Sky Gold and Diamonds MD, chairman and AGM
NSE: SKYGOLDBSE: 541967Consumer DurablesSmall Cap
Share price at the NSE close on 28 Oct 2026. Previous close ₹935.15.
28 Oct: open ₹935.15, high ₹935.20, low ₹762.60
- Under NSE's long-term additional surveillance, stage I, on the list for 28 Oct 2026. The exchange puts a share here when its price has moved unusually, and trading in it carries extra conditions.
- Market capMarket capitalisation. Share price times the number of shares: what the whole company is worth at the day's price. The rank is by average market value over the six months to Jun 2026, among listed companies. Market capitalisation: how it is worked out
- ₹13,293 Cr713th largest listed
- P/EPrice to earnings, trailing. Market cap divided by the profit of the last twelve months (the latest four quarters, or two half years for a company that reports half-yearly) that belongs to the company's own shareholders, after the share of the other owners of its subsidiaries: what investors pay for each rupee of a year's profit. Price to earnings, trailing: how it is worked out
- 33.58
- P/BPrice to book. Market cap divided by the net worth that belongs to the company's own shareholders, its assets less everything it owes and less the other owners' share of its subsidiaries, on its latest balance sheet. Price to book: how it is worked out
- 9.46
- Dividend yieldDividend yield. Dividends paid per share in the twelve months to the day, as a percentage of the day's share price.
- Nonein the last 12 months
- ROEReturn on equity. Profit over the last twelve months (the latest four quarters, or two half years for a company that reports half-yearly) that belongs to the company's own shareholders, as a percentage of their net worth, the money they have in the business. Net worth is the average of the latest balance sheet and the one a year before it.
- 32.4%
- ROCEReturn on capital employed. Operating profit after depreciation (revenue less operating expenses and depreciation, without other income and one-off items) as a percentage of all the money the business runs on: the whole group's net worth, the other owners of its subsidiaries included, plus borrowings. Lease liabilities are not counted: the results filings do not state them. The profit is over the last twelve months (the latest four quarters, or two half years for a company that reports half-yearly); net worth and borrowings are on the latest balance sheet.
- 24.8%
- Debt to equityDebt to equity. Borrowings divided by the whole group's net worth, the other owners of its subsidiaries included: rupees borrowed for each rupee of equity in the business. Lease liabilities are not counted: the results filings do not state them. From the balance sheet at the end of Sep 2026.
- 0.68
- Volume, NSEVolume. Shares traded on the last trading day; delivery is the part buyers kept rather than sold again the same day. Volume in the glossary
- 73,69,02432.0% delivered
Sky Gold and Diamonds' chairperson and managing director is Mangesh Ramesh Chauhan, as filed for the quarter to Sep 2026. Its latest annual general meeting was on 30 Sep 2026.
Sky Gold and Diamonds board of directors
At the end of the quarter to Sep 2026, as the company filed it; changes since are in its announcements.Their trades in its shares
- Chairperson and managing directorMangesh Ramesh Chauhan
- Company Secretary and Compliance OfficerNikita Jain
8 directors5 independent3 executive
- Mangesh Ramesh Chauhan · Chairperson and managing directorExecutive · joined May 2008 · reappointed Jul 2023 · 60 months as independent · 1 listed board · 1 committee seat
- Darshan Ramesh ChauhanExecutive · joined May 2008 · reappointed Jul 2023 · 60 months as independent · 1 listed board · 1 committee seat
- Mahendra Champalal ChauhanExecutive · joined May 2008 · reappointed Jul 2023 · 60 months as independent · 1 listed board · 1 committee seat
- Dilip Khushalchand GosarIndependent · joined Jul 2018 · reappointed Jul 2023 · 60 months as independent · 1 listed board · 1 as independent · 2 committee seats, 2 as chair
- Loukik Deepak TipnisIndependent · joined Aug 2018 · reappointed Sep 2023 · 60 months as independent · 1 listed board · 1 as independent · 2 committee seats, 1 as chair
- Kejal Niken ShahIndependent · joined Nov 2019 · reappointed Jun 2024 · 60 months as independent · 2 listed boards · 2 as independent
- Bharat Damodardas JhaveriIndependent · joined Nov 2024 · 60 months as independent · 1 listed board · 1 as independent
- Virupaksha KollaIndependent · joined Oct 2025 · 60 months as independent · 1 listed board · 1 as independent
An independent director has no business or family tie to the company, its promoters or its managers beyond the seat. Listed boards counts the boards of listed companies the director sits on, this one included, and "as independent" how many of those seats are independent ones. Committee seats are audit and stakeholder committee seats across those companies. Months as independent is filed for independent directors only, whose terms the rules cap. Disqualified is the company's own mark that a director may not serve under company law.
