.9
164.2
0.9
2.5
0.0
23.5
1,051.1
1,356.8
24.7
1.0
10.2
0.0
0.0
0.1
90.6
1.1
1.5
129.1
266.1
0.0
102.1
13.4
63.4
0.1
0.4
0.0
11.0
456.5
585.6
6.2
0.1
0.5
2.5
0.0
0.1
68.3
0.8
0.3
78.5
85.2
0.0
67.0
18.4
0.0
0.2
0.3
0.0
2.5
173.6
252.2
Borrowings
EQUITY AND LIABILITIES (Rs. Crs.) Equity (a) Equity share capital (b) Other equity Equity attributable to equity holders Non‐controlling interests Total Equity Liabilities Non ‐ Current Liabilities Financial liabilities (i) (ii) Lease liabilities (iii) Other Financial Liabilities Provisions Deferred Tax Liabilities (Net) Total Non ‐ Current Liabilities Current Liabilities Financial liabilities (i) (ii) Lease liabilities (iii) Trade payables (a) total outstanding dues of MSME (b) total outstanding dues other than MSME (iv) Other financial liabilities Other current liabilities Provisions Current tax liabilities (Net) Total Current Liabilities TOTAL EQUITY AND LIABILITIES
Borrowings
31-Mar-25
31-Mar-24
31-Mar-23
146.7 537.1 683.8
683.8
16.4 20.1 0.0
1.6 0.7 38.8
588.5 5.4
21.2 4.8 1.4 1.1 1.0 11.0 634.2 1,356.8
13.2 230.9 244.1
244.1
17.6 9.1 0.0 1.0 2.4 30.1
281.1 2.2
1.3 3.1 21.1 0.8 0.4 1.4 311.4 585.6
10.7 87.4 98.1
98.1
14.8 0.0 0.0 0.8 3.5 19.1
131.1 0.5
1.4 0.1 0.4 0.1 0.3 1.0 134.9 252.2
37
Historical Cash Flow Statement
Cash Flow Statement (Rs. Crs.)
Cash Flow from Operating Activities
Profit before Tax
Adjustment for Non-Operating Items
Operating Profit before Working Capital Changes
Changes in Working Capital
Cash Generated from Operations
Less: Direct Taxes paid
Net Cash from Operating Activities
Cash Flow used in Investing Activities
Cash Flow (used in)/ from Financing Activities
Net increase/ (decrease) in Cash & Cash equivalents
Cash and cash equivalents at beginning of the year
Cash and cash equivalents at the end of the year
Mar-25
Mar-24
Mar-23
174.2
23.6
197.8
-434.6
-236.9
-36.3
-273.2
-156.9
427.0
-3.1
14.0
10.9
54.1
23.1
77.2
-200.7
-123.5
-13.7
-137.2
-107.0
239.2
-5.0
18.4
13.4
25.0
10.9
36.0
-35.3
0.7
-7.1
-6.5
-19.8
43.2
17.0
1.4
18.4
38
Key Financial Highlights
Revenue from Operations
EBITDA
Net Profit
5 Year CAGR : 45.3%
5 Year CAGR : 107.7%
5 Year CAGR : 129.2%
3,548
196
133
1,745
1,154
796
786
77
37
20
11
41
17
19
5
FY21
FY22
FY23
FY24
FY25
FY21
FY22
FY23
FY24
FY25
FY21
FY22
FY23
FY24
FY25
39
Performance Highlights
Current Ratio
Return Ratios
1.6
1.3
1.5
1.7
FY22
FY23
FY24
FY25
31%
22%
32%
19%
27%
17%
* 30%
ROCE
21%
ROE
Improving Leverage Ratios
3.7
1.2
3.3
1.5
3.6
1.3
4.9
0.9
FY22
FY23
FY24
FY25
Interest Coverage
Debt To Equity*
FY22
FY23
FY24
FY25
Higher Return Ratios as a result of better managed Operational & Disciplined Capital Allocation
*Based on Net debt(Gross Debt- FDR- pledged share investments) | *Equity is net of Goodwill
*Net Worth (net of Goodwill) stands at Rs.642.0 crores for FY25 (Rs.244.1 crores previous year)
40
Corporate Office: Office No.11, 1st Floor, 307/309, Rajesh Rayon Bhawan, Kalbadevi Road, Mumbai – 400 002. I-Com: 2100 | T: +91 22 2241 3636/ 2241 6363 | E: skygoldltdmumbai@gmail.com
skygoldltdmumbai@gmail.com
Factory: Plot No. D-222/2 TTC Industrial Area, MIDC Shiravane, Navi Mumbai – 400 706. T: +91 22 6691 9399 | E: skygoldltdmumbai@gmail.com www.skygold.co.in
MUFG Intime India Private Limited A part of MUFG Corporate Markets, a division of MUFG Pension & Market Services
parth.patel@in.mpms.mufg.com/
Name: Parth Patel / Vidhi Vasa Email: parth.patel@in.mpms.mufg.com/ vidhi.vasa@in.mpms.mufg.com Website: www.mpms.mufg.com
vidhi.vasa@in.mpms.mufg.com
www.mpms.mufg.com
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