Sky Gold & Diamonds Ltd
SKYGOLDSky Gold & Diamonds Ltd is printing record margins on a fuller multiple. From here the earnings must do all the lifting.
The sharpest disagreement: profits are rising, but only −105% of the last 3 years' profit arrived as operating cash — the gap between the P&L and the bank account is the thing to watch.
The price is in a confirmed uptrend (38 weeks in) while the P/E sits at the 61st percentile of its own 4-year range. Underneath, the last four quarters read improving — profit +139.5% year on year, and −105% of the last 3 years' profit arrived as cash. What settles it: whether the cash starts following the profit.
Price story Before the numbers, the tape. A stock price moves through four repeating seasons: a flat base (stage 1), an advance (2), a top (3), a decline (4). Where the price sits in that cycle frames everything below.
Sky Gold & Diamonds Ltd trades at ₹645, in a confirmed uptrend and 38 weeks into that stage. That is +46.0% against its own 200-day average. It sits at 98% of a 52-week range of ₹273 to ₹651. On relative strength it has been ahead of the NIFTY 500 on a trailing-13-week view for 5 straight weeks.
Today the stock is in a confirmed uptrend — week 38 of stage 2, confirmed. At ₹645 it trades +46.0% versus its 200-day average and sits at 98% of its 52-week range (₹273–₹651).
Against the market, two honest reads. Cumulative: over the last 7.8 years the stock moved +7,030% while the NIFTY 500 moved +168% — ahead of the index over the full window. Recent form: on a trailing-13-week view the stock has been ahead for 5 straight weeks — the ribbon below is that same metric, week by week.
What would end the trend, mechanically: two Friday closes in a row below the 200-day line. That is the exit rule — no debates.
Valuation P/E is the price of ₹1 of annual profit: how many rupees the market pays for each rupee the company earns in a year.
Sky Gold & Diamonds Ltd trades at 36.2× P/E, mid-range by its own standards (61st percentile). Its long-run median P/E is 32.6×, measured across 3.5 years of weekly readings. This places the multiple against the stock’s own record, and says nothing about what the business is worth.
Today's P/E of 36.2× is mid-range by its own standards (61st percentile), against a long-run median of 32.6× measured over 3.5 years of weekly readings. This is a comparison against the stock's own history — not a claim about what it is worth.
🚨 Why the multiple sits where it does: over the past year annual EPS moved +96.7% against a +134.7% price move — the price outran earnings, pushing the multiple UP its own range.
The price move, decomposed: over 3y, of the +187.9%/yr price move, ~+117.5%/yr came from earnings growth and ~+70.4 pp from the multiple (expanding). The split is the honest approximate (price return minus earnings growth); it makes the rally itself visible instead of hiding it behind the percentile.
Put together: the multiple is unremarkable against its own past, so the story rests on the earnings line underneath it, not the multiple.
Stage: Mixed Every business sits somewhere on a fundamental arc, and this page names the spot before anything else. The last twelve quarters of revenue, profit and EPS growth — plus the return the business earns on its capital — are read as curves: Deteriorating (the curves are falling), Turning around (a trough has just formed and the last few quarters lift off it), Improving (the climb off the trough is sustained), Consistent (steadily positive with healthy returns), Topping out (still high but decelerating from the peak). When the curves genuinely disagree the read is Mixed; too little history is No read. CAGR (compound annual growth rate) is the smooth yearly pace that turns the starting value into the latest one — the fairest way to compare growth across different time spans. Read the columns together: if the 1-year number towers over the 10-year, recent growth is running hotter than the long-run trend. A dash means that window is not held, or the base year was a loss (where a growth rate is not meaningful).
Sky Gold & Diamonds Ltd reads as mixed on its fundamental arc. Mixed — growth is normalizing off a hyper-growth base: revenue growth has eased from +99.9% at its peak to +77.4% but is still expanding, ROCE lifting at 27.0%. The read is built from 11 quarters across 4 curves, on partial evidence.
Why it matters: when the curves disagree, the per-curve reads above matter more than any single verdict.
Return readings here are annual, not quarterly — read as level and direction only; they can confirm the growth curves but never drive the stage on their own.
A partial read: at least one curve is short, or the returns curve is not the computed quarterly series — hold the stage word a little more loosely.
| 1yr | 3yr | 5yr | 10yr | |
|---|---|---|---|---|
| Revenue | +77.4% | +76.0% | +51.2% | +42.4% |
| Profit | +112.0% | +145.8% | +124.0% | +75.8% |
| EPS | +96.7% | +117.4% | +108.6% | +43.8% |
| Share price | +134.7% | +187.9% | +133.7% | — |
4-Factor Sector Score
68.7/100 — rank 4 of 26 in Diamond, Gems & Jewellery · 93% evidence confidence
Sky Gold & Diamonds Ltd scores 68.7 out of 100 against the 26 companies it is compared with in Diamond, Gems & Jewellery, ranking 4. Confirmed research leader: earnings, capital efficiency and relative strength agree. Move to management, catalyst and risk diligence.
