Acquisitions22 Jun 2024, 05:27 pm
Sky Gold Ltd Acquires Starmangalsutra and Sparkling Chains for Rs. 49.98 Crores, Aims to Boost Margins and Revenue
AI Summary
Sky Gold Ltd, a leading Indian jewellery company, has announced the acquisition of Mumbai-based Starmangalsutra Private Limited and Sparkling Chains Private Limited. The company has acquired 100% stake in both companies for an aggregate consideration of Rs. 49.98 crores. The acquisition is expected to enhance Sky Gold's margins, increase its product portfolio, and drive growth and innovation. The company anticipates a 50-75 basis points increase in its EBITDA margin and a boost in its PAT margin to 3% within the next 12 - 18 months. The acquisition is also expected to contribute to Sky Gold's revenue target of INR 6300 crores by FY27.
Key Highlights
- Sky Gold Ltd acquires 100% stake in Starmangalsutra Private Limited and Sparkling Chains Private Limited for Rs. 49.98 crores
- The acquisition is expected to enhance Sky Gold's margins and boost its revenue
- Starmangalsutra and Sparkling Chains are known for their high-quality traditional and modern jewelry
- The acquisition is expected to increase Sky Gold's EBITDA margin by 50-75 basis points and PAT margin to 3% within next 12 - 18 months
- Sky Gold aims to achieve its revenue target of INR 6300 crores by FY27 with the help of this acquisition