Sky Gold and Diamonds (541967) Q4 21/22 earnings summary

Executive summary

• FY22 profit after tax rose to ₹1,692.19 lakh from ₹481.25 lakh, while revenue from operations eased to ₹78,570.20 lakh from ₹79,554.07 lakh.

• Profit growth included ₹1,016 lakh in gains on sale of investments; gross profit moved to ₹1,167.22 lakh from a loss of ₹1,331.87 lakh.

Financial highlights

• Total income was ₹79,626.29 lakh vs ₹79,789.98 lakh; PBT increased to ₹2,167.25 lakh from ₹605.74 lakh.

• PAT was ₹1,692.19 lakh vs ₹481.25 lakh; basic and diluted EPS were ₹31.50 vs ₹8.96.

• Revenue from operations fell 1.23% YoY; other income rose to ₹1,056.09 lakh from ₹235.91 lakh.

• Finance costs increased to ₹794 lakh from ₹639 lakh; cost of material consumed fell to ₹77,403 lakh from ₹80,886 lakh.

Outlook and guidance

• FY23 Indian gold jewellery demand was forecast to grow 11%; organized retailers were projected to grow 14%, supported by store expansion and organized-retail preference.

• Capacity expansion to improve economies of scale was identified as a profitability initiative; management said future profit increases could not be quantified.