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Swing Capital

Sky Gold & Diamonds Ltd

NSE: SKYGOLD BSE: 541967Retail

Sky Gold Limited is engaged in the business of designing, manufacturing, and marketing gold jewellery. The co. follows a B2B model where the products are mainly sold to mid-range jewellers and boutique stores who sell these products through online platforms and retail stores. [1] [2] [3]

₹438
52W: ₹246 — ₹550
PE 38.8 · Book ₹64.3 · +581% vs book
Market Cap₹6,786 Cr
Stock P/E38.8Price to Earnings
ROCE19.4%Return on Capital
ROE21.8%Return on Equity
Div. Yield0%Face Value ₹10

Strengths

  • +Company is expected to give good quarter
  • +Company has delivered good profit growth of 76.3% CAGR over last 5 years

Weaknesses

  • −Debtor days have increased from 27.4 to 39.8 days.
  • −Promoter holding has decreased over last 3 years: -21.8%

Shareholding Pattern

Promoters51.74%
FIIs1.2%
DIIs13.14%
Public33.91%
CategoryJun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Promoters61.32%62.51%▲1.258.24%▼4.358.18%▼0.153.86%▼4.351.74%▼2.151.74%51.74%
FIIs0.08%0.25%▲0.20.86%▲0.60.39%▼0.50.87%▲0.50.55%▼0.30.78%▲0.21.2%▲0.4
DIIs0%0%6.63%▲6.67.13%▲0.59.4%▲2.39.02%▼0.411.66%▲2.613.14%▲1.5
Public38.58%37.24%▼1.334.26%▼3.034.29%▲0.035.86%▲1.638.69%▲2.835.81%▼2.933.91%▼1.9

Financial Statements

MetricSep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Sales3964605137237177307558111,1491,376
Expenses3814424886866806837107571,0701,283
Operating Profit15182537374745548093
OPM %4%4%5%5%5%6%6%7%7%7%
Net Profit791421362826335561
EPS ₹0.680.681.031.62.631.881.82.193.543.94

AI Insights

Revenue Trend

TTM revenue at ₹4,091Cr, up 39.9% YoY. OPM at 7%.

Debt Position

Borrowings at ₹653Cr. Debt-to-equity ratio: 0.78x. Moderate leverage.

Capex Cycle

CWIP at ₹110Cr (282% of fixed assets). Significant capex underway — growth runway building.

Institutional Flow

DIIs: 13.14% (+13.14pp change). FIIs: 1.2% (+1.19pp change). Promoters hold 51.74%.

Margin & Efficiency

ROCE improving from 0% (Mar 2013) to 19% (Mar 2025). Working capital days: 15.

Valuation

PE 38.8x with 19.4% ROCE. Price is 581% above book value of ₹64.3. Dividend yield: 0%.

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