Sky Gold & Diamonds logo

Sky Gold & Diamonds

SKYGOLD NSE

Key Fundamentals

MicrocapJewellery & WatchesConsumer Goods
Market Cap
₹12,677 Cr
Volatility
Moderate
P/E Ratio
38.23
EBITDA
₹434 Cr
Return on Equity
19.4%
Debt to Equity
0.72
Book Value
₹77.39
52W High
₹868.8
52W Low
₹259

Tapetide Score

Data-driven rating, 0–100. How it works →

Key Insights

Strengths

2
  • Company is expected to give good quarter
  • Company has a good return on equity (ROE) track record: 3 Years ROE 27.5%

Weaknesses

3
  • Stock is trading at 10.7 times its book value
  • Though the company is reporting repeated profits, it is not paying out dividend
  • Promoter holding has decreased over last 3 years: -21.8%

Growth Rate

Revenue Growth
75.79% lower than 3Y
Net Income Growth
113% lower than 3Y
Cash Flow Change
-72.52%
ROE
17.01% lower than 3Y
ROCE
11.17% higher than 3Y
EBITDA Margin (Avg.)
7.19% lower than 3Y

AI Analysis — Bull vs Bear

Anthropic anthropic claude-opus-4.6 44d ago
AI opinion · based on fundamentals
Risk high

Sky Gold & Diamonds Ltd is a small-cap jewellery company with a market cap of ~₹9,970 Cr that has delivered exceptional growth — 77% TTM sales growth and 133% TTM profit growth — while maintaining a 3-year ROE of 27%. However, the stock trades at demanding valuations of 35.1x PE and 8.26x book value, and promoter holding has declined by 21.8% over three years.

Bull Case 7
  • TTM revenue growth of 77% indicates strong demand momentum and market share gains in the jewellery segment
  • TTM profit growth of 133% significantly outpaces revenue growth, suggesting operating leverage and margin expansion
  • 3-year compounded profit CAGR of 145% reflects sustained earnings acceleration, not a one-off quarter
  • 3-year ROE of 27% and last year ROE of 29% demonstrate consistent high-quality capital allocation
  • 3-year compounded sales CAGR of 76% shows the business has scaled rapidly over a multi-year period
  • Stock CAGR of 121% over 1 year and 189% over 3 years reflects strong market recognition of fundamentals
  • Company is expected to deliver a good upcoming quarter based on operational trends
Bear Case 8
  • PE ratio of 35.1x is elevated for a consumer discretionary company, leaving limited margin of safety if growth slows
  • Price-to-book of 8.26x is significantly above sector average, pricing in substantial future growth that must be delivered
  • Promoter holding has decreased by 21.8% over three years, raising concerns about insider confidence and potential dilution
  • Despite reporting repeated profits, the company pays negligible dividends (yield 0.31%), offering no income cushion to shareholders
  • Limited long-term track record — 5-year and 10-year growth data is unavailable, making it difficult to assess durability through cycles
  • Key financial ratios such as debt-to-equity, ROCE, and EPS are not available, reducing transparency for fundamental analysis
  • 52-week high and low data showing zero suggests potential data reporting gaps or recent corporate actions that obscure price history
  • At ₹9,970 Cr market cap with 35x PE, any deceleration in the 77% revenue growth rate could trigger a sharp de-rating

This is AI-generated analysis, not financial advice. Do your own due diligence.

AI News Digest

Anthropic anthropic claude-opus-4.6 101d ago
Positives 2
  • 38,839 ESOPs granted to employees May 5

    Sky Gold granted 38,839 stock options under ESOP 2024 at an exercise price of Rs. 10 per option, approved on May 5, 2026. Signals confidence in retention and growth.

  • 4,704 additional ESOPs granted May 27

    Sky Gold granted another 4,704 stock options under ESOP 2024 at Rs. 10 exercise price, vesting after one year. Continued employee incentivization.

Neutral 4
  • Analyst/investor meet on June 2 Jun 2

    Sky Gold held an in-person analyst and investor meeting on June 2, 2026. No UPSI was shared per prior disclosure on May 27.

  • Board to consider CEO appointment May 28

    Board meeting scheduled for June 9, 2026 to consider appointing Mr. Akash Talesara as CEO. Leadership formalization underway.

  • MSKA & Associates appointed auditor May 9

    Sky Gold appointed M/s MSKA & Associates LLP (BDO International member) as statutory auditors for the company and three subsidiaries, replacing M/s V J Shah & Co. Shareholder e-voting runs May 28 to June 26, 2026.

  • Q4FY26 results board meeting May 15

    Board meeting set for May 27, 2026 to approve audited standalone and consolidated financial results for Q4 and full year FY26. Earnings call followed on May 28.

TL;DR: Sky Gold is in an active governance phase — appointing a new CEO, replacing its auditor with a larger firm (BDO network), and granting over 43,500 ESOPs to employees. No financial results or operational negatives have surfaced in this period. The auditor upgrade to MSKA & Associates and potential CEO formalization suggest the company is professionalizing its structure, which is a modest positive signal for a growing consumer discretionary name heading into FY27.

