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S SKY GOLD & DIAMONDS MAKE IN BHARAT , FOR THE WORLD- Investor Presentation - Q1FY27 4-0-0
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Safe Harbor Statement 2 This presentation and the accompanying slides (the “Presentation”), which have been prepared by Sky Gold and Diamonds Limited (the “Company”), have been prepared solely for information purposes and do not constitute any offer, recommendation or invitation to purchase or subscribe for any securities, and shall not form the basis or be relied on in connection with any contract or binding commitment what so ever. No offering of securities of the Company will be made except by means of a statutory offering document containing detailed information about the Company. This Presentation has been prepared by the Company based on information and data which the Company considers reliable, but the Company makes no representation or warranty, express or implied, whatsoever, and no reliance shall be placed on, the truth, accuracy, completeness, fairness and reasonableness of the contents of this Presentation. This Presentation may not be all inclusive and may not contain all of the information that you may consider material. Any liability in respect of the contents of, or any omission from, this Presentation is expressly excluded. Certain matters discussed in this Presentation may contain statements regarding the Company’s market opportunity and business prospects that are individually and collectively forward-looking statements. Such forward-looking statements are not guarantees of future performance and are subject to known and unknown risks, uncertainties and assumptions that are difficult to predict. These risks and uncertainties include, but are not limited to, the performance of the Indian economy and of the economies of various international markets, the performance of the industry in India and world-wide, competition, the company’s ability to successfully implement its strategy, the Company’s future levels of growth and expansion, technological implementation, changes and advancements, changes in revenue, income or cash flows, the Company’s market preferences and its exposure to market risks, as well as other risks. The Company’s actual results, levels of activity, performance or achievements could differ materially and adversely from results expressed in or implied by this Presentation. The Company assumes no obligation to update any forward-looking information contained in this Presentation. Any forward-looking statements and projections made by third parties included in this Presentation are not adopted by the Company and the Company is not responsible for such third party statements and projections.
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Index 3 01 Q1FY27 Financial Snapshot 02 Vision 2030: Sky Gold 3.0 03 Drivers of Growth 04 Company Overview 05 Financial Delivery
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Q1 FY27 Financials
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Q1 FY27 Performance Scorecard Q1 FY27 FY 2025-26 * Consolidated Results ₹ 2,012.8 Crore Revenue from Operations + 77.9% Y-o-Y ₹ 187.5 Crore Gross Profit + 105.3% Y-o-Y ₹ 156.7 Crore EBITDA + 119.6% Y-o-Y ₹ 104.9 Crore PAT + 140.7% Y-o-Y ₹ 6,294.9 Crore Revenue from Operations + 77.4% Y-o-Y ₹ 537.2 Crore Gross Profit + 114.1% Y-o-Y ₹ 434.3 Crore EBITDA + 121.1% Y-o-Y ₹ 281.8 Crore PAT + 112.4% Y-o-Y 5
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Q1 FY27 Performance Highlights 6 Gross Profit & Gross Margin % Revenue from Operations PAT & PAT Margin % EBITDA & EBITDA Margin % (AllFigures In Rs Cr) 1,131.2 2,012.8 3,548.0 6,294.9 Q1 FY26 Q1 FY27 FY25 FY26 +78% +77% 71.4 156.7 196.4 434.3 Q1FY26 Q1FY27 FY25 FY26 +120% +121% 91.3 187.5 250.9 537.2 Q1FY26 Q1FY27 FY25 FY26 +105% +114% 43.6 104.9 132.7 281.8 Q1FY26 Q1FY27 FY25 FY26 +141% +112% 8.1% 9.3% 7.1% 8.5% 3.9% 5.2% 3.7% 4.5%6.3% 7.8% 5.5% 6.9%
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Improving Financial Position ` 34 37 46 39 26 27 -2 -4 -13 Mar-25 Mar-26 Jun-26 Inventory Days Receivable Days Payable Days -272 -45 30 Mar-25 Mar-26 Jun-26 Working Capital Days Cashflow from Operations ` (In Crs.) Advance Gold Business Mix (%)* Mar-25 Mar-26 Jun-26 5.7% 11.5% 17.0% % contribution of volume Net Working Capital Days 71 59 60 0 50 100 Mar-25 Mar-26 Jun-26 In Q1 FY27, the Company achieved positive cash flow and is committed on further enhancing cash generation during the remainder of FY27 7
