Dear Shareholders,
As we conclude the financial year 2023-2024, It is with great honor and
privilege that I present to you our 16th Annual Report for FY 2023-24 of Sky Gold Limited.
India, the world's second-largest consumer of gold jewelry, has
experienced rapid change over the last few years due to evolving demographics. In the
modern world, absolutely no one can ignore the importance of jewelry. Gold is intrinsic to
Indian culture, closely tied to religious beliefs, traditions, and festivals. Jewelry
serves as a crucial fashion item and enhances the overall appearance. Focusing on the
impact of religion and festivals, gold is often seen as a symbol of wealth and prosperity.
At Sky Gold Limited, wego beyond being manufacturers; we are creators
of timeless pieces, and our commitment to excellence resonates in every facet of our
craftsmanship. Throughout the journey, Sky Gold Limited has consistently demonstrated
resilience, evolution, and a commitment to excellence, making it a prominent and respected
name in the industry.
Sky Gold Limited provides Wholesale jewelry in India and has
unparalleled expertise and understanding of gems and jewelry. We are one of the most
trusted jewelry distributors with a ravishing collection of jewelry for all occasions to
fulfill all your jewelry requirements. Compromising with quality has never been in our
values since the beginning. We emerged more resilient and reinvigorated, and our
confidence in our capabilities is reflected not only in our numbers but also in the trust
placed in us. I am grateful to our clients, team members, and other stakeholders for their
relentless collaboration to make this happen.
This year has been a remarkable year for all of us here at Sky Gold
Limited. During the financial year 2023-24, our revenue stood at Rs. 1,74,548.42 lakhs
which is increased by 51.28% as compared to the previous Financial Year 2022-23 amounting
to Rs. 1,15,380.07 lakhs. We expect to prosper exponentially more than what we have
achieved in the past 16 years. Going forward, we shall continue to remain vigilant in
ensuring that our balance sheet remains strong.
During the Financial Year 2023-24, the Company has brought in new
investors by issuing 23,32,800 Equity Shares and 1,76,400 Equity Share Warrants through a
Preferential Issue.
I believe that, unlike other fashion, jewels the gold designs are made
with utmost concentration because they should do value to the gold price and we have a
capable team with artistic, fresh, active, and creative minds at Sky Gold Limited to
create gold jewelry designs of the finest quality in an optimized way. Our approach to
allocating capital considers the appropriate balance between investments, and growth,
which allows the Company to retain a strong financial position that helps in taking
advantage of many opportunities.
| Mangesh Chauhan |
| Chairman & Managing Director |