In Week of Mar 28, 2026, Sky Gold & Diamonds Ltd (Diamond, Gems & Jewellery) is outperforming Nifty 500 with +10.3% relative strength. Fundamentals: Strong. On a 7-week streak.
Weekly presence in the outperformers list. Green = beating Nifty 500 by 10%+ that week.
Based on Q3 FY26 earnings • Updated Feb 22, 2026
What: 18KT jewelry now at 19-20% of revenue contributing to 230 bps gross margin improvement YoY
“Gross margin improved to 8.27% YTD from 5.97% in FY24, driven by value-added products”
What: Advanced gold business at 12% volume share with no capital employed, targeting working capital cycle below 60 days
“Working capital days improved from 66 to 63, with target below 60 by end of FY26”
What: 2,500 new stores from major brands in 18 months driving 30-35% revenue CAGR
“Management targeting 350 crore in 3-4 quarters through existing client wallet share growth”
Earnings deceleration risks from management commentary
Trigger: Significant gold price increases
Management view: If gold price shoots up, volume sales decrease; if prices drop, volume growth increases - vice versa
Monitor: Gold price volatility
Trigger: Inability to balance growth with cash flow generation
Management view: Focus on cash flow neutrality by March 2026 and positive cash flows in subsequent year
Monitor: Working capital cycle and cash conversion
Key quotes from recent conference calls
“Our gross margin improvement has been mainly on account of gold loss reduction. Increase in advanced gold business, increase in 18 karat studded jewelry business having better margin. — Mangesh Chauhan”
“First, advance gold carry no capital employed. Secondly, export and distributor segments also operate on spot payments or receivable under 10 days. As these categories expand, working capital intensity will decline further enhancing efficiency and resilience across the business. — Mangesh Chauhan”
“We have each and every customer. So we have to just keep on going. Our wallet share. The sales are coming in the existing wallet share is increasing and new stores are coming. You can say 2,500 stores new coming of the all the brands in 18 months. — Mangesh Chauhan”
“We are looking at revenue of 18,000 to 19,000 crores, PAT of 5.2 crore plus OCF to EBITDA of close to 20% and achieving net debt free position by 2030. — Mangesh Chauhan”
Forward-looking targets from management for FY27-FY30
Revenue Growth Target
30%
OPM Guidance
8.27%
Key Milestones
• Revenue of ₹18,000-19,000 cr by 2030
• PAT of 5.2%+ margin
• Net debt-free by 2030
• Working capital cycle below 60 days
Revenue, profit and margin growth rates
| Metric | YoY | 3Y CAGR | Trend |
|---|---|---|---|
| Revenue | +77% | +65% | Stable |
| PAT (Net Profit) | +119% | +80% | Stable |
| OPM | 7.0% | +100 bps | Expanding |
The above analysis is parsed from publicly available earnings call transcripts. This is educational research only — not investment advice. Last updated Feb 22, 2026.
Based on publicly available financial data. This is educational research, not investment advice.
Sky Gold & Diamonds Ltd's latest quarterly results (Dec 2025) show
Sky Gold & Diamonds Ltd's profit is growing with an stable trend.
Sky Gold & Diamonds Ltd's revenue growth trend is stable.
Sky Gold & Diamonds Ltd's operating margin is expanding.
Sky Gold & Diamonds Ltd's long-term compounding rates
Sky Gold & Diamonds Ltd's earnings growth is stable with positive momentum on a sequential basis.
Sky Gold & Diamonds Ltd's trailing twelve month (TTM) performance
Sky Gold & Diamonds Ltd appears significantly undervalued based on our fair value analysis.
Sky Gold & Diamonds Ltd's current PE ratio is 22.2x.
Sky Gold & Diamonds Ltd's current PE is 22.2x.
Sky Gold & Diamonds Ltd's price-to-book ratio is 4.9x.
Sky Gold & Diamonds Ltd is rated Strong with a fundamental score of 64/100. This score is calculated from objective financial metrics
Sky Gold & Diamonds Ltd has a debt-to-equity ratio of N/A.
Sky Gold & Diamonds Ltd's return ratios over recent years
Sky Gold & Diamonds Ltd's operating cash flow is negative (FY2025).
Sky Gold & Diamonds Ltd currently does not pay a significant dividend (yield 0.00%).
Sky Gold & Diamonds Ltd's shareholding pattern (Dec 2025)
Sky Gold & Diamonds Ltd's promoter holding has remained stable recently.
Sky Gold & Diamonds Ltd has been outperforming Nifty 500 for 7 consecutive weeks, indicating building momentum.
Sky Gold & Diamonds Ltd is an established outperformer with 7 weeks of consecutive Nifty 500 outperformance.
Sky Gold & Diamonds Ltd has 3 key growth catalysts identified from recent earnings analysis
Sky Gold & Diamonds Ltd has 2 key risks worth monitoring
In Q3 FY26, Sky Gold & Diamonds Ltd's management highlighted
Sky Gold & Diamonds Ltd's management has provided the following forward guidance for FY27-FY30
Based on quantitative research signals, here is why Sky Gold & Diamonds Ltd may be worth studying
Sky Gold & Diamonds Ltd investment thesis summary:
Sky Gold & Diamonds Ltd's forward outlook based on current data signals
The above FAQs are generated from publicly available earnings data and conference call transcripts. This is educational research only. Sector Alpha is not SEBI registered and does not provide investment advice.
