Despite reporting a strong 31% year-on-year growth in consolidated revenue for the quarter, investor sentiment appeared cautious, leading to a decline in the price of the stock today.
In its Q1FY26 update, the company said consolidated revenue rose by approximately 31% compared to the same period last year, even as the quarter saw intermittent pauses in demand due to volatility in gold prices and geopolitical developments.
The India operations also posted a 31% revenue growth over Q1FY25, driven by robust demand during Akshaya Tritiya and the wedding season. The company reported healthy same-store-sales growth of around 18% for the domestic market.
International operations mirrored the domestic performance with 31% revenue growth year-on-year. In the Middle East, revenue was up 26% during the quarter, largely backed by same-store-sales gains. International markets accounted for nearly 15% of the consolidated revenue for the period.
Kalyan’s digital-first jewellery brand Candere delivered a notable performance, with revenue increasing approximately 67% year-on-year. The company attributed this to its brand campaign launched in May 2025, which led to a boost in showroom footfalls, online traffic, and conversions.Also read: Jane Street probe: Sebi chief Tuhin Kanta Pandey rules out weekly expiry ban, signals tighter derivatives watch
During Q1FY26, the company added 19 new showrooms across formats—10 Kalyan showrooms in India, 1 in the US, and 8 Candere outlets in India. As of June 30, 2025, the company operated 406 showrooms, including 287 in India, 36 in the Middle East, 2 in the US, and 81 under the Candere brand.
Looking ahead, Kalyan reiterated its plan to launch 170 new showrooms in FY26 across formats. This includes 75 Kalyan showrooms (including five flagship outlets) in non-south Indian regions, 15 in south India and international markets, and 80 Candere stores in India.
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