Mumbai, November 14th, 2025 — Sky Gold and Diamonds Limited (BSE: 541967 | NSE: SKYGOLD), listed B2B Gold Jewellery manufacturer, today announced its Q2FY26 results for the quarter ended September 30, 2025. With a solid Q1FY25, the company has continued Q2FY26 with a strong growth momentum, backed by rising exports, capacity enhancement plans, and deeper retail partnerships across India, the Middle East and Southeast Asia.
Q2 FY26 Financial Highlights (Consolidated)
(All figures in ₹ crore unless otherwise stated)
| Particulars(₹ Crores) | Q2’FY26 | Q2’FY25 | Y-o-Y | Q1 FY26 | Q-o-Q |
| Revenue | 1484.5 | 768.8 | 93.1% | 1131 | 31.2% |
| EBITDA | 99.9 | 38.8 | 157.5% | 71.4 | 39.9% |
| EBITDA Margin (%) | 6.73% | 5.1% | 163bps | 6.3% | 43bps |
| PAT | 66.99 | 36.7 | 82.6% | 43.6 | 53.7% |
Commenting on the result, Mr. Mangesh Chauhan, Managing Director, Sky Gold and Diamonds Limited, said: “We are pleased to report that our Q2 FY26 results reflect a continued acceleration of the strategic growth levers we put in place earlier this year. With lightweight and 18 KT jewellery gaining strong traction, new large-format B2B partnerships coming on stream, and our export mix steadily rising, we are making tangible progress towards our medium-term ambition. At the same time, we remain disciplined on margin enhancement — expanding design-led manufacturing, strengthening advance-gold contracts, and optimising working capital to ensure that growth is also quality-accretive.”
“Looking ahead, our upcoming Dubai-based sales & distribution hub will anchor our expansion into the Middle East, while we continue to deepen partnerships across Southeast Asia and India’s regional markets. With exports expected to climb to 15-20 % over the next 18-24 months and domestic clients gaining momentum, we believe FY26 is shaping up as a pivotal year in our journey towards building a ~₹7,600 crore enterprise by FY27.”
Operational Performance & Growth Drivers
Sky Gold and Diamonds continues to outperform the organized jewellery manufacturing sector on volume and profitability metrics. Building on its differentiated cost structure (50% leaner than peers), the company remains committed to margin-accretive growth through strategic investments and global expansion.
Key highlights for Q2 FY26 include:
- Collaboration with SENCO Gold for 9kt jewellery – A strategic collaboration to launch a new product line of 9KT Gold Jewellery, which will target value-conscious & style-driven Gen Z consumer segment.
- Commencement of our B2B office in Dubai: Opening of our B2B office in Dubai, key market for Middle East region, has been done. The company has identified the region as a strategic growth market and have opened up a sales office, owing to the strong demand for high-quality jewellery in the Middle East particularly in Dubai (UAE)
- Commencement of our Newly Acquired Italian Bangles Segment: The strategic acquisition of Speed Bangle Private Limited (erstwhile Ganna N Gold Private Limited) provides an entry into the specialized and technically demanding lightweight (Italian) bangles segment. The business model will be 100% advance gold model, enhancing the working capital cycle with a five-year non- compete from existing promoters.
- Management & governance updates: Corporate disclosures in Q2 included strengthening of the Board with Mr Virupakshi Kolla, Ex-Gems & Jewellery Segment Head for Kotak Mahindra bank and Mr Siddharth Sipani, Ex-Big 4 as CFO reflecting strengthening of the Board and management team.
- New Sustained Growth Levers – During the quarter the company restated ambitious medium- term revenue & export targets and signalled that the export-led roadmap (with Dubai as a pillar) and further client traction are expected to be key growth levers for FY26/FY27.
