Kalyan Jewellers Share Price Jumps 12% After Q2 FY27 Results, Hits 52-Week High; Here's Why
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Management Said, "The ongoing festive quarter has started off very well and we are very encouraged by the growth on the ground, especially during Navratri and Dhanteras. We are upbeat about the wedding season and look forward to ending the quarter on a strong note."
✨ Key Takeaways
Kalyan Jewellers reported a 31 per cent YoY increase in consolidated revenue to Rs 10,322.6 crore in Q2 FY27, compared with Rs 7,856 crore in the corresponding quarter last year. EBITDA rose 30 per cent to Rs 644.5 crore from Rs 497 crore, while the EBITDA margin stood at 6.2 per cent, compared with 6.3 per cent a year earlier. Consolidated net profit increased 64 per cent to Rs 427.1 crore from Rs 260.5 crore, with the net profit margin improving to 4.1 per cent from 3.3 per cent. The quarterly profit included a one-time exceptional gain of Rs 73.5 crore from the sale of non-core real estate assets.
The India business remained the primary growth driver, with reported revenue increasing 32 per cent YoY to Rs 9,007.2 crore from Rs 6,842.8 crore. Excluding bullion sales, revenue grew 27 per cent to Rs 8,700.7 crore, supported by approximately 20 per cent same-store sales growth and 23 per cent growth in the B2C business. India EBITDA rose 27 per cent to Rs 548.5 crore, while net profit increased 62 per cent to Rs 424 crore. Non-South India revenue grew 31 per cent, compared with 23 per cent growth in South India. Gold jewellery revenue increased 28 per cent, while studded jewellery revenue rose 27 per cent.
The Middle East business recorded 11 per cent revenue growth to Rs 961.3 crore from Rs 865.7 crore, supported by approximately 12 per cent same-store sales growth. EBITDA increased 15 per cent to Rs 70.6 crore, although net profit declined 19 per cent to Rs 12.2 crore, partly reflecting higher finance costs.
On the expansion front, Kalyan Jewellers plans to add 84 Kalyan showrooms in India and six in international markets during FY27, alongside 50 Candere showrooms. The company is focusing on its franchise-owned, company-operated (FOCO) model to support expansion with lower capital requirements. Its longer-term priorities include increasing revenue contribution from non-South India, expanding Candere's lightweight jewellery network and targeting mid-to-high single-digit same-store sales growth. The company also plans selective conversion of existing company-owned stores into the FOCO format to improve capital efficiency.
As of 9:52 am on November 11, 2026, Kalyan Jewellers shares were trading at Rs 682.05, up 11.63 per cent from the previous close. The company’s market capitalisation stood at about Rs 63,101 crore. The stock has gained 21.04 per cent over one year, compared with a 0.08 per cent decline in the BSE 500 over the same period. Foreign institutional ownership increased by 3.01 percentage points to 13.83 per cent.
Disclaimer: The article is for informational purposes only and not investment advice.