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Sky Gold reports robust results for Ǫ1FY25

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MUMBAI, India, Aug. 16, 2024 /PRNewswire/ — Sky Gold Limited (SGL) one of the leading jewellery companies based in Mumbai engaged in the business of designing, manufacturing and marketing of Gold jewelleries reported its unaudited financial results for the Ǫuarter Ended on 30th June, 2024.

Ǫ1FY25 Consolidated Financial Performance Snapshots (Y-o-Y)

Revenue from Operations grew by 92.4% y-o-y to Rs. 723.0 croresEBITDA grew by 100% to Rs. 37.3 croresProfit After Tax (PAT) grew by 98.9% to RS. 21.2 croresSales volumes for the quarter stood at 349 Kgs/ month and profit soars ~2x y-o-y

Key Financial Highlights:

Particulars (Rs. Crs.)

Ǫ1 FY25

Ǫ1 FY24

Y-o-Y

Ǫ4FY24

Ǫ-o-Ǫ

Revenue from Operations

723.0

375.7

92.4 %

513.4

40.8 %

EBITDA

37.3

18.6

100.0 %

25.3

47.2 %

EBITDA Margins

5.2 %

5.0 %

19 bps

4.9 %

22 bps

Profit After Tax

21.2

10.7

98.9 %

13.6

56.0 %

PAT Margin

2.9 %

2.8 %

10 bps

2.7 %

28 bps

Operational Highlights:

Consolidated Revenues from Operations for Ǫ1 FY25 stood at Rs. 723 Crs, registering a growth of 92.4% on a y-o-y basisEBITDA for the current quarter stood at Rs. 37.3 Crs, registering a growth of 100% on a y- o-y basisPAT for Ǫ1 FY25 stood at Rs. 21.2 Crs, registering a growth of 98.9% as compared to the same quarter for the previous year. Thus, registering 2nd straight quarter of 2x PAT growth on y-o-y basis.

Commenting on the Results, Mr. Mangesh Chauhan, Managing Director and Chief Financial Officer, said:

“Sky Gold Ltd has seen exceptional growth in the first quarter of FY25. Our Revenue from Operations surged by 92.4% year-on-year to Rs. 723 crores. EBITDA increased by 100% to Rs. 37.3 crores, and our Profit After Tax grew by 98.9% to Rs. 21.2 crores. This remarkable performance is attributed to our recent expansion to a larger facility in Navi Mumbai, which has significantly increased our production capacity.

In Ǫ1 FY25, our capacity utilization stood at 33% of the total capacity (including additional capacities from acquisitions). This highlights our capability to scale operations and strengthen our position in the gold jewellery market both in India and globally. The recent integration of Starmangalsutra and Sparkling Chains into Sky Gold is perfectly aligned with our growth strategy. These acquisitions are expected to boost our margins through the synergies they bring to the enterprise. By consolidating our operations, we’re broadening our total addressable market and expanding our product presence in numerous retail outlets.

Moving forward in FY25, we plan to increase capacity utilization at our new facility, invest in IT and automation, implement an ERP system, strengthen our mid-management and regional sales teams, and optimize our financials through the use of gold metal loans to improve profitability and reduce borrowing costs.

We are confident that these initiatives will help us achieve our goal of INR 6300 Crores in revenue by FY27, while aiming for a capacity utilization of 1050 Kgs from 750 kgs post our recent acquisition per month within the next three years.”

Sky Gold is also planning to raise funds to boost equity. The recent cut in import duty on gold in the Union Budget has sparked a surge in demand for gold jewellery, with more consumers now preferring organized markets over unorganized ones. These events are expected to further strengthen the company’s position in the industry.

Sky Gold Ltd is focused on enhancing its operational efficiency and expanding its market presence. Investments in IT and automation will facilitate scaling up operations and improving productivity. The implementation of an ERP system will streamline processes and enhance decision-making capabilities.

To support its growth ambitions, Sky Gold is also strengthening its mid-management team and regional sales force. It has decreased its collateral percentage to free up capital from 50 to 40%. The company is optimizing its financial structure by leveraging gold metal loans, which will lead to better profitability and reduced borrowing costs.

About Sky Gold Limited:

Established in 2008, Sky Gold Limited is one of the leading jewellery companies based in Mumbai. The Company specializes in lightweight jewellery of 18 & 22 Carat gold, manufacturing a variety of designs including plain gold jewellery, studded gold jewellery, diamond-studded jewellery, and Turkish jewellery. Operating on a B2B model, Sky Gold collaborates with leading jewellery retailers like Malabar Gold and Diamonds, Joyalukkas, Kalyan Jewellers, GRT Jewellers, and Senco Gold, making its products available in over 2000 showrooms across India.

