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Sky Gold reports robust results for Ǫ1FY25

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MUMBAI, India, Aug. 16, 2024 /PRNewswire/ — Sky Gold Limited (SGL) one of the leading jewellery companies based in Mumbai engaged in the business of designing, manufacturing and marketing of Gold jewelleries reported its unaudited financial results for the Ǫuarter Ended on 30th June, 2024.

Ǫ1FY25 Consolidated Financial Performance Snapshots (Y-o-Y)

Revenue from Operations grew by 92.4% y-o-y to Rs. 723.0 croresEBITDA grew by 100% to Rs. 37.3 croresProfit After Tax (PAT) grew by 98.9% to RS. 21.2 croresSales volumes for the quarter stood at 349 Kgs/ month and profit soars ~2x y-o-y

Key Financial Highlights:

Particulars (Rs. Crs.)

Ǫ1 FY25

Ǫ1 FY24

Y-o-Y

Ǫ4FY24

Ǫ-o-Ǫ

Revenue from Operations

723.0

375.7

92.4 %

513.4

40.8 %

EBITDA

37.3

18.6

100.0 %

25.3

47.2 %

EBITDA Margins

5.2 %

5.0 %

19 bps

4.9 %

22 bps

Profit After Tax

21.2

10.7

98.9 %

13.6

56.0 %

PAT Margin

2.9 %

2.8 %

10 bps

2.7 %

28 bps

Operational Highlights:

Consolidated Revenues from Operations for Ǫ1 FY25 stood at Rs. 723 Crs, registering a growth of 92.4% on a y-o-y basisEBITDA for the current quarter stood at Rs. 37.3 Crs, registering a growth of 100% on a y- o-y basisPAT for Ǫ1 FY25 stood at Rs. 21.2 Crs, registering a growth of 98.9% as compared to the same quarter for the previous year. Thus, registering 2nd straight quarter of 2x PAT growth on y-o-y basis.

Commenting on the Results, Mr. Mangesh Chauhan, Managing Director and Chief Financial Officer, said:

“Sky Gold Ltd has seen exceptional growth in the first quarter of FY25. Our Revenue from Operations surged by 92.4% year-on-year to Rs. 723 crores. EBITDA increased by 100% to Rs. 37.3 crores, and our Profit After Tax grew by 98.9% to Rs. 21.2 crores. This remarkable performance is attributed to our recent expansion to a larger facility in Navi Mumbai, which has significantly increased our production capacity.

In Ǫ1 FY25, our capacity utilization stood at 33% of the total capacity (including additional capacities from acquisitions). This highlights our capability to scale operations and strengthen our position in the gold jewellery market both in India and globally. The recent integration of Starmangalsutra and Sparkling Chains into Sky Gold is perfectly aligned with our growth strategy. These acquisitions are expected to boost our margins through the synergies they bring to the enterprise. By consolidating our operations, we’re broadening our total addressable market and expanding our product presence in numerous retail outlets.

Moving forward in FY25, we plan to increase capacity utilization at our new facility, invest in IT and automation, implement an ERP system, strengthen our mid-management and regional sales teams, and optimize our financials through the use of gold metal loans to improve profitability and reduce borrowing costs.

We are confident that these initiatives will help us achieve our goal of INR 6300 Crores in revenue by FY27, while aiming for a capacity utilization of 1050 Kgs from 750 kgs post our recent acquisition per month within the next three years.”

Sky Gold is also planning to raise funds to boost equity. The recent cut in import duty on gold in the Union Budget has sparked a surge in demand for gold jewellery, with more consumers now preferring organized markets over unorganized ones. These events are expected to further strengthen the company’s position in the industry.

Sky Gold Ltd is focused on enhancing its operational efficiency and expanding its market presence. Investments in IT and automation will facilitate scaling up operations and improving productivity. The implementation of an ERP system will streamline processes and enhance decision-making capabilities.

To support its growth ambitions, Sky Gold is also strengthening its mid-management team and regional sales force. It has decreased its collateral percentage to free up capital from 50 to 40%. The company is optimizing its financial structure by leveraging gold metal loans, which will lead to better profitability and reduced borrowing costs.

