31-Oct-2026 13:12:42
SKY GOLD & DIAMONDS Q2 CONCALL: EARLIER FY30 TARGET OF ₹18,000 CR REVENUE, ₹945 CR PAT; Q2 REVENUE UP 61%, EBITDA UP 99%
• FY30 Guidance: Earlier targets of ₹18,000 Cr revenue, ₹945 Cr PAT and net debt-free status by FY30. • PAT Margin: Historical guidance of 5–5.25%; Q2 operational PAT margin reached 5.6%. • Guidance Update: Fresh guidance paused due to SEBI-related restrictions; management may revise targets after the proposed fundraise. • Exports: Q2 exports at ₹435 Cr; annualised export run rate approximately ₹1,600 Cr. • Advanced Gold: 16% volume contribution versus earlier FY27 target of 15%, supporting margin expansion. • Diamond Jewellery: Contribution around 2.5–3%; focus on higher-margin studded jewellery. • Expansion Strategy: Focus on exports, acquisitions, lightweight jewellery and higher-value products. • Q2 Revenue: UP 61% YoY to ₹2,391 Cr. • Q2 EBITDA: UP 99% YoY to ₹189 Cr; margin at 7.9%. • Q2 PAT: UP 93% YoY to ₹129 Cr. • H1 Cash Flow: Operating cash flow improved to ₹136 Cr from ₹101 Cr outflow YoY. • Working Capital: Improved to 55 days from 63 days YoY. • Net Debt: Reduced to ₹531 Cr from ₹550 Cr in March 2026. Overall Outlook: POSITIVE — Strong exports, improving profitability and cash generation support growth; proposed fundraise and updated guidance remain key monitorables.
SKY GOLD AND DIAMONDS LTD