Sky Gold Limited reported Q3FY23 net profit of ₹11.67 crore

Mumbai : Sky Gold Limited (BSE Code: 541967), one of the leading jewellery companies based in Mumbai reported unaudited Financial Results for the Q3 FY23 & 9M FY23.

Financials at a Glance:

Q3 FY23:

• Revenues at ₹267.57 crore
• EBITDA at ₹12.28 crore; up by 73.45%
• EBITDA margin at 4.59%
• Net profit at ₹11.67 crore; up by 501.55 %
• EPS at ₹5.91

9M FY23:

• Revenues at ₹884.62 crore; up by 52.36%
• EBITDA at ₹25.37 crore; up by 7.77%
• Net profit at ₹16.90 crore; up by 20.97 %
• EPS at ₹11.66

Speaking on the occasion Mr. Mangesh Chauhan, Managing Director and Chief Financial Officer of Sky Gold Limited said – “The strong demand for our jewellery products enabled us to surpass FY22 revenues of ₹ 796 crore by reporting revenues of ₹ 885 crore in the first nine months of the current financial year. We are optimistic about demand growth and expect to close FY23 with a splendid performance.”

About Sky Gold Limited:

Established in 2008 Sky Gold Limited (The Company), is one of the leading jewellery companies based in Mumbai. The Company has been engaged in the business of Designing, Manufacturing, and Marketing gold jewellery. The Company specialised in lightweight jewellery of 22 Carat gold. The Company manufactures jewellery through casting. The Company makes Plan Gold Jewellery, Studded Gold Jewellery, and Turkish Jewellery.

The Company works on a B2B model with leading Jewellery Retailers like Malabar Gold & Diamonds, Joyalukkas, Kalyan Jewellers, GRT Jewellers, and Samco Gold. The Company also works with large wholesalers. With this Sky, Gold products are available at more than 2,000 showrooms across India.

Sky Gold manufactures its Jewellery in its 25,000 Sq Ft manufacturing facility in Mumbai India with the help of German Equipment. The Company is having capacity of processing 300 Kg of Gold per month. The Company has a design library of more than 5,00,000 designs of rings, bracelets, bangles, fancy pendants, earrings, etc.

The Company entered equity markets by SME IPO on BSE SME in October 2018 raising ₹ 25.56 Crore at an issue price of ₹ 180.

For FY22, The Company reported total Revenues of ₹ 796.26 crore and a Net Profit of ₹ 16.92 crore.