The four contributions add to the total exactly: 26 + 16.7 + 8 + 18 = 68.7. This is the SAME number shown on the sector comparison — it is computed once, for the whole peer set, and read here.
What would change it: The read weakens if profit growth turns negative or margin improvement reverses while sector-relative strength deteriorates.
Revenue Revenue is the top line: everything the company billed its customers in the period.
Sky Gold & Diamonds Ltd reported ₹1,912 Cr of revenue in the Mar 26 quarter, +80.7% year on year. That is the 12th straight quarter of year-on-year growth. Over 10 years it has compounded at 42.4% a year. The last full year, FY26, came in at ₹6,295 Cr. The last four reported quarters add to ₹6,295 Cr.
FY26 revenue came in at ₹6,295 Cr (+77.4% on the year), capping 10 years at 42.4% compound. The latest quarter (Mar 26) printed ₹1,912 Cr, +80.7% year on year — the 12th consecutive quarter of year-over-year growth.
Pace check: the last four quarters averaged +76.8% growth against the decade's 42.4% — the current year is running faster than its own long-run rate.
Acceleration check: trailing-twelve-month revenue grew +77.4% over the last 4 quarters against +89.9%/yr over the last 8 — rolling over; TTM profit +112.8% vs +162.7%/yr — rolling over.
Operating margin Operating margin is what is left of every ₹100 of sales after running the business, before interest and tax. It is the cleanest read on pricing power and cost control.
Sky Gold & Diamonds Ltd's operating margin is 7.0% in the Mar 26 quarter, +1.0 percentage points against the same quarter a year ago. That is the widest this company has ever printed on a full-year basis. Across 12 fiscal years the operating margin has ranged 1.0% to 7.0%. The current quarter sits inside that band.
The latest quarter's operating margin is 7.0%, +1.0 pp against the same quarter a year ago. Across 12 fiscal years the operating margin has ranged 1.0%–7.0%, and FY26's 7.0% is the top of that band — a record year.
Why the margin moved: operating margin went +1.4 pp year on year while gross margin went +1.1 pp — the gain came mostly from the gross line: input costs and pricing.
Worth repeating from the valuation section: cheap against its own history on record margins is not the same thing as cheap — a record margin flatters every ratio built on top of it.
Net profit Net profit is what survives every cost, interest and tax — the number EPS, dividends and book value all grow from.
Sky Gold & Diamonds Ltd earned ₹91.0 Cr of net profit in the Mar 26 quarter, +139.5% year on year. It is the 12th consecutive quarter of growth. Full-year FY26 profit was ₹282 Cr. The 10-year compound rate is 75.8%. That is 4.8% of the quarter's revenue. The same quarter a year earlier earned ₹38.0 Cr.
Mar 26 profit was ₹91.0 Cr, +139.5% year on year — the 12th consecutive quarter of growth. On the full year, FY26 printed ₹282 Cr (+112.0%), and the 10-year compound rate is 75.8%.
Why profit moved: revenue contributed +80.7% and the margin +1.0 pp — the quarter was revenue-led, with the margin roughly flat.
Pace comparison, last four quarters: profit +112.3% vs revenue +76.8%. Profit is growing faster than sales — fixed costs are being spread over a bigger base, and each extra rupee of revenue drops more to the bottom line.
Cash flow — the router The P&L says what was earned; the cash-flow statement says what actually arrived. Operating cash flow (CFO) against profit is the cleanest lie detector in the accounts.
Over the last 3 fiscal years −105% of Sky Gold & Diamonds Ltd's reported profit arrived as operating cash — a gap worth watching. In FY26 that was ₹−45.0 Cr of operating cash against ₹282 Cr of profit. After ₹282 Cr of capital spending, ₹−327 Cr was left as free cash.
FY26: operating cash of ₹−45.0 Cr against reported profit of ₹282 Cr, leaving free cash of ₹−327 Cr after ₹282 Cr of capital spending. Across the last 3 fiscal years the conversion rate is −105% of profit.
Cash-flow readings here are annual — that is the resolution our series carries, so this section moves once a year.
🚨 Why conversion sits at −105%: the cash cycle stretched 34 days between FY21 and FY26 — more of each rupee of profit waits inside the cycle before arriving. Less than 70% of profit arriving as cash is the thing to watch on this page.
Router verdict: conversion is below par and the cash cycle has stretched 34 days — the next section's job is to find where the cash is stuck.
Where the cash goes Working capital is the cash tied up between paying suppliers and getting paid: debtor days (customers owe), inventory days (stock waits), and the cash conversion cycle (the whole loop, in days of sales).
Sky Gold & Diamonds Ltd's cash conversion cycle runs 77 days in FY26, up from 43 days in FY21. Capital spending ran ₹397 Cr over the last 3 years. At FY26 sales of ₹6,295 Cr each day of that cycle holds about ₹17.2 Cr, so roughly ₹1,328 Cr sits inside the business at any moment.
