Press Release

Date: 7th October 2026 To, To, BSE Limited National Stock Exchange of India Limited Phiroze Jeejeebhoy Towers, Exchange Plaza, Plot No. C/1, G Block, Dalal Street, Fort, Bandra- Kurla Complex, Bandra (East), Mumbai 400001 Mumbai 400051 Scrip Code: 541967 Trading Symbol: SKYGOLD Subject: Press Release Dear Sir/Madam, In continuation of our intimation dated 18th September, 2026, we hereby enclose herewith the Press Release titled “Sky Gold & Diamonds to Acquire Purvi Gems in Strategic Move to Drive Growth, Achieve Scale and Product Diversification” for your information and records. The requisite details as required under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 read with Schedule III thereto and SEBI Circular No. HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated 30th January, 2026 were provided in the aforesaid intimation. The Press Release is also available on the website of the Company at www.skygold.co.in. This is for your information and records. Thank you. Yours faithfully, For Sky Gold and Diamonds Limited, (Formerly known as Sky Gold Limited) Mangesh Chauhan Managing Director DIN: 02138048 Place: Navi Mumbai Enclosed: As above (Press Release) Sky Gold & Diamonds Limited BSE: 541967 II NSE: SKYGOLD Sky Gold & Diamonds to Acquire Purvi Gems in Strategic Move to Drive Growth, Achieve Scale and Product Diversification Mumbai, October 7, 2026: Sky Gold & Diamonds Ltd., (Sky Gold) one of India's leading jewellery manufacturers and exporters, has successfully completed the acquisition of 100% equity shares of Purvi Gems & Jewellery (India) Private Limited, a company engaged in the manufacturing of uncut and precia jewelleryandrelatedproducts.FollowingthecompletionoftheacquisitiononOctober7,2026,SkyGoldis well-positioned to leverage Purvi Gems' expertise in lightweight and studded jewellery to accelerate growth, enhance product diversification and strengthen its presence across key domestic and export markets. Thetransaction iscompletedforacashconsideration of₹9croreswhichrepresents1.5xofitsbookvalue as of 31st Mar’26 and does not constitute a related-party transaction. Neither the promoter nor the promotergroupofSkyGoldhasanyinterestinPurviGems,reflectingtheCompany'sdisciplinedapproach towards capital allocation and inorganic growth. The management of Purvi Gems to continue overseeing thisbusinessgoingforward,ensuringcontinuityandsupportingtheintegrationprocess. PurviGemshasbuiltastrongposition inspecialisedjewellerysegmentsthatcontinuetowitnessgrowing demandacrosskeyregions,includingSouthIndiaandExportmarket.Theacquisitionisexpectedtofurther enhance company’s exports while strengthening its ability to cater to evolving customer preferences in highmarginstuddedjewellerybusiness. KeyStrategicBenefitsfromPurviGems’acquisition: • Immediate entry into the fast-growing lightweight uncut & precia jewellery segment, expanding Sky Gold'saddressablemarket • Increased exposure to the higher-margin studded jewellery category, supporting improvement in productmixandprofitability • Potentialof~100kgofmonthlysales,enhancingscaleandoperationalflexibility • Opportunity to unlock cross-selling opportunities and increase wallet share by leveraging Purvi Gems'productportfolioacrossSkyGoldextensivecustomernetwork • Enhances export opportunity through specialised products with strong demand across key internationalmarkets,particularlytheMiddleEast • Acquisitioncompletedatbookvalue,providingaccesstoabusinessexpectedtogenerateover₹1,600- 1,800 crore of annual revenue over the next two to three years, along with established customer relationships,specialisedmanufacturingcapabilities,andanexperiencedteam • Continues Sky Gold’s proven acquisition, which has historically contributed to enhanced scale and improvedmarketpositioning The acquisition represents another important milestone in the company’s growth journey and is aligned with the long-term strategy of expanding its capabilities through carefully selected and strategically relevant acquisitionsmainlyinvalueadded products having higher margins.Overtheyears, SkyGold has successfully integrated acquired businesses to strengthen its market position, broaden its product offerings, improve operational efficiencies and create long-termvalue for stakeholders. The acquisition of Purvi Gemsbuildsonthistrack record and further enhances theCompany's presence across high-growth jewellerycategories. Track Record of Successful Acquisitions Pre-Acquisition Post-Acquisition Acquisitions Strategic Rationale Scale Progress Entry into the fast- Turnover :-₹201 crore Turnover :-₹760 crore Sparkling Chains Pvt. moving chains segment; as on 31stMarch 2024 as on 31stMarch 2026 Ltd. broaden product PAT :-₹0.1 crore PAT :-₹22.3 crore portfolio Entry into the Turnover :-₹171 crore Turnover :-₹622 crore StarmangalsutraPvt. mangalsutrasegment; as on 31stMarch 2024 as on 31stMarch 2026 Ltd. broaden product PAT :-₹0.07 crore PAT :-₹22.9 crore portfolio Speed Bangle Pvt.Ltd. Entry into specialised Turnover :-₹42 crore as (Erstwhile Ganna N Gold Turnover :-₹0.87 crore lightweight bangle on 31stMarch 2026 Pvt.Ltd.) as on 31stMarch 2025 manufacturing;broaden PAT :-₹16.6 crore PAT :-₹0.07 crore (Revenues mainly on job product portfolio (Acquired in Aug’25) work basis) Turnover :-₹175 crore Shri Rishab Gold Strengthen capabilities Turnover :-₹49 crore as as on 31stMarch 2026 (Revenues mainly on job and expand customer on 31stMarch 2025 PAT :-₹18.8 crore work basis) base PAT :-₹1.60 crore (Acquired in Dec’25) Commentingonthedevelopment,Mr.MangeshChauhan,ManagingDirector,SkyGold&Diamonds Ltd., said: "Strategic acquisitions have been an important driver of Sky Gold's growth andvalue 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. Pastacquisitionshavecontributedmeaningfullytoourscaleandgrowthwhilecreatinglong-termvaluefor 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 platformandsupportsustainablelong-termvaluecreation.” Commenting on the development, Mr. 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 commitmentto quality,craftsmanship, and customer relationships. We believe Sky Gold’s scale, manufacturing capabilities, extensive customer network, and proven track record of integratingandgrowingacquiredbusinessesprovidetheidealplatformforthenextphaseofourgrowth. AboutSkyGold&DiamondsLimited SkyGoldandDiamondsLimitedisaleadingmanufacturerofgoldjewellery,renownedforitsprecisioncraftsmanshipand innovative design. Established in 2008 and listed on both BSE and NSE, the Company operates from an 1,50,000sq. ft. advancedfacilityinNaviMumbai,equippedwithGermanandItalianmachineryandcapableofprocessing14.4tonneofgold peryear. With a design library of over 9,00,000+ styles, We offer a wide range of rings, chains, mangalsutra, bracelets, pendants, earrings,andcustomizedjewellery,oftenenhancedwithAmericandiamonds,NaturalDiamonds,LabGrownDiamondsand colourgemstones.Ourdeepunderstandingofregionaltastesenablesustocreatelocalizedcollectionsthatappealtodiverse customer preferences across India. Serving leading jewellerybrands wholesalers, distributors, retailers, and, we cater to both special occasions and daily wear segments across multiple price points.Ourin-house andfreelance designers work togethertoensureeverypiecereflectsthefinestquality,timelessbeauty,andenduring [Showing first 8,000 characters — download PDF for full document]