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Sky Gold profit jumps 82% to Rs 67 Cr in Q2

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Sky Gold
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 Sky Gold and Diamond Ltd  on Thursday reported an 82.48 per cent jump in consolidated net profit to Rs 66.99 crore in the September quarter on higher sales.The company had posted a net profit of Rs 36.71 crore in the same quarter a year ago, according to a regulatory filing.

Total income increased to Rs 1,492.45 crore during the quarter, from Rs 788.59 crore in the year ago period. Expenses remained higher at Rs 1,404.55 crore as against Rs 742.41 crore in the said period.

EBITDA for the quarter stood at Rs 99.9 crore, against Rs 38.8 crore in the same period last year, an increase of 157.5 percent year on year. EBITDA margin improved to 6.73 percent in Q2 FY26 from 5.1 percent in Q2 FY25, a gain of 163 basis points. On a quarter-on-quarter basis, EBITDA margin also rose from 6.3 percent, expanding by 43 basis points, indicating better operating efficiency and an improving product and customer mix. Profit after tax (PAT) for Q2 FY26 came in at Rs 66.99 crore, compared to Rs 36.78 crore in Q2 FY25, an increase of 82.6 percent. PAT also improved from Rs 43.65 crore in Q1 FY26, marking a growth of 53.7 percent quarter on quarter.

Mangesh Chauhan

Mangesh Chauhan, MD, Sky Gold and Diamonds Ltd 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 advanced-gold contracts, and optimising working capital to ensure that growth is also quality-accretive. “

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National News

Gold & Precious Metals – A future outlook

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The session saw a power packed panel of experts that comprisedSurendra Mehta, National Secretary-  IBJA,Ranjith Singh,Head of Business Development, IIBX, Shweta Dhanak, Director – Vijay Exports,S Thirupathi Rajan, MD Goldsmith Academy, Shivanshu Mehta, SVP & Head Bullion-MCX.The session was moderated by Chirag Seth, Principal Consultant, Metals Focus.

Some salient points made by the panelists:

  • Gold prices are not linked to consumer demand. They are linked to central bank buying and ETFs
  • Till the banking system doesn’t collapse, gold price will continue to rise
  • Jewellers were advised to use a mix of futures and options for risk mitigation
  • Given the current situation manufacturers selling on credit or unfavorable deals could be fatal flaw for business.
  • Precious metals forecast: Surendra Mehta said he sees gold in 2026 in $4900-5100 range and silver in $90-105.Looking further he said by 2030-2035 gold could touch $18000- 20000 and silver could reach $500. Chirag Seth predicted silver touching $105 this year and gold moving in the $ 5200- $ 5500.

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