Pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, copy of the transcript of the earnings conference call held on Thursday, May 29, 2025 on the audited financial results and operations of the Company for the quarter and financial year ended March 31, 2025, is enclosed.
SKYGOLD · price
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Sky Gold held its Q4 and FY25 earnings call outlining aggressive growth plans. Management guided FY26 revenue of ~Rs. 5,400 crores and FY27 revenue of ~Rs. 7,600 crores (based on a conservative gold price assumption of Rs. 90,000/10g). PAT margins are guided to expand from 3.7% currently to 4.5% by FY27, with EBITDA margins rising from 5.67% to 6.2-6.3%. The company is undertaking a 4x capacity expansion from 1 ton/month to 4 tons/month via a new 5 lakh sq ft standalone facility in Coimbatore, with detailed CAPEX plan to be shared after Q1 FY26. Export revenue tripled in FY25 to ~Rs. 300 crores (8% of revenue), with a 200 kg/month order from a Malaysian distributor and a new Dubai office to drive exports to 20% of volume by FY27. Advanced gold strategy (where the customer provides gold) is targeted to grow from 5% to 10% of revenue by FY27 and 30% by FY29-30, while working capital cycle is to be cut from 72 days to 50-55 days using Gold Metal Loans at favorable 3-3.5% rates.
The detailed multi-year guidance on revenue, margins, capacity, exports and working capital signals strong management confidence and provides investors visibility on the growth trajectory. Shareholders can view this positively given the multiple growth levers, though the 4x capacity build-out, export ramp-up, and an upcoming acquisition remain key execution risks to monitor.