Kalyan Jewellers India Limited reported a 30% revenue growth for Q2 & H1 FY26, with consolidated revenue of INR7,856 crores. The company’s EBITDA reached INR497 crores, and profit after tax stood at INR261 crores. Kalyan Jewellers expanded its store network by opening 32 stores during the quarter, including Kalyan India, Middle East, and Candere outlets. Same-store sales growth for the 30-day period ending Diwali exceeded 30%.
Financial Performance Highlights
Kalyan Jewellers announced a strong financial performance for the quarter, demonstrating robust growth across key metrics:
- Consolidated Revenue: INR7,856 crores (30% growth)
- EBITDA: INR497 crores
- Profit After Tax: INR261 crores
The India business saw a revenue of INR6,843 crores, with a profit after tax of INR262 crores, marking a significant 118% increase.
Middle East and Candere Performance
The Middle East business reported revenue of INR866 crores and a profit of INR15 crores. Candere’s revenue reached INR93 crores.
Store Expansion and Outlook
During the quarter, Kalyan Jewellers strategically expanded its store network:
- Kalyan India: 15 new stores
- Middle East: 2 new stores
- Candere: 15 new stores
The company aims to continue its growth trajectory by focusing on store expansion and maintaining strong same-store sales growth.
Debt Reduction and Future Plans
Kalyan Jewellers has reduced its debt by INR130 crores, bringing non-GML debt levels to INR550 crores as of September 30, 2025. The company is on track to achieve its annual debt reduction target of INR300 crores and is also initiating steps to monetize non-core real estate assets. The same-store sales growth for the 30-day period ending Diwali was in excess of 30% on a like-for-like basis. The company expects PBT margins to be higher in H2 compared to H1, driven by factors such as store revenue share, product mix, and interest savings from debt repayment.
Regional Brand Launch
The launch of the regional brand is expected in Q4. This brand will offer 100% local and authentic jewelry, targeting customers who prefer non-aspirational designs. The company plans to open 5 showrooms with an investment of approximately INR300-350 crores. ROCE for the regional brand is expected to be in the range of 16%-18% in the initial year.
Source: BSE
