Kalyan Jewellers Share Price Falls 8% Despite 28% Same-Store Sales Growth; Retail Network Expands to 524 Showrooms

On Tuesday, Indian benchmark indices traded higher in early trade. As of the latest available trade, the Nifty 50 gained 41.70 points, or 0.17 per cent, to 24,472.05. Despite the positive market sentiment, Kalyan Jewellers India share price declined around 8 per cent to Rs 351.60. The stock touched an Intraday high of Rs 367.05 and a low of Rs 348.35, with trading volumes of 103 lakh shares, exceeding the 30-day average volume of 83 lakh shares.

Kalyan Jewellers India Reports 38 per cent Revenue Growth in Q1 FY27

Kalyan Jewellers reported consolidated revenue growth of approximately 38 per cent year-on-year for the quarter ended June 30, 2026 (Q1 FY27). The company delivered the strong performance despite the 28-day Adhik Maas period, which typically impacts wedding-related jewellery demand due to the absence of auspicious wedding dates. Its India business also recorded revenue growth of over 38 per cent, supported by same-store sales growth (SSSG) of around 28 per cent.

Recycled Gold Contribution Crosses 46 per cent 

During the quarter, the company's 'Shine with India' gold recirculation campaign gained significant traction. As a result, recycled gold accounted for more than 46 per cent of consolidated revenue during Q1 FY27, while the contribution exceeded 55 per cent in June alone.

A higher recycled gold mix helps reduce dependence on imported gold and can improve procurement efficiency by lowering exposure to import duties and gold price volatility.
Also Read - Triple-Digit PE Renewable Energy Company Commissions Record 530 MW Capacity in Q1 FY27; Check Details

International Business and Candere Deliver Strong Growth

Kalyan Jewellers' international operations contributed around 14 per cent of consolidated revenue and recorded approximately 35 per cent year-on-year growth. The Middle East business, the company's largest overseas market, grew nearly 30 per cent, despite temporary disruptions caused by geopolitical tensions during April.

Meanwhile, the company's digital jewellery platform Candere delivered the strongest performance among all business segments, reporting 112 per cent revenue growth during Q1 FY27. The growth was supported by rising online jewellery demand and continued expansion of its omnichannel presence.

Expands Retail Network to 524 Showrooms

The company continued its expansion strategy by opening 12 Kalyan Jewellers showrooms and 5 Candere showrooms during the quarter.

As of June 30, 2026, Kalyan Jewellers operated 524 showrooms, comprising 354 stores in India, 38 in the Middle East, 2 in the United States, 1 in the United Kingdom, and 129 Candere showrooms, strengthening its domestic and international retail footprint.

Management Outlook

Management stated that Q2 FY27 has started on a positive note and expressed confidence ahead of the upcoming festive and wedding season. With the impact of Adhik Maas now behind, the company expects demand to improve further, supported by new jewellery collections, marketing campaigns and continued showroom expansion.

About Kalyan Jewellers India

Kalyan Jewellers India Limited is one of India's largest jewellery retailers, offering a wide range of gold, diamond, precious stone and studded jewellery through its flagship Kalyan Jewellers and Candere brands. The company has a strong presence across India, the Middle East, the United States and the United Kingdom.

Over the years, Kalyan Jewellers has focused on expanding its omnichannel capabilities, strengthening its retail network and increasing operational efficiency through initiatives such as recycled gold procurement, while continuing to grow its digital jewellery business through Candere.

What are your views on Kalyan Jewellers' Q1 FY27 business update? Share your thoughts in the comments below.
Disclaimer: The article is for informational purposes only and not investment advice.