Sky Gold and Diamonds said that its board has approved to establish a wholly owned subsidiary (WOS) in Dubai (UAE), positioning itself for significant export growth.
The company is a leading Indian jewelry manufacturer specializing in lightweight gold and diamond-studded pieces, is actively implementing strategies to drive export growth. Recognizing the strong demand for high quality jewelry in the Middle East, particularly in Dubai (UAE), the company has identified the region as a key market.The company plans to open a B2B office in Dubai (UAE) to increase the export revenue. Through targeted market expansion and product diversification, the company is strengthening its international presence.
The company along with its nominee will subscribe 100% share capital of the proposed WOS. The incorporation is expected to be completed within 2 to 3 months, subject to relevant approvals.
Sky Gold is engaged in the business of designing, manufacturing, and marketing gold jewellery. The co. follows a B2B model where the products are mainly sold to mid-range jewellers and boutique stores who sell these products through online platforms and retail stores
The companys consolidated net profit soared 309.2% to Rs 36.54 crore as compared with Rs 8.93 crore in Q3 FY24. Net sales jumped 116.7% YoY to Rs 997.97 crore in Q3 FY25.
The counter added 2.96% to end at Rs 335.90 on Wednesday, 02 April 2025.
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