Kalyan Jewellers is entering the festive and wedding season with a consolidated revenue growth of more than 26 per cent in the second quarter of FY27, led by a 27 per cent increase in India operations and a 20 per cent rise in same-store sales. International revenue grew 18 per cent, while lifestyle jewellery brand Candere recorded a 64 per cent jump during the quarter, the company said in its quarterly update.
The India business maintained its momentum despite a high base in the year-ago quarter, when all nine days of Navratri fell within the quarter and drove strong sales. Same-store sales grew around 20 per cent across key markets during the latest quarter.
The company also launched its first regional jewellery brand, Akshaya Thanga Maligai (ATM), in Chennai in August. The brand has seen encouraging revenue traction in its first 40-plus days, with Tamil Nadu’s biggest festive season set to begin from October 11. Kalyan plans to open four more ATM showrooms under the franchise model during FY27, with two slated for the current quarter and two in the fourth quarter.
International markets accounted for around 11% of consolidated revenue. The Middle East, the company’s key overseas market, grew 12 per cent, entirely driven by same-store sales growth.
Kalyan added 12 showrooms in India during the quarter, taking the net addition to 11, besides opening nine Candere stores in India and one Kalyan showroom in the UK.
The company also monetised one of two identified non-core real estate parcels held for sale for Ra 86 crore. It expects to complete the sale of the second parcel, valued at Rs 16 crore, during the current quarter.
The quarter also marked the elimination of non-GML debt, while the company is preparing fresh collections, campaigns and new showroom launches for the upcoming festive and wedding season.