FY26: debtors at 33 days, inventory at 50 days — roughly 1.6 months of stock waiting to sell; that is where the cash sits while it waits — for a full cycle of 77 days, looser than FY21's 43.
The full loop: cash goes out to suppliers and production on day 0; stock waits 50 days to sell; customers pay about 33 days after that; and suppliers themselves are paid at 6 days — netting out to the 77-day cycle.
In money terms: at FY26 sales of ₹6,295 Cr, each day of the cycle holds about ₹17.2 Cr — so the 77-day loop keeps roughly ₹1,328 Cr sitting inside the business at any moment.
On the investment side: capital spending of ₹397 Cr over the last 3 fiscal years against ₹30.0 Cr of depreciation — the company is building well ahead of wear-and-tear. Capital work-in-progress stands at ₹0.0 Cr (FY26) — capacity paid for but not yet earning.
The synthesis: the working-capital loop is the cash sink the router flagged — watch the cycle, not the P&L.
Return on capital Return on capital employed (ROCE) is the profit the whole business earns on all the money in it — equity and debt together. It is the single best test of whether growth creates value or just size.
Sky Gold & Diamonds Ltd earns a ROCE of 27% in FY26. That is up from a trough of 9% in FY21. Return on invested capital clears the cost of that capital by +9.6 percentage points, so growth here adds value rather than only size. The wiring behind it is 4.5% net margin on 2.87× asset turns.
FY26 ROCE is 27%, recovered from a FY21 trough of 9% — the full ladder below shows the fall and the climb, undoctored.
Why the return is what it is — the wiring (FY26): 4.5% net margin × 2.87× asset turns × 1.83× balance-sheet leverage ≈ 23.6% on equity. Margin does its share; leverage is a meaningful part of the equation.
The capstone test — ROIC − WACC: 21.6% − 12.0% = a +9.6 pp spread. The 12.0% is a standing assumption for the cost of capital in India, not a per-stock estimate — read the sign and the size of the spread, not the decimals. A spread this wide means every rupee reinvested creates more than a rupee of value — the engine compounds.
Debt Debt-to-equity says how much of the business is funded by borrowings. Low is the safe corner; the trend matters as much as the level.
Sky Gold & Diamonds Ltd carries total debt of ₹869 Cr against shareholder equity of ₹1,206 Cr as of Mar 26, a debt-to-equity of 0.72. On the annual view that ratio went from 1.19 in FY22 to 0.72 in FY26. Read the returns elsewhere on this page with that leverage in mind.
Mar 26: total debt of ₹869 Cr against shareholder equity of ₹1,206 Cr — a debt-to-equity of 0.72. On the annual view, debt-to-equity went from 1.19 (FY22) to 0.72 (FY26). Read the returns on this page with that leverage in mind.
Ownership Who owns the stock, quarter by quarter: promoters (the controlling owners), foreign and domestic institutions, and the public. Steady accumulation by people close to the numbers is a signal; a quiet register is also an answer.
Domestic institutions added 14.2 points of Sky Gold & Diamonds Ltd over 8 quarters, the biggest move on the register. That takes domestic institutions to 14.2% of the company. Promoters moved −9.6 points over the same window, to 51.7%. The register is read on the four disclosed classes only; nothing is inferred between filings.
The register over the last two years — Domestic institutions: +14.2 points over 8 quarters to 14.2%; Promoters: −9.6 points over 8 quarters to 51.7%; Foreign institutions: +2.7 points over 8 quarters to 2.8%.
Why the register moved: domestic institutions drove it (+14.2 points), absorbed on the other side by promoters (−9.6 points) — steady accumulation by institutions reading the same numbers this page reads.
Safety line The Z-score estimates how far a company sits from balance-sheet distress — above roughly 3 is safe, below roughly 1.8 is the danger zone. It was built for manufacturers, so it is not applied to banks and lenders.
Sky Gold & Diamonds Ltd: the Z-score is not available for this stock, so we say so rather than invent one. It is a distance-to-distress estimate from the balance sheet, not a forecast of failure. The debt, cash-flow and return sections above carry the balance-sheet evidence this page does hold, and each of them states its own reporting date.
The safety line in one sentence: the Z-score is not available for this stock, so we say so rather than invent one.
