Jewellery Stocks Shine in FY26: PC Jeweller, Kalyan, Senco Gold Lead the Rally

India’s jewellery sector has defied broader market trends in FY26, delivering glittering returns. While the yellow metal saw a slight pullback after its recent rally, leading jewellery stocks have stayed resilient, underpinned by solid fundamentals and continued investor interest.

PC Jeweller has been the standout performer so far in FY26, with its stock jumping 43%, followed by Kalyan Jewellers India (26%), Senco Gold (25%), and Titan Company (12%).

What’s Driving the Sparkle in Jewellery Stocks?

All 4 companies reported upbeat business updates for Q1 FY26, backed by a successful Akshaya Tritiya season, regional festivities, and an uptick in consumer demand. Expansion efforts and smart marketing have further boosted revenues.

Company-Wise Highlights

1. PC Jeweller: Back in the Spotlight

PC Jeweller is staging a strong comeback, registering 80% YoY revenue growth in Q1, fuelled by wedding and festive sales. What’s really caught investor attention is its focus on becoming debt-free by FY26-end. The company reduced its bank borrowings by 7.5% in Q1, following a 50% cut in FY25 a move that’s lifted market sentiment.

2. Kalyan Jewellers: Expanding on All Fronts

Kalyan is proving the strength of its multi-channel strategy. It reported 31% overall revenue growth in Q1, with same-store sales in India up 18%, and its digital brand Candere growing a remarkable 67%. International business, especially in the Middle East, remained solid, contributing 15% to its total revenue.

3. Senco Gold: Riding the Festive Momentum

Senco Gold capitalised on the festive wave, reporting 28% revenue growth in Q1, driven by 24% retail growth and 19% same-store sales growth. High footfalls during festivals like Akshaya Tritiya, Poila Boishakh, and Baisakhi helped push numbers up. Retail expansion and creative campaigns added to the mix.

4. Titan Company: Steady Wins

Titan remains the most stable and diversified among peers. Tanishq’s domestic jewellery sales rose 18% YoY in Q1. Though high gold prices led to a tilt toward lighter jewellery and coins, ticket sizes increased. While studded jewellery saw slightly subdued volumes, overall performance remains strong thanks to Titan’s brand trust and global ambitions.

Read More: Check Today’s Gold and Silver Prices Across New Delhi, Mumbai, and Other Cities Here!

Conclusion

The strong performance of jewellery stocks in FY26 so far highlights sustained investor interest and solid Q1 business updates across the sector. While various factors such as festive demand, store expansion, and marketing initiatives have supported this trend, market conditions and consumer sentiment may continue to evolve. As always, investors should exercise due diligence and consider individual risk profiles before making any investment decisions.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions.

Investments in securities market are subject to market risks, read all the related documents carefully before investing.