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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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ASTRI Establishes Advisory Board for Smart Mobility Technology Alliance

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November 6, 2026

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Bringing Together Industry, Academia and Research to Drive Mobility Innovation

HONG KONG, Nov. 6, 2026 /PRNewswire/ — The Hong Kong Applied Science and Technology Research Institute (ASTRI) announced the establishment of an Advisory Board for the Smart Mobility Technology Alliance (SMTA), an industry-leading initiative designed to accelerate the adoption and scaling of next-generation smart mobility technologies across the Greater Bay Area and beyond. The SMTA aims to address critical challenges and foster a commercially-driven ecosystem for innovation in the smart mobility sector.

The newly-formed Advisory Board comprises distinguished leaders from infrastructure, transport, telecommunications, and academia, offering a wide-ranging blend of industry expertise, market intelligence and policy insight. Drawing on their extensive network and experience across the public and private sectors, the Advisory Board will shape the SMTA’s strategic priorities, identify emerging opportunities, and provide guidance on the evolving mobility landscape.

“The formation of the SMTA Advisory Board underscores ASTRI’s commitment to advancing Hong Kong as a regional leader in technology-driven mobility,” said Ir Dr Ted Suen, Chief Executive Officer of ASTRI. “By uniting industry, government, academia and research around a shared vision, this strategic alliance will unlock commercial opportunities and deliver transformative solutions that redefine the future of mobility,” he added.

The Advisory Board provides strategic guidance on SMTA’s vision and research and development priorities, helping to align its initiatives with market needs and commercialisation opportunities. It supports ecosystem development by fostering partnerships across industry, academia and the public sector, while facilitating pilot projects and encouraging innovation and entrepreneurship. The Board also offers insights on policy and standards, and promotes engagement with key stakeholders and international partners to advance future mobility innovation.

Members of the Advisory Board for Smart Mobility Technology Alliance include:

Chairman

Dr Ying Huang, Chief Technology Officer, ASTRI

Deputy Chairman

Mr Dominic Chow, Deputy Director-General of Civil Aviation, HKSAR Government

Secretary

Dr Ivan Sham, Chief Director, Technical Solutions Business Development, ASTRI

Members (by alphabetical order in surname)

Mr Lawrence Fong, Director, Digital and IT, Cathay Pacific Airways LimitedMr William Ho, Executive Director, Corporate Development, Airport Authority Hong KongIr Dr John Hui, Deputy Executive Director, Vocational Training CouncilMr Ryan Ip, Vice President of Our Hong Kong FoundationProf Mei-po Kwan, Director, Institute of Space and Earth Information Science, The Chinese University of Hong KongDr Gabriel Leung, Chief Executive Officer, Enterprise Solutions, Hong Kong Broadband Network LimitedMr Roger Ma, General Manager (Operations), Citybus LimitedMr Steve Ng, Managing Director, Commercial Group, HKT LimitedMs Sylvia Ng, Deputy Director, Corporate Development, MTR Corporation LimitedMr BY Sim, General Manager (Hong Kong SAR), Thales Solutions and Services Hong Kong LimitedMr Alex Wong, Deputy CEO, Corporate Affairs, Hong Kong Representative Office, Huawei International Co LimitedDr Rosana Wong, Deputy Chair and Executive Director, Yau Lee Holdings LimitedMs Yan Yan, General Manager, Keeta Drone Hong KongMs Theresa Yeung, Managing Principal, East Asia, Ove Arup & Partners Hong Kong Limited

Launched by ASTRI in April 2023, the Smart Mobility Technology Alliance (formerly the Smart Mobility Technology (C-V2X) Alliance) provides a networking and knowledge sharing platform for ecosystem stakeholders. These include infrastructure manufacturers, telecommunications providers, EV and drone developers, system integrators, and end users from China, in particular the Greater Bay Area, and overseas markets, all seeking to explore collaboration and technology commercialisation in the smart mobility field.

