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Sky Gold & Diamonds Ltd. has strengthened its jewellery portfolio with the acquisition of a 100% stake in Purvi Gems & Jewellery (India) Private Limited, a company engaged in the manufacturing of uncut and precious jewellery and related products. The acquisition was completed on October 7, 2026, and is expected to help Sky Gold expand its lightweight and studded jewellery offerings while strengthening its presence across domestic and export markets.
The transaction was completed for a cash consideration of ₹9 crore, representing 1.5 times Purvi Gems’ book value as of March 31, 2026. The company said the transaction does not constitute a related-party transaction, with neither Sky Gold’s promoter nor promoter group having any interest in Purvi Gems. The existing management of Purvi Gems will continue to oversee the business, supporting continuity and integration.
Purvi Gems has established capabilities in specialised jewellery segments, with demand across markets including South India and international markets. The acquisition is expected to strengthen Sky Gold’s export business and enhance its presence in the higher-margin studded jewellery segment.
The acquisition is expected to provide Sky Gold with immediate entry into the lightweight uncut and precious jewellery segment, expanding its addressable market. It will also increase the company’s exposure to studded jewellery, potentially supporting a stronger product mix and improved profitability.
Purvi Gems has the potential to generate monthly sales of around 100 kg, providing additional scale and operational flexibility. Sky Gold also expects to leverage Purvi Gems’ product portfolio across its existing customer network to create cross-selling opportunities and increase wallet share.
The acquisition is also expected to support Sky Gold’s export growth, particularly through specialised products that have strong demand in international markets, including the Middle East.
Sky Gold said the acquisition provides access to an established business with specialised manufacturing capabilities, customer relationships and an experienced team. The company expects Purvi Gems to generate annual revenue of ₹1,600-1,800 crore over the next two to three years.
The acquisition forms part of Sky Gold’s strategy of pursuing selective inorganic opportunities, particularly in value-added jewellery categories with higher margins. The company has previously expanded through acquisitions across the chains, mangalsutra and bangle segments, while strengthening its manufacturing capabilities and customer base.
Among its previous acquisitions, Sparkling Chains’ turnover increased from ₹201 crore in FY2024 to ₹760 crore in FY2026, while PAT rose from ₹0.1 crore to ₹22.3 crore. Starmangalsutra’s turnover grew from ₹171 crore to ₹622 crore, with PAT increasing from ₹0.07 crore to ₹22.9 crore.
Speed Bangles reported turnover of ₹42 crore and PAT of ₹16.6 crore in FY2026, compared with ₹0.87 crore and ₹0.07 crore, respectively, in FY2025. Shri Rishabh Gold’s turnover increased from ₹49 crore to ₹175 crore during the period, while PAT rose from ₹1.60 crore to ₹18.8 crore.
With the Purvi Gems acquisition, Sky Gold aims to further diversify its product portfolio, expand its presence in high-growth jewellery categories and strengthen its domestic and international customer base.
Commenting on the development, Mangesh Chauhan, Managing Director, Sky Gold & Diamonds Ltd., said: “Strategic acquisitions have been an important driver of Sky Gold’s growth and value creation journey. Our disciplined approach to identifying and integrating businesses has helped us expand capabilities, diversify our product portfolio, improve operating efficiencies and strengthen profitability. Past acquisitions have contributed meaningfully to our scale and growth while creating long-term value for stakeholders. The acquisition of Purvi Gems is another step in this direction. The business brings complementary capabilities in the lightweight uncut and studded jewellery segments, an established customer base and a skilled team. Given our proven track record of successfully integrating acquisitions and realizing operational synergies, we are confident that Purvi Gems will further strengthen our growth platform and support sustainable long-term value creation.”
Commenting on the development, Jigar Mehta, Director Purvi Gems & Jewellery (India) Pvt. Ltd., said: Over the last fifteen years, we have built a strong reputation in lightweight, uncut, and Precia jewellery through our commitment to quality, craftsmanship, and customer relationships. We believe Sky Gold’s scale, manufacturing capabilities, extensive customer network, and proven track record of integrating and growing acquired businesses provide the ideal platform for the next phase of our growth.
With a focus on precision craftsmanship and innovative designs, Sky Gold and Diamonds Limited has established itself as a leading manufacturer of gold jewellery. Founded in 2008 and listed on both the BSE and NSE, the company operates a 1,50,000 sq. ft. advanced manufacturing facility in Navi Mumbai. The facility is equipped with German and Italian machinery and has an annual gold processing capacity of 14.4 tonnes.
