Sky Gold and Diamonds Delivers Robust FY26 Performance; Revenue Rises 77% YoY to ₹6,295 Cr

Sky Gold and Diamonds Limited (BSE: 541967 | NSE: SKYGOLD), listed B2B Gold Jewellery manufacturer, today announced its Q4FY26 and FY'26 results for the quarter and year ended March 31, 2026. The company closed the year on a strong note with continued growth momentum backed by strong retail partnership and sustained domestic demand with designing moat.

Phenomenal Full-Year Growth

For the entire fiscal year 2026, Sky Gold and Diamonds witnessed an impressive surge in its top line. Total revenue reached ₹6,294.9 crore, marking a massive 77.4% year-on-year (YoY) increase compared to the ₹3,548 crore reported in FY25.

The company's profitability grew at an even faster clip, indicating significantly improved operational efficiencies:

EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) jumped 121.1% YoY, landing at ₹434.3 crore up from ₹196.4 crore in the previous year.

EBITDA Margin expanded by 140 basis points, rising from 5.5% in FY25 to a healthier 6.9% in FY26.

Reported Profit Before Tax (PBT) reached ₹379.1 crore, climbing 117.6% from ₹174.2 crore in FY25.

Reported Profit After Tax (PAT) crossed the milestones to finish at ₹281.8 crore, an outstanding 112.4% YoY jump from ₹132.7 crore. The net profit margin (PAT margin) consequently expanded by 80 basis points to finish the year at 4.5%.

On an operational front-which excludes non-operational income-the performance was equally robust. Operational PBT rocketed 142.3% to ₹375.4 crore, while Operational PAT surged 145.2% to ₹278.1 crore, bringing the operational net margin up to 4.4%.

Strong Finish in Q4 FY26

The fourth quarter alone acted as a powerful engine for this yearly performance, showing both sequential and yearly acceleration. Sky Gold recorded a Q4 FY26 revenue of ₹1,911.5 crore, a 80.6% YoY spike against Q4 FY25's ₹1,058.2 crore, and an 8.1% sequential growth over Q3 FY26.

Quarterly operational efficiency peaked in Q4, with EBITDA skyrocketing 123.3% YoY to ₹140.7 crore. This pushed the quarterly EBITDA margin to 7.4%, up 140 basis points YoY and 50 basis points quarter-on-quarter.

This operational leverage flowed directly to the bottom line for the quarter:

Q4 Reported PBT stood at ₹126.2 crore, up 151.4% YoY and 18.9% sequentially.

Q4 Reported PAT hit ₹90.7 crore, translating to a spectacular 137.4% YoY increase and a 12.7% gain over the previous quarter.

Q4 Operational PAT (excluding non-operational income) grew to ₹87.0 crore, representing a 128.3% YoY growth.

Commenting on the result, Mr. Mangesh Chauhan, Managing Director, Sky Gold and Diamonds Limited, said: "Q4 FY26 marks a strong close to what has been a defining year for Sky Gold and Diamonds, with consistent execution across quarters translating into robust growth in revenue and profitability. Our performance continues to be supported by increasing partnerships with organised retail players, strong acceptance of lightweight and value-added jewellery and sustained execution across our manufacturing platform.

Despite elevated gold prices and a dynamic operating environment, underlying demand trends remain resilient, supported by changing consumer preferences and the continued relevance of gold as both an aspirational and long-term value asset. Our early focus on the organised shift in jewellery manufacturing and retail, along with our positioning in lightweight jewellery, continues to strengthen our market standing.

As we move into the next phase of growth, we remain focused on improving cash flows, reducing debt and pursuing growth through operational efficiency and prudent capital allocation. We remain confident of sustaining healthy growth momentum while progressing toward our FY30 profitability aspirations, of ₹945 crore. With strong customer relationships and continued focus on creativity, technology and manufacturing excellence, we remain confident about the long-term opportunity ahead."

Operational Performance & Growth Drivers

Sky Gold and Diamonds continues to strengthen its leadership within the organised jewellery manufacturing sector through disciplined execution, differentiated product positioning and a sharp focus on capital efficiency. Having successfully expanded its manufacturing and client ecosystem over the last few years, the company is now entering its next phase of growth centred on stronger cash generation, accelerated deleveraging and a self-sustaining financial model.

Key highlights for Q4 FY26 include:

- Near neutral Cash Flow from Operations (CFO): In line with its stated commitment, the Company significantly improved Cash Flow from Operations to negative ₹45 crore in FY26 from negative ₹272 crore in FY25 and targets positive CFO of ~₹180-225 crore in FY27, supported by stronger operating efficiencies and disciplined working capital management.

- Strategic shift under Sky Gold 3.0: Transitioned to an asset-light leased manufacturing expansion model leading to land monetisation, with operational cash generation expected to support 50%+ reduction in net borrowings by next year-end.

- Working Capital Optimisation: Achieved significant improvement in Working Capital Cycle to <60 days driven by a higher share of advance gold business, export operations and better control on customer terms.

- Other Income: Stood at ₹16.6 crore for the quarter, of which ₹3.7 crore was attributable to gain on sale of investments and balance are all operational income. Operational PAT for the quarter & for financial year FY26 stood at 4.6% and 4.4% respectively.

- Credit Rating Upgrade: India Ratings upgraded Sky Gold's credit rating to IND A/Stable / IND A1, supported by improving profitability, liquidity and through strong execution capabilities

- Strengthened Governance Framework: Appointed M S K A & Associates LLP (BDO International member firm) as Statutory Auditors reflecting commitment to adopting global best practices and strong focus on corporate governance

- Employee Ownership Initiative: Introduced an ESOP programme for eligible employees, strengthening employee ownership, motivation and long-term value creation becoming one of the first companies in the industry to implement it.

Shares of Sky Gold Ltd was last trading in BSE at Rs. 486.25 as compared to the previous close of Rs. 480.40. The total number of shares traded during the day was 124844 in over 4332 trades.

The stock hit an intraday high of Rs. 495.05 and intraday low of 459.35. The net turnover during the day was Rs. 59595884.00.

Source : Equity Bulls

Keywords

SkyGoldandDiamonds INE01IU01018 Q4FY26 Q4FY2026 FY26 FY2026 ResultUpdate