Kalyan Jewellers India shares dive nearly 9% after Q1 FY27 biz update; analysts weigh in
Kalyan noted that international markets accounted for approximately 14 per cent of its consolidated revenue in the recently concluded quarter.
- Jul 7, 2026,
- Updated Jul 7, 2026 11:41 AM IST
Shares of Kalyan Jewellers India Ltd plunged 8.62 per cent to a low of Rs 348.35 in Tuesday's early trade following the release of its business update for the June quarter (Q1 FY27).
"The recently concluded quarter has been a very satisfying one, recording consolidated revenue growth of approximately 38 per cent when compared to the same period in the previous financial year," it stated.
"We saw revenue growth in excess of 38 per cent for our India operations during Q1 FY2027 as compared to Q1 FY2026, 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 3-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 per cent," Kalyan Jewellers added.
"Our international operations recorded revenue growth of approximately 35 per cent for the recently concluded quarter when compared to the same period during the previous financial year. Within the Middle East specifically, we witnessed revenue growth of approximately 30 per cent for Q1 FY2027 as compared to Q1 FY2026, driven predominantly by same-store-sales-growth despite the impact on footfall during the month of April due to the geopolitical tensions in the region," the company also said.
It noted that international markets accounted for approximately 14 per cent of its consolidated revenue in the recently concluded quarter.
"Our digital-first jewellery platform, Candere, recorded a revenue growth of approximately 112 per cent during the recently concluded quarter as compared to the same period during the last year. During the recently concluded quarter, we launched 12 Kalyan showrooms and 5 Candere showrooms in India," Kalyan Jewellers stated.
"The ongoing quarter has started off well and we are upbeat about the new showroom launches, gearing up with fresh collections and campaigns for the upcoming festive and wedding season across the country As of June 30, 2026, our total number of showrooms across India and international markets stood at 524 (Kalyan India – 354, Kalyan Middle East – 38, Kalyan USA – 2, Kalyan UK – 1, Candere – 129)," it further said.
On the technical front, some analysts indicated that the stock remains bearish on the charts, with one recommending against initiating fresh positions.
AR Ramachandran, a Sebi-registered research analyst at Tips2trades, noted, "Kalyan Jewellers' stock is bearish on daily charts with strong resistance at Rs 381. A daily close below the support of Rs 350 could trigger a fall towards Rs 327 in the near term."
Virat Jagad, Senior Technical Research Analyst at Bonanza, said, "The counter is showing bearish price action. A fresh entry is not suggested at current levels. Existing long positions should be maintained with a strict stop loss of Rs 335.
Osho Krishan, Chief Manager - Technical & Derivative Research at Angel One, said, "The stock showcased a strong fall and plunged below all its significant EMAs. The counter is in a secular downtrend with no sustainable respite. The Rs 340-330 zone is a pivotal support zone, and a breakdown is likely to aggravate the sell-off. On the higher end, the Rs 380-400 range is likely to act as a sturdy hurdle for the counter."
Shares of Kalyan Jewellers India Ltd plunged 8.62 per cent to a low of Rs 348.35 in Tuesday's early trade following the release of its business update for the June quarter (Q1 FY27).
"The recently concluded quarter has been a very satisfying one, recording consolidated revenue growth of approximately 38 per cent when compared to the same period in the previous financial year," it stated.
"We saw revenue growth in excess of 38 per cent for our India operations during Q1 FY2027 as compared to Q1 FY2026, 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 3-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 per cent," Kalyan Jewellers added.
"Our international operations recorded revenue growth of approximately 35 per cent for the recently concluded quarter when compared to the same period during the previous financial year. Within the Middle East specifically, we witnessed revenue growth of approximately 30 per cent for Q1 FY2027 as compared to Q1 FY2026, driven predominantly by same-store-sales-growth despite the impact on footfall during the month of April due to the geopolitical tensions in the region," the company also said.
It noted that international markets accounted for approximately 14 per cent of its consolidated revenue in the recently concluded quarter.
"Our digital-first jewellery platform, Candere, recorded a revenue growth of approximately 112 per cent during the recently concluded quarter as compared to the same period during the last year. During the recently concluded quarter, we launched 12 Kalyan showrooms and 5 Candere showrooms in India," Kalyan Jewellers stated.
"The ongoing quarter has started off well and we are upbeat about the new showroom launches, gearing up with fresh collections and campaigns for the upcoming festive and wedding season across the country As of June 30, 2026, our total number of showrooms across India and international markets stood at 524 (Kalyan India – 354, Kalyan Middle East – 38, Kalyan USA – 2, Kalyan UK – 1, Candere – 129)," it further said.
On the technical front, some analysts indicated that the stock remains bearish on the charts, with one recommending against initiating fresh positions.
AR Ramachandran, a Sebi-registered research analyst at Tips2trades, noted, "Kalyan Jewellers' stock is bearish on daily charts with strong resistance at Rs 381. A daily close below the support of Rs 350 could trigger a fall towards Rs 327 in the near term."
Virat Jagad, Senior Technical Research Analyst at Bonanza, said, "The counter is showing bearish price action. A fresh entry is not suggested at current levels. Existing long positions should be maintained with a strict stop loss of Rs 335.
Osho Krishan, Chief Manager - Technical & Derivative Research at Angel One, said, "The stock showcased a strong fall and plunged below all its significant EMAs. The counter is in a secular downtrend with no sustainable respite. The Rs 340-330 zone is a pivotal support zone, and a breakdown is likely to aggravate the sell-off. On the higher end, the Rs 380-400 range is likely to act as a sturdy hurdle for the counter."