SGL’s state-of-the-art 81,000 sq ft manufacturing facility in Navi Mumbai, equipped with German and Italian machinery, has a processing capacity of 750 kg of gold per month. The company boasts a design library of over 500,000 designs of rings, bracelets, bangles, fancy pendants, earrings, and more. Sky Gold got listed on the BSE SME platform in October 2018 and migrated to the Mainboard of BSE and NSE in January 2023.

View original content:https://www.prnewswire.com/in/news-releases/sky-gold-reports-robust-results-for-1fy25-302224175.html

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The Next Frontier: Consciousness & UAP: $100,000 Research Prize Winner Announced

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The Institute of Noetic Sciences (IONS) has announced the winner of the 2026 Linda G. O’Bryant Noetic Sciences Research Prize, a $100,000 award that will fund a study of consciousness-associated Unidentified Anomalous Phenomena (UAP, formerly known as UFOs).

NOVATO, Calif., Nov. 5, 2026 /PRNewswire-PRWeb/ — The winning study, selected from more than 80 qualifying proposals, comes from a multidisciplinary team of six. Peter Skafish, PhD, a sociocultural anthropologist and Co-Founder and Executive Director of The Sol Foundation, leads the team as Principal Investigator. Brian Lord, PhD, a cognitive neuroscientist and postdoctoral researcher at the University of Arizona, serves as Co-Principal Investigator, and David Dominguez Hooper, engineer and Founder and CEO of ELDAEON Inc., is Co-Investigator. Collaborators are Damon Abraham, PhD (experimental psychologist, Entangled Labs); Jacob Haqq-Misra, PhD (astrobiologist, Blue Marble Space); and Garry Nolan, PhD (immunologist, Stanford University School of Medicine). For the first time in the prize’s four-year history, a single team will receive the full $100,000.

“IONS proved itself to be over the horizon of even heterodox thinking in their decision to fund a scientific inquiry not only into UAP but also into one of the most enigmatic questions the phenomena raise: what is their relationship to human consciousness?”–Peter Skafish

The team will organize a group of experienced practitioners to apply meditation and conscious intention to invite contact with UAP at a remote site in the American Southwest. Practitioners’ experiences will be recorded alongside physiological measures and instrumental records of the sky and the physical environment. Using preregistered methodology, the study will analyze the data to test whether deliberate contact practice generates changes in reported experiences and in independently recorded events in the sky and environment. De-identified data and methods will be shared openly, and null results will be released on the same schedule as positive ones.

According to IONS leadership, this year’s prize was created to bring UAP into open, consciousness-inclusive science, and to carry forward a question with profound implications for humanity that its founder, Apollo 14 astronaut Edgar Mitchell, pursued for decades: whether consciousness and contact are connected.

“The Sol Foundation couldn’t be more happy to receive the recognition of IONS for our research,” said Peter Skafish. “IONS proved itself to be over the horizon of even heterodox thinking in their decision to fund a scientific inquiry not only into UAP but also into one of the most enigmatic questions the phenomena raise: what is their relationship to human consciousness?”

This year, distinguished external experts, including Daniel P. Sheehan, Jessica Utts, Adam Curry, Sean Esbjörn-Hargens, Richard Dolan, and J.J. Hurtak, joined members of the IONS science team on the judging panel, chaired by Arnaud Delorme. The panel’s selection was then ratified by the IONS Board of Directors.

IONS researchers will collaborate with the winning team on the study, which is expected to begin in December and run for one year, with results to be shared in 2028. The winning team was announced on October 30 during a live event, which can be watched here.

More About IONS & the Linda G. O’Bryant Noetic Sciences Research Prize

The Institute of Noetic Sciences (IONS) is a nonprofit scientific research center whose mission is to reveal the interconnected nature of reality through scientific exploration and personal discovery. Founded in 1973 by Apollo 14 astronaut Edgar Mitchell, IONS investigates consciousness, interconnectedness, and extended human capacities to help foster a more compassionate and thriving world. The Linda G. O’Bryant Noetic Sciences Research Prize, now in its fourth year, is funded through an endowment created by Linda G. O’Bryant, member of the IONS Board of Directors, and overseen by the Board. To arrange an interview with Peter Skafish or IONS leadership, contact communications@noetic.org. More details about the prize and winners can be found here.

Media Contact

Leslie G. Lovejoy, Institute of Noetic Sciences (IONS), 1 707-775-3500, communications@noetic.org, www.noetic.org

View original content:https://www.prweb.com/releases/the-next-frontier-consciousness–uap-100-000-research-prize-winner-announced-302930915.html

SOURCE Institute of Noetic Sciences (IONS)

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Budget 2026 advances national electricity strategy, a downpayment on unlocking $3 trillion in economic growth

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Proposed tax credit extensions and support for industrial electrification and EV charging can help build more clean power and put it to work

OTTAWA, ON, Nov. 5, 2026 /CNW/ — New Economy Canada strongly supports the finalization and funding of Powering Canada Strong in Budget 2026 with a $50 billion commitment, marking an important step toward doubling Canada’s electricity supply by 2050. Budget 2026 puts electrification at the heart of Canada’s economy, ensuring energy security and affordability for businesses and households.  