Committees and meetings
Who sits on each, and how often they met.Board meeting notices and outcomes
Board
- 18 Sep 20264 of 8 present2 independent · 12 days in between
- 5 Sep 20265 of 8 present2 independent · 26 days in between
- 9 Aug 20267 of 8 present4 independent · 60 days in between
- 9 Jun 20267 of 8 present4 independent · 12 days in between
2 earlier meetings
- 27 May 20268 of 8 present5 independent · 17 days in between
- 9 May 20268 of 8 present5 independent
Audit Committee
Chair Dilip Khushalchand Gosar
Loukik Deepak Tipnis, Mangesh Ramesh Chauhan, Kejal Niken Shah
- 18 Sep 20262 of 4 present2 independent
- 5 Sep 20263 of 4 present2 independent · no day in between
- 9 Aug 20263 of 4 present2 independent
- 9 Jun 20263 of 3 present2 independent · 12 days in between
2 earlier meetings
- 27 May 20263 of 3 present2 independent · 17 days in between
- 9 May 20263 of 3 present2 independent · 3 days in between
Nomination and remuneration committee
Chair Dilip Khushalchand Gosar
Kejal Niken Shah, Loukik Deepak Tipnis, Bharat Damodardas Jhaveri
- 18 Sep 20262 of 4 present2 independent · 12 days in between
- 9 Aug 20263 of 4 present3 independent · 8 days in between
- 9 Jun 20263 of 4 present3 independent
- 27 May 20264 of 4 present4 independent
1 earlier meeting
- 5 May 20263 of 4 present3 independent · no day in between
Stakeholders Relationship Committee
Chair Loukik Deepak Tipnis
Mahendra Champalal Chauhan, Darshan Ramesh Chauhan
No meeting listed in the filing.
Risk Management Committee
Chair Mangesh Ramesh Chauhan
Darshan Ramesh Chauhan, Mahendra Champalal Chauhan, Loukik Deepak Tipnis
- 9 Aug 20263 of 4 present0 independent
Corporate Social Responsibility Committee
Chair Mangesh Ramesh Chauhan
Darshan Ramesh Chauhan, Mahendra Champalal Chauhan, Loukik Deepak Tipnis
- 9 Aug 20263 of 4 present0 independent
Management Committee
Chair Mangesh Ramesh Chauhan
Darshan Ramesh Chauhan, Mahendra Champalal Chauhan
- 4 Sep 20263 of 3 present3 independent · 10 days in between
- 24 Aug 20263 of 3 present3 independent · 3 days in between
- 20 Aug 20263 of 3 present3 independent · 1 day in between
- 18 Aug 20263 of 3 present3 independent · 8 days in between
5 earlier meetings
- 31 Jul 20263 of 3 present3 independent · 17 days in between
- 13 Jul 20263 of 3 present3 independent · 19 days in between
- 23 Jun 20263 of 3 present3 independent · 13 days in between
- 4 May 20263 of 3 present0 independent · 13 days in between
- 20 Apr 20263 of 3 present0 independent
Qualified Institutional Placement
Chair Mangesh Ramesh Chauhan
Darshan Ramesh Chauhan, Mahendra Champalal Chauhan
No meeting listed in the filing.
Those Charged With Governance
Chair Mangesh Ramesh Chauhan
Darshan Ramesh Chauhan, Mahendra Champalal Chauhan, Dilip Khushalchand Gosar
No meeting listed in the filing.