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Q1 FY27 Operational PAT 8 Particulars (₹ Cr) Q1 FY27 Q1 FY26 Y-o-Y Q4 FY26 Q-o-Q Revenue 2,012.8 1,131.2 77.9% 1911.5 5.3% EBITDA 156.7 71.4 119.6% 140.7 11.4% EBITDA Margin (%) 7.8% 6.3% 148 bps 7.4% 43 bps Reported PBT 134.8 58.9 129.0% 126.2 6.8% Reported PBT (%) 6.7% 5.2% 149 bps 6.6% 10 bps Reported PAT 104.9 43.6 140.7% 90.7 15.6% Reported PAT Margin (%) 5.2% 3.9% 136 bps 4.7% 47 bps Operational PBT 134.8 58.6 130.1% 122.5 10.1% Operational PBT (%) 6.7% 5.2% 152 bps 6.4% 29 bps Operational PAT 104.9 43.3 142.3% 87.0 20.6% Operational PAT (%) 5.2% 3.8% 138 bps 4.6% 66 bps Note:- Operational PAT / PBT is reported PBT / PAT less non operational income (part of other income in financials)
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9 Q1 FY27 Consolidated Profit & Loss Statement 9 Profit & Loss Statement (₹ Cr) Q1 FY27 Q1 FY26 Y-o-Y Q4 FY26 Q-o-Q Revenue from Operations 2,012.8 1,131.2 77.9% 1,911.5 5.3% Cost of Materials Consumed & Traded Goods 2,080.5 1,181.6 1,929.9 Changes in Inventories of FG & WIP (255.2) (141.7) (189.3) Gross Profit 187.5 91.3 105.3% 170.9 9.7% GP % 9.3% 8.1% 124 bps 8.9% 38 bps Employee Benefits Expense 16.8 12.0 17.1 Other Expenses 14.0 8.0 13.1 EBITDA 156.7 71.4 119.6% 140.7 11.4% EBITDA % 7.8% 6.3% 148 bps 7.4% 43 bps Other Income 8.0 4.3 16.6 Depreciation and Amortisation Expense 4.5 3.6 4.3 EBIT 160.2 72.1 122.0% 153.0 4.7% Finance Costs 25.4 13.3 26.8 PBT 134.8 58.9 129.0% 126.2 6.8% Tax Expenses 29.9 15.3 35.4 PAT 104.9 43.6 140.7% 90.7 15.6% PAT % 5.2% 3.9% 136 bps 4.7% 47 bps
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Q1 FY27 Company & Industry Updates 10 Appointment of Akash Talesara as the CEO Strengthening Presence in London and Expanding Export Opportunities • Mr. Akash is a highly experienced business leader with over two decades of expertise in the gems and jewellery industry, encompassing exports, diamond jewellery sales, merchandising, business development, and market expansion • A graduate of the National Institute of Fashion Technology (NIFT) with advanced management education from the Indian Institute of Management (IIM), he possesses a strong blend of industry expertise, strategic insight, and execution capabilities • His experience includes successfully expanding operations and strengthening market presence across both domestic and international markets • Showcased product portfolio at the Asiana UK–India Jewellery Expo, London in line with Sky Gold's international diversification strategy • Generated strong order interest with initial order book of INR 30-45 Cr from buyers across the UK and Europe, showing positive future export signs • Continued focus on driving export growth through strategic collaboration and channel expansion initiatives • Natural diamonds currently account for ~ 2%, providing significant headroom for growth with the objective to double this contribution in the coming years • Company continues to scale its presence in the rapidly growing lab-grown diamond segment, a sunrise industry with strong long-term demand potential • Growth in natural and lab grown diamond studded jewellery sales will strengthen the premium product mix and support higher gross margins • Strengthening the Advance Gold business as a strategic growth pillar, leveraging its asset-light and capital-efficient model to enhance ROCE and support scalable, profitable growth Key Growth Drivers: Value-Added Products and Advance Gold Onboarded a Leading Global Accounting Firm • M S K A & Associates LLP, Chartered Accountant (member firm of BDO International) has been appointed as the Statutory Auditors • The current quarter’s financials have been reviewed by them • This appointment underscores the company’s commitment to adopting global best practices in financial reporting, compliance, and corporate governance • This transition forms part of the company’s broader initiative to further strengthen corporate governance standard
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Vision 2030: Sky Gold 3.0
