Highlights
- Kalyan Jewellers reported approximately 38% consolidated revenue growth in Q1 FY27.
- Candere recorded approximately 112% revenue growth compared with the year-ago quarter.
- The company added 17 showrooms during the quarter, taking the total network to 524.
Kalyan Jewellers India Limited (NSE:KALYANKJIL) reported that its consolidated revenue increased by approximately 38% during the quarter ended June 30, 2026, compared with the corresponding period of the previous financial year. According to the company's quarterly business update submitted to the National Stock Exchange (NSE) and BSE, revenue figures refer to revenue from the sale of goods, excluding bullion, and remain subject to the statutory auditors' limited review process.
The company stated that its India operations also recorded revenue growth of over 38% during Q1 FY27 compared with Q1 FY26. It attributed the performance to operating momentum across key markets and healthy same-store sales growth despite the 28-day Adhik Maas period, during which wedding-related demand typically slows in certain parts of the country. Same-store sales growth during the quarter stood at approximately 28%.
Source: Analysis by Kalkine
Gold Recycling Initiative Sees Higher Customer Participation
During the quarter, Kalyan Jewellers launched its 'Shine with India' gold recirculation campaign in the second half of May. According to the company, the initiative aims to increase the share of recycled gold and reduce dependence on imported gold.
The company said the campaign contributed to recycled gold accounting for more than 46% of revenue during Q1 FY27. In June 2026, the contribution of recycled gold exceeded 55% of revenue, reflecting higher customer participation during the month.
International Business and Candere Deliver Growth
Kalyan Jewellers reported that its international operations recorded approximately 35% revenue growth during Q1 FY27 compared with the same quarter last year. Within the Middle East, revenue increased by approximately 30%, driven mainly by same-store sales growth despite lower customer footfall during April owing to geopolitical tensions in the region.
International operations contributed approximately 14% to the company's consolidated revenue during the quarter.
The company's digital-first jewellery platform, Candere, recorded approximately 112% revenue growth compared with the corresponding quarter of the previous financial year.
Showroom Network Continues to Expand
Kalyan Jewellers continued to expand its retail presence during the June 2026 quarter by opening 12 Kalyan showrooms and five Candere showrooms in India.
As of June 30, 2026, the company operated a total of 524 showrooms across India and international markets. The network comprised 354 Kalyan showrooms in India, 38 in the Middle East, two in the United States, one in the United Kingdom, and 129 Candere showrooms.
The company also stated in its quarterly update that the current quarter has begun well, with preparations underway for showroom launches, new collections and campaigns ahead of the upcoming festive and wedding season.
Exchange Filing Details
Kalyan Jewellers submitted the quarterly business update to the stock exchanges on July 7, 2026. The company clarified that the operational metrics and revenue figures disclosed are subject to the limited review process by its statutory auditors. It further stated that a detailed information update would be released after the Board of Directors approves the financial results for the quarter ended June 30, 2026.
Key Risks
- Reported metrics remain subject to statutory auditors' limited review.
- Jewellery demand may fluctuate due to changing consumer spending.
- Geopolitical developments can affect international business performance.
- Gold price volatility may influence customer purchasing decisions.
Summary
Kalyan Jewellers reported approximately 38% consolidated revenue growth in Q1 FY27, with India operations also growing over 38% and same-store sales increasing about 28%. International operations recorded around 35% growth, while Candere's revenue rose approximately 112%. The company opened 17 new showrooms during the quarter, taking its global retail network to 524 locations.
FAQs
Q: What revenue growth did Kalyan Jewellers report in Q1 FY27?
A: The company reported approximately 38% consolidated revenue growth compared with the corresponding quarter of the previous financial year.
Q: How many showrooms does Kalyan Jewellers operate?
A: As of June 30, 2026, the company operated 524 showrooms across India, the Middle East, the United States and the United Kingdom.
Q: How did Candere perform during Q1 FY27?
A: Candere recorded approximately 112% revenue growth compared with the corresponding quarter of the previous financial year.