Sky Gold and Diamonds Q2 FY27 Results: Consolidated Net Profit ₹129 Crore on Total Income of ₹2,405 Crore
Earnings
Gold jewellery manufacturing
Blacklitt Research4 min read
Sky Gold and Diamonds reported consolidated total income of ₹2,405.09 crore and net profit of ₹129.35 crore for the quarter ended 30 Sep 2026, with standalone total income of ₹1,836.91 crore and net profit of ₹85.37 crore, it said in a filing on 27 Oct 2026.
Key highlights
Consolidated
Including its subsidiaries
Total income: ₹2,405.09 crore, up 61.2% YoY and 19.0% QoQ
Net profit and EPS: ₹129.35 crore, up 93.1% YoY; basic EPS ₹8.26
Exceptional item: ₹7.35 crore from a fraud incident at a subsidiary, after ₹3.35 crore recovered
Finance costs: ₹25.50 crore, up 45.0% YoY
Standalone
The company on its own, without its subsidiaries
Total income: ₹1,836.91 crore, up 58.9% YoY and 27.0% QoQ
Net profit and EPS: ₹85.37 crore, up 55.7% YoY; basic EPS ₹5.51
Finance costs: ₹19.74 crore, up 44.6% YoY
Summary
Consolidated ₹ crore
Particulars
Q2 FY27
Q2 FY26
YoY
Q1 FY27
QoQ
2,405.09
1,492.45
+61.2%
2,020.75
+19.0%
Revenue from operations
2,390.66
1,484.46
+61.0%
2,012.19
+18.8%
Other income
14.43
7.99
+80.6%
n/a
n/a
129.35
66.99
+93.1%
104.90
+23.3%
Profit before tax
166.03
87.90
+88.9%
134.80
+23.2%
Finance costs
25.50
17.58
+45.0%
25.35
+0.6%
Depreciation
5.32
2.41
+121.2%
n/a
n/a
Tax expense
36.68
20.91
+75.4%
29.90
+22.7%
Net profit margin
5.38%
4.49%
+0.89 pp
5.19%
+0.19 pp
EPS, basic (₹)
8.26
4.38
+88.6%
6.67
+23.8%
Figures are in ₹ crore; YoY compares with Q2 FY26 and QoQ with Q1 FY27. Click Total income or Net profit to see the rows behind them.
Net profit grew faster than income. Consolidated net profit rose 93.1% YoY to ₹129.35 crore while total income rose 61.2%, and profit before tax rose 88.9%. Tax expense of ₹36.68 crore is 22.1% of profit before tax, against ₹20.91 crore a year earlier on ₹87.90 crore, a rate of about 23.8%.
Other income is a small part of the result. At ₹14.43 crore it is 0.6% of total income and 8.7% of profit before tax. Finance costs of ₹25.50 crore are 1.1% of total income, and rose 45.0% YoY, slower than income.
The quarter includes an exceptional item. The notes say a fraud incident at Starmangalsutra Private Limited, a wholly owned subsidiary, involved unauthorised fund transfers of up to ₹10.70 crore. The company says it recovered ₹3.35 crore and recognised the balance of ₹7.35 crore as an exceptional item. A complaint was filed with the Cyber Police for recovery from the bank accounts of the suspects or beneficiaries. The auditor's review report issues an unmodified conclusion on the consolidated results.
The consolidated figure for the prior quarter, Q1 FY27, shows net profit of ₹104.90 crore and total income of ₹2,020.75 crore. Net profit rose 23.3% QoQ, faster than total income at 19.0%.
Standalone ₹ crore
Particulars
Q2 FY27
Q2 FY26
YoY
Q1 FY27
QoQ
1,836.91
1,156.11
+58.9%
1,446.92
+27.0%
Revenue from operations
1,824.55
1,149.42
+58.7%
1,440.04
+26.7%
Other income
12.36
6.69
+84.8%
6.88
+79.8%
85.37
54.83
+55.7%
n/a
n/a
Profit before tax
114.10
71.73
+59.1%
81.80
+39.5%
Finance costs
19.74
13.65
+44.6%
19.37
+1.9%
Depreciation
2.33
1.05
+121.3%
1.82
+28.0%
Tax expense
28.73
16.90
+69.9%
21.22
+35.4%
EPS, basic (₹)
5.51
3.59
+53.5%
3.91
+40.9%
Figures are in ₹ crore; YoY compares with Q2 FY26 and QoQ with Q1 FY27. Click Total income or Net profit to see the rows behind them.
Standalone net profit rose 55.7% YoY to ₹85.37 crore, slower than total income of 58.9% and profit before tax of 59.1%. Tax expense of ₹28.73 crore is 25.2% of profit before tax of ₹114.10 crore.
Standalone other income of ₹12.36 crore is 10.8% of profit before tax and 0.7% of total income. Standalone finance costs of ₹19.74 crore are 1.1% of total income.
Consolidated net profit of ₹129.35 crore is ₹43.98 crore higher than standalone net profit of ₹85.37 crore, and consolidated total income is ₹568.18 crore higher than standalone total income. Consolidated net profit rose faster YoY, at 93.1%, than standalone net profit at 55.7%.
The Board approved on 27 Oct 2026 a plan to raise up to ₹1,800 crore by issuing equity shares in one or more tranches, including through Qualified Institutions Placements. The approval is subject to shareholder and regulatory approvals and to the issue price, which the Board has not yet set. The Board has authorised the QIP Committee to decide the terms. An Extraordinary General Meeting is set for 18 Nov 2026, with 11 Nov 2026 as the cut-off date for voting entitlement.
The company completed the acquisition of 100% of Purvi Gems & Jewellery (India) Private Limited on 7 Oct 2026, after the quarter end. Shri Rishab Gold converted from a partnership firm to a Private Limited Company with effect from 22 Aug 2026. The group operates in a single segment of manufacturing and selling gold jewellery.
Inference
The filing sets out a fund-raise of up to ₹1,800 crore, but it does not say what the proceeds will be used for, and the issue price and number of securities are not stated. The filing also does not give the purchase price for Purvi Gems & Jewellery (India) Private Limited, and it does not say whether the balance of the fraud amount is expected to be recovered or whether a dividend is proposed.
The filing does not explain the reason for the proposed fund raise, which a reader would want to know before the EGM on 18 Nov 2026.
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SKYGOLDSky Gold and Diamonds Ltd.