Kalyan Jewellers India shares in focus as Q2 sales up 37%; key details

Shares of Kalyan Jewellers India Ltd are in focus on Monday morning after the jeweller said its consolidated revenue grew 37 per cent for the September quarter on year-on-year (YoY) basis. In a filing to stock exchanges, Kalyan Jewellers India said its domestic operations witnessed sales growth of 39 per cent YoY, due to robust operating momentum on the ground across all markets, with a healthy same-store-sales growth of approximately 23 per cent.

Kalyan Jewellers India said the reduction in custom duty on gold imports announced in Union Budget, has resulted in significantly higher levels of footfalls from the last week of July till the end of August, mostly negating the impact of 14 days of Shradh when sales are typically more muted.

"In comparison, only two days of Shradh were part of the second quarter in the base year. We launched 15 Kalyan Franchisee-Owned-Company-Operated “FOCO” showrooms in India during the recently concluded quarter, with a strong pipeline of showrooms set to open over the course of October in line with our previously communicated guidance," it said.

The Kalyan Jewellers India stock has rallied 97 per cent year-to-date and 184 per cent in the past one year.

In the Middle East, Kalyan Jewellers India recorded a revenue growth of 24 per cent YoY. The jeweller has completed the first set of conversion of owned showrooms to FOCO showrooms, taking the total number of franchised showrooms in the region to four. Middle East contributed 13 per cent to our consolidated revenue for the recently concluded quarter.

"Our digital-first jewellery platform, Candere, recorded a revenue growth of approximately 30 per cent during the recently concluded quarter as compared to the same period during the last year. We launched 12 Candere showrooms during Q2 FY 2025," Kalyan Jewellers India said.