Kalyan Jewellers’ Q1 revenue jumps 46%; ICICI Securities lifts target to ₹680
Kalyan Jewellers reported Q1 FY27 consolidated revenue of ₹10,589 crore, up 45.7% year on year, while PAT rose 32% to ₹349 crore. ICICI Securities retained its Buy call and raised its target price to ₹680 from ₹670, citing demand momentum, store productivity and debt reduction.
Kalyan Jewellers reported strong Q1 FY27 growth, with revenue up 45.7% and PAT up 32% year-on-year. ICICI Securities retained its Buy rating and raised its target to Rs 680, citing demand, same-store sales, improving returns and debt reduction.
Why this matters
The update follows Kalyan Jewellers’ Q1 FY27 margin slipping 120 bps despite 46% revenue growth and its Tamil Nadu ATM-brand launches with planned store additions, highlighting expansion-led growth alongside margin pressure.
Retail-company signals are accelerating, up +207529% QoQ.