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Promoters’ Vision – “Skin In The Game” Through Dividend Only Compensation 12 Managements Comments Dear Shareholders, As we embark on SkyGold 3.0, we are placing governance and professionalisation at the very heart of our journey. A stronger, future-ready organisation requires not only scale but also discipline, and we are committed to enhancing our HR practices through the induction of external leadership talent. This ensures that our people agenda remains aligned with global best practices and capable of supporting long-term growth. In line with our cash-first philosophy and uncompromising governance standards, promoters will not draw salaries from FY27, all promoter payouts will be solely through dividends generated from operating cash flows. This approach fully aligns promoter outcomes with cash generation and balance- sheet strength, reinforcing our commitment to shareholder value creation. Inline with our ongoing commitment to further strengthen our financial reporting framework. We have onboarded BDO one of the largest global accounting firms, underscoring our dedication to transparency, resilience, and credibility in every aspect of our financial disclosures. Building on the strong foundation of Sky Gold & Diamonds Ltd., our priorities remain clear: sustainable growth, prudent capital allocation, and disciplined governance. We are determined to create enduring value for shareholders while nurturing a culture of accountability, professionalism, and innovation across the organisation. Mr. Mangesh Chauhan (Managing Director) Mr. Mahendra Chauhan (Whole Time Director) Mr. Darshan Chauhan (Whole Time Director)
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Sky Gold & Diamonds Ltd. differentiates itself through technological innovation, creative scalability and industry-leading manufacturing cycles Why Customers Prefer Sky Gold & Diamonds Ltd. • Creative Synergy & Strategic Merchandising: Our design engine has evolved into a significant competitive moat, characterized by a doubling of our design talent pool to ~180 professionals over the last three years. This multigenerational team balances senior expertise with "boots-on-the-ground" insights from junior designers to master local market nuances. • Global Market Penetration: Our merchandising team successfully onboarded one of the Middle East’s largest retail chains in record time—a feat notable because the typical sales cycle for such clients is considerably longer. This proves company’s capability to capture local preferences beyond the Indian diaspora. • Prestigious Endorsements: Our design leadership is validated by industry giants; we have been awarded for design capabilities by Joyallukas and Aditya Birla. • Margin Expansion: Reflecting our strengthening merchandising capabilities, our Value-Added share of business has surged from <10% in FY23 to ~50-55% in FY26, serving as the primary driver for gross margin expansion. • Manufacturing Innovation & Technology Replication: While competitors utilize fragmented methods, company’s edge lies in its ability to replicate high-precision 3D technology across multiple manufacturing forms, including casting, electro-forming, and stamping. • Product Superiority & Agility: By synthesizing these technologies, we deliver products with a 10–20% lower weight and superior finish within a highly compressed manufacturing cycle. This innovation directly increases the customer's willingness to pay for refined, lightweight jewelry. • Operational Excellence: We have implemented an ERP to monitor operational KPI’s, this has led to reduction of gold loss from 1.5% to a lean 0.5%. • Unified Ecosystem: We plan to achieve integration between our front-end sales teams, back-end production and finance. This enterprise-wide ERP transition will enable stringent control over inventory and receivables, ensuring better organizational transparency. Building a Competitive Moat Through Design, Merchandising & Manufacturing Innovation 13 Sky Gold & Diamonds Ltd: Preferred Partner in Jewelry Excellence
