Kalyan Jewellers India Ltd has captured market attention following its strong Q1 FY26 earnings performance. Backed by robust domestic and international growth, the company posted a 48.7% YoY rise in net profit to ₹264 crore and a 31.5% YoY increase in revenue to ₹7,268 crore.
In Q1 FY26, the company’s consolidated revenue reached ₹7,268.48 crore while net profit stood at ₹264.08 crore, marking strong double-digit YoY growth. Standalone PAT came in at ₹256.48 crore, reflecting resilient demand in core markets. EPS for the quarter was ₹2.60. Total income touched ₹7,314.74 crore with total expenses at ₹6,961.77 crore.
The company's revenue has expanded from ₹10,101 crore in FY20 to ₹25,045 crore in FY25, with trailing 12-month revenue nearing ₹26,794 crore. Operating profit is around ₹1,665 crore, with operating margins in the 6–8% range. Profit before tax stands at ~near ₹1,075 crore. ROE and ROCE are approximately 16% and 15% respectively, indicating improved efficiency as the store network scaled.
Kalyan Jewellers is among India's largest jewellery retailers with growing contributions from both gold and studded jewellery. Recent India PAT growth of 55% YoY and international revenue growth of 32% YoY show balanced momentum. Compared to peers like Titan, Kalyan offers stronger near-term growth, though valuations remain sensitive to gold price volatility and festive season dynamics.
Read More: Why Has the Indian Government Restricted Silver Jewellery Imports?!
On October 3, 2025, Kalyan Jewellers India share price opened at ₹468.00 on NSE, above the previous close of ₹465.30. During the day, it surged to ₹484.15 and dipped to ₹462.70. The stock is trading at ₹481.45 as of 12:50 PM. The stock registered a significant gain of 3.47%.
Over the past week, it has moved up by 5.63%, over the past month, it has declined by 4.07%, and over the past 3 months, it has declined by 17.16%.
Kalyan Jewellers India Limited (KJIL), promoted by Mr. T. S. Kalyanaraman and his sons, is an established jewellery retailer in India with an established market presence for more than three decades. It is one of the top jewellery retailers in India having showrooms in 23 states and Union Territories. As of June 30, 2025, the company had 368 stores in India including 287 Kalyan stores and 81 stores of Candere, the lightweight/affordable jewellery brand of the Group.
Candere is housed under a wholly-owned subsidiary, Enovate Lifestyle Private Limited (Enovate). The company also has 36 Kalyan showrooms in West Asia. The stores in West Asia are operated through its overseas wholly-owned subsidiary, Kalyan Jewellers FZE (UAE) and other step-down subsidiaries.
Strong Q1 results and efficient execution have strengthened Kalyan Jewellers’ positioning in the organised jewellery retail space. Investors are watching festive sales, store additions, and upcoming Q2 FY26 commentary for signs of sustained demand and margin strength. With a P/E near 60, the stock trades in line with premium retail valuations.
Disclaimer: This blog has been written exclusively for educational purposes. The securities or companies mentioned are only examples and not recommendations. This does not constitute a personal recommendation or 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 are subject to market risks. Read all related documents carefully before investing.
Published on: Oct 3, 2025, 4:04 PM IST
Team Angel One
We're Live on WhatsApp! Join our channel for market insights & updates
Get the link to download the App
