Sky Industries

Sky Industries' board gave in-principle approval for the sale of its Navi Mumbai factory premises together with the underlying land, building and related assets, subject to finalisation of a buyer, mutually agreed terms and shareholder and regulatory approvals. The Navi Mumbai facility accounted for about Rs20 crore of annual turnover, roughly a quarter of total turnover of Rs84.54 crore, with definitive documents yet to be signed and completion envisaged within six months of signing. Manufacturing from Navi Mumbai was being transitioned to the upcoming Gujarat facility, which was being developed with larger infrastructure for enhanced capacity and efficiency, and sale proceeds were to be used for operational needs, capital expenditure and general purposes at Gujarat. The board also approved shifting the registered office from Pawane, Navi Mumbai to Chembur, Mumbai, subject to member and Regional Director approvals. Value-added output from the leased Bhiwandi unit was shifted to the Gujarat unit in September and Bhiwandi operations ceased. Sky manufactured narrow fabrics led by hook-and-loop fasteners and reported consolidated revenue of Rs86.41 crore in FY26, with exports of Rs20.83 crore to more than 27 countries, while gross debt stood at Rs31.4 crore against work-in-progress of Rs29.94 crore.

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Oct 8 (Reuters) - Sky Industries Ltd SKYI.BO:

• BOARD APPROVES IN PRINCIPLE SALE OF NAVI MUMBAI FACTORY PREMISES

Source text: ID:nBSE6rLCmd

Further company coverage: SKYI.BO

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Sky Industries shifted manufacturing of value-added goods from its leased Bhiwandi unit to its Gujarat unit in September 2026. Production previously carried out at Bhiwandi commenced at Gujarat, and operations at the leased Bhiwandi premises ceased. The Gujarat unit offered significantly larger operational infrastructure for consolidated manufacturing and future expansion. The Gujarat facility is a five-acre greenfield plant with zero liquid discharge and solar infrastructure, carried as capital work in progress of Rs 2,994 lakh with capital commitments of Rs 1,581 lakh at the close of FY26. The company reported consolidated revenue of Rs 8,641 lakh in FY26, with exports of Rs 2,083 lakh accounting for about 24% of sales. Gross debt stood at Rs 3,140 lakh against net debt to equity of 0.56, with only Rs 46 lakh of cash.

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Dec 9 (Reuters) - Sky Industries Ltd SKYI.BO:

• APPROVED INVESTMENT IN SECURITIES OF SUBSIDIARY SKYTECH TEXTILES

Source text: ID:nBSE5MZHb5

Further company coverage: SKYI.BO

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Sept 19 (Reuters) - Sky Industries Ltd SKYI.BO:

• APPROVES PURCHASE OF LAND IN GUJARAT FOR 68.2 MILLION RUPEES

Source text for Eikon: ID:nBSE2RZtlL

Further company coverage: SKYI.BO

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May 16 (Reuters) - Sky Industries Ltd SKYI.BO:

• FINAL DIVIDEND ONE RUPEE PER SHARE

Source text for Eikon: ID:nBSEbMrb4S

Further company coverage: SKYI.BO

(([email protected];))