Kalyan Jewellers India Limited filed its Business Responsibility and Sustainability Report (BRSR) for FY26 with the National Stock Exchange of India Ltd. and BSE Limited on August 20, 2026. The disclosure, made pursuant to Regulation 34(2)(f) of the SEBI Listing Obligations & Disclosure Requirements Regulations 2015, outlines the company's non-financial performance across environmental, social, and governance parameters.

The report covers the standalone operations of the entity, which reported a turnover of ₹3,10,27,09,20,000 and a net worth of ₹61,20,54,90,000 for the period. Vinay & Keshava LLP provided reasonable assurance on the BRSR Core indicators, verifying data related to greenhouse gas emissions, water footprint, energy consumption, waste management, and employee well-being.

Environmental Performance

The company disclosed its total energy consumption from non-renewable sources at 2,13,127.66 Giga Joules for FY26, an increase from 1,74,328.97 Giga Joules in FY25. No energy was consumed from renewable sources during either period. The energy intensity per rupee of turnover stood at 0.0000006869 in FY26, compared to 0.0000008056 in the previous year.

Water withdrawal was recorded at 2,40,921.90 kilolitres, sourced entirely from third parties. Total water consumption amounted to 48,184.38 kilolitres, while water discharged to third parties without treatment was 1,92,737.52 kilolitres. The company noted that it does not have manufacturing plants, rendering air emissions such as NOx, SOx, and particulate matter negligible.

Greenhouse gas emissions were detailed as follows:

Total waste generated was 1,070.76 metric tonnes, classified as non-hazardous. No plastic, e-waste, or hazardous waste was reported.

Employee Welfare and Safety

As of the end of FY26, the company employed 14,668 permanent employees, comprising 11,617 males and 3,051 females. There were no workers in the contract category. The turnover rate for permanent employees was 49.41%, down from 52.84% in FY25.

The company reported zero lost-time injuries, fatalities, or high-consequence work-related incidents for both FY26 and FY25. Health insurance coverage extended to 100% of permanent employees. Maternity benefits covered all female employees, while accident insurance and paternity benefits were not provided.

Governance and Stakeholder Engagement

The Board of Directors comprises 10 members, including one female director (10%). Key Management Personnel included three individuals, none of whom were female. The company maintains an ESG Committee responsible for decision-making on sustainability issues.

Grievance redressal mechanisms are in place for all stakeholder groups. During FY26, the company received 10 complaints from shareholders and 10 from customers. All shareholder complaints were resolved by year-end, while 7 customer complaints remained pending. No fines, penalties, or disciplinary actions for corruption or bribery were reported.

Kalyan Jewellers reported a robust first quarter for FY27, with consolidated revenue rising 38% year-on-year to ₹10,008 crore and profit after tax (PAT) increasing 32% to ₹349 crore. The strong performance was driven by resilient demand despite the impact of Adhik-Maas, which slowed wedding-related purchases in certain regions during part of the quarter. Management highlighted that the company is on track to become non-GML debt-free by September 2026, following the sale of non-core real estate assets valued at approximately ₹102 crore.

The earnings call transcript, filed with stock exchanges on August 8, 2026, under Regulation 46(2)(oa) of the SEBI LODR Regulations, provided detailed insights into the financial results and strategic initiatives. Executive Director Ramesh Kalyanaraman and CEO Sanjay Raghuraman led the discussion, emphasizing the success of the "Shine with India" gold recirculation campaign. This initiative increased the share of recycled gold as a percentage of revenue to over 46% in Q1FY27, with June alone seeing recycled gold share exceed 55%. The company aims to maintain this share between 55% and 60% going forward to reduce dependence on imported gold and mitigate forex pressures.

Financial Performance Breakdown

Consolidated EBITDA grew to ₹633 crore from ₹508 crore in the corresponding quarter of the previous year. The India business contributed significantly, with revenue reaching ₹8,503 crore (up from ₹6,142 crore) and PAT at ₹321 crore (up from ₹256 crore). The Middle East operations also showed growth, posting revenue of ₹1,320 crore and PAT of ₹25 crore. Notably, the e-commerce venture Candere turned profitable, reporting a PAT of ₹2.1 crore against a loss of ₹10 crore in the prior year, with revenue doubling to ₹141 crore.

Strategic Initiatives and Margin Outlook

A key strategic development is the launch of "Akshaya Thanga Maligai" (ATM), a regional brand tailored for Tamil Nadu markets. The first showroom opened in Chennai on August 21, 2026, with four more planned in the coming months. This asset-light FOCO (Franchise Owned Company Operated) model targets regional preferences, competing directly with local players rather than national chains. Management confirmed no change to the full-year target of opening 84 Kalyan showrooms and 50 Candere stores.

Regarding margins, management addressed concerns about margin dilution from old gold exchanges, which typically reduce margins by 0.2%-0.3%. However, they noted that the growing "cash for gold" segment, where customers sell gold for cash rather than exchanging it, is margin-accretive as gold is bought at a discount to spot prices. This shift, combined with a one-time customs duty benefit of approximately ₹40-60 crore expected in Q2, is projected to help maintain PBT margins comparable to the previous financial year. Employee costs saw a 54% increase due to enhanced increments, but management expects operating leverage to offset this over time.