Kalyan shares fall 5% from day's high; what jeweller says on Candere, Iran war, customer walk ins

Shares of Kalyan Jewellers India Ltd on Tuesday fell 5 per cent from day's high amid profit booking after the jeweller said it recorded consolidated revenue growth of approximately 64 per cent in the March quarter on year-on-year basis. International markets contributed approximately 11 per cent to Kalyan's consolidated revenue, the company said in an exchange filing. At day's low of Rs 415.60, Kalyan shares were down 5 per cent from a high of Rs 437.45 hit earlier in the day.  

Geopolitical tensions

Kalyan said the ongoing geopolitical situation in the West Asia impacted customer walk-ins during the first three weeks of March even though the showrooms remained open. Excellent Ramadan sales during the last 10 days of the month made up for the impact on customer walk-ins during the rest of
the month. 
For the full year FY26, International business recorded a revenue growth of approximately 33 per cent when compared to the prior year, it said.

"Our international operations recorded revenue growth of approximately 45% 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 39 per cent for Q4 FY2026 as compared to Q4 FY2025 driven predominantly by same-store-sales-growth," it said. 

India operations strong
Kalyan said its India operations saw 65 per cent growth, driven primarily by strong same-store-sales-growth (SSSG) across most of the key markets. Both wedding and discretionary demand stayed robust during the quarter despite volatile gold prices, it said. 

"The quarter recorded same-store-sales-growth of over 45 per cent. For the full year FY2026, the India business recorded a revenue growth of approximately 43 per cent when compared to the prior year," it said. 

Candere logs 360% growth
Kalyan said its digital-first jewellery platform, Candere, recorded a revenue growth of over 360 per cent Yoy for the quarter. For FY26, Candere recorded a revenue growth of approximately 160 per cent when compared to the prior year.

"During the recently concluded quarter, we launched 28 (net 24) Kalyan showrooms in India, and 14 Candere showrooms. Ongoing geopolitical situation in West Asia has caused supplyside disruptions for building materials impacting some of the showroom launches planned during the month of March.
The new financial year has started off well with strong footfalls across most of the markets," it said.

Kalyan said it is upbeat about the ongoing quarter and are witnessing encouraging trends in the advance collections for both Akshaya Tritiya as well as for wedding purchases for the festive/wedding season.