Q4 2024 Sky Gold Ltd Earnings Call Transcript
Key Points
- Sky Gold Ltd (BOM:541967) reported a significant year-on-year revenue growth of 90.2% for Q4 FY24, reaching INR 513.4 crores.
- The company has a clear vision to become India's leading jewelry manufacturer, with plans to expand both domestically and internationally.
- Sky Gold Ltd has made strategic acquisitions, including Starmangalsutra Private Limited and Sparkling Chains Private Limited, which are expected to contribute significantly to revenue growth.
- The company is investing in advanced manufacturing technologies and ERP systems to optimize production and improve inventory management.
- Sky Gold Ltd is focusing on increasing its export revenue share, aiming to grow it from low double digits to 30% by FY27.
- The company faces challenges in maintaining consistent gross margins due to product mix changes, with Q4 FY24 gross margin at 7.2%.
- Sky Gold Ltd's inventory days increased due to corporate orders received late in the quarter, indicating potential inefficiencies in inventory management.
- The company is heavily reliant on a few large corporate customers, which could pose a risk if these customers reduce their orders.
- There is significant competition in the jewelry manufacturing industry, which could impact Sky Gold Ltd's margins and market share.
- The transition to gold metal loans (GML) is still in progress, with only 7% of debt converted so far, which means the company is still incurring higher interest costs on working capital loans.
Ladies and gentlemen, good day, and welcome to the Sky Gold Limited Q4 FY24 earnings conference call. (Operator Instructions) Please note that this conference is being recorded.
I now hand the conference over to Mr. Parth Patel from Orient Capital. Thank you, and over to you, sir.
Thank you, Darwin. On behalf of Orient Capital, I welcome you all to Sky Gold Limited's Q4 and FY24 earnings con call.
From management side, we have Mr. Mangesh Chauhan, Managing Director and Chief Financial Officer; Mr. Darshan Chauhan, Whole-Time Director; Mr. Mahendra Chauhan, Whole-Time Director; Mr. Jayesh Sanghavi from the Finance team; and Mr. Nikita Jain, Company Secretary.
I hope everyone had an opportunity to go through our investor deck and press release that we have uploaded on exchanges and the company's website. A short disclaimer I would like to mention before we begin the call. This call may contain some of the forward-looking statements which are completely based upon a belief, opinion, and
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