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Sky Gold and Diamonds shares fell 5.25 per cent to ₹331.30 on Tuesday afternoon, despite the company posting robust third-quarter earnings that beat analyst expectations. The stock traded in a range between ₹325.20 and ₹354.40, with over 16 lakh shares changing hands by early afternoon.
The Mumbai-based B2B gold jewellery manufacturer reported a 77 per cent year-on-year revenue jump to ₹1,768 crore for Q3 FY26 ended December 31, 2025. Profit after tax more than doubled to ₹80.53 crore, up 120 per cent from the same period last year, with EBITDA margins expanding to 7.34 per cent.
The company’s nine-month performance showed similar momentum, with revenues rising 76 per cent to ₹4,383 crore and PAT surging 102 per cent to ₹191 crore. Managing Director Mangesh Chauhan attributed the growth to sustained demand across domestic and export markets, despite elevated gold prices and periodic volatility.
Market participants appear cautious despite the strong numbers, with selling pressure dominating—73 per cent of trades were on the sell side versus 27 per cent buys. Deliverable volumes stood at about 51 per cent of total traded quantity, suggesting some genuine shareholder exits rather than purely speculative trading.
The stock has climbed 967 per cent over three years but remains about 17 per cent below its 52-week high of ₹400.95 reached in May 2025. Year-to-date, shares are marginally down 0.63 per cent.
Sky Gold recently expanded its Middle East presence with a Dubai office inauguration and acquired a 51 per cent stake in Shri Rishab Gold through its subsidiary. The company also announced that promoters will draw compensation solely through dividends from FY27, aligning their interests with cash flow generation.
With a market capitalization of ₹5,131 crore and trading at a P/E ratio of 23.62, the stock’s afternoon decline suggests profit-booking after recent gains.
Published on February 10, 2026
English (US) ·