| Company | Score | Price stage | Growth & earnings/35 | Capital efficiency/25 | Valuation/20 | Relative strength/20 |
|---|---|---|---|---|---|---|
| 1Tribhovandas Bhimji Zaveri LtdTBZ | 77.9/100Favorable setup83% evidence | BREAKING OUT | 28.0/35 Revenue 22.3% · PAT 100% · OPM change 7 pp 83% evidence | 17.6/25 ROCE 21.4% · OPM 14% 95% evidence | 13.9/20 P/E 9.1× · PEG — 50% evidence | 18.4/20 RS sector 30.1% · RS bench 57.6% · 1Y 46.1%10 of 12 weeks ahead 100% evidence |
| Exact sum: 28 + 17.6 + 13.9 + 18.4 = 77.9 · Decision use: Confirmed research leader: earnings, capital efficiency and relative strength agree. Move to management, catalyst and risk diligence. | ||||||
| 2Khazanchi Jewellers Ltd543953 | 72.3/100Favorable setup72% evidence | TURNING | 26.5/35 Revenue 15.7% · PAT 100% · OPM change 3.9 pp 83% evidence | 18.5/25 ROCE 34.8% · OPM 7% 76% evidence | 13.5/20 P/E 20× · PEG — 50% evidence | 13.8/20 RS sector 13.2% · RS bench 5.2% · 1Y 20%1 of 10 weeks ahead 70% evidence |
| Exact sum: 26.5 + 18.5 + 13.5 + 13.8 = 72.3 · Decision use: Confirmed research leader: earnings, capital efficiency and relative strength agree. Move to management, catalyst and risk diligence. | ||||||
| 3Senco Gold LtdSENCO | 71.3/100Favorable setup90% evidence | TURNING | 28.8/35 Revenue 33.2% · PAT 100% · OPM change 5 pp 88% evidence | 15.3/25 ROCE 20.9% · OPM 14% 100% evidence | 15.1/20 P/E 11.5× · PEG 1.35 100% evidence | 12.1/20 RS sector -1.1% · RS bench 18.8% · 1Y 18.6%9 of 11 weeks ahead 70% evidence |
| Exact sum: 28.8 + 15.3 + 15.1 + 12.1 = 71.3 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 4Sky Gold & Diamonds Ltdthis pageSKYGOLD | 68.7/100Favorable setup93% evidence | LEADER | 26.0/35 Revenue 77.4% · PAT 100% · OPM change 1 pp 83% evidence | 16.7/25 ROCE 27% · OPM 7% 95% evidence | 8.0/20 P/E 36.2× · PEG 1.71 100% evidence | 18.0/20 RS sector 35.8% · RS bench 63.5% · 1Y 113.7%12 of 12 weeks ahead 100% evidence |
| Exact sum: 26 + 16.7 + 8 + 18 = 68.7 · Decision use: Confirmed research leader: earnings, capital efficiency and relative strength agree. Move to management, catalyst and risk diligence. | ||||||
| 5Utssav CZ Gold Jewels LtdUTSSAV | 67.1/100Thin evidence · provisional56% evidence | LEADER | 19.6/35 Revenue — · PAT — · OPM change 0 pp 26% evidence | 17.9/25 ROCE 28.8% · OPM 7% 95% evidence | 9.7/20 P/E 21.2× · PEG — 15% evidence | 19.9/20 RS sector 65.4% · RS bench 98% · 1Y 136%12 of 12 weeks ahead 100% evidence |
| Exact sum: 19.6 + 17.9 + 9.7 + 19.9 = 67.1 · Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral. | ||||||
| 6Thangamayil Jewellery LtdTHANGAMAYL | 62.7/100Mixed-positive evidence100% evidence | LEADER | 26.9/35 Revenue 83.2% · PAT 100% · OPM change -1 pp 100% evidence | 13.3/25 ROCE 25.5% · OPM 5% 100% evidence | 9.8/20 P/E 41.4× · PEG 0.77 100% evidence | 12.7/20 RS sector 18.4% · RS bench 42.3% · 1Y 185%11 of 12 weeks ahead 100% evidence |
| Exact sum: 26.9 + 13.3 + 9.8 + 12.7 = 62.7 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 7Shanti Gold International LtdSHANTIGOLD | 61.0/100Mixed-positive evidence70% evidence | TURNING | 22.3/35 Revenue 82.5% · PAT 100% · OPM change 3 pp 83% evidence | 20.1/25 ROCE 33.5% · OPM 10% 95% evidence | 11.1/20 P/E 11.2× · PEG — 15% evidence | 7.5/20 RS sector -16.8% · RS bench 1.5% · 1Y -5.2%9 of 12 weeks ahead 70% evidence |
| Exact sum: 22.3 + 20.1 + 11.1 + 7.5 = 61 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 8Kalyan Jewellers India LtdKALYANKJIL | 57.7/100Mixed-positive evidence96% evidence | TURNING | 23.8/35 Revenue 42.7% · PAT 89% · OPM change 1 pp 88% evidence | 11.4/25 ROCE 20.5% · OPM 7% 100% evidence | 5.6/20 P/E 45.9× · PEG 2.19 100% evidence | 16.9/20 RS sector 9.7% · RS bench 33.5% · 1Y 3.1%3 of 12 weeks ahead 100% evidence |
