Kalyan Jewellers Q1 revenue rises 46%; 134-store FY27 expansion plan intact
Kalyan Jewellers reported Q1 revenue of ₹10,589 crore and net profit of ₹348 crore, up 46% and 32% year on year. The chain added 12 Kalyan showrooms and five Candere stores, while planning 84 Kalyan FOCO and 50 Candere openings in FY27. Margin pressure and promotions weighed on investor sentiment.
Kalyan Jewellers reported strong Q1 sales and profit growth but margin compression from lower studded-jewellery mix, gold exchanges and promotions triggered a stock sell-off. The retailer added 17 stores and plans 134 Kalyan and Candere openings in FY27.
Why this matters
The results extend Kalyan Jewellers’ reported 46% Q1 revenue growth and follow a signal on a 120-bps Q1FY27 margin slip. They also come after ICICI Securities raised its target to ₹680.
The retail-company theme is accelerating, up 208543% QoQ.