Midcap stock jumps 7% after reporting 42% YoY increase in revenue

Synopsis: Kalyan Jewellers rose 7% as it witnessed around 42% YoY growth in revenues during Q3 FY26, 27% sales growth and an unprecedented 147% increase in the revenues of the luxury brand, Candere. Strong demand and rapid digital traction drove investor enthusiasm.

The shares of this company, which designs, manufactures and sells a range of gold and other jewellery products across various price points and is one of the largest jewellery retailers in India, had its shares in momentum today following the company reporting its Q3 performance with growth in several performance metrics. 

With the market cap of Rs 53,595 crore, the shares of Kalyan Jewellers India Ltd had hit their intraday high at Rs 535, gaining about 7 per cent compared to their previous day’s closing price of Rs 500.6. The shares are trading at a PE of 57.5, whereas their industry PE is at 25.8.

Q3 FY26 performance.

Kalyan Jewellers had a strong operational quarter in Q3 FY26, marked by robust growth in consolidated revenues of approximately 42% on a year-over-year basis. This quarter saw healthy demand due to festivities, but importantly, the demand saw no deceleration even in the aftermath of Diwali festivals, despite fluctuations witnessed on the gold price charts.

The operations in India have been the major driving factors, logging revenue growth of around 42% YoY, catering to the demand in both plain gold and studded jewellery. The same-store sales expansion of about 27% bears testimony to the fact that it has come from genuine volume growth, as opposed to expansion-led growth.

The international business also reported positive momentum, gaining around 36% in revenues on a YoY basis. The Middle East has also maintained steady performance, posting an average growth of around 28%, mainly driven by same-store sales and not by expansion. The international markets accounted for around 11% of overall revenues.

However, the bright spot in this quarter is none other than Candere, Kalyan’s online jewellery portal, which has registered a staggering YoY growth of 147%. This not only accentuates increased acceptance in online jewellery shopping but also shows that Kalyan is moving in the right direction with respect to this part of the jewellery business. Along with this, they also increased their footprints with a total of 36 new showrooms added in this quarter to reach a total of 469 stores in all corners across the globe.

Financials

The revenue from operations for the company stood at Rs 7,856 crores in Q2 FY26 compared to Q2 FY25 revenue of Rs 6,065 crores, up by about 29 percent YoY. Similarly, the net profit stood at Rs 261 crore in Q2 FY26, up from Rs 130 crore in Q2 FY25.

Kalyan Jewellers have emerged as one of the most trusted jewellery brands in India, upholding values of trust, transparency, and customer-centricity. The company merges traditional craftsmanship with modern design sensibilities, keen to adopt diverse tastes and regional preferences. Its strong focus on customer understanding, ethical standards, and a consistent shopping experience has helped build this relationship and ensured its strength in every market.

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