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Gold and Silver Prices Set to Surge in 2025- Gold Could Reach Rs 90000

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Gold prices in India surged by 21% in 2024, driven by central bank policies, geopolitical risks, and strong global demand. As of January 1, 2025, gold prices were Rs 78,000 per 10 grams for 24K, with predictions pointing towards a rise to Rs 85,000-90,000 in 2025. While gold outperformed other commodities in 2024, experts recommend a “buy-on-dips” strategy for investors, as prices may consolidate before further gains. Geopolitical tensions and central bank actions will continue to support the demand for gold and silver.

Silver also saw impressive gains in 2024, with prices expected to reach Rs 1.1-1.25 lakh per kg, fueled by industrial and investment demand. Experts like Manav Modi from Motilal Oswal Financial Services maintain a positive outlook for both metals in the medium to long term, forecasting potential price growth even amid market fluctuations. However, while Rs 1 lakh for gold is considered optimistic, extreme economic conditions could push it towards that mark.

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Sky Gold & Diamonds To Acquire Purvi Gems In Strategic Move To Drive Growth, Achieve Scale and Product Diversification

Rs 9 Crore Acquisition To Expand Lightweight & Studded Jewellery Portfolio and Boost Domestic and Export Growth

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Sky Gold & Diamonds Ltd., (Sky Gold) one of India’s leading jewellery manufacturers and exporters, has successfully completed the acquisition of 100% equity shares of  Purvi Gems & Jewellery (India) Private Limited, a company engaged in the manufacturing of uncut and precia jewellery and related products. Following the completion of the acquisition on October 7, 2026, Sky Gold is well-positioned to leverage Purvi Gems’ expertise in lightweight and studded jewellery to accelerate growth, enhance product diversification and strengthen its presence across key domestic and export markets.

The transaction is completed for a cash consideration of Rs 9 crores which represents 1.5x over its book value as of 31st Mar’26 and does not constitute a related-party transaction. Neither the promoter nor the promoter group of Sky Gold has any interest in Purvi Gems, reflecting the Company’s disciplined approach towards capital allocation and inorganic growth. The management of Purvi Gems to continue overseeing this business going forward, ensuring continuity and supporting the integration process.

Purvi Gems has built a strong position in specialised jewellery segments that continue to witness growing demand across key regions, including South India and Export market. The acquisition is expected to further enhance company’s exports while strengthening its ability to cater to evolving customer preferences in high margin studded jewellery business.

Key Strategic Benefits from Purvi Gems’ acquisition:

  • Immediate entry into the fast-growing lightweight uncut & precia jewellery segment, expanding Sky Gold’s addressable market
  • Increased exposure to the higher-margin studded jewellery category, supporting improvement in product mix and profitability
  • Potential of ~100 kg of monthly sales, enhancing scale and operational flexibility
  • Opportunity to unlock cross-selling opportunities and increase wallet share by leveraging Purvi Gems’ product portfolio across Sky Gold extensive customer network
  • Enhances export opportunity through specialised products with strong demand across key international markets, particularly the Middle East
  • Acquisition completed at book value, providing access to a business expected to generate over Rs 1,600-1,800 crore of annual revenue over the next two to three years, along with established customer relationships, specialised manufacturing capabilities, and an experienced team
  • Continues Sky Gold’s proven acquisition, which has historically contributed to enhanced scale and improved market positioning

The acquisition represents another important milestone in the company’s growth journey and is aligned with the long-term strategy of expanding its capabilities through carefully selected and strategically relevant acquisitions mainly in value added products having higher margins. Over the years, Sky Gold has successfully integrated acquired businesses to strengthen its market position, broaden its product offerings, improve operational efficiencies and create long-term value for stakeholders. The acquisition of Purvi Gems builds on this track record and further enhances the Company’s presence across high-growth jewellery categories.

Track Record of Successful Acquisitions

AcquisitionsStrategic RationalePre- Acquisition ScalePost- Acquisition Progress
Sparkling Chains Pvt. Ltd.Entry into the fast-moving chains segment; broaden product portfolioTurnover: ₹201 crore as on 31st March 2024 PAT: ₹0.1 croreTurnover: ₹760 crore as on 31st March 2026 PAT: ₹22.3 crore
Starmangalsutra Pvt. Ltd.Entry into the mangalsutra segment; broaden product portfolioTurnover :- ₹171 crore as on 31st March 2024 PAT :- ₹0.07 croreTurnover: ₹622 crore as on 31st March 2026 PAT: ₹22.9 crore
Speed Bangles Pvt. Ltd. (Erstwhile Ganna N Gold Pvt. Ltd.) (Revenues mainly on job work basis)Entry into specialised lightweight bangle manufacturing; broaden product portfolioTurnover: ₹0.87 crore as on 31st March 2025 PAT: ₹0.07 croreTurnover: ₹42 crore as on 31st March 2026 PAT: ₹16.6 crore (Acquired in Aug’25)
Shri Rishabh Gold (Revenues mainly on job work basis)Strengthen capabilities and expand customer baseTurnover: ₹49 crore as on 31st March 2025 PAT: ₹1.60 croreTurnover: ₹175 crore as on 31st March 2026 PAT: ₹18.8 crore (Acquired in Dec’25)

Commenting on the development, Mangesh Chauhan, Managing Director, Sky Gold & Diamonds Ltd., said:

“Strategic acquisitions have been an important driver of Sky Gold’s growth and value creation journey. Our disciplined approach to identifying and integrating businesses has helped us expand capabilities, diversify our product portfolio, improve operating efficiencies and strengthen profitability. Past acquisitions have contributed meaningfully to our scale and growth while creating long-term value for stakeholders. The acquisition of Purvi Gems is another step in this direction. The business brings complementary capabilities in the lightweight uncut and studded jewellery segments, an established customer base and a skilled team.

Given our proven track record of successfully integrating acquisitions and realizing operational synergies, we are confident that Purvi Gems will further strengthen our growth platform and support sustainable long-term value creation.”

Commenting on the development, Jigar Mehta, Director Purvi Gems & Jewellery (India) Pvt. Ltd., said:

“Over the last fifteen years, we have built a strong reputation in lightweight, uncut, and Precia jewellery through our commitment to quality, craftsmanship, and customer relationships. We believe Sky Gold’s scale, manufacturing capabilities, extensive customer network, and proven track record of integrating and growing acquired businesses provide the ideal platform for the next phase of our growth.”

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