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Vision 2030 14 What we had guided in FY23 FY23 Performance • Revenue of ₹1,154 crore with EBITDA of ~₹36.3 crore (margin ~3.1%) • PAT of ₹19 crore (margin ~1.6%) • Volumes at a run-rate of ~200 kgs per month • Promoter-led operations with early steps toward professionalisation and governance strengthening FY27 Guidance • Revenue expected at ~₹5,000 crore • PAT margin guided at ~3.5% Key Growth Levers • Successful migration to the Main Boards of NSE & BSE • Market leadership in light-weight jewellery, with dominance in 22kt and strategic shift toward lower-kt and studded jewellery mix • Limited export exposure, with plans to establish Sky Gold as a trusted global export partner from India • Strengthening of the Board of Directors and increasing focus on professionalism, automation, and long-term client relationships What we have achieved FY30 – Realising The Vision FY26 Performance • Revenue of ₹6,295 crore with EBITDA of ₹434 crore (margin ~ 6.9%) • PAT of ₹282 crore (margin ~4.5%) FY27 Guidance (Revised Upwards): • FY27 Revenue projected at ~8,100 crore • EBITDA margin expected in the range of ~7.0-7.5% • PAT margin guided at 4.5% - 4.75% • Continued focus on capital efficiency, advance gold and margin expansion Key Growth Levers • Portfolio strengthened through strategic acquisitions, expanding TAM and product depth • Board of Directors reinforced with industry veterans, alongside key leadership hires across domains • Manufacturing footprint expanded to 1,35,000 sq. ft. • Opening of Dubai Office • Onboarded one of the larger global accounting firms FY30 Guidance • Revenue expected to be ~₹18,000 -19,000 crore • PAT margin projected to be ~5.25%+, aggregating to ₹ 945 crores • ROCE of 27% + • CFO/PAT of ~20% + • Net debt positive, driven by improvements in the working capital cycle Key Growth Levers • Exports mix to improve • Product mix upgraded with higher design complexity and value-added jewellery, supporting differentiation and margin expansion • Expansion into emerging categories such as 18kt, 9kt, and diamond-studded jewellery • Advance gold expected to contribute ~30% of volumes by FY30, is 11.5% in FY26 Business Quality by FY30 • Balanced domestic and export revenue mix • Improving ROCE, supported by margin expansion and stronger asset turns • Strong corporate governance, consistent positive operating cash flows, and a resilient balance sheet
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` Future Projections Revenue (In Crs.) & PAT Margin(%) 3,548 3,548 6,400 0.0 0.5 1.0 1.5 2.0 2.5 3.0 3.5 4.0 4.5 5.0 5.5 0 5,000 10,000 15,000 20,000 2.3% FY2024A 3.7% FY2025A 4.5% FY2026A 5.3% 18,000-19,000 FY2030E PAT Margin Revenue FY27 Cash Flow Operations (In Crs.) 15 FY30 ` 143 324 549 Mar-24A Mar-25A Mar-26A Mar-27E 200-250 -50%-55% Net Debt (In Crs.) ` Cash Flow Operations (In Crs.) -137 -272 -45 FY2024A FY2025A FY2026A FY2027E 180-225
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Sky Gold’s Growth Blueprint: Strengthening Foundations for Long-Term Value Founded in 2005, Sky Gold & Diamonds Ltd. vision was to serve large retailers and build a leadership position through innovative design. Post IPO, we leveraged investor trust to scale rapidly through customer penetration and geographic expansion, leading to improved brand recognition and profitability. Following the preferential allotment from marquee investors in FY24, we guided for ₹3,000 Cr revenue, ~3% PAT margin, and cash-flow neutrality by FY27–28 (vs FY24 revenue of ₹1,745 Cr). Since then, execution has exceeded expectations, and we have progressively upgraded our guidance. We now expect to achieve ₹8,100 Cr revenue and 4.5%-4.75% PAT margin, while generating operating cash flows from FY27, well ahead of original guidance, without compromising growth. Evolution of Sky Gold & Diamonds Ltd. In the third phase, company aims to focus on internal cash generation. Overall growth (including volume) will continue to remain central to our strategy, but we firmly believe that disciplined growth and cash generation need to be pursued in parallel. Growth will not be sacrificed; instead, it will be supported by operating positive cash flow as well leading to more stronger balance sheet. This phase of growth will focus on advance gold, customers, segments, geographies with shorter payment cycles. This strategy is expected to deleverage the balance sheet and structurally improve PAT margins by ~1%, going forward. Sky Gold 3.0: Fueling Our Own Growth - Growth-Led, Cash-Focused 16 Sky Gold & Diamonds Ltd. remains a boutique player in an immensely fragmented B2B manufacturing space. As the Indian jewellery sector shifts from unorganized to organized, we are positioned to capture this "long runway" of growth through two core pillars: Agile Manufacturing: Lean, design-centric model allows us to proactively identify market trends & deliver finished products with industry-leading turnaround times Strong Customer Base: Our customer list includes all major B2C jewellery retailers of India & Middle-East. Furthermore, we expect our new and nurturing business of natural & lab-grown diamonds to improve having better margins. Strategic Roadmap: Market Positioning & Competitive Edge
