Kalyan Jewellers India Limited delivered an impressive performance in the recently concluded quarter, recording consolidated revenue growth of approximately 42.00% compared to the same period in the previous financial year. The company's strong showing was driven by robust festive demand and continued expansion across multiple markets.

Q3 FY26 Performance Highlights

The jewelry retailer's performance across different segments showcased broad-based growth momentum:

Operational Expansion and Market Presence

During Q3 FY26, Kalyan Jewellers significantly expanded its retail footprint with strategic store launches:

As of December 31, 2025, the company's total showroom count reached 469 across India and international markets, distributed as follows: Kalyan India (318), Kalyan Middle East (38), Kalyan USA (2), Kalyan UK (1), and Candere (110).

Market Performance and Category Growth

The India operations demonstrated resilience with continued robust demand even after Diwali, despite volatility in gold prices. Growth was broad-based across both plain gold and studded categories, indicating strong consumer confidence and market positioning.

International markets contributed approximately 11.00% to consolidated revenue for the quarter, with the Middle East operations showing particularly strong same-store sales growth. The digital-first jewelry platform Candere's remarkable 147.00% growth highlights the company's successful omnichannel strategy.

Previous Corporate Actions

Earlier, the company had enhanced employee engagement through its Employee Stock Option Plan (ESOP), allotting 1,10,071 equity shares under the Kalyan Jewellers ESOP 2020 scheme. The shares, with a face value of ₹10.00 each, brought the total issued share capital to 10,326,626,020 shares, demonstrating the company's commitment to aligning employee interests with organizational growth.

Note: The quarterly metrics are subject to Limited Review process by Statutory Auditors, with detailed information to follow post board approval of Q3 FY26 results.

Kalyan Jewellers India Limited has successfully obtained shareholder approval for a significant amendment to its Employee Stock Option Plan 2020 (ESOP 2020). The postal ballot results announced on December 15, 2025, show overwhelming support for doubling the stock options available under the plan.

Postal Ballot Results

The voting results demonstrate strong shareholder confidence in the company's employee retention strategy:

Key Details of the Approved Amendment

The amendment increases the total number of employee stock options from 30 lakh to 60 lakh, with each option convertible into one equity share having a face value of ₹10.00. The special resolution was passed with the requisite majority as confirmed in the scrutinizer's report.

ESOP 2020 Features

The amended Employee Stock Option Plan includes comprehensive provisions for employee participation:

Voting Process and Compliance

The company conducted the postal ballot process through National Securities Depository Limited (NSDL) e-voting platform. MR Thiagarajan, Company Secretary in Practice, served as the scrutinizer for the voting process. The postal ballot notice dated November 7, 2025, was sent to shareholders via email on November 13, 2025. The company published requisite notices in The Indian Express (English) and Deepika (Malayalam) newspapers on November 14, 2025.

Strategic Impact

This expansion of the ESOP pool enhances Kalyan Jewellers' ability to attract, retain, and motivate key talent across the organization and its subsidiaries. The overwhelming shareholder approval reflects confidence in the company's strategy to align employee interests with organizational objectives through equity-based compensation. Chairman Vinod Rai announced the results based on the scrutinizer's report submitted on December 15, 2025.