Kalyan Jewellers India Limited reported a strong quarter, with consolidated revenue growth of approximately 30% year-on-year in Q2 FY2026, driven by robust festive demand, aggressive showroom expansion, and booming performance in its digital and international businesses.
📈 Solid Domestic Performance
The company’s India operations grew by about 31% compared to the same quarter last year, supported by strong wedding season demand and an early festive boost from Navratri sales. Despite a high base effect from last year’s customs duty reduction, Kalyan achieved an impressive same-store-sales growth (SSSG) of around 16%, reflecting healthy consumer sentiment and consistent store-level performance.
🌍 International Business Keeps Momentum
Kalyan’s international operations grew 17% year-on-year, with the Middle East recording 10% growth, entirely from same-store sales. International markets contributed around 12% of the company’s total consolidated revenue during the quarter, underscoring steady performance across key geographies.
💻 Candere’s Digital Surge
Kalyan’s online-first brand Candere continued its remarkable trajectory, clocking 127% revenue growth year-on-year. The company cited strong improvement in showroom footfalls, web traffic, and digital conversions—showing how traditional retail and digital channels are working hand in hand.
🏬 Expansion & Network Growth
During Q2 FY2026, the company opened:
- 15 Kalyan Jewellers showrooms in India
- 2 showrooms in the Middle East, and
- 15 new Candere outlets across India
As of September 30, 2025, Kalyan’s retail footprint stood at 436 showrooms worldwide — including 300 in India, 38 in the Middle East, 2 in the USA, and 96 Candere outlets.
Looking ahead, Kalyan plans to launch 15 more showrooms before Diwali, supported by fresh festive collections and marketing campaigns across its major markets.
💰 Debt Reduction Progress
In a positive financial move, Kalyan Jewellers secured approval from its lead bank for the release of real estate collateral tied to repaid debt. The company has resumed the next phase of its debt reduction plan, continuing efforts to strengthen its balance sheet and reduce financing costs.
🛍️ Outlook
The company said the ongoing quarter has started strong, with encouraging footfalls across markets. Management expressed optimism about the festive season, pointing to sustained consumer demand for gold and diamond jewellery.
The company also noted that all metrics remain subject to a Limited Review by Statutory Auditors, and a more detailed financial report will follow after board approval.
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