About Sky Gold Limited:

Established in 2008, Sky Gold Limited is one of the leading jewellery companies based in Mumbai. The Company specializes in lightweight jewellery of 18 & 22 Carat gold, manufacturing a variety of designs including plain gold jewellery, studded gold jewellery, diamond-studded jewellery, and Turkish jewellery. Operating on a B2B model, Sky Gold collaborates with leading jewellery retailers like Malabar Gold and Diamonds, Joyalukkas, Kalyan Jewellers, GRT Jewellers, and Senco Gold, making its products available in over 2000 showrooms across India.

SGL’s state-of-the-art 81,000 sq ft manufacturing facility in Navi Mumbai, equipped with German and Italian machinery, has a processing capacity of 750 kg of gold per month. The company boasts a design library of over 500,000 designs of rings, bracelets, bangles, fancy pendants, earrings, and more. Sky Gold got listed on the BSE SME platform in October 2018 and migrated to the Mainboard of BSE and NSE in January 2023.

View original content:https://www.prnewswire.com/in/news-releases/sky-gold-reports-robust-results-for-1fy25-302224175.html

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REVIVER® Joins Forces with ROADMEDIC® and SENSAGRATE in LiDAR Saving Lives Public Safety Coalition’s 9-1-1 Dispatcher Visibility Demonstration Project

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REVIVER® Aims to Play a Key Role in Improving Post-Crash Care Through the USDOT’s (FY)2025 Safe Streets and Roads for All (SS4A) Grant Program with over 50,000 Digital License Plates on the Road Today

GRANITE BAY, Calif., Sept. 24, 2024 /PRNewswire/ — REVIVER®, the pioneering manufacturer of the first and only legal digital license plate in the world (the RPLATE®), is proud to announce its participation as a founding company in the LiDAR Saving Lives Public Safety Coalition’s (LSL) groundbreaking 9-1-1 Dispatcher Visibility Demonstration Project. This vital initiative aims to improve post-crash care by leveraging advanced technology integrated into the REVIVER® platform to provide real-time visual context to 9-1-1 dispatchers and first responders. The project aims to play a key role in USDOT’s (FY)2025 Safe Streets and Roads for All (SS4A) Grant Program. With over 50,000 RPLATES installed on vehicles in California and Arizona today, REVIVER® has a proven platform to demonstrate and quickly broaden adoption of connected vehicle safety initiatives.

REVIVER® Joins Forces with ROADMEDIC® and SENSAGRATE in LiDAR Saving Lives Public Safety Coalition

In collaboration with ROADMEDIC®, a leader in automotive emergency communication systems, and SENSAGRATE, a provider of intelligent visual sensor technology, REVIVER® will become the gateway to democratizing vehicle safety for virtually all year, make, and model vehicles by integrating real-time data transmission and visual context into the Next Generation 911 (NG911) system via the REVIVER® RPLATE® platform. This integration will enable 9-1-1 dispatchers to receive critical information, including images and videos, from motorists in roadside emergencies. This enhanced situational awareness will significantly improve the accuracy and speed of emergency responses, improving incident victim outcomes and ultimately saving lives.

“REVIVER’s goal is to utilize digital license plates to modernize vehicle registration compliance and to leverage developing technologies to help save lives,” said Neville Boston, Founder and Chief Strategy Officer of REVIVER®. “By combining REVIVER’s RPLATE digital license plate technology and companion APP with the expertise of ROADMEDIC® and SENSAGRATE, we are realizing our vision. REVIVER will be setting a new standard for emergency response via direct vehicle connectivity. Our involvement in the LiDAR Saving Lives Public Safety Coalition’s 9-1-1 Dispatcher Visibility Demonstration Project reflects our commitment to advancing safety on our roads and enhancing post-crash care.”

The 9-1-1 Dispatcher Visibility Demonstration Project will showcase the world’s first end-to-end, real-time infrastructure-to-everything (I2X) communication system. This system integrates collision detection, IP-based 9-1-1 data transmission, and real-time visual context, providing first responders with unprecedented insight into roadside emergencies. The project is set to play a pivotal role in the evolution of NG911, making emergency services more effective and responsive to the needs of motorists. Additional connected safety collaborations are expected to be announced shortly that will include solutions to increase driver awareness of local first-responder activities to reduce the occurrence of secondary incidents.

As part of REVIVER®’s ongoing commitment to safety innovation, REVIVER® will participate in the panel session entitled “911’s Role in the Connected Safe System Approach” at the upcoming COVESA All Member Meeting, taking place September 25-26, 2024, in Novi, Michigan. This session will bring together industry leaders to discuss the critical role of 9-1-1 in the evolving connected vehicle ecosystem, with a focus on improving post-crash care through advanced technology and cross-industry collaboration.

