Kalyan Jewellers Shares Rise 2% As Q2 Revenue Growth Crosses 26% With Strong Same-Store Sales Performance

Kalyan Jewellers India shares rose 2% to ₹560 on the Bombay Stock Exchange (BSE) on Wednesday after the jewellery company reported strong growth in its provisional business update for the September quarter.

Consolidated revenue increased by more than 26% year-on-year in Q2 FY27. India's business grew nearly 27% during the quarter, with the company reporting healthy same-store sales across its key markets.

The growth came despite a high base from last year, when the entire nine-day Navratri period fell within the second quarter.

At 9:44 AM, Kalyan Jewellers share price on the BSE stood at ₹564.65 apiece, up 3.01%.

Same-Store Sales Growth

Kalyan Jewellers Q2 results recorded same-store sales growth of around 20% during the quarter. The company also launched its first regional brand, Akshaya Thanga Maligai (ATM), in Chennai during the period. Kalyan said the brand had seen strong customer response and revenue traction in its first 40-plus days.

The company plans to open four more ATM showrooms under the franchise model during FY27. Two are expected to open in the third quarter and another two in the fourth quarter.

International Business Performance

Kalyan Jewellers' revenue from international operations recorded a growth of around 18% year-on-year in Q2. Revenue from the Middle East increased approximately 12% despite the regional tensions. The company said the growth in the region was entirely driven by same-store sales. International markets contributed nearly 11% of Kalyan Jewellers' consolidated revenue during the quarter.

Candere, the company's lifestyle jewellery brand, also continued to grow rapidly. Its revenue increased nearly 64% compared with the same quarter last year.

Retail Network Expansion And Debt Reduction

Kalyan Jewellers opened 12 showrooms in India during the quarter, taking the net addition to 11. Candere added nine stores in India, while Kalyan opened one showroom in the UK. The expansion takes the company's store network further across both its core jewellery business and the Candere brand.

Kalyan also completed the sale of one of two identified non-core real estate assets during the quarter. The property was sold for around ₹86 crore. The second property, valued at approximately ₹16 crore, is expected to be sold during the ongoing third quarter.

The company also said its non-GML debt had come down to zero by the end of the September quarter.

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