Quarterly Results

Particulars Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Sales
376
396
460
513
723
769
998
1,058
1,131
1,484
1,768
1,912
2,013
Expenses
357
381
442
488
686
730
941
995
1,060
1,385
1,645
1,771
1,856
Operating Profit
19
15
18
25
37
39
57
63
71
100
122
141
157
OPM %
5%
3.9%
3.9%
4.9%
5%
5%
6%
6%
6%
7%
7%
7%
8%
Other Income
1
1
0
2
1
20
7
5
4
8
7
17
8
Interest
4
5
5
7
8
10
12
14
13
18
21
27
25
Depreciation
1
1
2
2
2
2
3
4
4
2
3
4
5
PBT
14
10
12
18
28
46
49
50
59
88
106
126
135
Tax %
25%
25%
25%
25%
25%
20%
26%
24%
26%
24%
24%
28%
22%
Net Profit
11
7
9
14
21
37
37
38
44
67
81
91
105
EPS in Rs
0.99
0.68
0.68
1.03
1.6
2.69
2.49
2.6
2.93
4.33
5.2
5.44
6.67
Figures in ₹ Crores

Profit & Loss

Particulars Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales
786
1,154
1,745
3,548
6,295
7,176
Expenses
765
1,117
1,668
3,351
5,861
6,657
Operating Profit
20
37
78
197
434
520
OPM %
2.6%
3.2%
4.5%
6%
7%
7%
Other Income
11
1
4
33
36
40
Interest
8
11
21
45
79
91
Depreciation
1
1
6
11
13
14
PBT
22
25
54
174
379
455
Tax %
22%
26%
25%
24%
26%
—
Net Profit
17
19
40
133
282
343
EPS in Rs
1.58
1.73
3.06
9.04
17.78
21.64
Div. Payout %
0%
12%
3%
0%
0%
—
Figures in ₹ Crores

Balance Sheet

Particulars Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital
5
11
13
147
155
Reserves
71
87
231
537
1,044
Borrowings
92
146
330
630
869
Other Liabilities
6
8
11
43
127
Total Liabilities
175
252
586
1,357
2,195
Fixed Assets
8
9
35
106
376
CWIP
0
0
1
1
0
Investments
45
68
91
77
44
Other Assets
122
175
459
1,174
1,775
Total Assets
175
252
586
1,357
2,195
Figures in ₹ Crores

Cash Flow

Particulars Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Operating
-7
-6
-158
-273
-45
Investing
-2
-20
-106
-157
-124
Financing
10
43
259
427
171
Net Cash Flow
1
17
-5
-3
2
Free Cash Flow
-8
-9
-178
-288
-140
CFO/OP
-20
2
-186
-120
15
Figures in ₹ Crores

Ratios

Particulars Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days
20
21
21
47
33
Inventory Days
36
28
59
44
50
Days Payable
1
0
1
3
6
Cash Conversion Cycle
55
49
80
88
77
Working Capital Days
20
6
14
25
28
ROCE %
—
17%
18%
21%
27%

Insights

Beta

AI-extracted from concalls & annual reports · figures as reported, with sources

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Shareholding Pattern

FIIs2.79%Promot.51.74%Others10.60%DIIs14.21%Public20.66%As ofJun 2026

Documents

Frequently Asked Questions about Sky Gold & Diamonds

What does Sky Gold & Diamonds Ltd do?
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]
Where is Sky Gold & Diamonds Ltd (SKYGOLD) listed?
Sky Gold & Diamonds Ltd trades as SKYGOLD on the NSE and under code 541967 on the BSE.
Which sector does Sky Gold & Diamonds Ltd belong to?
Sky Gold & Diamonds Ltd is classified under the Consumer Discretionary sector, in the Consumer Durables industry.
What is the market capitalisation of Sky Gold & Diamonds Ltd?
Sky Gold & Diamonds Ltd has a market capitalisation of ₹12,677 Cr, which places it in the Mid Cap band.
What is the PE ratio of Sky Gold & Diamonds Ltd?
Sky Gold & Diamonds Ltd trades at a PE ratio of 38.23, against a book value of ₹77.39 per share.
What is the 52-week high and low of Sky Gold & Diamonds Ltd?
Over the last 52 weeks Sky Gold & Diamonds Ltd has traded between ₹259 and ₹868.8.
Does Sky Gold & Diamonds Ltd pay dividends?
Sky Gold & Diamonds Ltd has a dividend yield of 0.24%.
What is the Return on Equity (ROE) of Sky Gold & Diamonds Ltd?
Sky Gold & Diamonds Ltd reported a return on equity of 19.40%. Its debt-to-equity ratio is 0.72.

Company Information

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]

Website skygold.co.in
Listed 2023-01-06
Face Value ₹ 10
Issued Size 15,48,63,884

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