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Historically, Sky Gold & Diamonds Ltd has focused on corporate accounts due to lower receivable risk. Going forward, we plan to expand into large unorganized players and smaller brands through a dedicated vertical. For these customers, we will primarily operate on advance gold or spot payment terms. We have also bolstered our Dubai office by onboarding an experienced team which will enhance our ability to serve and grow across the Middle East and Southeast Asia. Expansion of Addressable Opportunity Currently, company operates at a PAT margin of ~4.5%. PAT margins will expand driven by the initiatives outlined above. However, we guide for 10-20 bps improvement in PAT margins Y-o-Y as we continue investing in new geographies and high-growth categories. Further, working capital days is also expected to improve, supported by scale benefits, higher export mix, increased spot payments and greater share of advance gold volumes. Impact of Quality and Mix Improvement on Unit Economics 17 Sky Gold’s Growth Blueprint: Operational Levers for Sustainable Returns The advance gold model operates on a client-supplied basis, wherein the customer provides gold upfront to the company. The company bills only for the making charges. Since the underlying metal is not purchased or financed by the company, the model eliminates inventory risk, reduces capital intensity, and enables high- volume scalability with minimal balance sheet impact. By FY30, advance gold is expected to contribute ~30% of volumes, is 11.5% in FY26. Owing to the accounting treatment of the advance gold business, which reflects only job work charges (making charges) and excludes the total metal value under the contract, its revenue contribution appears modest. However, its impact on ROCE will be transformative as this category requires zero working capital investment for inventory, minimum investment on receivable, allowing us to scale volume without requiring additional working capital to service this category. The "Advance Gold" Advantage
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Drivers of Growth
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Core Pillars for Progress: Robust Growth with Focus on Positive Cash Flows Generation 19 Revenues (in Crs.) Achieving Growth Through Strategic Focus on Key Pillars 786 1,154 1,746 3,548 6,295 8,100 FY22 A FY23 A FY24 A FY25 A FY26 A FY27 P +701% +59% Levers For Revenue Growth Margin Expansion Improvement In Cash Conversion Cycle Building Fortress Balance Sheet *Revenue Projection on consolidated level Delivering on Growth Guidance • Entry into new corporates • Increase in share of business • Expanding reach in unorganised market • Global expansion • Increase in share of value-added products • Increase in advance gold model • Reduction in gold loss • Increase in share of co- creation products • Reduction in working capital days to be driven by advance gold • Integrated control through ERP • Higher export mix • Net Debt free status to be achieved through improvement in OCF and profitability
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Shining Bright: The Future of India’s Jewellery Industry 20 Source: Technopak Analysis 48 60 43 57 70 84 145 2018 2020 2021 2022 2023 2024 2028P +8% +16% Indian Domestic Jewellery Market Size – by V alue (USD billion) • By FY 2028, the Indian jewellery retail market is set to touch USD 145 billion, driven by macroeconomic tailwinds and a rise in disposable incomes. • A strong cultural affinity for gold, along with growing traction in alternative categories like gemstone and fashion jewellery, is accelerating consumer demand and market diversification. Breakup of Jewellery Market by Usage – By V alue 55%35% 10% 57%32% 11% Bridal Wear Daily Wear Fashion FY2024 FY2028P • Manufacturers are strategically focusing on producing lightweight pieces to cater to the preferences of younger consumers, particularly those seeking daily wear gold jewellery that complements western-style attire. • With over 65% of India's population under 35 and more than 308 million women aged 20–49, this demographic demands jewellery that emphasizes quality, authenticity, and purity—creating a significant opportunity for premium yet accessible offerings.
