Kalyan Jewellers India Limited reported a robust consolidated revenue growth of approximately 31% for the first quarter of fiscal year 2025-2026, compared to the same period in the previous financial year. This significant growth was achieved despite multiple pauses in demand during the quarter, primarily attributed to volatility in gold prices and prevailing geopolitical tensions. The company's performance was bolstered by strong demand during Akshaya Tritiya and the wedding season.
| Category | Number of Showrooms |
|---|---|
| Kalyan India | 287 |
| Kalyan Middle East | 36 |
| Kalyan USA | 2 |
| Candere | 81 |
| Total Showrooms | 406 |
Financial Performance
The company's India operations were a key driver of growth, witnessing a revenue increase of approximately 31% during Q1 FY2026 compared to Q1 FY2025. This was primarily fueled by robust demand during the auspicious Akshaya Tritiya period and the ongoing wedding season. India operations also recorded a healthy same-store-sales-growth of approximately 18% for the quarter.
Kalyan Jewellers' international operations also contributed significantly, recording a revenue growth of approximately 31% when compared to the same period in the previous financial year. Within the international markets, the Middle East region specifically saw a revenue growth of approximately 26% for Q1 FY2026 as compared to Q1 FY2025, predominantly driven by strong same-store-sales-growth. International markets collectively contributed approximately 15% to the company's consolidated revenue for the recently concluded quarter.
The company's digital-first jewellery platform, Candere, demonstrated exceptional performance, recording a revenue growth of approximately 67% during the quarter compared to the corresponding period last year. Candere launched its brand campaign in the second half of May 2025, and the company has observed significant improvements in showroom footfalls, web traffic, and revenue growth post-campaign launch compared to the previous year.
Operational Highlights and Expansion
During the first quarter of FY2026, Kalyan Jewellers continued its strategic expansion by launching new showrooms across its various formats. The company inaugurated 10 new Kalyan showrooms in India, further strengthening its domestic presence. Additionally, it expanded its international footprint with the launch of 1 Kalyan showroom in the United States. The digital-first brand, Candere, also saw physical expansion with the opening of 8 new Candere showrooms in India.
As of June 30, 2025, Kalyan Jewellers' total showroom count across India and the Middle East stood at 406. This includes 287 Kalyan showrooms in India, 36 Kalyan showrooms in the Middle East, 2 Kalyan showrooms in the USA, and 81 Candere showrooms.
Outlook and Future Plans
Kalyan Jewellers has started the ongoing quarter on a positive note and remains optimistic about its future expansion plans. For the full fiscal year 2026, the company has ambitious plans to launch a total of 170 showrooms across both Kalyan and Candere formats. This includes 75 Kalyan showrooms (all FOCO - Franchise Owned Company Operated) in non-south India, with 5 of these being larger-format flagship stores. Furthermore, 15 Kalyan showrooms (all FOCO) are planned for launch across south India and international markets. The company also intends to significantly expand Candere's physical presence with 80 new Candere showrooms across India.
The company is actively preparing for the upcoming festive and wedding season across the country, gearing up with fresh collections and campaigns to capitalize on anticipated demand.
Important Note
The metrics and other details provided in this quarterly update are subject to a limited review process by the company's statutory auditors. A more detailed information update will be released following the approval of the results for the quarter ended June 30, 2025, by the board of directors. The revenue figures mentioned refer specifically to revenue from the sale of goods.
