Kalyan Jewellers shares soar over 6% as 38% YoY revenue jump in Q1 update

Shares of Kalyan Jewellers India climbed as much as 6.5% to an intraday high of Rs 378 on the BSE on Wednesday after the company reported an estimated 38% year-on-year growth in consolidated revenue for the first quarter of FY27.

The company attributed the performance to strong operating momentum and healthy same-store sales growth across its key markets in India, despite the entire 28-day Adhik Maas period falling in the recently concluded quarter.

Adhik Maas, which occurs once every three years, typically leads to a slowdown in wedding-related purchases in several parts of the country. Even with this impact, Kalyan Jewellers recorded same-store sales growth of around 28% during the quarter.

The company also said it rolled out its ‘Shine with India’ gold recirculation campaign during the second half of May to increase the share of recycled gold in its business and reduce dependence on imported gold. According to the company, the initiative was well received by customers, taking recycled gold’s contribution to more than 46% of revenue in the first quarter of FY27. In June alone, recycled gold accounted for over 55% of revenue.

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Kalyan Jewellers int’l business

Kalyan Jewellers’ international business posted revenue growth of about 35% during the quarter compared with the same period last year.

Within the Middle East, revenue rose around 30% year-on-year, driven largely by same-store sales growth despite lower footfall in April due to geopolitical tensions in the region. The company’s international operations contributed about 14% to consolidated revenue during the quarter.

Its digital-first jewellery platform, Candere, reported revenue growth of approximately 112% compared with the corresponding quarter of the previous financial year. During the quarter, Kalyan Jewellers opened 12 showrooms in India, while Candere added five new stores.

Store growth

The company said the current quarter has begun on a positive note and that it remains optimistic about upcoming showroom launches, supported by new collections and marketing campaigns ahead of the festive and wedding season.

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As of June 30, 2026, Kalyan Jewellers had a total of 524 showrooms across India and international markets. This included 354 Kalyan showrooms in India, 38 in the Middle East, two in the United States, one in the United Kingdom and 129 Candere outlets.

Despite Wednesday’s rally, Kalyan Jewellers shares remain down 23% so far in 2026. The stock has declined 35% over the past one year and 17% in the last three months. Over a three-year period, however, it has delivered returns of about 130%.

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