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Glittering Prospects: Exploring Investment in India’s Jewellery Market 21 Source: Technopak Analysis Organised Segment T o Continue Gaining Market Share In The Retail Jewellery Market Some Of The Fine-Tuned Strategies Adopted By Industry Players Transparency in pricing Benchmarked Making Charges Competitive Gold Rates Regionalized Store Inventory 100% Exchange Value Assurance Cutting-edge technology 90.0% 67.0% 63.0% 62.0% 57.0% 10.0% 33.0% 37.0% 38.0% 43.0% FY21 FY22 FY23 FY24 FY28P Organized Uroganized The market size of the organized sector is projected to grow from USD 19.2 billion in FY 2020 to USD 82.65 billion by FY 2028, reflecting a CAGR of 20% Indian jewellery consumers are becoming increasingly discerning and brand conscious by seeking assurance of the final product's quality and transparency in their jewellery purchases which can only be provided by organized retailers Organized jewellery retailing today represents a wide range of ready-made ornaments, offering various designs and options National and regional jewellery retailers, with their bigger scale, can tailor designs to regional preferences and global trends Large organized manufacturers size enables them to undertake frequent launches of new collections and brands, offering customers a wide variety of options
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Company Overview
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SKY Gold & Diamonds : Make in Bharat for the World 23 Leading the way in manufacturing of Casting Gold Jewellery since 2005 Established in 2005, Sky Gold has been a trailblazer in the realm of casting jewellery. Founded by three visionary founders: Mangesh Chauhan Mahendra Chauhan Darshan Chauhan Sky Gold & Diamonds have evolved into a symbol of excellence in light weight design & quality
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Crafted For Tomorrow : Sustainable, Stunning and Smart 24 Extensive Industry Experience With years of dedicated service, Sky Gold & Diamonds brings a wealth of experience to the art of jewellery manufacturing Customizable Designs We take pride in offering a personalized touch to our jewellery, ensuring that each piece reflects the unique style and preferences of our customers Skilled and Talented Craftsmen Behind every masterpiece is a team of skilled and talented craftsmen, dedicated to precision and artistry Fair Price and Trade Policy At Sky Gold & Diamonds, transparency and fairness are integral to our trade policy, ensuring that our customers receive quality jewellery at honest prices At Sky Gold & Diamonds, we go beyond being manufacturers; we are creators of timeless pieces, and our commitment to excellence resonates in every facet of our craftsmanship. Throughout the journey, Sky Gold & Diamonds has consistently demonstrated resilience, evolution, and a commitment to excellence, making it a prominent and respected name in the industry. Some of Our Distinctive Features are as follows: 20 Years of Experience 1500 (including 180 designers) Employees Manufacturing Facility 1,50,000 sqft Manufacturing Capacity 14.4 tonne per year Available with reputed Indian & international corporates & distributors Available in 2,000 retail outlets across India & 500+ outlets globally
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Key Milestones 25 • Made it to the Main Boards of NSE & BSE • New 81,000 Sq Ft Manufacturing Facility • Fund raise from UHNI & warrants issuance to promoters (₹128Cr) 2023 • Acquisition of Star Mangalsutra & Sparkling Chains • Successful completion of QIP worth ₹ 270 Cr • Bonus issue of 9:1 2024 • Acquisition of Speed Bangle Pvt. Ltd. (erst while Ganna n Gold) entry into new segment of light weight Bangles • Acquisition of 51% partnership interest in Shri Rishab Gold through Starmangalsutra 2025 • Achievement of listing on the BSE SME reflecting transparency & scale of operations • Crossed Turnover of ₹ 500 Cr 2018 • Incubated as a SkyGold Started as a Partnership firm, laying the foundation of its remarkable journey in jewellery industry transformed into a Pvt Ltd in 2008 • Marking a significant step towards growth and expansion 2005 - 2008