TCWG Committee
- 9 Aug 20265 of 5 present2 independent
Meetings in the quarter filed and the one before it. The days in between are as the company files them, neither meeting's day counted; the rules allow at most 120. A quorum is the least number of members who must attend for the meeting to decide anything.
Statutory auditor
Named in the results for the quarter to Mar 2026.
- M/s. V J Shah & Co.Peer-review certificate valid to Jun 2028
A statutory auditor checks the company's accounts and signs its results. Peer review is the accountants' institute's check of an audit firm's own work, which a listed company's auditor must hold a valid certificate of.
Sky Gold and Diamonds AGM and shareholder votes
Each resolution, how the votes went, and how institutions voted apart from the promoters. A postal ballot is a vote by post or online, held without a meeting.Sky Gold and Diamonds dividend history
Annual general meeting, 30 Sep 2026
1,06,657 shareholders on the register on 23 Sep 2026; present: 9 promoters and 31 others; votes counted by Mr. Shivang Goyal / Shivang G Goyal & Associates.The company's voting result
To consider and adopt (a) the Audited Financial Statement of the Company for the financial year ended March 31,2026, and the reports of the Board of Directors and Auditors thereon; and (b) the Audited Consolidated Financial Statement of the Company for the financial year ended March 31, 2026, and the report of Auditors thereon:MoreLess
Ordinary93.07% for6.93% againstAgainst: promoters 0.00% · institutions 37.89% · other public 0.00%
Turnout: all 64.95% · promoters 100.00% · institutions 70.09% · other public 4.26%
- To re-appoint Mr. Mahendra Champalal Chauhan (DIN: 02138084) who retires by rotation as a Director (Whole-time Director)Ordinary99.99% for0.01% against
Against: promoters 0.00% · institutions 0.06% · other public 0.01%
Turnout: all 64.95% · promoters 100.00% · institutions 70.09% · other public 4.26%
To consider and approve the re-appointment of M/s M S K A & Associates LLP (Formerly known as M S K A & Associates), Chartered Accountants (Firm Registration No. 105047W/W101187), as Statutory Auditors of the Company.MoreLess
Ordinary100.00% for0.00% againstAgainst: promoters 0.00% · institutions 0.00% · other public 0.00%
Turnout: all 64.95% · promoters 100.00% · institutions 70.09% · other public 4.26%
For and against are per cent of the votes cast. Turnout is the votes cast as a per cent of the shares each group holds. Institutions are funds, insurers, banks and foreign investors. An ordinary resolution passes with more than half the votes cast, a special one with at least three quarters.
Postal ballot, 26 Jun 2026, 1 resolution
80,839 shareholders on the register on 22 May 2026; votes counted by Shivang Goyal / Shivang G Goyal & Associates.The company's voting result
Appointment of M/s. M S K A & Associates LLP (Formerly known as M S K A & Associates), Chartered Accountants (Firm Registration No: 105047W/W101187), as the Statutory Auditors of the Company to fill the casual vacancy caused by the resignation of M/s. V J Shah & Co., Chartered AccountantsMoreLess
Ordinary99.75% for0.25% againstAgainst: promoters 0.00% · institutions 0.72% · other public 1.83%
Turnout: all 69.01% · promoters 100.00% · institutions 91.76% · other public 12.14%
For and against are per cent of the votes cast. Turnout is the votes cast as a per cent of the shares each group holds. Institutions are funds, insurers, banks and foreign investors. An ordinary resolution passes with more than half the votes cast, a special one with at least three quarters.
