Kalyan Jewellers shares decline for seventh consecutive session

Kalyan Jewellers shares extend fall on fifth day

Kalyan Jewellers India Ltd. share prices continued to witness a decline for the seventh straight session on January 13. The shares fell by 6 percent at 11:00 am, trading at Rs 588. On Friday, the shares had registered a decline around 3 percent, closing at Rs 627.75

Follow for more live updates

Earlier, the company had released its Q3 FY25 updates last Tuesday, January 7, highlighting likeliness of its net revenue to grow by 39 percent with India business surge standing at 41 percent on festive and wedding demand. The quarter also witnessed growth in same-store-sales, close to 24 percent.

The jeweller launched 24 Kalyan showrooms in India, in the aforementioned quarter, and has a strong pipeline of showrooms for the ongoing quarter. It plans to launch 30 Kalyan showrooms and 15 Candere showrooms in India during the current quarter.

As per the exchange filing, the company plans to launch 170 showrooms for FY26, across Kalyan and Candere formats. Herein, there will be 75 Kalyan showrooms (all FOCO) in non-south India, 15 Kalyan showrooms (all FOCO) across south India and international markets, and 80 Candere showrooms in India.

Previously, ICICI Securities had reiterated its 'ADD' rating on Kalyan Jewellers with a revised target price of Rs 770 per share (previously Rs 740), maintaining a constructive outlook on the company.

For Q2FY25, the company had registered a consolidated net revenue of Rs 6,065.48 crore, marking an increase of 9.57 percent YoY. Its operating profit stood at Rs 242.27 crore (down by 19.39 percent), with Profit After Tax being Rs 130.61 crore, (down by 26.53 percent) and operating margin at 3.99 percent (down by 28.53 percent).