SMTA Website: https://smta.astri.org/

Photos Download: https://bit.ly/4s0M9ex

 

About ASTRI

Founded in 2000 by the HKSAR Government, Hong Kong Applied Science and Technology Research Institute (ASTRI) is the city’s largest government-funded R&D centre. Committed to transforming high-impact research into practical innovations, ASTRI drives market-driven, interdisciplinary advancements across sectors, including Smart City, FinTech, Digital Health and Life Sciences, New Industrialisation and Intelligent Manufacturing, Application-Specific Integrated Circuits (ASIC) and Advanced Electronics, New Energy and Energy Storage, and Green and ESG Technologies. Following its merger with the Nano and Advanced Materials Institute, ASTRI has further strengthened its capabilities, with over 1,500 patents and 2,200 successful cases of technology transfer. Recognised with numerous international awards, ASTRI continues to nurture top I&T talent and foster collaborations among the I&T ecosystem, contributing to Hong Kong’s high-value economic development. For more information, please visit: https://www.astri.org

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SOURCE Hong Kong Applied Science and Technology Research Institute (ASTRI)

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2026 World Internet Conference Wuzhen Summit Opens

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November 6, 2026

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WUZHEN, China, Nov. 5, 2026 /PRNewswire/ — A news report from CRI Online

The 2026 World Internet Conference (WIC) Wuzhen Summit opened on November 3 in Wuzhen, Tongxiang City in Zhejiang Province, under the theme “Open Source and Openness, Joined Contribution and Shared Benefits — Jointly Building a Community With a Shared Future in Cyberspace”. Approximately 1,800 participants attended the opening ceremony, including government officials from various countries, heads of international organizations such as the United Nations, representatives of global Internet companies, and experts and scholars.

View original content to download multimedia:https://www.prnewswire.com/news-releases/2026-world-internet-conference-wuzhen-summit-opens-302931703.html

SOURCE CRI Online

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Forum on Exchanges and Mutual Learning among Civilizations in Cyberspace held at 2026 WIC Wuzhen Summit

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November 6, 2026

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WUZHEN, China, Nov. 6, 2026 /PRNewswire/ — A news report from CRI Online:

The Forum on Exchanges and Mutual Learning among Civilizations in Cyberspace was held in Wuzhen, east China’s Zhejiang Province, on November 4 as part of the 2026 World Internet Conference (WIC) Wuzhen Summit.

Themed “Deepening Exchanges and Mutual Learning among Civilizations, Building a Better Online Home Together,” the forum aimed to promote the Global Civilization Initiative and advance exchanges among civilizations in cyberspace, contributing to a community with a shared future in cyberspace.

Yang Jianwen, deputy director of the Cyberspace Administration of China; Hu Wei, vice governor of Zhejiang Province; and Peng Jianming, a member of China Media Group’s editorial board, delivered opening remarks.

Keynote speakers shared achievements and practical experience in digital cultural heritage preservation and development, international youth exchanges and talent development, cross-cultural communication by mainstream media, and film and television production.

A roundtable discussion explored “Co-Creating Diverse Online Content, Unlocking New Paradigms for Dialogue among Civilizations.”

The forum also launched the “Initiative for Improvement of Minors’ Internet Literacy.” Representatives from the Cyberspace Administration of China’s Bureau of Internet Social Work, the Ministry of Education’s Department of Basic Education, the ministry’s Center for Educational Technology and Resource Development, and Tencent, together with Peking University experts, jointly launched the initiative.

The micro variety show project “Civilizations in Conversation” was also unveiled. A Chinese opera artist and a British performer of Chinese opera jointly presented “Shared Operatic Charm: Face-Changing Show Featuring a Foreign ‘Monkey King'” during an intangible cultural heritage showcase.

Hosted by China Media Group and co-organized by CRI Online, Huawei and RayNeo, the forum attracted more than 120 participants, including government officials, experts and scholars in online culture, technology company executives, and prominent online personalities.

View original content to download multimedia:https://www.prnewswire.com/apac/news-releases/forum-on-exchanges-and-mutual-learning-among-civilizations-in-cyberspace-held-at-2026-wic-wuzhen-summit-302931738.html

SOURCE CRI Online

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