Overview
- Standalone revenue rose about 40% year on year as the jewellery division grew 41% on higher average selling prices and a gold exchange offer.
- International sales jumped roughly 79–81% with Tanishq opening two new stores in North America, one each in Boston and Orlando.
- Domestic business increased about 38% and the company added 47 jewellery stores during the quarter across Tanishq, Mia, Zoya, beYon and CaratLane.
- Watches advanced 13% with analog up 17%, smartwatches declined 26%, eyecare grew 16%, fragrances 22% and women’s bags 111%.
- Shares gained around 4% to a record high as brokerages including Nomura and Antique kept Buy ratings with Rs 4,500 targets, while noting possible near-term jewellery margin pressure from mix.