| Exact sum: 23.8 + 11.4 + 5.6 + 16.9 = 57.7 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 9Vaibhav Global LtdVAIBHAVGBL | 57.7/100Mixed-positive evidence90% evidence | TURNING | 18.2/35 Revenue 9.3% · PAT 74.5% · OPM change 2 pp 88% evidence | 13.2/25 ROCE 16.4% · OPM 9% 100% evidence | 16.6/20 P/E 16.6× · PEG 0.33 100% evidence | 9.7/20 RS sector -6.5% · RS bench 14.1% · 1Y 14.4%5 of 10 weeks ahead 70% evidence |
| Exact sum: 18.2 + 13.2 + 16.6 + 9.7 = 57.7 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 10Uday Jewellery Industries Ltd539518 | 57.1/100Mixed-positive evidence78% evidence | 27.6/35 Revenue 100% · PAT 100% · OPM change 3 pp 83% evidence | 14.6/25 ROCE 22.4% · OPM 7% 76% evidence | 12.1/20 P/E 13.7× · PEG — 50% evidence | 2.8/20 RS sector -19.1% · RS bench -3.8% · 1Y -4.7%9 of 10 weeks ahead 100% evidence | |
| Exact sum: 27.6 + 14.6 + 12.1 + 2.8 = 57.1 · Decision use: Acceleration candidate, not a confirmed leader: earnings are strong but sector-relative strength is -19.1% and the one-year return is -4.7%. Do not upgrade until sector-relative strength is above zero and another reported period confirms growth. | ||||||
| 11RBZ Jewellers LtdRBZJEWEL | 55.6/100Mixed-positive evidence83% evidence | TURNING | 19.1/35 Revenue 20% · PAT 41% · OPM change 0 pp 83% evidence | 14.9/25 ROCE 21.8% · OPM 11% 95% evidence | 13.8/20 P/E 10.9× · PEG — 50% evidence | 7.8/20 RS sector -12.3% · RS bench 6.9% · 1Y 9.7%6 of 12 weeks ahead 100% evidence |
| Exact sum: 19.1 + 14.9 + 13.8 + 7.8 = 55.6 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 12P N Gadgil Jewellers LtdPNGJL | 54.4/100Mixed-positive evidence93% evidence | TURNING | 26.1/35 Revenue 47.8% · PAT 76.6% · OPM change 2 pp 100% evidence | 12.6/25 ROCE 20.9% · OPM 8% 100% evidence | 8.6/20 P/E 20.3× · PEG 1.77 65% evidence | 7.1/20 RS sector -9.8% · RS bench 10.1% · 1Y 15.2%0 of 12 weeks ahead 100% evidence |
| Exact sum: 26.1 + 12.6 + 8.6 + 7.1 = 54.4 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 13Shringar House of Mangalsutra LtdSHRINGARMS | 53.2/100Thin evidence · provisional56% evidence | BREAKING OUT | 17.3/35 Revenue 57.2% · PAT 90.2% · OPM change -1 pp 83% evidence | 15.8/25 ROCE 26.8% · OPM 6% 95% evidence | 10.1/20 P/E 18.6× · PEG — 15% evidence | 10.0/20 RS sector — · RS bench — · 1Y —6 of 12 weeks ahead 0% evidence |
| Exact sum: 17.3 + 15.8 + 10.1 + 10 = 53.2 · Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral. | ||||||
| 14Titan Company LtdTITAN | 51.8/100Mixed-positive evidence96% evidence | TURNING | 19.1/35 Revenue 44.9% · PAT 52% · OPM change -3 pp 88% evidence | 14.9/25 ROCE 20.5% · OPM 7% 100% evidence | 8.5/20 P/E 84× · PEG 1.43 100% evidence | 9.3/20 RS sector -2.6% · RS bench 18.6% · 1Y 40.9%1 of 12 weeks ahead 100% evidence |
| Exact sum: 19.1 + 14.9 + 8.5 + 9.3 = 51.8 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 15Golkunda Diamonds & Jewellery Ltd523676 | 51.7/100Thin evidence · provisional57% evidence | 13.3/35 Revenue 1.3% · PAT -12.4% · OPM change -0.8 pp 53% evidence | 13.4/25 ROCE 19.9% · OPM 9.7% 57% evidence | 8.9/20 P/E 16× · PEG — 50% evidence | 16.1/20 RS sector 61.7% · RS bench 52.8% · 1Y 53.4%9 of 12 weeks ahead to 2026-03-29 70% evidence | |
| Exact sum: 13.3 + 13.4 + 8.9 + 16.1 = 51.7 · Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral. | ||||||
| 16D.P. Abhushan LtdDPABHUSHAN | 50.9/100Mixed-positive evidence100% evidence | TURNING | 21.3/35 Revenue 9.4% · PAT 79.6% · OPM change 0.7 pp 100% evidence | 15.3/25 ROCE 24.4% · OPM 10.7% 100% evidence | 4.7/20 P/E 74.2× · PEG 1.87 100% evidence | 9.6/20 RS sector -16.9% · RS bench 1.6% · 1Y -21.5%3 of 12 weeks ahead 100% evidence |
| Exact sum: 21.3 + 15.3 + 4.7 + 9.6 = 50.9 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 17PNGS Gargi Fashion Jewellery Ltd543709 | 47.4/100Mixed-negative evidence76% evidence | ASLEEP | 8.4/35 Revenue 18.3% · PAT 8.7% · OPM change -3.5 pp 95% evidence | 20.7/25 ROCE 33.8% · OPM 19.8% 76% evidence | 10.7/20 P/E 21.2× · PEG — 50% evidence | 7.6/20 RS sector -2.3% · RS bench -30.5% · 1Y -27.9%1 of 10 weeks ahead 70% evidence |
