During Wednesday’s trading session, the shares of a leading player in the Indian jewellery manufacturing sector in India hit a 5 percent upper circuit at Rs. 379.3 on BSE, after strengthening its market presence through diversifying into new jewellery segments by onboarding Aditya Birla Jewellery.
With a market capitalisation of Rs. 5,556.8 crores, at 02:23 p.m., the shares of Sky Gold Limited were trading in the green at Rs. 379.2, up by nearly 4.9 percent, as against its previous closing price of Rs. 361.25.
What’s the News
Sky Gold Limited, according to the latest regulatory filings with the stock exchanges, announced the onboarding of Aditya Birla Jewellery, operating under the brand name Indriya.
This collaboration represents a significant milestone in Sky Gold’s journey toward aligning with premier brands that share its commitment to quality and design excellence. The company aims to establish itself as one of India’s top jewellery retailers within the next five years.
Strengthening its market presence, Sky Gold has secured multiple orders in new categories, including 18K Gold, Natural Diamond Jewellery, and Lab-Grown Diamond Jewellery.
This strategic diversification complements its stronghold in the 22K lightweight jewellery segment, demonstrating the company’s ability to adapt to evolving market trends and its ability to cater to a broader customer base.
Additionally, Sky Gold is actively expanding its distribution network in the Singapore market, aiming to enhance its export revenue and global presence.
Launched by the Aditya Birla Group in July 2024, Indriya stands as a luxury jewellery brand that seamlessly blends traditional Indian craftsmanship with contemporary design.
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Financials
The company experienced a significant growth in its revenue from operations, showing a year-on-year rise of around 94.2 percent from Rs. 396 crores in Q2 FY24 to Rs. 768.8 crores in Q2 FY25.
Further, the net profit of Sky Gold increased during the same period from Rs. 7.3 crores to Rs. 36.7 crores, indicating an impressive growth of nearly 405.2 percent YoY.
Stock Performance
The stock has delivered multibagger returns of nearly 222 percent of returns in one year, while around 80 percent of positive returns in the last six months. However, the shares of Sky Gold have fallen by around 19 percent in the last one month.
About the Company
Established in 2008, Sky Gold Limited, one of the leading jewellery companies based in Mumbai, is engaged in the business of designing, manufacturing and marketing of gold jewellery. It provides a wide range of designs and also uses studded American diamonds and/or coloured stones in many of its jewellery products.
Written by Shivani Singh
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