Summary:
Kalyan Jewellers shares rose nearly 6% after the company reported a strong 38% year-on-year revenue growth in Q1FY27, supported by robust performance in India, the Middle East, and its Candere brand. Positive commentary from Citigroup and continued retail expansion further boosted investor sentiment despite broader market weakness.
The share prices of Kalyan Jewellers India Ltd moved up by almost 6% on Wednesday, July 8, in spite of a fall in the overall market, after global investment bank Citigroup reaffirmed its positive stance on the jeweller and indicated upside in its stock.
The stock emerged as the biggest winner on BSE Midcap Index, surging as much as 6% to touch an intraday high of ₹376. The stock witnessed a surge even as the major benchmarks continued to remain under pressure with the Sensex falling more than 350 points and the Nifty losing more than 110 points in the late morning trading session. The Nifty Midcap 100 and Nifty Smallcap 100 Index were also trading lower, whereas India VIX rose more than 4.2%.
On the National Stock Exchange (NSE), the stocks of Kalyan Jewellers opened with gains of about 2% at ₹360, before going on to hit an intraday high of ₹377.70. At 11 AM, the stock was trading 5.20% higher at ₹373.55, with about 18.5 million shares being traded on the NSE.
Q1FY27 Revenue Rises 38% on Strong India and Middle East Performance
Consolidated revenue grew by 38% YoY in the June quarter of FY2026-27 owing to good performance in both India and international segments.
Consolidated net revenue for Kalyan Jewellers was ₹7,314.74 crore in Q1FY26. In Q1FY27, revenue from the India segment grew by 38% compared to last year owing to 28% SSSG.
Performance in the international segment was also good with the revenue growing by 35% during the quarter. The Middle East contributed approximately 30% of the international revenue, while overseas contributed about 14% to consolidated revenue.
Candere Business Shows Strong Growth Momentum
The Candere jewellery brand from Kalyan Jewellers that follows a digital-first approach maintained its growth momentum in Q1FY27, with revenues rising by 112% year-on-year in Q1FY27. The company opened five more Candere stores in the quarter.
Overall, Kalyan Jewellers increased its retail footprint by opening 12 new Kalyan showrooms and five Candere showrooms in India in the quarter.
However, despite the latest upturn, the stock continues to face headwinds on a year-to-date basis. The shares of Kalyan Jewellers are down almost 24% YTD in 2026, badly underperforming the benchmark Nifty 50 index, which is down about 6.7% in the same period
