Kalyan Jewellers Stock Price Up 3% After Upbeat Quarterly Report

On July 5, Kalyan Jewellers India shares increased by 3%, driven by the company's positive business update for the April-June quarter of FY25. Despite volatility in gold prices and an unfavorable base, the company experienced strong operating performance across both the Indian and Middle Eastern markets during the quarter.

At 09:25 AM IST, Kalyan Jewellers share price were trading at ₹505 on the NSE. The company reported a 27% year-on-year revenue growth for Q1 of FY25. In its India business, revenue increased by 29%, with same-store sales rising by nearly 12% during the quarter. The Middle East business saw a revenue growth of nearly 16%, contributing approximately 15% to Kalyan's consolidated revenue for the June quarter.

The company's 'digital-first' jewelry platform, "Candere," experienced a 13% revenue growth in the quarter under review. Looking forward, Kalyan remains optimistic about launching new showrooms and is preparing new collections and campaigns for the upcoming festive and wedding season, beginning with Onam towards the end of the September quarter.

The company plans to open over 130 showrooms across various markets during the current financial year. In addition to the showrooms already opened, there are plans to launch another 40 Kalyan showrooms in India and nearly 30 Candere showrooms. Furthermore, the company aims to inaugurate its first showroom in the US by Diwali this year.

During the quarter, Kalyan launched 13 Franchise-Owned-Company-Operated showrooms in India and has a robust pipeline of showrooms set to open in the coming quarters, aligning with its earlier guidance. Currently, Kalyan Jewellers operates 277 showrooms across India and the Middle East, including Candere. In the quarter under review, 24 new Kalyan and Candere showrooms were opened.

TS Kalyanaraman, Managing Director at Kalyan Jewellers, expressed excitement about exploring an emerging market segment within the jewellery industry with Candere. The focus will be on lightweight, fashion-forward, and universally appealing designs. The company also announced plans to launch new collections for the upcoming festive and wedding season, starting with Onam at the end of the quarter.