Partial wedding demand has already been captured: Ramesh Kalyanaraman of Kalyan Jewellers

Trade

• Watchlist
• Portfolio
• Message
• Set Alert

 

 

Choose Stock Exchange: BSE LIVE NSE LIVE

26 Aug, 2025 12:21

Volume

Todays L/H

More

×

After witnessing a surge in demand in the second quarter on the back of festivals, which included the auspicious jewelry-buying day Dhanteras, jewellers are looking forward to wedding season now. The projections of record 3.2 million or 32 lakhs weddings during the wedding season in November and December have particularly buoyed the industry.

But Ramesh Kalyanaraman, executive director, Kalyan Jewellers feels that this demand has already been captured during the festive sales.
“The wedding demand has already been partially absorbed during the October sales and hence, we should not get carried away by the 32-lakh figure,” he added.

Kalyanaraman also cautioned that while sales momentum after Diwali has been good and is expected to sustain in December too, it is to be remembered the industry had witnessed a bumper wedding season last year also.

“We are coming from a very high base last year, however, December is expected to be fairly good and we hope to see high double-digit growth in the third quarter,” he added.

According to projections by the industry lobby Confederation of All India Traders (CAIT), about 32 lakh weddings will take place in the country between November 14-December 14. CAIT also estimates that the wedding industry will generate Rs 3.75 lakh crore of trade during the season. Last year, according to various industry estimates, about 25 lakh weddings were solemnised during the season.

Weddings combined with festive sales during Dhanteras and Akshay Tritiya contribute to a significant portion of jewellery sales in the country. Kalyan Jewellers reported revenue growth of approximately 25 percent for the festive period of 31 days approaching Diwali when compared to the same period last year.

Kalyan Jewellers reported a consolidated net revenue of Rs 3,473 crore in the second quarter (Q2) of the financial year 2023 as against Rs 2,889 crore in the corresponding quarter of the previous year, a year-on-year (YoY) jump of 20 percent. The company’s net profit during the period jumped 54 percent YoY to Rs 106 crore as compared to Rs 69 crore reported last year in Q2. Its Earnings Before Interest, Taxes, Depreciation and Amortization (EBITDA) was recorded at Rs 266 crore compared to Rs 228 crore in the same quarter of the previous year, a 17 percent growth YoY.