SKY GOLD AND DIAMONDS · forward-looking guidance across the available source record.
Guidance tracker
30-35% revenue growth driven by wallet share expansion in existing corporate clients (Malabar, GRT, PNG, Carat Lane, Reliance, Aditya Birla), distributor network build-out, and export growth to 30% (currently ~10%).
Conservative guidance with 9M FY26 already at 4.4%. 20% PAT conversion to operating cash flow expected. Interest cost of 1.2-2% of sales will decline with deleveraging.
Working capital cycle below 60 days by FY26 end, declining further. Advanced gold and export segments operate on spot payments or <10 day receivables, enhancing efficiency.
Company pivoting from volume to revenue focus due to gold price volatility. Blended gold rate assumption of Rs 1.04-1.05 lakh per 10 grams for planning. Mix includes 9K, 14K, 18K, 22K.
Annualized Q4 exit run rate of Rs 7,650 crore is already close to FY27 guidance, requiring minimal incremental working capital for growth.
Management targets 30-35% revenue CAGR with 27-28% volume growth plus additional contribution from advanced gold business expansion to 30% mix.
PAT margin expansion from current 4.5% to 5.25-5.75% by FY30, driven by advanced gold mix improvement (60-90 bps) and zero interest cost (200 bps).
Net debt reduction of 50% or more in FY27 through land sale monetization (expected August-September) and operational cash flow improvements.
Phase 3 growth will be funded entirely through internal cash generation, eliminating external capital requirements.