Postal ballot, 13 Dec 2025, 4 resolutions
98,923 shareholders on the register on 7 Nov 2025; votes counted by Shivang Goyal / Shivang G Goyal & Associates.The company's voting result
- Appointment of Mr. Virupakshi Kolla (DIN: 11324602) as the Non Executive Independent Director of the CompanySpecial100.00% for0.00% against
Against: promoters 0.00% · institutions 0.00% · other public 0.01%
Turnout: all 65.69% · promoters 100.00% · institutions 84.27% · other public 11.35%
- To increase the Borrowing Powers of the Company under section 180(1)(c) of the Companies Act, 2013.Special99.97% for0.03% against
Against: promoters 0.00% · institutions 0.17% · other public 0.10%
Turnout: all 65.69% · promoters 100.00% · institutions 84.27% · other public 11.35%
- To Create a charge on the movable and immovable properties of the Company, both present and future under section 180(1)(a) of the Companies Act, 2013.Special99.97% for0.03% against
Against: promoters 0.00% · institutions 0.17% · other public 0.10%
Turnout: all 65.69% · promoters 100.00% · institutions 84.27% · other public 11.35%
To increase the limits for giving loans or guarantees or providing securities in connection with the loan made to any other body corporate or person or making investments under section 186 of the Companies Act, 2013.MoreLess
Special89.68% for10.32% againstAgainst: promoters 0.00% · institutions 69.18% · other public 0.17%
Turnout: all 65.69% · promoters 100.00% · institutions 84.27% · other public 11.35%
For and against are per cent of the votes cast. Turnout is the votes cast as a per cent of the shares each group holds. Institutions are funds, insurers, banks and foreign investors. An ordinary resolution passes with more than half the votes cast, a special one with at least three quarters.
Annual general meeting, 27 Sep 2025, 4 resolutions
1,06,626 shareholders on the register on 20 Sep 2025; present: 9 promoters and 23 others; votes counted by Mr. Shivang Goyal / Shivang G Goyal & Associates.The company's voting result
To consider and adopt (a) the Audited Financial Statement of the Company for the financial year ended March 31, 2025, and the reports of the Board of Directors and Auditors thereon; and (b) the Audited Consolidated Financial Statement of the Company for the financial year ended March 31, 2025, and the report of Auditors thereonMoreLess
Ordinary99.82% for0.18% againstAgainst: promoters 0.00% · institutions 1.25% · other public 0.00%
Turnout: all 60.65% · promoters 100.00% · institutions 94.99% · other public 0.24%
- To re-appoint Mr. Darshan Ramesh Chauhan (DIN: 02138075), who retires by rotation as a Director (Whole-timeDirector)Ordinary100.00% for0.00% against
Against: promoters 0.00% · institutions 0.00% · other public 0.08%
Turnout: all 60.65% · promoters 100.00% · institutions 94.99% · other public 0.24%
- To consider and approve the re-appointment of M/s V J Shah & Co., Chartered Accountants (Firm Registration No.109823W), as Statutory Auditors of the Company.Ordinary97.01% for2.99% against
Against: promoters 0.00% · institutions 20.58% · other public 1.20%
Turnout: all 60.65% · promoters 100.00% · institutions 94.99% · other public 0.24%
- Appointment of M/s Shivang G Goyal & Associates, Practising Company Secretary (FCS No. 11801, CP No. 24679), as the Secretarial Auditor of the Company for a term of five consecutive years.Ordinary99.82% for0.18% against
Against: promoters 0.00% · institutions 1.25% · other public 0.12%
Turnout: all 60.65% · promoters 100.00% · institutions 94.99% · other public 0.24%
For and against are per cent of the votes cast. Turnout is the votes cast as a per cent of the shares each group holds. Institutions are funds, insurers, banks and foreign investors. An ordinary resolution passes with more than half the votes cast, a special one with at least three quarters.
Postal ballot, 21 May 2025, 1 resolution
83,719 shareholders on the register on 18 Apr 2025; votes counted by Shivang G Goyal / Shivang G Goyal & Associates.The company's voting result
- To Offer, Issue, and Allot Equity Shares (Other Than Cash) on a Preferential Basis.Special98.39% for1.61% against
Against: promoters 0.00% · institutions 18.90% · other public 1.22%
Turnout: all 60.69% · promoters 95.11% · institutions 68.44% · other public 0.58%
For and against are per cent of the votes cast. Turnout is the votes cast as a per cent of the shares each group holds. Institutions are funds, insurers, banks and foreign investors. An ordinary resolution passes with more than half the votes cast, a special one with at least three quarters.
Postal ballot, 18 Feb 2025, 5 resolutions
73,016 shareholders on the register on 10 Jan 2025; votes counted by Shivang Goyal / Shivang G Goyal & Associates.
