Sky Gold and Diamonds Limited, 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 results, 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
The company also announced the commencement of its Dubai-based B2B sales and distribution office, which will serve as a key anchor for its Middle East operations. Exports are projected to contribute 15–20% of total revenue over the next 18–24 months, as the company deepens partnerships across Southeast Asia and India’s regional markets.
Sky Gold’s Q2 performance was further strengthened by its strategic acquisition of Speed Bangle Private Limited, marking its entry into the specialized lightweight Italian bangles segment. The business will operate on a 100% advance-gold model, enhancing working capital efficiency.
In a notable domestic collaboration, the company partnered with Senco Gold to introduce a 9KT gold jewellery line aimed at the value-conscious, style-driven Gen Z segment — expanding its design appeal and product reach.
On the governance front, Sky Gold strengthened its leadership team with the appointment of Virupakshi Kolla, former Gems & Jewellery Segment Head at Kotak Mahindra Bank, and Siddharth Sipani, an ex-Big 4 professional, as Chief Financial Officer.
Looking ahead, Sky Gold and Diamonds aims to build on its momentum and scale towards a Rs 7,600 crore enterprise by FY27, driven by export-led growth, product innovation, and strategic partnerships.
Founded in 2008 and headquartered in Mumbai, Sky Gold and Diamonds is among India’s fastest-growing jewellery manufacturers, specialising in lightweight, design-led, and studded gold jewellery. With 150+ designers, 1.3 lakh sq. ft. of manufacturing space, and a design archive exceeding 9 lakh SKUs, the company serves leading Indian jewellery retailers and is rapidly expanding its global footprint.
