Sky Gold and Diamonds (541967) Q4 23/24 earnings summary

Executive summary

• FY24 delivered strong growth: revenue from operations rose 51.28% YoY to ₹1,74,548.42 lakh; EBITDA increased 116.08% to ₹5,408.83 lakh and PAT grew 117.53% to ₹4,048.11 lakh.

• A larger Navi Mumbai facility, commissioned in August 2023, has capacity of 750–800 kg monthly; utilization was 40%, leaving scope to scale production.

Financial highlights

• Revenue from operations reached ₹1,74,548.42 lakh versus ₹1,15,380.07 lakh in FY23; other income was ₹373.95 lakh versus ₹95.56 lakh.

• EBITDA rose 116.08% YoY to ₹5,408.83 lakh; PAT increased to ₹4,048.11 lakh from ₹1,860.88 lakh.

• Basic EPS was ₹35.18 versus ₹17.32; diluted EPS was ₹35.03 versus ₹17.32. Total comprehensive income was ₹3,900.37 lakh versus ₹2,247.18 lakh.

• Operating cash flow was negative ₹13,809.53 lakh, with inventory increasing ₹18,090.59 lakh and trade receivables increasing ₹3,513.99 lakh among working-capital movements.

Outlook and guidance

• FY25 target: increase new-facility utilization to 50% on an annualized basis.

• Priorities include IT and automation investment, ERP implementation, stronger mid-management and regional sales teams, and improved inventory management and working-capital cycle.

• Management aims to improve profitability and reduce borrowing costs by leveraging gold metal loans, while increasing sales in new geographies and with existing and new customers.