Sky Gold and Diamonds
Sky Gold and Diamonds is expanding fast, buying Purvi Gems & Jewellery for ₹9 crore on 7 October after Q1 FY27 revenue reached ₹2,013 crore (ET Retail, 7 Oct). Record gold at ₹1.50 lakh per 10g pushes buyers toward lightweight, lower-carat pieces (Business Today, 3 Oct).
What it means
Sky Gold and Diamonds' scale now pays for itself: room for new showrooms and making-charge offers.
Reported: Net profit ₹103 cr, up from ₹44 cr a year earlier, on revenue +78% in Q1 FY27. NDTV Profit,
Watch: Q2 FY27 results, expected early Nov — revenue growth below Q1's 78%.
Before its next results, expected early Nov:Before then:
- Affected
- Kalyan Jewellers and Senco Gold — facing a better-funded Sky Gold and DiamondsDo now: By early Nov: defend your strongest catchments: it has profit to spend where it competes with you.
- Sky Gold and Diamonds' karigars and bullion suppliers — a stronger buyer at the tableDo now: By early Nov: expect firmer terms from it; lock volumes and prices.
Latest moves
Our read of each move first, where we have one; what the report said is marked Reported.
- Reported: Jewellery retailers who source from Sky Gold could see a wider range of lightweight and studded designs as the Purvi Gems unit adds about 100 kg of monthly sales capacity, though supply will only ramp up over time.Reported: Sky Gold buys Purvi Gems for ₹9 crore in all-cash deal to widen its lightweight and studded jewellery range. It expects the unit to add about 100 kg of monthly sales capacity and ₹1,600-1,800 crore in annual revenue within two to three years.Watch:
- Reported: Sky Gold & Diamonds added to MSCI India Domestic Small Cap IndexReported: Watch:
- Reported: Sky Gold & Diamonds Q1 profit more than doubles as revenue rises 78%Reported: Watch:
Background
From 6 stories, the newest dated 7 Oct 2026. Summary written 10 Oct 2026.
Sky Gold and Diamonds is an Indian jewellery company whose shares are listed and trade on the stock market.[1] source: NDTV Profit
Show 3 more paragraphs and 6 sources
Its managing director is Mangesh Chauhan, who said in October 2026 that gold near ₹1.50 lakh per 10 grams is pushing Indian buyers toward lightweight jewellery, lower-carat products and gold exchanges.[2] source: Business Today ET Retail reported that the company is widening its lightweight and studded jewellery range.[3] source: ET Retail
On October 7, 2026, Sky Gold & Diamonds acquired 100 per cent of Purvi Gems & Jewellery (India) for Rs 9 crore in an all-cash deal.[3] source: ET Retail The price was 1.5 times book value, and the deal adds potential monthly sales capacity of 100 kg.[3] source: ET Retail The company expects the business to generate Rs 1,600-1,800 crore in annual revenue over the next two to three years.[3] source: ET Retail
On the market, Sky Gold and Diamonds shares fell 3.61% on October 1, 2026, as jewellery stocks declined.[1] source: NDTV Profit Business Today listed the stock at 154.74 per cent over six months in a September 30, 2026 report.[4] source: Business Today In September 2026, BOB Capital upgraded Sky Gold to BUY with a ₹1,068 target against ₹824.75, implying about 30% upside.[5] source: Mint Nuvama also assigned a Buy rating with a Rs 1,144 target, citing jewellery expansion and new manufacturing capacity.[6] source: Financial Express
Sources
Questions about Sky Gold and Diamonds
Who leads Sky Gold and Diamonds?
Mangesh Chauhan is the managing director of Sky Gold & Diamonds. In October 2026 he said gold near ₹1.50 lakh per 10 grams is pushing Indian buyers toward lightweight jewellery, lower-carat products and gold exchanges.[2] source: Business Today
Stories that mention Sky Gold and Diamonds
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