Earnings Review
Strong sales lead Kalyan Jewellers Profit After Tax to grow 32% Year on Year
This story was originally published at 19:58 IST on 4 August 2026
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--Kalyan Jewellers Apr-Jun consol PAT INR 3.49 bln
--Kalyan Jewellers Apr-Jun consol revenue INR 105.89 bln
--Kalyan Jewellers Apr-Jun consol PAT INR 3.49 bln vs INR 2.64 bln yr ago
--Kalyan Jewellers Q1 consol revenue INR 105.89 bln vs INR 72.68 bln yr ago
--Kalyan Jewellers Apr-Jun cost of materials INR 91.0 bln vs INR 69.94 bln
--Kalyan Jewellers Apr-Jun consol EBITDA INR 6.33 bln vs INR 5.08 bln yr ago
--Kalyan Jewellers Apr-Jun consol EBITDA margin 6.0% vs 7.0% year ago
--Kalyan Jewellers Apr-Jun consol EBIT INR 5.18 bln vs INR 4.10 bln yr ago
--Kalyan Jewellers Apr-Jun consol EBIT margin 4.9% vs 5.6% year ago
--Kalyan Jewellers Q1 India revenue INR 90.26 bln vs INR 61.42 bln yr ago
--Kalyan Jewellers: Net added 12 new showrooms in India in Apr-Jun
--Kalyan Jewellers Q1 India studded sales INR 25.33 bln, up 36% YoY
--Kalyan Jewellers Q1 India studded shr 29.7% of India sales vs 30.3% yr ago
--Kalyan Jewellers Q1 India gold revenue INR 58.05 bln, up 37% on yr
--Kalyan Jewellers Apr-Jun India same store sales grew 28% on year
--Kalyan Jewellers Q1 West Asia revenue INR 13.20 bln vs INR 10.27 bln
--Kalyan Jewellers Apr-Jun West Asia same store sales grew 25% on year
--Kalyan Jewellers: Have 38 showrooms in West Asia on Jun 30 vs 36 yr ago
--Kalyan Jewellers: Total showrooms in India, West Asia at 392 on Jun 30
By Avishek Rakshit and Devanshu Singla
KOLKATA – Kalyan Jewellers India Ltd. Tuesday reported a sharp 32% on year increase in its consolidated net profit for the June quarter to INR 3.49 billion namely on account of higher sales. Its consolidated revenue, inclusive of gold prices and jewellery making charges increased around 46% on year to INR 105.89 billion in the aforesaid quarter. The company also benefitted from higher treasury income which rose over 20% on year further aiding the top line.
The company's revenues from India increased nearly 47% in the June quarter to INR 90.26 billion led by robust operating momentum on the ground with healthy same-store-sales-growth across all the key markets in the country despite the 28-day Adhik Maas period falling fully in the recently concluded quarter.
Adhik Maas is a once in a three-year phenomenon during which wedding related demand tends to take a pause in certain parts of the country. The recently concluded quarter recorded same-store-sales-growth of approximately 28%.
In India, the company's sales of studded jewellery increased 36% on year to INR 25.33 billion but the share of studded jewellery sales to total sales fell 29.7% in the June quarter as compared to 30.3% in the year-ago quarter. The company's revenue from gold sales in India increased 37% on year to INR 58.05 billion.
Kalyan Jewellers' earnings before interest, tax, depreciation, and amortisation increased 25% on year to INR 6.33 billion for the June quarter. The EBITDA margin contracted to 6% from 7% in the year-ago quarter. Its earnings before interest and tax rose 26% on year to INR 5.18 billion, with EBIT margin of 4.9%.
The company's gross margin was impacted by higher proportion of exchanged gold, promotional offers as part of the exchange campaign and one-off gain in platinum and silver sale during the year-ago quarter, the company said in a presentation.
The company's revenue from West Asia grew 29% on year to INR 13.20 billion, driven by healthy same-store sales growth of 25%. The share of studded jewellery sales to total West Asia sales declined to 16.3% from 18.3% in the year-ago quarter. The company now has 38 showrooms in West Asia, up from 36 in the year-ago quarter. It has a total of 392 showrooms in India and West Asia.
Kalyan Jewellers reported total income grew 46% on year to INR 106.45 billion. The company's total expenses increased 46% on year to INR 101.80 billion for the June quarter. The company's cost of materials consumed increased 30% to INR 91 billion, other expenses rose 9% to INR 3.16 billion, and employee benefit expenses increased 51% to INR 3.15 billion.
The company's earnings were released after market hours. Tuesday, shares of Kalyan Jewellers closed almost 3% lower at INR 591.40 on the National Stock Exchange. End
Edited by Deepshikha Bhardwaj
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