Sky Gold and Diamonds Limited has reported a strong financial performance for FY26, showcasing significant growth across revenue, profitability, and operational efficiency. Backed by increasing partnerships with organised retail players, sustained domestic demand, and strong acceptance of lightweight and value-added jewellery, the company closed FY26 on a high note while strengthening its market position in India’s organised jewellery manufacturing sector.
Quick Summary
- Revenue increased 77.4% YoY to ₹6,294.9 crore in FY26
- EBITDA grew 121.1% YoY to ₹434.3 crore
- PAT surged 112.4% YoY to ₹281.8 crore
- Q4FY26 revenue stood at ₹1,911.5 crore, up 80.6% YoY
- EBITDA margin improved to 6.9% in FY26
- Working capital cycle improved to below 60 days
- Company targets positive CFO of ₹180–225 crore in FY27
- India Ratings upgraded company rating to IND A/Stable / IND A1
- ESOP programme introduced for eligible employees
- Sky Gold 3.0 focuses on asset-light expansion and deleveraging
Strong FY26 Financial Performance
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.
Q4 FY26 and FY26 Financial Highlights
(All figures in ₹ crore unless otherwise stated)
Note Operational PAT / PBT is reported PBT / PAT less non operational income (part of other income in financials).
Management Commentary
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.
Demand Trends and Market Position
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.
Growth Strategy and FY30 Vision
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.
Near Neutral Cash Flow from Operations
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.
About Sky Gold and Diamonds Limited
Established in 2008 and headquartered in Mumbai, Sky Gold and Diamonds Limited is one of India’s fastest-growing B2B jewellery manufacturers, specialising in lightweight, design-led and studded jewellery. With 150+ designers, 1,30,000 sq. ft. of manufacturing space, and a design library of 900,000+ SKU’s, the company serves India’s leading jewellery retailers and is rapidly expanding into global markets.
FAQs
What was Senco Gold’s FY26 revenue?
Senco Gold reported its highest-ever FY26 revenue of Rs 8,430 Cr, registering 33% YoY growth.
How much PAT did Senco Gold report in FY26?
The company reported a Profit After Tax (PAT) of Rs 574 Cr in FY26, marking a 3.6x YoY increase.
What drove Senco Gold’s growth in FY26?
Growth was driven by strong wedding season demand, old gold exchange momentum, lightweight jewellery demand, showroom expansion, and rising diamond sales.
How many showrooms does Senco Gold currently operate?
As of March 2026, Senco Gold operates 201 showrooms across India and Dubai.
How much did diamond volumes grow in FY26?
Diamond volumes grew approximately 9% YoY in FY26.
What is Senco Gold’s expansion plan for FY27?
The company plans to launch around 18-20 new showrooms in FY27.
Source: SVAR Media Network
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