At the end Q2 FY24:
● Revenue from operations was at Rs. 395.96 crore in Q2FY24
● EBITDA stood at Rs. 16.44 crore; EBITDA Margin was 4.15%
● PAT was Rs. 7.27 crore, up 716.85% YoY; PAT Margin at 1.83%
Mumbai, 10 November 2023 – Sky Gold Ltd, one of the leading business-to-business (B2B) jewellery manufacturing and marketing companies, announced today its financial results for the quarter and six months ended September 30th 2023.
Key Financial Highlights of the Quarter (Consolidated):
|
Particulars (Rs in crores) |
Q2FY24 |
Q2FY23 |
YoY |
Q1FY24 |
QoQ |
|
Revenue from operations |
395.97 |
303.73 |
30.37% |
375.70 |
5.40% |
|
EBITDA |
16.44 |
4.77 |
244.65% |
19.11 |
-13.97% |
|
EBITDA Margin |
4.15% |
1.57% |
164.33bps |
5.01% |
-17.17 bps |
|
Profit Before Tax |
9.75 |
1.92 |
407.81% |
14.26 |
-31.63% |
|
Profit After Tax |
7.27 |
0.89 |
716.85% |
10.67 |
-31.87% |
|
PAT Margin |
1.83% |
0.29% |
154 bps |
2.83% |
-100 bps |
|
Diluted EPS (Rs.) |
6.76 |
0.83 |
714.46% |
9.93 |
-31.92% |
Commenting on the Q2FY24 performance, Sky Gold’s Chairman and Managing Director Mr. Mangesh Chauhan said, “The recently concluded quarter has proven to be a remarkable period in the history of Sky Gold’s operations, as we achieved the highest ever Q2 revenue of Rs 395.97 crore. Our earnings for the three months ended September 2023 are a testament to our strong financial performance, spanning from the top line to the bottom line. We take immense pride in reporting robust operating revenue and profitability at an operating as well as net basis, all of which underscore our continued profitability and operational efficiency.”
On Sky Gold’s future endeavours, Mr. Chauhan said, “Sky Gold’s specialization lies in the Design, Manufacturing, and Marketing of Gold Jewellery. We have seen significant demand for lightweight jewellery products. With our expertise in the light jewellery segment, we aim to make deeper penetration and further diversify our operations in the Indian retail market in the future to come. Additionally, the recent capital raised by us would provide further fillip to the organization. We would be in a position to strengthen our organisational bandwidth, expand our design offering bolster our balance sheet, and accelerate our efforts on multiple fronts.”
About Sky Gold Ltd:
Established in 2008, Sky Gold Ltd (hereinafter also referred to as Sky Gold or The Company) is a prominent jewelry company headquartered in Mumbai. Sky Gold is primarily involved in the design, manufacturing, and marketing of gold jewelry. It operates under a B2B model, primarily supplying its products to mid-range jewelers and boutique stores, which, in turn, retail these items through both online platforms and physical stores. Sky Gold specializes in 22 Karat gold jewelry, offering a diverse array of designs tailored to cater to the discerning tastes of the end consumer. Its product range encompasses a wide variety of designs, often featuring studded American diamonds and/or colored stones.
