Kalyan Jewellers
What it means
Kalyan Jewellers is growing faster than it earns; making charges and the studded mix will have to make up the gap.
Reported: Revenue +45.7% YoY, net profit +32% in Q1 FY27.
Watch: Q2 FY27 results, expected early Nov — the gap between revenue and net profit growth widens past Q1's 13.7 points.
- Affected
- Karigars and bullion suppliers across its 483 showrooms (Mint, ) — pressure on termsDo now: lock price floors and payment terms before its next results.
- Titan and Senco Gold — less risk of a price warDo now: hold your prices where you overlap with Kalyan Jewellers.
Latest moves
Our read of each move first, where we have one; what the report said is marked Reported.
Footprint: where Kalyan Jewellers opened
1 store opening in 1 city on record since May 2026; 3 announced plans.
- Mumbai1 opening
Background
From 6 stories, the newest dated 11 Oct 2026. Summary written 11 Oct 2026.
Kalyan Jewellers is a jewellery retailer that had 546 showrooms at 30 September 2026. [1] source: Business Today
Show 3 more paragraphs and 6 sources
Its lifestyle jewellery brand, Candere, posted revenue growth of about 64 per cent year-on-year in Q2. [1] source: Business Today Kalyan Jewellers shares fell around 5.23% to Rs 524.20 on Thursday as Indian jewellery stocks declined. [2] source: NDTV Profit
Kalyan Jewellers reported consolidated revenue growth of more than 26 per cent for Q2 FY27. [1] source: Business Today India revenue grew about 27 per cent and same-store sales grew about 20 per cent. [1] source: Business Today International revenue grew about 18 per cent, and Middle East revenue grew approximately 12%. [1] source: Business Today It plans to launch four franchise showrooms this financial year. [1] source: Business Today On September 30, 2026, it sold approximately 783.25 cents of land in Coimbatore to Shivasakthi Real Estates for ₹86.16 crore, a deal that will not affect business operations. [3] source: CNBC-TV18 UBS upgraded its rating on September 29, and management projected stronger growth for the rest of FY27. [4] source: Financial Express It also launched a Navratri campaign film themed on 'Shakti'. [5] source: ET BrandEquity
Mint reported Q2 FY27 revenue growth of 25% for Titan, 29% for Senco Gold, 28% for PC Jeweller and 22.4% for PN Gadgil, against Kalyan Jewellers' growth of over 26%. [6] source: Mint
Sources
Questions about Kalyan Jewellers
How many Kalyan Jewellers stores are there?
Kalyan Jewellers had 546 showrooms at 30 September 2026, and it plans to launch four franchise showrooms this financial year. [1] source: Business Today
How fast is Kalyan Jewellers growing in India?
Kalyan Jewellers reported consolidated revenue growth of more than 26 per cent in Q2 FY27, with India revenue up about 27 per cent and same-store sales up about 20 per cent. [1] source: Business Today
What is Kalyan Jewellers' current strategy in India?
Kalyan Jewellers plans four franchise showrooms this financial year, as reported in October 2026. [1] source: Business Today It sold Coimbatore land for ₹86.16 crore on September 30, 2026. [3] source: CNBC-TV18 It also launched a Navratri campaign film themed on 'Shakti' in October 2026. [5] source: ET BrandEquity
Who are Kalyan Jewellers' main competitors?
Mint compared Kalyan Jewellers' Q2 FY27 revenue growth of over 26% with Titan at 25%, Senco Gold at 29%, PC Jeweller at 28% and PN Gadgil at 22.4%. [6] source: Mint
More stories about Kalyan Jewellers
- Kalyan Jewellers injects Rs 350 crore into online subsidiary Candere
- Jefferies sees 39% upside for Kalyan Jewellers as jewellery retail formalises
- Jefferies initiates Kalyan Jewellers at Buy, sets ₹830 target on franchise-led growth
- Kalyan Jewellers Q1 FY27 PAT rises 32% as revenue grows 46%
- Kalyan Jewellers Rallies 36% in 3 Days on Strong Q1 Update, Citi's Rs 750 Target
- Kalyan Jewellers drops ~9% despite 38% Q1 FY27 revenue growth
Stories that mention Kalyan Jewellers
11 stories
Kalyan Jewellers is named in these stories but is not their subject.
- Jewellers post strong Q2 FY27: Senco Gold revenue up 31%, PC Jeweller 28%, Kalyan Jewellers more than 26%
- Joyalukkas, Kalyan win Tamil Nadu newborn gold-ring supply orders
- Joyalukkas, Kalyan win ₹755 crore Tamil Nadu gold-ring supply contract
- Shankesh Jewellers opens ₹367 crore IPO, targeting debt reduction and working capital
- Lalithaa Jewellery seeks ₹1,700 crore IPO to fund 10 new stores
- Nykaa, Trent, Titan and Kalyan Jewellers enter Q1 earnings watch
- PDS Signs Multi-Year $250M Apparel Sourcing Deal With French Retailer
- Gold retailers face bruising Q1 FY27 as duty hikes, adhik maas dent volume growth
- Auto, liquor and jewellery brands dominate FIFA World Cup 2026 ad spends: TAM Sports
- MSCI rejig triggers $579mn passive outflow from Jubilant, Kalyan, Hyundai as India weight slips to 12.3%
- Gold duty hike to 15% squeezes jewellers; Titan, Kalyan pivot to exchange schemes and lighter karats