Shares of Kalyan Jewellers India Ltd experienced a significant drop, plunging 8.62% to a low of Rs 348.35 in early Tuesday trade. This decline occurred despite the company releasing a robust business update for the June quarter (Q1 FY27), showcasing substantial revenue growth.
Kalyan Jewellers announced a consolidated revenue growth of approximately 38% for the recently concluded quarter, compared to the same period in the previous financial year.
India Operations Drive Growth
The company's India operations were a major contributor to this growth, recording revenue growth in excess of 38% for Q1 FY27 over Q1 FY26. This performance was attributed to strong operating momentum and healthy same-store-sales-growth across all key markets in the country. This achievement is particularly notable as it occurred despite the 28-day 'Adhik Maas' period, a once-in-three-year phenomenon that typically causes a pause in wedding-related demand in certain regions. During this period, India operations still recorded a same-store-sales-growth of approximately 28%.
International Markets and Digital Expansion
Kalyan Jewellers' international operations also demonstrated strong performance, with revenue growth of approximately 35% for the quarter. Specifically, within the Middle East, revenue grew by about 30% for Q1 FY27 compared to the previous year, primarily driven by same-store-sales-growth. This growth was achieved despite a reported impact on footfall in April due to geopolitical tensions in the region. International markets accounted for roughly 14% of the company's consolidated revenue.
The company's digital-first jewellery platform, Candere, showed exceptional growth, recording a revenue increase of approximately 112% during the quarter compared to the same period last year. During Q1 FY27, Kalyan Jewellers expanded its retail footprint by launching 12 new Kalyan showrooms and 5 new Candere showrooms across India.
Looking ahead, the company stated that the ongoing quarter has started positively, expressing optimism about upcoming showroom launches and preparations for new collections and campaigns in anticipation of the festive and wedding season nationwide. As of June 30, 2026, Kalyan Jewellers operated a total of 524 showrooms across India and international markets, including 354 Kalyan India showrooms, 38 Kalyan Middle East, 2 Kalyan USA, 1 Kalyan UK, and 129 Candere showrooms.