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Management Team 26 With over two decades of experience, Mangesh Chauhan has transformed Sky Gold & Diamonds Ltd. into a leading force in lightweight gold and diamond jewellery. Starting in Mumbai’s Zaveri Bazar, he pioneered India’s first organised B2B jewellery manufacturing model and steered the company from inception to NSE main-board listing with a market cap exceeding ₹5,000 crore. His blend of strategic vision, financial discipline, and operational innovation has built long-term investor confidence and sustainable growth. Guided by “Make in Bharat for the World,” he continues to expand Sky Gold’s global footprint while upholding quality, integrity, and innovation. Mr. Mangesh Chauhan Mahendra Chauhan spearheads production, design, and R&D at Sky Gold, ensuring precision, innovation, and quality across every process. His technical mastery in plant and machinery has elevated operational efficiency and enabled scalable, cost-effective manufacturing. Under his leadership, the company has introduced advanced automation and modernized design capabilities, delivering high-quality, trend-responsive jewellery at competitive costs. His relentless pursuit of innovation, attention to detail, and commitment to excellence continue to strengthen Sky Gold’s reputation as a benchmark in manufacturing sophistication and craftsmanship. Mr. Mahendra Chauhan Darshan Chauhan has been instrumental in redefining the lightweight gold and diamond jewellery segment. He leads design innovation, exports, and brand partnerships with industry giants such as Malabar Gold, Joyallukas, Caratlane, Kalyan Jewellers, Senco, CaratLane and many more. Under his guidance, Sky Gold has grown its Exports business with presence across UAE, Malaysia and Singapore. His focus on agile manufacturing, consumer-driven design, and sustainable practices has positioned Sky Gold as a global symbol of accessible luxury and modern craftsmanship. Mr. Darshan Chauhan
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Competitive Advantages 27 Lead Time From design to finished product in 7-20 days. Tech-focused Manufacture Using latest technology like 3D printing machines from Germany, Italy & The United States. Scale of Operation Leading single – location manufacturer in India. Vast Design Collection Offering 9 lac plus unique design in our catalog. Our R & D Approach Analyze global fashion trends, innovate, design in India. Experience Total promoters experience of more than 50 years. y y
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Strategic Directions Deepen & fortify our current customer connections while extending our reach into new geographical markets. Amplify our production capabilities & enrich our product portfolio, both domestically & internationally. Persist in substantial investments in marketing & brand-building endeavors, with a focus on global visibility.. Harness the power of technology for expansion, embracing international strategic directions. Bolster our Inventory Management practices for enhanced efficiency on a global scale. Strategic Directions 28
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Sky Sub-Brands 29 Rangi Marisa Saathiya Sovana Misha Shaan Tazim Zenna Kimora Shai Rose Atiriya Aasma Sky9 Diamonds Morni
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Clients- Strong Relationships Fueling Growth Domestic Clients International Clients 30
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IIJS Bharat 2026: Product Launch and Media Highlights 31 Launch of an Exclusive Limited-Edition Commemorative Pen Honoring Hon'ble Prime Minister Shri Narendra Modi
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Recognition & Reach: Prestigious Shows and Accolades 32
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Glimpse of our Navi Mumbai Facility 33
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Financial Delivery
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Historical Profit & Loss Statement 35 Profit & Loss Statement (Rs. Crs.) 31-Mar-26 31-Mar-25 31-Mar-24 Revenue from Operations 6294.9 3548.0 1,745.5 Cost of Materials Consumed 5,986.8 3393.2 1,821.7 Purchases of stock in trade 108.5 0.0 0.0 Changes in Inventories of FG & WIP -337.4 -96.1 -180.9 Gross Profit 537.2 250.9 104.7 GP % 8.5% 7.1% 6.0% Employee Benefits Expense 57.3 29.4 13.5 Other Expenses 45.5 25.2 13.9 EBITDA 434.3 196.4 77.2 EBITDA % 6.9% 5.5% 4.4% Other Income 36.4 33.0 3.7 Depreciation and Amortisation Expense 12.8 10.7 6.4 EBIT 457.9 218.6 74.6 Finance Costs 78.8 44.4 20.5 PBT 379.1 174.2 54.1 Total Tax Expense 97.2 41.6 13.6 Profit for the period 281.8 132.7 40.5 PAT % 4.5% 3.7% 2.3%