- Appointment of Mr. Bharat Jhaveri as the Non-Executive – Independent Director of the CompanySpecial100.00% for0.00% against
Against: promoters 0.00% · institutions 0.00% · other public 1.42%
Turnout: all 63.39% · promoters 100.00% · institutions 65.24% · other public 0.33%
- Approval for Increase in the Remuneration Limit of Mr. Mangesh Chauhan, Managing Director and CFOSpecial100.00% for0.00% against
Against: promoters 0.00% · institutions 0.00% · other public 2.01%
Turnout: all 63.39% · promoters 100.00% · institutions 65.24% · other public 0.33%
- Approval for Increase in the Remuneration Limit of Mr. Darshan Chauhan, Whole-Time DirectorSpecial100.00% for0.00% against
Against: promoters 0.00% · institutions 0.00% · other public 2.00%
Turnout: all 63.39% · promoters 100.00% · institutions 65.24% · other public 0.33%
- Approval for Increase in the Remuneration Limit of Mr. Mahendra Chauhan, Whole-Time DirectorSpecial100.00% for0.00% against
Against: promoters 0.00% · institutions 0.00% · other public 2.03%
Turnout: all 63.39% · promoters 100.00% · institutions 65.24% · other public 0.33%
Change in Name of the Company from “Sky Gold Limited” to “Sky Gold and Diamonds Limited” and Consequential Alteration to Memorandum of Association (“MOA”) and Articles of Association (“AOA”) of the CompanyMoreLess
Special100.00% for0.00% againstAgainst: promoters 0.00% · institutions 0.00% · other public 0.03%
Turnout: all 63.39% · promoters 100.00% · institutions 65.24% · other public 0.33%
For and against are per cent of the votes cast. Turnout is the votes cast as a per cent of the shares each group holds. Institutions are funds, insurers, banks and foreign investors. An ordinary resolution passes with more than half the votes cast, a special one with at least three quarters.
Postal ballot, 26 Nov 2024, 2 resolutions
- To increase the Authorised Share Capital of the Company and Consequential Amendment in the Memorandum of Association of the CompanyOrdinary100.00% for0.00% against
Against: promoters 0.00% · institutions 0.00% · other public 0.00%
Turnout: all 59.64% · promoters 100.00% · institutions 11.32% · other public 0.83%
- Issuance of Bonus Equity SharesOrdinary100.00% for0.00% against
Against: promoters 0.00% · institutions 0.00% · other public 0.00%
Turnout: all 59.64% · promoters 100.00% · institutions 11.32% · other public 0.83%
For and against are per cent of the votes cast. Turnout is the votes cast as a per cent of the shares each group holds. Institutions are funds, insurers, banks and foreign investors. An ordinary resolution passes with more than half the votes cast, a special one with at least three quarters.
Annual general meeting, 30 Sep 2024, 2 resolutions
Present: 9 promoters and 25 others.
To consider and adopt (a) the Audited Financial Statement of the Company for the financial year ended March 31, 2024, and the reports of the Board of Directors and Auditors thereon; and (b) the Audited Consolidated Financial Statement of the Company for the financial year ended March 31, 2024, and the report of Auditors thereonMoreLess
Ordinary100.00% for0.00% againstAgainst: promoters 0.00% · institutions 0.00% · other public 0.15%
Turnout: all 62.69% · promoters 100.00% · institutions 0.00% · other public 0.48%
- To re-appoint Mr Mahendra Chauhan (DIN: 02138084), who retires by rotation as a Director (Whole-time Director).Ordinary100.00% for0.00% against
Against: promoters 0.00% · institutions 0.00% · other public 0.01%
Turnout: all 62.69% · promoters 100.00% · institutions 0.00% · other public 0.48%
For and against are per cent of the votes cast. Turnout is the votes cast as a per cent of the shares each group holds. Institutions are funds, insurers, banks and foreign investors. An ordinary resolution passes with more than half the votes cast, a special one with at least three quarters.
