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Informist, Friday, May. 8, 2026

 

--Kalyan Jewellers:Target stores in Hyd, Bengaluru, Chennai in South India  

--Kalyan Jewellers: Opened 13 stores in South India FY26 

--Kalyan Jewellers: Talks with Arab investors for stores in right direction

--Kalyan Jewellers: First 30-35 days of FY27 have been very good

--Kalyan Jewellers: Plan to open 150 showrooms in FY27

--CONTEXT: Comments by Kalyan Jewellers mgmt in post-earnings analyst call 
--Kalyan Jewellers: Launched 129 stores, cut debt by INR 3.6 bln in FY26

 

By Sunil Raghu and Pallavi Singhal

 

AHMEDABAD/NEW DELHI – Kalyan Jewellers India Ltd. plans to open nearly 150 showrooms in 2026-27 (Apr-Mar) and further reduce its non-gold metal loan exposure to a targetted level of zero, the company's management said in a post-earnings analyst call on Friday. The company said it continued to see strong business growth in April, driven by robust demand during the wedding and festive season in India. The management said strong consumer traction and higher consumption gave it confidence to continue its expansion plans.

 

"...talking about the ongoing quarter, we had an excellent start to the financial year. We witnessed strong growth in our Akshaya Tritiya sales this year, and we continue to see encouraging momentum in consumer demand, especially around the wedding purchases during the current quarter," the management said in the analyst conference call.

 

Kalyan Jewellers India Ltd.'s consolidated net profit for the March quarter more than doubled on year as total expenses rose at a slightly slower pace than the revenue. The data available with Informist showed it was the jeweller's best year-on-year financial performance since at least the June quarter of 2021-22 (Apr-Mar). The company's sales and net profit, however, declined sequentially in Jan-Mar, after logging strong growth in the trailing three months.

 

Kalyan Jewellers' consolidated net profit for the March quarter jumped over 118% on year to INR 4.10 billion. Sequentially, the bottom line declined 1.6%. The company's consolidated revenue rose over 66% on year and declined 0.7% sequentially to INR 102.75 billion in the March quarter. 

 

The company, which had targeted around 84 stores in India during FY26, ended up opening 129 stores across the country, with 13 in South India. The management said that reason for opening less stores in the south was that it had already penetrated into tier-II and tier-III markets. "And outside South India, our expansion is more than 60 showrooms, 65 showrooms in outside South regions. In South, we will restrict in 13, 14, 15 showrooms. And which will be majorly in the metros like Bangalore, Chennai, Hyderabad," the management said.

 

Of the 150 stores planned for FY27, nearly 50-55 will be of Candere, the management said. The outlook of adding 150 stores in FY27 needs to be looked at in the context of the management earlier stating that the store count for the next couple of years would be in the range of 80-90 for Kalyan Jewellers in India.

 

The company's management reiterated its focus on a major franchisee expansion in West Asia through Arab investors, stating while nothing has materalised, "its going in the right direction". Kalyan Jewellers is working with Arab investors not just to own and open new stores but convert old stores with a bigger ticket size. West Asia is one of the important markets for the Kerala-based jeweler. It earned revenue of INR 10.74 billion from West Asia in FY26, compared to INR 7.84 billion in FY25.

 

On debt, the company said it had reduced its debt by INR 3.6 bln in FY26 and over last three years brought down non-gold metal loan from INR 13 billion to INR 3 billion. The management said it would like to retire the entire non-gold metal loan in FY27 itself. "...if things go really well, we might do it by H1 (Apr-Sept) itself," the management said. "But we don't want to guide you in that direction wherein when it's possible, it is possible."

 

The company announced its earnings post market hours. On Friday, shares of the company closed 3.3% higher at INR 424.55 per share on the National Stock Exchange.  End

 

Edited by Avishek Dutta

 

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