Analysts/Institutional Investor Meet/Con. Call Updates

Date: 5th November 2026 To, To, BSE Limited National Stock Exchange of India Limited Phiroze Jeejeebhoy Towers, Exchange Plaza, Plot No. C/1, 25th Floor, Dalal Street, Fort, G Block, Bandra-Kurla Complex, Mumbai 400001 Bandra (East), Mumbai 400051 Scrip Code: 541967 Trading Symbol: SKYGOLD Subject: Transcript of the earnings conference call. Dear Sir/Madam, Pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, copy of the transcript of the earnings conference call held on Saturday, 31st October 2026 on the unaudited standalone and consolidated financial results and operations of the Company for the quarter and half-year ended 30th September 2026, is enclosed. The said transcript is also available on the Company’s website at https://skygold.co.in/wp-content/uploads/2026/11/Sky-Gold-Q2H1-FY27-Transcript- final.pdf You are requested to take the above information on record. Thanking you. For Sky Gold and Diamonds Limited, (Formerly known as Sky Gold Limited) Mahendra Chauhan Wholetime Director DIN: 02138084 Place: Navi Mumbai Encl: As above “Sky Gold & Diamonds Limited Q2 & H1 FY27 Earnings Conference Call” October 31, 2026 MANAGEMENT: MR. MANGESH CHAUHAN – MANAGING DIRECTOR – SKY GOLD & DIAMONDS LIMITED MR. DARSHAN CHAUHAN – WHOLE-TIME DIRECTOR – SKY GOLD & DIAMONDS LIMITED MR. MAHENDRA CHAUHAN – WHOLE-TIME DIRECTOR – SKY GOLD & DIAMONDS LIMITED MR. SIDDHARTH SIPANI -- CHIEF FINANCIAL OFFICER – SKY GOLD & DIAMOND LIMITED MODERATOR: MS. VIDHI VASA – MUFG INTIME Page 1 of 1 Sky Gold & Diamonds Limited October 31, 2026 Moderator: Ladies and gentlemen, good day, and welcome to Sky Gold & Diamonds Limited Q2 and H1 FY27 Earnings Conference Call. As a reminder, all participant lines will be in the listen-only mode, and there will be an opportunity for you to ask questions after the presentation concludes. Should you need assistance during this conference call, please signal an operator by pressing star, then zero on your touchtone phone. Please note that this conference is being recorded. I now hand the conference over to Ms. Vidhi Vasa from MUFG Intime. Thank you, and over to you, ma'am. Vidhi Vasa: Thank you, Huda. On behalf of MUFG Intime, I welcome you all to Sky Gold & Diamonds Limited Q2 and H1 FY27 earnings conference call. On the management side, we have Mr. Mangesh Chauhan, Managing Director; Mr. Darshan Chauhan, Whole-Time Director; Mr. Mahendra Chauhan, Whole-Time Director; and Mr. Siddharth Sipani, Chief Financial Officer. I hope everybody had an opportunity to go through our investor deck that we have uploaded on exchange and the company's website. I would like to mention a short disclaimer before we begin the call. This call may contain some of the forward-looking statements which are completely based upon our beliefs, opinion, and expectations as of today. These statements are not a guarantee of our future performance and involve unforeseen risks and uncertainties. With this, now I hand over the call to Mr. Mangesh Chauhan. Over to you, sir. Mangesh Chauhan: Good morning, everybody. I would like to start this con-call with Darshan Chauhan, Whole- Time Director of Sky Gold & Diamonds. Darshan Chauhan: Thank you, Mangesh Bhai. Good morning, everyone. Let me begin by thanking my team. Today, I want to go beyond the quarter. I want to tell you how Sky Gold was built, where we started, why India's reputed retailers choose to work with us, and how we have used every rupee of capital you have trusted us with. I also want to explain why we believe this is one of the most capital-efficient businesses in our industry. One note before I begin: Under SEBI guidelines, we are not supposed to give forward-looking guidance. That is one of the reasons you have not seen future guidance in our latest quarter presentation. Today, I will speak only about what we have built and what we have delivered. Sky Gold started with a simple goal, build a solid product portfolio and earn the trust of our customers. We saw early that jewelry retail was moving from unorganized to organized, and that bet paid off. Today, the same shift is happening in jewelry manufacturing. Our roots are in South Indian design, where we have built expertise over two decades. When we listed in 2018, we were a small company with a design team of 15 to 20 CAD designers. But even then, we promoters had one ambition: to become India's number one jewelry manufacturer. The ambition has grown since. Our vision is to build a global design-led jewelry manufacturing business that is asset-light. Why do retailers come to Sky Gold? Why do the highly reputed retailers choose us? There are four reasons: First, we specialize in lightweight jewelry. As gold prices rise, customers want Page 2 of 2 Sky Gold & Diamonds Limited October 31, 2026 lighter pieces. We adopted 3D printing with paper casting as early as 2020, and now run 40 such machines. Together with direct casting, laser cutting, hollow stamping, this makes our jewelry 20% to 30% lighter. We have also cut gold loss from 1.5% to 0.5%. Second, we don't just make jewelry, we co-create it. Our design team of around 180 people studies each retailer's portfolio and its competitors. We study what each state and each community wants. Our team brings sketches, prototypes, and samples before anything goes into production. That approach gives us one of the best selection rates in the industry, and keeps unsold inventory low for our customers. It is also why value-added products now make up over half our revenue, from insignificant percentage three years ago. Third, we execute. In our industry, execution means two things. Timely delivery and sharper delivery with strict quality control. We deliver in less than 30 days, significantly faster delivery timeline for the complex products that we are selling. When our products arrive on time and sell well in the store, the repeat orders come quickly. Fourth, we are one-stop shop. A retailer who buys gold jewelry from us can now buy diamond jewelry, chains, bangles, diamond-studded jewelry and uncut jewelry from the same partner. Behind that sits a large back office team that handles customization, custom orders, and after- sales service. Our customers can focus on retail, we take care of the rest. We are always one call away. Over the last eight years, we have invested in three things at once: design, technology and people. On design, we grew from 15 to 20 CAD designers to a team of around 180. We hired talent that understood the gaps in the market and needs of each region. On technology, we have adopted first-hand technology, but a machine is only as good as the person running it. A doctorate in material science with over three decades of experience oversees these operations. On people, we built a marketing team to take us from South Indian business to pan-India one. We hired professionals with 20 years of experience and deep relationships in the trade. In the past, we had highlighted about the expansion in management bandwidth after appointing a professional CEO, business heads and CFO. Also, the presence of Thiru, who has three decades of manufacturing experience. In addition, he has spent close to a decade at one of the most reputed jewelry conglomerates. To keep this talent, we made ESOPs a part of how we reward performance. We recently honored employees who have been with us for more than five years as they were the backbone of our growth journey. Now let me take you through on how we have used your capital. Our capital raising history tells a simple story. Each time we have raised capital, we have deployed it with discipline and converted it into a step change in scale. We listed on BSE SME platform in October 2018, raising INR25.56 crores at INR180 per share. At the time, we had just crossed INR500 crores in turnover. The IPO gave us the platform, governance standard and visibility of a listed company, and the capital to strengthen working capital. We use t [Showing first 8,000 characters — download PDF for full document]