The COVESA All Member Meeting is a key event for the connected vehicle community, offering a platform for collaboration and innovation. REVIVER®’s participation underscores their leadership in driving the adoption of NG911 and enhancing the role of connected technology in public safety.

About REVIVER®: REVIVER® is the creator of the world’s first digital license plate platform, revolutionizing the way people interact with their vehicles. The REVIVER® RPLATE® and companion app offer unprecedented convenience, personalization, and safety features, transforming the license plate into a connected vehicle platform. REVIVER® is committed to leveraging technology to improve vehicle safety and support the transition to a connected, digital automotive ecosystem. www.reviver.com

About ROADMEDIC®: ROADMEDIC®, an authorized automotive OEM tier 1 supplier, is an automotive 9-1-1 software company dedicated to improving emergency response through instantaneous IP-based data transmission from motor vehicles to 9-1-1 centers. Their innovative solutions enhance the speed and accuracy of emergency responses, saving lives and reducing harm in the event of a crash. www.roadmedic.com

About SENSAGRATE: SENSAGRATE provides advanced intelligent visual sensor technology designed to improve road safety by integrating real-time data with vehicle and infrastructure systems. Their cutting-edge solutions enable precise collision detection and seamless communication with emergency services, enhancing the effectiveness of post-crash care. www.sensagrate.com

About LiDAR Saving Lives Public Safety Coalition (LSL): The LiDAR Saving Lives Public Safety Coalition is a nonprofit 501(c)(4) organization dedicated to improving public safety through the integration of advanced technology in emergency response systems. LSL collaborates with industry leaders, municipalities, and public safety agencies to enhance post-crash care and reduce roadway fatalities. www.lslcoalition.org

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TURKI ALALSHIKH ANNOUNCES LAUNCH OF AL-HILAL CHANNEL ON DAZN, TO BE SPONSORED BY RIYADH SEASON

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LONDON, Sept. 25, 2024 /PRNewswire/ — Today, in the presence of His Excellency the Chairman of the General Entertainment Authority (GEA), Turki bin Abdulmohsen Alalshikh, DAZN and Al-Hilal Saudi Football Club signed a Memorandum of Understanding (MoU), marking the first step in launching a dedicated global club channel on DAZN, which is to be sponsored by Riyadh Season.

As part of this sponsorship, Riyadh Season will oversee the content and programs broadcasted on the channel, contributing to a unique experience for the club’s fans. In a statement at the signing ceremony, HE Turki Alalshikh explained that this channel will feature exclusive programs and interviews, daily reports on training sessions, behind-the-scenes access to the players’ locker rooms, and will broadcast certain friendly matches. It will also include programs sponsored by Riyadh Season, featuring some of the top stars worldwide.

This partnership is part of a collaboration between three leading entities in the fields of entertainment, media, and sports: Riyadh Season, which supports the channel as the official sponsor; DAZN, the largest broadcaster of football worldwide; and Al-Hilal, the most decorated club in the Saudi Pro League, with numerous league titles and AFC Champions League victories.

This collaboration brings world-class content from Saudi Arabia to fans worldwide and will enhance the club’s presence in the international media landscape. This exclusive channel will be available globally and for free on the DAZN app, offering football fans around the world unparalleled access to one of the most iconic teams in the Middle East.

It will allow fans to follow the matches, along with a wide variety of exclusive content, including interviews with players and coaching staff, as well as behind-the-scenes footage from training sessions and match days. The content will also feature special reports highlighting the club’s history, achievements, and future vision.

The signing took place in London between Al-Hilal Saudi Club, represented by the Chairman of Al-Hilal Company, Mr. Fahad bin Nafel, and DAZN, represented by Kacy Grine, President of DAZN in the Middle East and North Africa.

HE Turki Alalshikh said: “We don’t have specialised channels similar to international club channels, so this is a great opportunity to achieve that, especially with a global partner focused on success. This comes at a time when we have achieved great success in boxing and other events, and I am confident that Al-Hilal’s fanbase subscribing to the platform could reach up to two million people.”

Kacy Grine, President of DAZN in MENA, said: “It is an honour to partner with one of the best clubs in world and bring together three global brands, DAZN, Al Hilal and Riyadh Season.

