Shares of jewellery major Kalyan Jewellers are in focus after the company declared that its board will meet on August 7, 2025, to consider and approve the unaudited financial results for the quarter ended June 30, 2025 (Q1FY26). The announcement comes on the back of a strong operational update for the first quarter, with robust growth reported across India and international markets despite demand headwinds.
In an exchange filing on July 10, Kalyan Jewellers India Ltd informed investors that its Board of Directors will meet on Thursday, August 7, 2025, to review and approve the standalone and consolidated financial results for Q1FY26. The filing, made in compliance with Regulation 29(1) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, also noted that other business matters may be considered at the meeting.
Q1 Business Update Signals Strong Demand
In a preliminary update shared earlier, Kalyan Jewellers reported a 31 percent year-on-year growth in consolidated revenue for the June 2025 quarter. The company stated that despite challenges such as gold price volatility and global geopolitical tensions, the quarter had been “very fulfilling.”
Its India operations saw a revenue growth of 31 percent in Q1FY26 compared to the year-ago period, driven by robust demand during Akshaya Tritiya and the wedding season. The company also posted an 18 percent increase in same-store sales in India.
Internationally, Kalyan Jewellers reported a 31 percent rise in revenue, with its Middle East business contributing a 26 percent growth, mainly fueled by same-store performance. International operations accounted for 15 percent of the company’s total consolidated revenue for the quarter.
The digital-first jewellery platform Candere also saw an impressive 67 percent year-on-year revenue growth during the quarter. The company opened 10 new Kalyan showrooms in India, one in the US, and eight new Candere showrooms during Q1FY26. With these additions, the total showroom count stood at 406 across India and the Middle East as of June 30, 2025.
Looking ahead, Kalyan Jewellers has ambitious expansion plans. The company aims to launch 170 new showrooms during FY26—comprising 75 Kalyan showrooms in non-south India, 15 in south India and overseas markets, and 80 Candere showrooms across India. All Kalyan showrooms are planned under the FOCO (Franchisee Owned Company Operated) model, highlighting the company’s capital-efficient expansion strategy.
March Quarter Snapshot
In Q4FY25, the company reported a 36.5 percent year-on-year increase in net profit to ₹187.6 crore. Revenue also grew 36.6 percent year-on-year to ₹6,181.5 crore. EBITDA rose 34.8 percent to ₹399 crore, although EBITDA margin fell slightly by 10 basis points to 6.5 percent. The strong March quarter performance set the tone for a robust beginning to FY26.
Commenting on the quarter, Executive Director Ramesh Kalyanaraman said, “We had an excellent start to the current financial year despite continuing volatility in gold prices. We witnessed robust growth during Akshaya Tritiya and continue to see encouraging consumer demand, especially for wedding jewellery.”
The company has also proposed a final dividend of ₹1.50 per equity share for FY25, subject to shareholder approval at the upcoming Annual General Meeting.
Stock Performance
Kalyan Jewellers’ stock has gained over 16 percent in the past year. In July 2025 so far, the stock is up around 5 percent, rebounding from a marginal 1 percent decline in June. It saw positive momentum earlier this year with gains of 8.5 percent in May, 10.5 percent in April, and 1 percent in March. However, it had declined 8 percent in February and suffered a steep fall of 34 percent in January.
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