How mutual funds voted
Fund houses must disclose how they vote at every meeting of a company they hold.Funds that hold it
Mutual fund votes, meeting of 30 Sep 2026, 10 fund houses
To consider and adopt (a) the Audited Financial Statement of the Company for the financial year ended March 31,2026, and the reports of the Board of Directors and Auditors thereon; and (b) the Audited Consolidated Financial Statement of the Company for the financial year ended March 31, 2026, and the report of Auditors thereon:MoreLess
Against Angel One Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual Fund, Navi Mutual Fund, Trust Mutual Fund
- Angel One Mutual FundNon-disclosure of the audited financial statements of Subsidiaries for FY 2025-26 on the website of the Company.
- Groww Mutual Fund, Motilal Oswal Mutual Fund, Navi Mutual Fund, Trust Mutual FundUnqualified financial statements. Non-Compliant with S. 136(1) of the Companies Act & Regulation 46(2)(s) of SEBI LODR: Nondisclosure of the audited financial statements of Subsidiaries for FY 2025-26 on the website of the Company.
5 for5 against- To re-appoint Mr. Mahendra Champalal Chauhan (DIN: 02138084) who retires by rotation as a Director (Whole-time Director)10 for0 against
To consider and approve the re-appointment of M/s M S K A & Associates LLP (Formerly known as M S K A & Associates), Chartered Accountants (Firm Registration No. 105047W/W101187), as Statutory Auditors of the Company.MoreLess
10 for0 against
Mutual fund votes, meeting of 26 Jun 2026, 8 fund houses
Appointment of M/s. M S K A & Associates LLP (Formerly known as M S K A & Associates), Chartered Accountants (Firm Registration No: 105047W/W101187), as the Statutory Auditors of the Company to fill the casual vacancy caused by the resignation of M/s. V J Shah & Co., Chartered AccountantsMoreLess
8 for0 against
Mutual fund votes, meeting of 13 Dec 2025, 7 fund houses
4 proposals
- Appointment of Mr. Virupakshi Kolla (DIN: 11324602) as the Non Executive Independent Director of the Company7 for0 against
- To increase the Borrowing Powers of the Company under section 180(1)(c) of the Companies Act, 2013.7 for0 against
- To Create a charge on the movable and immovable properties of the Company, both present and future under section 180(1)(a) of the Companies Act, 2013.7 for0 against
To increase the limits for giving loans or guarantees or providing securities in connection with the loan made to any other body corporate or person or making investments under section 186 of the Companies Act, 2013.MoreLess
Against Angel One Mutual Fund, Bandhan Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual Fund, Navi Mutual Fund
- Angel One Mutual FundGovernance Concern: Blanket approval is being sought without adequate disclosures – No details have been provided with regards to the recipient Company, or the duration for which the approval is being sought.
- Bandhan Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual Fund, Navi Mutual FundCompliant with law. Governance Concern: Blanket approval is being sought without adequate disclosures – No details have been provided w.r.t. the recipient Company, or the duration for which the approval is being sought.
2 for5 against
Mutual fund votes, meeting of 27 Sep 2025, 3 fund houses
4 proposals
To consider and adopt (a) the Audited Financial Statement of the Company for the financial year ended March 31, 2025, and the reports of the Board of Directors and Auditors thereon; and (b) the Audited Consolidated Financial Statement of the Company for the financial year ended March 31, 2025, and the report of Auditors thereonMoreLess
Against Navi Mutual Fund
- Navi Mutual FundUnqualified financial statements (Except a non-material Remark on CARO relating to title deeds of immovable property). NonCompliant with Companies Act, 2013 & SEBI LODR Regulations: The Company has not disclosed financial statements of subsidiaries for FY 2024-25 on its website.
2 for1 against- To re-appoint Mr. Darshan Ramesh Chauhan (DIN: 02138075), who retires by rotation as a Director (Whole-timeDirector)3 for0 against
- To consider and approve the re-appointment of M/s V J Shah & Co., Chartered Accountants (Firm Registration No.109823W), as Statutory Auditors of the Company.
Against Navi Mutual Fund
- Navi Mutual FundNo concern on the merits of the proposed Statutory Auditors. Non-Compliant with Regulation 36(5) of SEBI LODR: Proposed audit fee payable to Statutory Auditors not disclosed. Non-Compliant with Section 139 of Companies Act: Total Association will exceed 10 years.
