Kalyan Jewellers India Limited reported consolidated revenue growth of approximately 38% for the quarter ended June 30, 2026, compared to the same period in the previous financial year. The growth was driven by robust operating momentum and healthy same-store-sales-growth (SSSG) across key markets, despite the 28-day Adhik Maas period falling entirely within the quarter.

India Operations

India operations recorded revenue growth in excess of 38% during Q1 FY2027 compared to Q1 FY2026, with same-store-sales-growth of approximately 28% during the quarter. The company launched its 'Shine with India' gold recirculation campaign in the second half of May, increasing the share of recycled gold to over 46% of revenue during the quarter. For the month of June, the share of recycled gold exceeded 55%.

International Operations

International operations recorded revenue growth of approximately 35% for the quarter compared to the previous financial year. Within the Middle East, revenue growth was approximately 30%, driven by same-store-sales-growth despite the impact on footfall during April due to geopolitical tensions. International markets contributed approximately 14% to consolidated revenue.

Candere and Showroom Expansion

The company's digital-first jewellery platform, Candere, recorded revenue growth of approximately 112% during the quarter compared to the same period last year. During the quarter, the company launched 12 Kalyan showrooms and 5 Candere showrooms in India, bringing the total showroom count to 524 as of June 30, 2026.

The following table summarises key operational metrics and showroom details for Q1 FY2027:

Showroom Breakdown

As of June 30, 2026, the total showroom network comprised the following:

The metrics provided are subject to the Limited Review process by the Statutory Auditors.

Kalyan Jewellers India Limited has approved the conversion of inter-company loans into equity shares in its wholly owned subsidiary, Kalyan Jewelers Inc, to strengthen the capital structure of the US-based entity. The Executive Committee of the Board of Directors approved the conversion of USD 12,034,607 into 12,034,607 equity shares of USD 1 each at a meeting held on June 26, 2026. This strategic move is intended to improve the subsidiary's profitability, support future growth, and optimize its debt-equity ratio.

The transaction falls under the ambit of related party transactions as Kalyan Jewelers Inc is a wholly owned subsidiary of the company. It was conducted at arm’s length, and the conversion will not alter the percentage of equity shareholding, with the subsidiary continuing to remain 100% owned by Kalyan Jewellers India Limited. The approval was granted in compliance with applicable laws, rules, and regulations, including Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Financial Details of Kalyan Jewelers Inc

Kalyan Jewelers Inc is engaged in the retail sale of jewellery in the United States and was incorporated on October 25, 2017. The subsidiary has reported a significant rise in turnover over the last three fiscal years, reflecting its operational expansion.

The conversion of the pre-existing loan into equity marks a pivotal step in bolstering the financial health of the subsidiary. By enhancing the strength of its balance sheet, the company aims to better position Kalyan Jewelers Inc for sustained operational growth in the US market.