We look forward to telling fans around the world, the exciting story of a club which continues to make history. With the support of Riyadh Season, this proposition becomes even more remarkable and ambitious, demonstrating the global appeal of Saudi sports and entertainment”.

Through this exciting new venture, fans will be able to follow Al-Hilal’s stellar squad, featuring some of the biggest names in world football. Recent signings have added significant international star power to the team, which already boasted an impressive roster of talent. These footballing icons bring not only their exceptional skill but also a vast global fanbase, making Al-Hilal a focal point for millions of football fans worldwide.

Al-Hilal’s rich legacy of success — both domestically and on the international stage — has seen the club become the most decorated in the Saudi Pro League, with numerous SPL titles and AFC Champions League triumphs.

The intended launch of Al-Hilal channel on DAZN will further cement the club’s status as a global football powerhouse, expand its reach to new audiences and provide existing fans with even more exclusive content and insight into the team’s journey.

Video – https://mma.prnewswire.com/media/2514811/Al_HilalxDAZN_Signing_Ceremony.mp4
Photo – https://mma.prnewswire.com/media/2514803/Al_HilalxDAZN.jpg
Photo – https://mma.prnewswire.com/media/2514802/Al_HilalxDAZN.jpg
Logo – https://mma.prnewswire.com/media/2514800/DAZN_Logo.jpg
Logo – https://mma.prnewswire.com/media/2514801/Riyadh_Season_Logo.jpg
Logo – https://mma.prnewswire.com/media/2514813/AL_HILAL_Logo.jpg

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SOURCE DAZN

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Cyvatar Lands Growth Funding Package from Decathlon Capital Partners

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Revenue-based transaction will fund expansions of the cybersecurity company through an innovative, shareholder-friendly financing structure

IRVINE, Calif., Sept. 24, 2024 /PRNewswire-PRWeb/ — Cyvatar, a cybersecurity platform tailored to serve small-and-mid-size businesses, start-ups, and supply chains, has landed a growth funding package from Decathlon Capital Partners to support its continued expansion. Details of the revenue-based investment package were not disclosed.

Cyvatar will use the capital to continue its investment in platform development and enhance its service delivery capabilities and customer service capacity. The first cybersecurity-as-a-service (CsaaS) provider allows small-and-mid-size businesses to easily implement security measures that will protect them from ransomware and BEC attacks through proven solutions.

Corey White, the Founder and Chief Experience Officer of Cyvatar, said that Cyvatar works continuously to protect businesses from vulnerabilities. “Our work doesn’t stop after we help a business identify security gaps and build and implement a workable strategy,” White said. “What matters most to our team is our clients’ cyber safety, which we work around the clock to maintain.”

Headquartered in Irvine, California, Cyvatar will repay its investment to Decathlon Capital Partners through its future revenues. Cyvatar was not required to give up any control of the company, and no equity or ownership was exchanged for growth capital.

John Borchers, Managing Director of Decathlon Capital Partners, said that Cyvatar’s flexible pricing options make it more sustainable for many businesses. “Having the ability to choose a subscription, similar to streaming service options, makes the idea of having a cybersecurity platform more attractive for many businesses that may otherwise not invest in one,” Borchers said. “We are excited to see what the future has in store for Cyvatar.”

About Cyvatar
Cyvatar is a leading managed cybersecurity-as-a-service provider, empowering small and mid-sized businesses to achieve security success. By integrating innovative technology, expert guidance, and tailored solutions, Cyvatar simplifies cybersecurity with proactive monitoring, automated workflows, and ongoing support. Headquartered in Irvine, CA, Cyvatar is committed to making cybersecurity effortless, effective, and accessible. Learn more at http://www.cyvatar.ai.

About Decathlon Capital Partners
Decathlon Capital Partners provides growth capital for companies seeking alternatives to traditional equity investment. Through the use of highly customized revenue-based financing solutions, Decathlon provides long-term growth capital without the dilution, loss of control and operational overhead that often comes with equity-based funding. With offices in Palo Alto and Park City, Decathlon is the largest revenue-based funding investor in the U.S. and is active across a wide range of sectors. Learn more at http://www.decathloncapital.com.

Media Contact

Cyvatar Press, Cyvatar, 855-520-9966, getoutcomes@cyvatar.ai, https://cyvatar.ai/

View original content:https://www.prweb.com/releases/cyvatar-lands-growth-funding-package-from-decathlon-capital-partners-302257809.html

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