2 for1 against - Appointment of M/s Shivang G Goyal & Associates, Practising Company Secretary (FCS No. 11801, CP No. 24679), as the Secretarial Auditor of the Company for a term of five consecutive years.
Against Navi Mutual Fund
- Navi Mutual FundNo concern on the merits of the proposed Secretarial Auditors. Non-Compliant with Regulation 36(5) of SEBI LODR: Proposed audit fee payable to Secretarial Auditors not disclosed.
2 for1 against
Mutual fund votes, meeting of 21 May 2025, 2 fund houses
1 proposal
- To Offer, Issue, and Allot Equity Shares (Other Than Cash) on a Preferential Basis.
Against Bank of India Mutual Fund
- Bank of India Mutual FundThe issuance will lead to a dilution of 4.0% on expanded capital base as on 31 March 2025. The objective of the issue is to acquire (100%) 10,000 equity shares of Ganna N Gold Private Limited (for a consideration not exceeding Rs. 2.25 bn), held by Jinesh Ganna and Vikas Ganna. Ganna N Gold is a jewellery manufacturing company specializing in gold bangles. As per Sky Gold's April press release, the acquisition will enable the company to meet 75% of the gold jewellery retail demand, enhance its product portfolio and improve profitability. However, we raise several concerns with the valuation and financial position of Ganna N Gold. The valuation report has used both - a DCF valuation and comparable companies method. The DCF valuation arrives at an Enterprise Valuation (EV) of Rs. 3,139.4 mn, which is almost twice the EV of Rs. 1,642.9 mn, through the comparable companies method. Further, the company’s press release indicates an FY25 turnover of Rs. 850 mn, while the projected FY26 revenue is Rs. 290.0 mn – the rationale for this sharp drop is unclear. The company must clarify the reason for these discrepancies. Given the concerns over differences in valuation and financial numbers, we do not support the resolution.
1 for1 against
Mutual fund votes, meeting of 18 Feb 2025, 2 fund houses
5 proposals
- Appointment of Mr. Bharat Jhaveri as the Non-Executive – Independent Director of the Company2 for0 against
- Approval for Increase in the Remuneration Limit of Mr. Mangesh Chauhan, Managing Director and CFO2 for0 against
- Approval for Increase in the Remuneration Limit of Mr. Darshan Chauhan, Whole-Time Director2 for0 against
- Approval for Increase in the Remuneration Limit of Mr. Mahendra Chauhan, Whole-Time Director2 for0 against
Change in Name of the Company from “Sky Gold Limited” to “Sky Gold and Diamonds Limited” and Consequential Alteration to Memorandum of Association (“MOA”) and Articles of Association (“AOA”) of the CompanyMoreLess
2 for0 against
Mutual fund votes, meeting of 26 Nov 2024, 2 fund houses
2 proposals
- To increase the Authorised Share Capital of the Company and Consequential Amendment in the Memorandum of Association of the Company2 for0 against
- Issuance of Bonus Equity Shares2 for0 against
Each fund house counted once, from its own disclosure; the reasons are its own words.
Investor complaints and compliance
Quarter by quarter.
Investor complaints received and resolved, the company's own count
- Received
- Resolved
Open at the quarter's end
- The board is made up as the listing rules require
- Yes
- The board has a regular chairperson
- Yes
- The company has a risk management committee
- Yes
- The chair is related to the managing director
- Yes
- The filing has a part on fines and penalties
- No
- The filing has a part on tax disputes
- No
- There was a cyber security incident in the quarter
- No
The company's own answers in its filing.
How money raised was used
Reported for the quarter to Jun 2025. The company's results filing for the quarter to Sep 2026 says no statement of how money raised was used applies to it. A preferential issue sells new shares to chosen investors rather than to the public. A warrant or partly paid issue plans the whole issue while the money comes in over time, so the amount set aside can be more than raised so far.
| Raised | Amount raised | For | Set aside | Spent | Spent elsewhere |
|---|---|---|---|---|---|
| Preferential IssuesJan 2024 | 0.21 | Working capital requiremen | 0.17 | 0.17 | No |
| Preferential IssuesJan 2024 | 0.21 | General Corporate Purpose | 0.04 | 0.04 | No |