Ian Bruce, President of New Economy Canada said:

“Today we are celebrating a critical win for Canada. By finalizing and funding Powering Canada Strong, the federal government has made electricity an economic priority.  Budget 2026’s $50B commitment to doubling the grid, including strengthening and extending the clean economy investment tax credits, is a significant step.

Budget 2026 puts an electrified economy at the heart of Canada’s economic strategy. We are glad to see the federal government recognize that building more clean electricity, electrifying more of our economy, and improving energy efficiency are some of the most effective ways to build a competitive, strong economy and ensure energy security for businesses and households alike.

Our economic report shows the opportunity on the table. Doubling electricity supply and doubling the share of energy that homes, businesses and industry meet with electricity could add more than $3 trillion cumulatively to Canada’s economy by 2050. Getting there will take sustained investment and a workforce that can build projects at the pace and scale we need.”

Why this matters:

Affordable, clean electricity can help Canada win investment, strengthen competitiveness, modernize manufacturing and create jobs. As Canada looks for new investors and trading partners in an electrifying global economy, its abundant, affordable and clean electricity is a competitive advantage.Doubling Canada’s electricity supply and putting it to work could unlock $3 trillion of economic opportunity for Canada and 1.6 million jobs.The budget’s extension of investment tax credits will support much-needed investment in generating and transmitting more electricity. And support for industrial electrification and EV charging will help businesses and households make greater use of that power.Every province stands to benefit, with cross-sectoral growth. Growth associated with an electrified economy spans all provinces and beyond electricity generation to services, mining, construction and more. 

New Economy Canada is a non-partisan initiative uniting 70+ companies, labour unions and Indigenous organizations, all committed to accelerating investment in Canada’s clean economy. Our partners employ or represent over 750,000 workers. https://neweconomycanada.ca 

SOURCE New Economy Canada

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East Side Games Group to Announce Third Quarter 2026 Financial Results

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VANCOUVER, BC, Nov. 5, 2026 /CNW/ — East Side Games Group (“ESGG” or the “Company”), Canada’s leading free-to-play mobile game group, will release its third quarter ended September 30th, 2026, after market close on November 12th. Following the release, the Company will host a conference call to review its performance with the investment community at 3:30pm PT (Western Canada), 2:30pm PT, 5:30pm ET on the same day.

Related earnings release materials can be found in the Investors section of ESGG’s website at https://eastsidegamesgroup.com/investors/financial-information/.

Conference Call Details:

Toll Free Dial-In Number:       (+1) 800 717 1738
Local Dial-In Number:            (+1) 289 514 5100
Conference ID:                       53358

A replay will be available by dialing (+1) 888 660-6264 or (+1) 289 819-1325 and entering passcode 53358#.

ABOUT EAST SIDE GAMES GROUP

ESGG is a leader in free-to-play mobile gaming, thrilling players with unforgettable experiences that spark lifelong fandom. Fueled by an entrepreneurial spirit, we are driven by creativity, flawless execution, and a laser-focused growth strategy. We develop and publish both original and licensed IP titles, license our cutting-edge GameKit(s) platforms, and strategically acquire studios or games to expand our family. Headquartered in Vancouver with around 80 talent-dense team members, we operate over a dozen titles under East Side Games (“ESG”) and LDRLY (Technologies) Inc. (“LDRLY”). Together, we’re crafting, launching, and publishing mobile games across our own studios and an extended Game Kit partner network–reaching players on iOS and Android worldwide.

We power our success through in-app purchases (“IAP”)–offering exclusive, game-enhancing virtual items–and in-game advertising. To keep growing, we focus on captivating audiences, keeping them engaged, and unlocking exciting new ways to monetize. We’ll drive this momentum by launching bold new titles, enriching our current lineup, innovating discovery, expanding into fresh markets and exploring new distribution platforms.

Additional information about the Company continues to be available under its legal name, East Side Games Group Inc., at www.sedar.com.

Forward-looking Information

Certain statements in this release are forward-looking statements, which reflect the expectations of management regarding the proposed transactions described herein. Forward-looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations or intentions regarding the future. Such statements are subject to risks and uncertainties that may cause actual results, performance or developments to differ materially from those contained in the statements. No assurance can be given that any of the events anticipated by the forward-looking statements will occur or, if they do occur, what benefits the Company will obtain from them. These forward-looking statements reflect management’s current views and are based on certain expectations, estimates and assumptions which may prove to be incorrect. A number of risks and uncertainties could cause our actual results to differ materially from those expressed or implied by the forward-looking statements, including factors beyond the Company’s control. These forward-looking statements are made as of the date of this news release.

SOURCE East Side Games Group Inc.

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