Multibagger stock in focus: Kalyan Jewellers India shares Q1 update, says revenue up 27%

Multibagger stock: Shares of Kalyan Jewellers India Ltd are in focus on Friday morning after the jewellery maker said the June quarter witnessed a robust operating performance across all its markets in India and Middle East despite extreme volatility in gold prices and a strong base quarter. 

Kalyan Jewellers India said it is upbeat about the upcoming new showroom launches and is gearing up with fresh collections and campaigns for the upcoming festive and wedding season across the country, starting with Onam towards the end of the current quarter. 

In addition to the recently announced plan of launching 130-plus new showrooms in FY25, Kalyan said it has drawn up plans to launch another 40 Kalyan showrooms in India, 30 Candere showrooms and the first showroom in the US by Diwali.

For the June quarter, it launched 24 showrooms across Kalyan and Candere formats, taking the total number of showrooms to 277 (Kalyan India:  217, Kalyan Middle East: 36 and Candere: 24) at the end of June quarter.

Kalyan Jewellers India shares have rallied 233 per cent in the past one year and 703 per cent in the past two years. In 2024 so far, the scrip is up 36 per cent against 11 rise in the BSE Sensex. 

In a filing to BSE, Kalyan Jewellers India said Q1FY2025 recorded consolidated revenue growth of approximately 27 per cent when compared to the same period in the previous financial year.

"We saw revenue growth of approximately 29 per cent for our India operations during Q1FY2025 as compared to Q1FY2024, led by robust operating momentum on the ground with healthy same-store-sales-growth of approximately 12 per cent. We launched 13 Kalyan Franchisee-Owned-Company-Operated “FOCO” showrooms in India during the recently concluded quarter, with a strong pipeline of showrooms set to open in the coming quarters in line with our previously communicated guidance," Kalyan Jewellers said.

In the Middle East, Kalyan Jewellers India witnessed revenue growth of approximately 16 epr cent when compared with the same period in the previous financial year, driven largely by same-store-sales growth. The Middle East contributed 15 per cent to Kalya's consolidated revenue for the recently concluded quarter.

"Our digital-first jewellery platform, Candere, recorded a revenue growth of approximately 13% during the recently concluded quarter as compared to the same period during the last year.
During the quarter, we have signed documentation to increase our stake in the business and hence convert Enovate Lifestyles Private Limited (Candere) to a wholly owned subsidiary of Kalyan Jewellers India Limited," Kalyan said.