Kalyan Jewellers India shares climb 5% on Q3 business update; key details

Multibagger stock: Shares of Kalyan Jewellers India Ltd climbed 5 per cent in Tuesday's trade after the jeweller in a business update said its consolidated revenue grew 39 per cent  year-on-year (YoY) in the December quarter, and suggested opening of 24 new stores for the quarter. 

Kalyan Jewellers India rose 4.57 per cent to hit a high of Rs 779 on BSE. The scrip is up 107 per cent in the past one year against 29 per cent rise in the BSE Consumer Durables index during the same period. The multibagger stock has rallied a whopping 518 per cent in the past two years.

In an exchange filing, Kalyan Jewellers India said its India operations witnessed revenue growth of approximately 41 per cent in the third quarter, led by strong festive and wedding demand across both gold and studded categories. 

The quarter recorded healthy same-store-sales (SSS) growth of 24 per cent, Kalyan said adding that it launched 24 Kalyan showrooms in India during the recently concluded quarter, with a strong pipeline of showrooms set to open over the course of the ongoing quarter.

"In the Middle East, we witnessed revenue growth of approximately 22 per cent when compared to the same period in the previous financial year. Middle East contributed 11 per cent to our consolidated revenue for the recently concluded quarter. During the recently concluded quarter we launched our first showroom (Company Owned Company Operated) in the United States of America," Kalyan Jewellers India said.

The jeweller said its digital-first jewellery platform, Candere, recorded a revenue growth of approximately 89 per cent YoY during the recently concluded quarter. It launched 23 Candere showrooms in the December quarter.

During the March quarter, it plans to launch 30 Kalyan showrooms and 15 Candere showrooms in India. This would keep the company ahead of its announced showroom roll-out plan of 80 Kalyan showrooms and 50 Candere showrooms in India for FY2025.

"For FY26, we have drawn up plans to launch 170 showrooms across Kalyan and Candere formats - 75 Kalyan showrooms (all FOCO) in non-south India, 15 Kalyan showrooms (all FOCO) across south India and international markets and 80 Candere showrooms in India. We have already started signing LOIs for the Franchisee Owned Company Operated (FOCO) showrooms planned for the next financial year in India and international markets," Kalyan said.