Kalyan Jewellers Q2 revenue jumps 30% YoY; Candere business surges 127%

Its digital-first brand Candere surged 127% year-on-year, while the company plans to open 15 more showrooms before Diwali.

Kalyan Jewellers reported a strong second quarter for FY2026, posting a consolidated revenue growth of around 30 percent year-on-year, driven by buoyant wedding demand, festive buying, and a sharp rebound in its digital-first platform, Candere.

According to the company’s quarterly update, India operations recorded a 31 percent revenue growth during Q2 FY2026 compared to the same period last year. The uptick was led by robust wedding jewellery demand and an early festive push, with Navratri sales—absent in the base quarter—helping offset the high comparison base created by customs duty cuts in the previous year. Same-store sales growth came in at about 16 percent.

International operations delivered a steady performance, with revenues rising 17 percent year-on-year. The Middle East business grew about 10 percent during the quarter, entirely on account of same-store sales growth. International markets contributed around 12 percent to Kalyan’s consolidated revenue in Q2.

The company’s digital-first brand, Candere, was the standout performer, reporting a 127 percent surge in revenue compared to the year-ago period. Kalyan said the brand saw a significant jump in showroom footfalls, online traffic, and overall revenue momentum.

During the quarter, Kalyan Jewellers expanded its retail footprint with 15 new showrooms in India, two in the Middle East, and 15 Candere outlets across India. As of September 30, 2025, the company’s total showroom count stood at 436, comprising 300 in India, 38 in the Middle East, 2 in the USA, and 96 Candere stores.

Kalyan also said it secured approval from its lead consortium bank for the release of real estate collateral linked to repaid debt, paving the way for the next phase of debt reduction as part of its FY2026 targets.

Looking ahead, the company expressed optimism for the ongoing festive quarter, citing strong footfalls across major markets and the upcoming launch of 15 more Kalyan showrooms before Diwali.