Kalyan Jewellers stock rises 3% after upbeat quarterly update

Kalyan Jewellers shares are up 41 percent year-to-date.

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Kalyan Jewellers India shares rose 3 percent on July 5 buoyed by the company's upbeat business update for the April-June quarter of FY25. The quarter gone by saw a strong operating performance for the company across India and the Middle East markets despite volatility in Gold prices and an unfavourable base.

At 09.25 am, shares of Kalyan Jewellers were trading at Rs 505 on the NSE.

The company reported a 27 percent on year revenue growth in Q1 of FY25. For the India business, its revenue grew by 29 percent, with same-store sales up by nearly 12 percent during the quarter.

The jewellery maker's Middle East business witnessed revenue growth of nearly 16 percent. The company's Middle East business made up nearly 15 percent of Kalyan's consolidated revenue for the June quarter.

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The company's 'digital-first' jewelry platform, "Candere," also saw 13 percent revenue growth in the quarter under review. Going ahead, Kalyan remains optimistic about new showroom launches and is preparing fresh collections and campaigns for the upcoming festive and wedding season, starting with Onam towards the end of the September quarter.

The company has planned to open over 130 showrooms across various markets during the current financial year. In addition to the showrooms already opened, there are plans to launch another 40 Kalyan showrooms in India and nearly 30 Candere showrooms. The company also aims to launch its first showroom in the US by Diwali this year.

During the quarter, Kalyan launched 13 Franchise-Owned-Company-Operated showrooms in India and has a strong pipeline of showrooms set to open in the coming quarters, in line with its earlier guidance. Kalyan Jewellers currently has 277 showrooms across India and the Middle East, along with Candere. In the quarter under review, 24 new Kalyan and Candere showrooms were launched.

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