The stock market is seeing a rise on Tuesday. Some stock-specific action is being seen. In the environment of corporate results, many stocks are witnessing a movement. The share price of Sky Gold Ltd is seeing a rise on Tuesday due to strong quarterly results. The stock hit an upper circuit with a rise of 5% and reached the level of Rs 3,590.90.

Star investor Ashish Kacholia holds a stake in this stock. FIIs and DIs have also increased their stake in this stock.
Sky Gold Limited is a company engaged in the business of designing, manufacturing, and marketing gold jewelry. The company follows a B2B model, where products are sold primarily to mid-range jewelers and boutique stores that sell these products through online platforms and retail stores.
As per the shareholding pattern of Sky Gold, promoters hold a 58.24 percent stake, while general investors hold a 34.07 percent stake. Foreign institutional investors (FIIs) hold a 1.38 percent stake, up from 0.25 percent earlier and DIIs bought a 6.31 percent stake in the September quarter. Bengal Finance and Investment Private Limited holds around 1.76 percent stake in the company. The

the current market capitalization of the company is Rs 5,265 crore and the stock has given a spectacular multi-bagger return of over 300 percent in the last 1 year.
 

Financial performance of the company
 

According to the quarterly results, Sky Gold Limited recorded a revenue of Rs 717 crore as compared to Rs 396 crore in September 2024, showing a growth of about 81 percent on a year-on-year basis. The company recorded an operating profit of Rs 37 crore with a margin of around 5 percent as compared to Rs 15 crore with a margin of 4 percent. The net profit of the company stood at Rs 36 crore during this period as compared to a profit of Rs 7 crore in the same quarter last year.

Looking at the annual performance, the company earned a revenue of Rs 1745 crore in FY 2024 as against Rs 1154 crore in FY 2023. This shows a growth of 51 percent over the previous financial year. The operating profit stood at Rs 77 crore in FY 2024 as against Rs 37 crore in FY 2023. The company recorded a net profit of Rs 40 crore as compared to Rs 19 crore.

On October 26, 2024, Sky Gold announced that its board had approved the issuance of bonus shares in the ratio of 9:1. Earlier, the company had issued bonus shares in the ratio of 1:1 in 2022, with one free share for every share held.