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Historical Balance Sheet 36 ASSETS (Rs. Crs.) 31-Mar-26 31-Mar-25 31-Mar-24 ASSETS Non ‐ Current Assets Property, plant and equipment 98.2 36.4 24.7 Capital work‐in‐progress 0.0 0.6 1.0 Right of Use Assets 19.2 23.7 10.2 Investment Property 2.4 2.4 0.0 Goodwill 250.5 42.3 0.0 Other Intangible Assets 6.0 0.7 0.1 Financial Assets (i) Investments 44.0 77.0 90.6 (ii) Other Financial Assets 22.8 31.6 1.1 Other non‐current assets 5.7 91.0 1.5 Total Non ‐ Current Assets 448.8 305.7 129.1 Current Assets Inventories 785.9 396.9 266.1 Financial Assets (i) Investments 0.0 0.0 0.0 (ii) Trade receivables 562.6 452.2 102.1 (iii) Cash and cash equivalents 7.9 10.9 13.4 (iv) Bank Balance other above 227.5 164.2 63.4 (v) Loans 1.5 0.9 0.1 Other current financial assets 18.8 2.5 0.4 Current Tax Assets (Net) 0.0 0.0 0.0 Other current assets 31.8 23.5 11.0 Total Current Assets 1,636.1 1,051.1 456.5 Non-Current Assets classified as Held for Sale 110.1 0.0 0.0 TOTAL ASSETS 2,194.9 1,356.8 585.6 EQUITY AND LIABILITIES (Rs. Crs.) 31-Mar-26 31-Mar-25 31-Mar-24 Equity (a) Equity share capital 154.9 146.7 13.2 (b) Other equity 1037.1 537.1 230.9 Equity attributable to equity holders 1192.0 683.8 244.1 Non‐controlling interests 13.9 0.0 0.0 Total Equity 1205.9 683.8 244.1 Liabilities Non ‐ Current Liabilities Financial liabilities (i) Borrowings 48.1 16.4 17.6 (ii) Lease liabilities 14.6 20.1 9.1 (iii) Other Financial Liabilities 0.0 0.0 0.0 Provisions 2.7 1.6 1.0 Deferred Tax Liabilities (Net) 0.3 0.7 2.4 Total Non ‐ Current Liabilities 65.7 38.8 30.1 Current Liabilities Financial liabilities (i) Borrowings 799.8 588.5 281.1 (ii) Lease liabilities 6.7 5.4 2.2 (iii) Trade payables (a) total outstanding dues of MSME 64.9 21.2 1.3 (b) total outstanding dues other than MSME 25.9 4.8 3.1 (iv) Other financial liabilities 3.7 1.4 21.1 Other current liabilities 9.9 1.1 0.8 Provisions 7.1 1.0 0.4 Current tax liabilities (Net) 5.6 11.0 1.4 Total Current Liabilities 923.6 634.2 311.4 TOTAL EQUITY AND LIABILITIES 2,195.2 1,356.8 585.6
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Historical Cash Flow Statement 37 Cash Flow Statement (Rs. Crs.) Mar-26 Mar-25 Mar-24 Cash Flow from Operating Activities Profit before Tax 379.1 174.2 54.1 Adjustment for Non-Operating Items 73.0 24.6 23.1 Operating Profit before Working Capital Changes 452.0 198.8 77.2 Changes in Working Capital (388.8) (434.6) (200.7) Cash Generated from Operations 63.3 (235.9) (123.5) Less: Direct Taxes paid (108.2) (36.3) (13.7) Net Cash from Operating Activities (44.9) (272.2) (137.2) Cash Flow used in Investing Activities (123.7) (156.9) (107.0) Cash Flow (used in)/ from Financing Activities 171.0 426.0 239.2 Net increase/ (decrease) in Cash & Cash equivalents 2.4 (3.1) (5.0) Cash and cash equivalents at beginning of the year 8.7 14.0 18.4 Exchange difference of Foreign Currency Cash & Cash Equivalent (3.2) 0.0 0.0 Cash and cash equivalents at the end of the year 7.9 10.9 13.4
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Key Financial Highlights 38 Revenue from Operations EBITDA Net Profit 786 1,154 1,745 3,548 6,295 FY22 FY23 FY24 FY25 FY26 20 37 77 196 434 FY22 FY23 FY24 FY25 FY26 17 19 41 133 282 FY22 FY23 FY24 FY25 FY26 5 Year CAGR : 68.2% 5 Year CAGR : 115.9% 5 Year CAGR : 101.8%
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Performance Highlights 39 Return Ratios Current Ratio Improving Leverage Ratios 1.3 1.5 1.7 1.8 FY23 FY24 FY25 FY26 1.5 1.3 0.9 0.7 3.3 3.6 4.9 5.8 FY23 FY24 FY25 FY26 Interest Coverage Debt To Equity 19% 32% FY23 17% 27% FY24 19% 30% FY25 23% 36% FY26 ROE ROCE Higher Return Ratios as a result of better managed Operations & Disciplined Capital Allocation
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Corporate Office: Plot No. D-222/2 TTC Industrial Area, MIDC Shiravane, Navi Mumbai – 400 706, Maharashtra, India. www.skygold.co.in MUFG Intime India Private Limited A part of MUFG Corporate Markets, a division of MUFG Pension & Market Services vidhi.vasa@in.mpms.mufg.com parth.patel@in.mpms.mufg.com www.mpms.mufg.com Name: Vidhi Vasa / Parth Patel Email: vidhi.vasa@in.mpms.mufg.com / parth.patel@in.mpms.mufg.com Websi te: www.mpms.mufg.com Thank You Meeting Request Link Link