Shares of jewellery stocks such as Senco Gold, Titan and Kalyan Jewellers surged up to 14% in early morning trade on Wednesday, January 7, following the release of their business updates for the third quarter of the financial year 2025-26 (Q3FY26).
Senco Gold share price emerged as the best performer as it rallied 14% to the day’s high of ₹368.85. Meanwhile, Titan shares jumped 4% to hit a fresh 52-week high of ₹4285 on the BSE. Kalyan Jewellers share price jumped 2.60% to ₹513.65.
All three jewellery players reported a strong show led by festive demand, although they did flag some impact on volumes amid sharp surge in gold prices.
Senco Gold
Senco Gold, whose shares surged the most, posted an encouraging growth of 51% year-on-year (YoY) amid festive buying. It said that the TTM revenue has already reached ~ ₹8000 crore, reflecting consistent YoY growth, loyal customer base and brand positioning.
The company also tapped new areas by opening four stores across four different states. Senco said it is firmly on course to achieve the annual target of 20 new showroom openings for FY26. So far in the first nine months of FY26, it has launched 11 franchises and 5 company-owned stores. It expects to launch another three to four showrooms under the COCO and FOCO models.
“We are thus confident of achieving 25%+ YoY growth for FY26, riding on 31% YoY in 9 months so far,” it added.
Titan
Titan, too, witnessed 41% growth in its jewellery portfolio, buoyed by festive demand. Revenue growth was driven by substantial average selling price (ASP) increases, offsetting flattish buyer growth, the company said.
It said that distinct consumer patterns were observed across product categories. Gold coins nearly doubled in sales, reinforcing their strong investment proposition. The gold (plain) category grew strongly in the late-thirties, reflecting preference for design-led, aesthetic premium offerings during the wedding and festive season, and studded clocked its best performance (yet) for FY26, exhibiting healthy double-digit growth in the mid-twenties. The like-for-like growths (secondary) across all jewellery retail formats (combined) were in the low-thirties.
Overall, considering other divisions like watches, eyecare and emerging business, Titan’s consumer business revenue was higher by 40% YoY.
During the quarter, it added 47 new stores (net) in India.
Kalyan Jewellers
The company, in an exchange filing on Tuesday evening, said that Q3 was “very encouraging” as the company recorded consolidated revenue growth of 42% YoY, driven by festive demand. The company said that demand during the period after Diwali also continued to remain robust despite volatility in gold prices.
The same store sales growth was nearly 27%, it said in the filing, adding that the international revenue was higher by 36% YoY. During the recently concluded quarter, Kalyan Jewellers launched 21 Kalyan showrooms in India, one Kalyan showroom in the United Kingdom, and 14 Candere showrooms in India, taking the total showrooms across the world to 469.
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