Sky Gold & Diamonds reports record revenue and profit growth in Q2

Sky Gold & Diamonds Limited announced its Q2 FY'26 and H1 FY'26 financial results, reporting record quarterly revenues of INR 1,484 crores, a 93.1% year-on-year increase, and a PAT of INR 67 crore, up 82% year-on-year. For H1 FY'26, consolidated revenue reached INR 2,615 crore, a 75% year-on-year growth, with PAT margins improving by 34 basis points. The company is on track to achieve its target revenue of INR 5,400 crore by FY'26, driven by new client acquisitions and operational efficiencies.

The company's advanced gold model now accounts for 7% of Q2 FY'26 revenue, with studded business doubling to 1.5% of total revenue. Volume increased by 20% to 544 kgs per month. Sky Gold & Diamonds expanded its international footprint with a new B2B sales office in Dubai, UAE, resulting in doubled exports reaching INR 150 crore this quarter.

Strategic initiatives include the acquisition of Speed Bangle Private Limited (formerly Ganna N Gold), which will adopt an advanced gold business model to strengthen working capital and benefit from tax incentives under Section 115BAB. Additionally, a non-binding term sheet was signed to acquire a majority stake in Shri Rishab Gold, a Mumbai-based jewellery firm, aiming to establish India's largest mangalsutra-focused enterprise.