Senco Gold, Kalyan Jewellers shares jump up to 14% after strong Q3 business updates

Senco Gold, Kalyan Jewellers share price

• Senco Gold shares surged 14% after reporting 51% YoY Q3 growth for FY26
• Kalyan Jewellers shares up 7% as Q3 revenue jumps 42% YoY on festive demand
• Both companies plan further showroom expansion and expect strong growth ahead

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The shares of Senco Gold and Kalyan Jewellers India jumped in trade on January 7 after the companies released strong business updates for the third quarter of the financial year 2026.

Senco Gold shares rallied 14 percent to Rs 368.4 apiece, while Kalyan Jewellers India shares jumped 7 percent to Rs 535 apiece.

Senco Gold Q3 update:

Senco Gold released its Q3 business update in the post market hours of January 6. The company recorded a 51 percent year-on-year (YoY) growth in the October-December quarter of the ongoing FY26. This takes the total growth to 31 percent in the first nine months of FY26 (April-December), after 6.5 percent growth in Q2 and 28 percent in Q1.

“Our TTM revenue has already reached ~₹8000 crore, reflecting consistent YoY growth, loyal customer base and brand positioning. The Q3 YoY growth includes retail business growth of ~49% and SSSG of ~39% growth. The 9-month topline growth of 31% includes SSSG of ~21% growth. This uplift was led by targeted festive campaigns, new design launches and intensive customer engagement during Dhanteras & Diwali, wedding buying and shift of demand of Q2 to the festive season. Diamond jewellery sales continued to maintain strong growth momentum in Q3 to ~36% YoY growth and 9-month growth of ~34%,” the firm said.

During the quarter under review, Senco Gold launched 4 new franchise showrooms, taking the total showroom network to 196 (inclusive of 8 Sennes and 2 international showrooms). “We have successfully navigated the peak festive demand of Q3 and continue to optimise our inventory more towards a Lightweight and budget-friendly product range due to rising gold prices. We are prepared for the upcoming Q4 wedding season, Valentine's Day and International Women's Day, and other local festivals and targeting growth in the studded category through curated collections with 18%~20% growth,” it added.

The company said that it is on course to achieve its annual target of 20 new showroom openings for FY26, and expects another 3 to 4 showrooms under the COCO and FOCO models to achieve the milestone of 200 showrooms and have a robust pipeline for H1 next year. Senco Gold is confident of achieving more than 25 percent YoY growth for FY26.

Kalyan Jewellers Q3 business update:

Kalyan Jewellers reported a consolidated revenue growth of approximately 42 percent YoY during Q3 FY26. The firm’s India operations witnessed revenue growth of nearly 42 percent during Q3 FY26 as against Q3 FY25, driven primarily by strong festive demand.

“Demand during the period after Diwali also continued to remain robust despite volatility in gold prices. Growth was broad-based across plain gold and studded categories. The quarter recorded healthy same-store-sales-growth of approximately 27%,” the company said.

Kalyan's international operations recorded revenue growth of approximately 36 percent for the recently concluded quarter when compared to the same period during the previous financial year. “Within the Middle East specifically, we witnessed revenue growth of approximately 28% for Q3 FY2026 as compared to Q3 FY2025 driven majorly by same-store-sales-growth. International markets contributed approximately 11% to our consolidated revenue for the recently concluded quarter,” the firm added.

Spot gold prices rose nearly 12 percent during the quarter, to close out a calendar year in which the precious metal clocked its steepest rise since 1979, driven by geopolitical uncertainties, rate cuts and robust central bank buying.

"Higher prices did have an impact on volumes, but not on (overall) spending," said Dharmesh Kant, head of equity research at Cholamandalam Securities. Kant added that jewellery companies also benefitted from higher cash in the hands of people as a result of fiscal policies like GST cuts and income tax relief, as well as low inflation.

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