Retail jeweller Kalyan Jewellers India Ltd (KJIL) has recorded 64% growth in its provisional and unaudited consolidated revenue growth for the March quarter and 42% growth for the full year against the corresponding period last year.
Indian operations growth
India operations witnessed revenue growth in excess of 65% during Q4, driven primarily by strong same-store-sales-growth (SSSG) across most of the key markets.
Both wedding and discretionary demand stayed robust during the quarter despite volatile gold prices. The quarter recorded 45% in SSSG growth and 43% for full year.
International operations and geo-political situation.
KJIL’s international operations recorded revenue growth of 45% for Q4. Within the Middle East specifically, witnessed 39% revenue growth driven predominantly by SSSG growth.
Ongoing geopolitical situation in the region impacted customer walk-ins during the first three weeks of March even though the showrooms remained open. Excellent Ramadan sales during the last 10 days of the month made up for the impact on customer walk-ins during the rest of the month.
For the full year FY2026, International business recorded 33% revenue growth.
Digital first growth
KJIL’s digital-first jewellery platform, Candere, recorded over 360% revenue growth in Q4 and 160% for the full year.
Product launches
During the quarter, the retail jeweller launched 28 (net 24) Kalyan showrooms in India, and 14 Candere showrooms. Ongoing geopolitical situation in West Asia has caused supply side disruptions for building materials impacting some of the showroom launches planned during the month of March.
Upbeats on FY27 outlook
The new financial year has started off well with strong footfalls across most of the markets. We are upbeat about the ongoing quarter and are witnessing encouraging trends in the advance collections for both Akshaya Tritiya as well as for wedding purchases for the festive/wedding season.