| Exact sum: 8.4 + 20.7 + 10.7 + 7.6 = 47.4 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 18Bluestone Jewellery & Lifestyle LtdBLUESTONE | 46.4/100Thin evidence · provisional54% evidence | TURNING | 23.5/35 Revenue 40% · PAT 100% · OPM change 3.4 pp 74% evidence | 4.4/25 ROCE 7.1% · OPM 14.5% 100% evidence | 8.5/20 P/E 221× · PEG — 15% evidence | 10.0/20 RS sector — · RS bench — · 1Y 49.4%7 of 10 weeks ahead 0% evidence |
| Exact sum: 23.5 + 4.4 + 8.5 + 10 = 46.4 · Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral. | ||||||
| 19PC Jeweller LtdPCJEWELLER | 43.3/100Mixed-negative evidence90% evidence | ASLEEP | 14.5/35 Revenue 49.4% · PAT 23.7% · OPM change -3 pp 88% evidence | 8.2/25 ROCE 9.6% · OPM 18% 100% evidence | 16.2/20 P/E 12.6× · PEG 0.26 100% evidence | 4.4/20 RS sector -22.2% · RS bench -12.7% · 1Y -36.4%1 of 11 weeks ahead 70% evidence |
| Exact sum: 14.5 + 8.2 + 16.2 + 4.4 = 43.3 · Decision use: Cheap but unconfirmed: require improving earnings before treating the valuation as an opportunity. | ||||||
| 20Radhika Jeweltech LtdRADHIKAJWE | 43.3/100Mixed-negative evidence83% evidence | TURNING | 11.6/35 Revenue 8.7% · PAT 30% · OPM change -6.7 pp 83% evidence | 14.3/25 ROCE 25.1% · OPM 5.7% 95% evidence | 10.7/20 P/E 11.3× · PEG — 50% evidence | 6.7/20 RS sector -20.8% · RS bench -3.1% · 1Y -27.2%1 of 12 weeks ahead 100% evidence |
| Exact sum: 11.6 + 14.3 + 10.7 + 6.7 = 43.3 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 21Motisons Jewellers LtdMOTISONS | 42.0/100Mixed-negative evidence83% evidence | FADING | 13.4/35 Revenue 5.9% · PAT 47.6% · OPM change -9.4 pp 83% evidence | 12.8/25 ROCE 17.9% · OPM 6.1% 95% evidence | 11.8/20 P/E 25.3× · PEG — 50% evidence | 4.0/20 RS sector -24.3% · RS bench -7.5% · 1Y -33.4%2 of 12 weeks ahead 100% evidence |
| Exact sum: 13.4 + 12.8 + 11.8 + 4 = 42 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 22Manoj Vaibhav Gems N Jewellers LtdMVGJL | 40.1/100Mixed-negative evidence83% evidence | ASLEEP | 12.6/35 Revenue 15.1% · PAT 13.9% · OPM change -1 pp 83% evidence | 10.1/25 ROCE 15.6% · OPM 5% 95% evidence | 14.1/20 P/E 7.1× · PEG — 50% evidence | 3.3/20 RS sector -22.3% · RS bench -5% · 1Y -22.3%1 of 12 weeks ahead 100% evidence |
| Exact sum: 12.6 + 10.1 + 14.1 + 3.3 = 40.1 · Decision use: Cheap but unconfirmed: require improving earnings before treating the valuation as an opportunity. | ||||||
| 23Asian Star Company LtdASTAR | 27.8/100Adverse evidence75% evidence | ASLEEP | 12.0/35 Revenue -2.5% · PAT -2.5% · OPM change 0.2 pp 62% evidence | 7.2/25 ROCE 3.6% · OPM 0.8% 95% evidence | 6.8/20 P/E 23.6× · PEG — 50% evidence | 1.8/20 RS sector -27.2% · RS bench -10.9% · 1Y -21%2 of 12 weeks ahead 100% evidence |
| Exact sum: 12 + 7.2 + 6.8 + 1.8 = 27.8 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 24Rajesh Exports LtdRAJESHEXPO | 26.8/100Adverse evidence96% evidence | ASLEEP | 16.3/35 Revenue 84% · PAT 15.6% · OPM change -0.1 pp 88% evidence | 4.4/25 ROCE 1.9% · OPM -0.1% 100% evidence | 5.8/20 P/E 22.3× · PEG 1.74 100% evidence | 0.3/20 RS sector -53.8% · RS bench -43.2% · 1Y -56.6%0 of 12 weeks ahead 100% evidence |
| Exact sum: 16.3 + 4.4 + 5.8 + 0.3 = 26.8 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 25PNGS Reva Diamond Jewellery LimitedPNGSREVA | 60.0/100Thin evidence · provisional43% evidence | ASLEEP | 23.5/35 Revenue — · PAT — · OPM change 7 pp 45% evidence | 16.1/25 ROCE 22% · OPM 29% 95% evidence | 10.4/20 P/E 16.1× · PEG — 15% evidence | 10.0/20 RS sector — · RS bench — · 1Y —0 of 3 weeks ahead 0% evidence |
| Exact sum: 23.5 + 16.1 + 10.4 + 10 = 60 · Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral. | ||||||
| 26SJ Corporation Ltd504398 | 42.1/100Thin evidence · provisional28% evidence | TURNING | 16.0/35 Revenue — · PAT — · OPM change -5.2 pp 10% evidence | 3.6/25 ROCE 0.1% · OPM -4.8% 76% evidence | 10.0/20 P/E — · PEG — 0% evidence | 12.5/20 RS sector — · RS bench 175.1% · 1Y —3 of 3 weeks ahead 25% evidence |
| Exact sum: 16 + 3.6 + 10 + 12.5 = 42.1 · Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral. | ||||||
