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2h ago

Kalyan Jewellers Posts 30% Q2 Growth as Candere Surges and Debt Cut Plan Advances

The September quarter delivered the weakest year-on-year increase in four quarters as a high base from last year’s duty cut tempered comparisons.

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Overview

  • India revenue rose about 31% year on year in Q2 FY2026, supported by wedding demand and an early festive lift, with same-store sales up 16%.
  • International revenue grew roughly 17%, with the Middle East up nearly 10% on same-store gains and overseas markets contributing close to 12% of total revenue.
  • Candere delivered standout performance with approximately 127% year-on-year revenue growth driven by higher footfalls and increased web traffic.
  • The company opened 32 outlets in the quarter, including 15 Kalyan showrooms in India, two in the Middle East, and 15 Candere stores, taking the total count to 436.
  • Kalyan secured lead-bank approval to release real-estate collateral tied to repaid debt, enabling the next phase of its FY2026 debt reduction plan, and it plans additional showroom launches before Diwali.