Manufactures and sells gold and diamond jewellery in India, generating Rs. 6,294.8868 crore of revenue in FY26. Raw materials — primarily gold and diamonds — account for 95.2% of revenue, which is typical for a jewellery business where precious-metal and stone content drives the top line. EBITDA margin was 7.4782% and net profit was Rs. 281.8309 crore on total assets of Rs. 2,195.0317 crore. It runs a subsidiary called Starmangalsutra Private Limited, pointing to an offering beyond plain gold jewellery into segment-specific products such as mangalsutra (traditional Indian wedding necklaces). Employee costs are low at 0.9% of revenue and capex was 1.5% of revenue, indicating limited fixed-asset intensity. The promoter group, led by Managing Director Mangesh Chauhan, holds 51.74% of the equity. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. Gold and diamond jewellery, Mangalsutra and allied products. Materials-heavy, asset-light gems and jewellery manufacturer
| ₹ crore · consolidated | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|
| Revenue | 1,154 | 1,745 | 3,548 | 6,295 |
| EBITDA (ex other income) | 36 | 77 | 196 | 434 |
| margin % | 3.1 | 4.4 | 5.5 | 6.9 |
| Owners' profit | 0 | 40 | 133 | 275 |
| EPS, as reported (₹) | 17.32 | 70.36 | 19.04 | 18.07 |
| ROE % · ROCE % | 19.0 · 30.6 | 16.6 · 27.2 | 19.4 · 30.3 | 23.4 · 36.0 |
| Debt / equity (x) | 1.49 | 1.27 | 0.92 | 0.72 |
| Cash from operations | (6) | (138) | (273) | (45) |
| Capex | (2) | (20) | 0 | (95) |
| ₹ crore | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 769 | 998 | 1,058 | 1,131 | 1,484 | 1,768 | 1,912 | 2,013 |
| Profit before tax | 46 | 49 | 50 | 59 | 88 | 106 | 126 | 135 |
| Net profit | 37 | 37 | 38 | 44 | 67 | 81 | 91 | 105 |
| EPS (₹) | 34.58 | 2.52 | 5.20 | 2.97 | 4.38 | 5.20 | 5.44 | 6.67 |
| Company | M.cap ₹ cr | P/E | P/B | EV/EBITDA | ROE % | ROCE % | Rev CAGR 5y % | EBITDA m. % |
|---|---|---|---|---|---|---|---|---|
| TITAN COMPANY LIMITED | 4,44,743 | 77.5 | 28.32 | 51.7 | 32.3 | 32.7 | 32.3 | 14.2 |
| KALYAN JEWELLERS IND LTD | 62,083 | 43.3 | 9.84 | 23.4 | 21.4 | 22.1 | 33.0 | 6.5 |
| THANGAMAYIL JEWELLERY LTD | 15,910 | 40.7 | 11.24 | — | 24.8 | 30.3 | — | 5.4 |
| BLUESTONE JEWEL LFSTL LTD | 13,640 | 268.8 | 7.57 | 32.5 | 0.7 | 0.7 | — |
| Date · filing | Category | Importance | 1-day % | 5-day % |
|---|---|---|---|---|
| 9 Sept 2026 · Investor meeting scheduled for 9 September 2026 cancelled | investor communications | low | — | — |
| 7 Sept 2026 · Newspaper clippings of 18th AGM notice and e-voting info filed with BSE | compliance | minimal | — | — |
| 5 Sept 2026 · 18th AGM on 30 Sep 2026; FY26 Annual Report available online | compliance | minimal | — | — |
| 5 Sept 2026 · Sky Gold files FY2025-26 business responsibility and sustainability report | compliance | minimal | — | — |
| 5 Sept 2026 · 18th AGM notice and FY26 annual report filed | board shareholder meetings | medium | — | — |
| 5 Sept 2026 · Notice of 18th AGM and FY26 Annual Report | board shareholder meetings | medium | — | — |
| 5 Sept 2026 · Board sets 18th AGM on 30 Sep 2026 and approves new statutory auditor | board shareholder meetings | low | — | — |
| 1 Sept 2026 · Management to meet investors on 9 Sept 2026 in Chennai | board shareholder meetings | low | — | — |
| 25 Aug 2026 · Investors meeting held on 25 Aug 2026 | investor communications | low | — | — |
| 20 Aug 2026 · Investor meeting scheduled on 25 August 2026 in Mumbai | board shareholder meetings | low | — | — |
| Where a broker report shows | This document shows | Why |
|---|---|---|
| A rating (BUY / ADD / REDUCE / SELL) | A state: the latest filed quarter and the measured reactions |
| 16.7 |
| PC JEWELLER LTD | 13,342 | 13.9 | 1.63 | 16.5 | 8.7 | 8.6 | 3.5 | 27.8 |
| SKY GOLD AND DIAMONDS LTD ◆ | 12,822 | 38.2 | 10.63 | 29.1 | 23.4 | 29.8 | — | 8.2 |
| P N GADGIL JEWELLERS LTD | 8,307 | 18.6 | 4.23 | 14.1 | 20.9 | 26.1 | — | 8.0 |
| ETHOS LIMITED | 7,118 | 67.7 | 4.28 | 27.7 | 5.8 | 7.0 | — | 16.2 |
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/E (TTM) | 38.2 | 23.4 | 19 of 29 | 36% |
| P/B | 10.6 | 2.8 | 24 of 28 | 15% |
| ROCE | 29.8 | 16.7 | 4 of 28 | 89% |
| ROE | 23.4 | 14.6 | 5 of 28 | 85% |
| Debt / Equity | 0.7 | 0.3 | 23 of 28 | 19% |
| EBITDA margin | 8.2 | 10.7 | 19 of 30 | 38% |
| Revenue growth | 77.9 | 45.7 | 2 of 25 | 96% |
| Profit growth | 140.7 | 49.8 | 3 of 25 | 92% |
| Market cap | 12822 | 2587 | 6 of 30 | 83% |
| an event is a fact; a rating is an opinion that requires SEBI RA registration |
| A target price and upside | The current price and the multiples against the group | a target is a forecast; a multiple is a measurement |
| Estimate years marked E | More audited years; no estimates | MarketPing publishes no forecasts — your own model lives on the Models page |
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