Mumbai-based Sky Gold and Diamonds delivered exceptional financial results for Q1 FY27, with consolidated net profit rising 140.7% to ₹104.9 crore in the June quarter, compared to ₹43.6 crore in the same period last year. According to the latest financial data, total income rose by 77.9% to ₹2,012.8 crore in the April-June quarter from ₹1,132 crore a year earlier. Revenue from operations increased 77.6% to ₹1,440.04 crore from ₹810.80 crore year-on-year, while EBITDA surged 119.6% YoY to ₹156.7 crore from ₹71.4 crore year-on-year, with the EBITDA margin expanding significantly, reflecting improved operating leverage. The company's operations also turned cash-flow positive during the quarter, supported by its asset-light manufacturing model and growing contribution from its advance-gold business.
Shares of Sky Gold and Diamonds soared 13.4% to hit a fresh 52-week high of ₹815.95 on the NSE following the strong Q1 results announcement. The stock has also performed exceptionally well over the past year, with rising FII and mutual fund holdings adding to investor interest. Following the latest rally, the company commands a market capitalisation of around ₹11,141 crore. The strong quarterly numbers indicate continued operating leverage as the company scales its manufacturing and expands its presence across the organised jewellery segment. According to The Hindu BusinessLine, the stock is trading above all 8 key Simple Moving Averages (SMAs), indicating strong underlying momentum and sustained investor confidence.
The company's standalone profit after tax more than doubled to ₹60.58 crore in Q1FY27, compared with ₹32.59 crore in Q1FY26, representing an 86% year-on-year increase. However, consolidated total expenses rose to ₹1,885.94 crore from ₹1,076.70 crore in the year-ago period. Managing Director Mangesh Chauhan emphasized that Q1FY27 was a strong start to the year, with robust growth and sustained margin improvement reflecting disciplined execution and achieving operating efficiency for scale. The company's focus on manufacturing agility and expanding product portfolio continues to position it strategically in the evolving market landscape.
The strong performance was driven by sustained demand from organised jewellery retailers, especially for lightweight, versatile and value-added products, alongside growing traction in lower-carat and diamond-studded categories. Chauhan noted that the company continues to see healthy demand for lightweight, versatile and value-added jewellery, with the company's early focus on ultra-lightweight products and an expanding portfolio across lower-carat and diamond-studded categories having helped it respond quickly to shifting consumer preferences. The company is also expanding into lightweight and fine jewellery, with management stating this strategy should strengthen its product mix and respond to changing consumer preferences. The company continues to see healthy demand for these product categories, reflecting disciplined execution and achieving operating efficiency for scale.
Sky Gold has raised its revenue guidance for FY27 and outlined an ambitious expansion plan through FY30. The company is targeting revenue of more than ₹8,100 crore in FY27, with management focusing on balancing revenue growth, profitability and cash-flow generation. As reported in the regulatory filing, the company continues to see the jewellery industry moving towards organised players and design-led consumption, positioning itself strategically in this evolving market landscape. The company's focus on manufacturing agility and expanding product portfolio is designed to capture demand as the industry consolidates toward organised players in the formal, design-led segment. Founded in 2005 and headquartered in Mumbai, Sky Gold and Diamonds is among India's fastest-growing B2B jewellery manufacturers, specialising in lightweight, design-led and studded jewellery.