Missing observations are not scored as bad. Their missing weight lowers confidence and pulls the final score toward neutral. PEG is not shown when the ratio cannot mean anything: the company must be making a profit, its price-to-earnings must be positive, and its three-year earnings growth must fall between 5% and 60%. Dividing a price multiple by a loss, or by growth measured off a tiny base, produces a number that looks precise and tells you nothing. Under relative strength, one mark per week shows the last 12 weeks: a mark is filled where the company led NIFTY 500 by 5% or more over the 13 weeks ending that week, which is the same test used everywhere on this site. Price stage places the company on the same six-step curve the sector itself is placed on — basing, turning, breaking out, leader, fading, asleep — read from how many weeks running it has led NIFTY 500 and whether that lead is widening or shrinking. It describes where the PRICE stands, not the earnings trajectory and not a recommendation, and it is left blank for a company whose weekly history is too short or too stale to read.
Frequently asked questions
What is Sky Gold & Diamonds Ltd's share price today?
Sky Gold & Diamonds Ltd trades at ₹645, +134.7% over the past year. The company is valued at ₹9,969 Cr. The stock sits at 98% of its 52-week range of ₹273–₹651, +46.0% versus its 200-day average. On the tape, the price is in a confirmed uptrend, 38 weeks in. — as of 31 July 2026.
What were Sky Gold & Diamonds Ltd's latest quarterly results?
Sky Gold & Diamonds Ltd reported revenue of ₹1,912 Cr and net profit of ₹91.0 Cr for the Mar 26 quarter. Revenue rose 80.7% and profit rose 139.5% year on year. Earnings per share were ₹5.44. The operating margin was 7.0%, 1.0 pp higher than a year earlier. — as of 31 July 2026.
What is Sky Gold & Diamonds Ltd's revenue?
Sky Gold & Diamonds Ltd reported revenue of ₹1,912 Cr in the Mar 26 quarter, +80.7% year on year. For the full FY26 fiscal year, revenue was ₹6,295 Cr (+77.4%). Over the last 10 years revenue compounded at 42.4% a year. — as of 31 July 2026.
What is Sky Gold & Diamonds Ltd's profit?
Sky Gold & Diamonds Ltd earned ₹91.0 Cr of net profit in the Mar 26 quarter, +139.5% year on year — the 12th straight quarter of growth. Full-year FY26 profit was ₹282 Cr. The operating margin ran 7.0% in the latest quarter. — as of 31 July 2026.
What is Sky Gold & Diamonds Ltd's market cap?
Sky Gold & Diamonds Ltd's market capitalisation is ₹9,969 Cr at a share price of ₹645. Market cap is the share price multiplied by shares outstanding, so it is restated whenever the price moves. — as of 31 July 2026.
What is Sky Gold & Diamonds Ltd's P/E ratio?
Sky Gold & Diamonds Ltd trades at a P/E of 36.2×, at the 61st percentile of its own 4-year range, against a long-run median of 32.6×. This is a comparison with the stock's own history, not a value call — as of 31 July 2026.
Does Sky Gold & Diamonds Ltd pay a dividend?
Not in its latest year — Sky Gold & Diamonds Ltd's dividend payout was 0% of profit in FY26. It did record a payout in 2 of its last 12 reported fiscal years, so there is a history but no current dividend. — as of 31 July 2026.
Is Sky Gold & Diamonds Ltd overvalued?
On its own history, Sky Gold & Diamonds Ltd looks mid-range against its own history: its P/E of 36.2× sits at the 61st percentile of its 4-year range (long-run median 32.6×). That is a percentile read against the stock's own past, not a price opinion or a direction call. One caveat: margins are the best this company has ever printed — cheap on record margins is not the same thing as cheap. — as of 31 July 2026.
Is Sky Gold & Diamonds Ltd growing?
Yes — Sky Gold & Diamonds Ltd is growing: latest-quarter revenue +80.7% year on year, profit +139.5%, and the margin +1.0 pp at 7.0%. The 10-year compound rates are 42.4% (revenue) and 75.8% (profit). The earnings engine currently reads: improving — as of 31 July 2026.
