Kalyan Jewellers India Limited announced its financial results for the quarter ended September 30, 2026 (Q2 FY27). The company reported a significant year-on-year increase in Profit After Tax (PAT) by 62% to ₹4,240 million. Revenue also saw a substantial growth of 32% to ₹90,072 million. This performance was driven by strong Same-Store-Sales Growth (SSSG) of approximately 20% and a revenue increase of about 23% from its B2C segment.
Strong Financial Performance in Q2 FY27
Kalyan Jewellers India Limited has released its financial results for the second quarter of the financial year 2027 (Q2 FY27), showcasing robust growth across key metrics. The company registered a Profit After Tax (PAT) of ₹4,240 million, marking a significant 62% increase compared to the same period in the previous year (Q2 FY26). Revenue for the quarter reached ₹90,072 million, demonstrating a year-on-year growth of 32%.
Key Growth Drivers
The impressive revenue growth was primarily fueled by a healthy Same-Store-Sales Growth (SSSG) of approximately 20%. The company’s B2C revenue segment also contributed significantly, with a growth of about 23%. Furthermore, the share of revenue from franchised showrooms stood at approximately 59%, highlighting the success of their franchise expansion strategy.
Profitability and Operational Efficiency
Gross Profit for the quarter increased by 24% to ₹10,631 million, with a Gross Profit Margin of 11.8%. EBITDA grew by 27% to ₹5,485 million. The company highlighted that its PAT margin improved to 4.7% in Q2 FY27 from 3.8% in Q2 FY26. An exceptional gain of ₹735 million from the sale of non-core real estate assets was recognized in Q2FY27.
India and Middle East Performance
In India, revenue grew by 32%, with South India revenue up 23% and Non-South revenue up 31%. Gold revenue saw a 28% increase, while studded revenue rose by 27%. The Middle East operations also reported positive performance, with revenue growing by 11% to ₹9,613 million, led by SSSG of 12%.
Balance Sheet Strength
The company continues to focus on improving its balance sheet. The Net Debt to Equity ratio (with GML) stood at 0.4x for the TTM period. ROCE and ROE for the consolidated entity were reported at 30.7% and 26.7% respectively for the TTM, indicating strong returns on capital employed and equity.
Strategic Progress
Kalyan Jewellers is actively pursuing a capital-efficient growth strategy, evidenced by the increasing number of Franchise Owned Company Operated (FOCO) showrooms. By the 30th of September 2026, the company had 246 FOCO Kalyan showrooms in India and plans for 84 new FOCO showrooms in India for FY27, along with expansion in international markets.
Source: BSE