How is Sky Gold & Diamonds Ltd performing?
Sky Gold & Diamonds Ltd is in a confirmed uptrend, 38 weeks in. Its latest quarter's revenue rose 80.7% and profit rose 139.5% year on year. Against the NIFTY 500 it has been ahead on a trailing-13-week view for 5 weeks. This describes what the data did, not a rating. — as of 31 July 2026.
What stage is Sky Gold & Diamonds Ltd in?
Mixed — growth is normalizing off a hyper-growth base: revenue growth has eased from +99.9% at its peak to +77.4% but is still expanding, ROCE lifting at 27.0%. The read comes from the last 12 quarters of growth (revenue growth +77.4% latest, profit growth +112.8% latest, eps growth +90.8% latest) plus the ROCE curve, classified by deterministic rules — a trajectory read, not a buy or sell call — as of 31 July 2026.
Is Sky Gold & Diamonds Ltd in an uptrend?
Yes — the price is in a confirmed uptrend (week 38 of stage 2), trading +46.0% versus its 200-day average and at 98% of its 52-week range. Price stages cycle base → advance → top → decline, and the stage names where this stock sits in that cycle — as of 31 July 2026.
Is Sky Gold & Diamonds Ltd beating the market?
On recent form, yes — Sky Gold & Diamonds Ltd has been ahead of the NIFTY 500 on a trailing-13-week view for 5 straight weeks, the same metric the week-by-week ribbon on this page draws. Separately, on the cumulative view: over the last 7.8 years the stock moved +7,030% against the NIFTY 500's +168% — ahead of the index over the full window. — as of 31 July 2026.
Will Sky Gold & Diamonds Ltd's share price go up?
This page publishes no price forecast for Sky Gold & Diamonds Ltd. What it measures instead: the share price is ₹645, the price is in a confirmed uptrend 38 weeks in. Its P/E of 36.2× sits at the 61st percentile of its own 4-year range. — as of 31 July 2026.
Who owns Sky Gold & Diamonds Ltd?
Promoters hold 51.7% of Sky Gold & Diamonds Ltd, foreign institutions 2.8%, domestic institutions 14.2% and the public 31.3% (latest quarter). The biggest move on the register over the last two years: Domestic institutions added 14.2 points over 8 quarters. — as of 31 July 2026.
Does Sky Gold & Diamonds Ltd have too much debt?
It is moderate — Sky Gold & Diamonds Ltd's debt-to-equity is 0.72, and operating profit covers the interest bill 6×. FY26 borrowings were ₹869 Cr against equity of ₹1,199 Cr. Read the returns on this page with that leverage in mind — as of 31 July 2026.
What is Sky Gold & Diamonds Ltd's capex?
Sky Gold & Diamonds Ltd spent ₹397 Cr on capital expenditure over the last 3 fiscal years, a figure derived from the change in fixed assets plus depreciation. In FY26 alone that was ₹282 Cr, with ₹0.0 Cr in capital work-in-progress — capacity paid for but not yet earning. — as of 31 July 2026.
What is Sky Gold & Diamonds Ltd's cash flow?
Sky Gold & Diamonds Ltd generated ₹−45.0 Cr of operating cash flow in FY26 and ₹−327 Cr of free cash flow after ₹282 Cr of capital spending. Reported profit that year was ₹282 Cr, so operating cash ran behind profit. Cash-flow resolution for India is annual. — as of 31 July 2026.
Is Sky Gold & Diamonds Ltd's profit real cash?
Not fully — over the last 3 fiscal years, −105% of Sky Gold & Diamonds Ltd's reported profit arrived as operating cash. In FY26, operating cash was ₹−45.0 Cr against reported profit of ₹282 Cr. The cash then goes mostly into the working-capital cycle. Cash-flow resolution is annual — as of 31 July 2026.
Where is Sky Gold & Diamonds Ltd in its business cycle?
Sky Gold & Diamonds Ltd's FY26 operating margin was 7.0%, against a 12-year band of 1.0%–7.0%: the top of the band — a record year. Record profitability is late-cycle territory: every ratio flatters at the top, and the story leans on margins holding. The latest quarter ran 7.0%. Profitability versus a company's own long band is the cleanest cycle clock this page holds — as of 31 July 2026.
What could break the Sky Gold & Diamonds Ltd story?
The sharpest disagreement: profits are rising, but only −105% of the last 3 years' profit arrived as operating cash — the gap between the P&L and the bank account is the thing to watch. Mechanically, two Friday closes in a row below the 200-day average would end the price trend — that is the exit rule this page tracks — as of 31 July 2026.
Is Sky Gold & Diamonds Ltd a stock worth studying right now?
This is not investment advice. The machine read: Sky Gold & Diamonds Ltd is printing record margins on a fuller multiple. From here the earnings must do all the lifting. The sharpest open question: whether the cash starts following the profit. Every number on this page is drawn deterministically from the raw series, with no forecasts and no price opinions — as of 31 July 2026.